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IRDA Guiding Principles for Pricing of Risk

May 9, 2017 3285 Views 0 comment Print

1) The Loss Costs for Fire line of business published by IIBI in the 2nd Schedule of Loss Costs for various occupancies is to be considered in determining the premium rates. 2) In the alternative, the Loss Cost of a particular occupancy based on the Insurer`s own past acceptances may be considered, for all available periods.

TDS U/s. 194C not deductible on wages paid to labourers working under direct supervision of assessee

May 9, 2017 36450 Views 0 comment Print

Now the issue before us arises so as to whether the labourers are the employees of assessee or they are working in contractual capacity attracting the provisions of TDS.

Anti-dumping duty on Partially Oriented Yarn (POY)

May 9, 2017 1167 Views 0 comment Print

Seeks to extend the levy of anti-dumping duty, imposed on Partially Oriented Yarn (POY) originating in or exported from China PR under notification No. 22/2012-Customs (ADD), dated 02.05.2012, for a further period of one year i.e. upto and inclusive of 01.05.2018.

Customs and Central Excise Settlement Commission (Amendment) Procedure, 2017

May 9, 2017 879 Views 0 comment Print

Publication of Orders:- The orders of the Commission as are deemed fit for publication, in any authoritative report or by the press, may be released for such publication, on such terms and conditions as the Commission may lay down.

3 states account for half of total investments attracted by real estate

May 9, 2017 810 Views 0 comment Print

Maharashtra, Uttar Pradesh (UP) and Gujarat together account for over half of the total investments attracted by real estate and construction sector in India as of December 2016, noted a recent study by apex industry body ASSOCHAM.

India’s Sustained Trade Reforms under Modi Government

May 9, 2017 687 Views 0 comment Print

It goes to the credit of Prime Minister Narendra Modi Government for bringing about a turn-around in India’s export through sustained trade reforms during the last three years in spite of adverse global economic situation. India is among the few emerging economies, which had escaped the worst of the adverse external environment. This global downturn resulted in severe downturn in global trade and sharp fall in global commodity prices damaging exports all over.

Ruler is above suspicion Ujjwala to Ujala- brightening up hinterland

May 9, 2017 1572 Views 0 comment Print

Various steps of the government have put the scamsters in a tight spot. A number of agreements with various countries have blocked channels of rerouting of black money via Mauritius, Cyprus and Singapore. The previously laundered money can now no longer be brought back to India via Mauritius, Singapore and Cyprus routes.

Blockchain- In Supply Management

May 9, 2017 2232 Views 0 comment Print

An Auditor has evolved from traditional practices of checking the accuracy of the numbers, finding faults or detecting frauds to a wider concept called ‘Value addition to their Clients’.

Plea in Madras HC on Penalty on CAs for Filing Wrong Information- Section 271J

May 9, 2017 4935 Views 2 comments Print

A petition has been filed in the Madras High Court challenging the section 271J of the Income Tax Act inserted vide Finance Act 2017. Madras High Court has admitted the plea and issued notice to Finance Ministry.Section 271J of Income Tax imposed a penalty of Rs. 10,000 on Chartered Accountants for each wrong certification or report.

Benefit of 2 Years weightage of Service under Employees Pension Scheme

May 8, 2017 22260 Views 10 comments Print

In the case of the member who superannuates on attaining the age of 58 years, and who has rendered 20 years pensionable service or more, his pensionable service shall be increased by adding a weightage of 2 years.

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