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Trade Unions- A Small 5 Point analysis

March 24, 2017 1269 Views 0 comment Print

Generally, ‘Trade Union’ means the formal association of the workers or employees in an organization, a group of trades or profession formed to claim the legitimate rights and promote their common interest i.e. welfare rules for their own welfare.

Draft Law on Ponzi Schemes

March 24, 2017 705 Views 0 comment Print

A copy of the Report of the IMG along with the draft Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill was placed on the website of the Department of Financial Services (DFS) in March, 2016 for eliciting public comments.

Sahara to pay Rs. 750 crore before due diligence to sell its hotel in USA

March 24, 2017 1101 Views 0 comment Print

SC Said The permission can only be granted if SAHARA deposits a sum of Rs.750 crores before the Registry of this Court on or before 17th April, 2017

Do not allow more than two attendants of a patient in hospital: HC

March 24, 2017 2112 Views 0 comment Print

In spite of norms that not more than two attendants of a patient will be allowed to enter the hospital through the main gate itself has to be strictly implemented. This would include visitors visiting the patients during a particular visiting hours of the hospital. In other words, at any point of time, there may not be more than two attendants of a patient who can have entry in the hospital premises.

Management can taken action against doctors on Strike: HC

March 24, 2017 834 Views 0 comment Print

The petitioners who have filed this public interest litigation (PIL) submits that there is urgency in the matter since more than 50 patients have died on account of mass strike of resident doctors numbering about 4,500 all over the State of Maharashtra. Learned counsel appearing for the respondent Association submits that they have not given […]

Download Finance Bill 2017 as passed by Lok Sabha

March 23, 2017 42660 Views 0 comment Print

Lok Sabha passes  Finance bill 2017 on 22.03.2017 with 189 Amendments to following Acts and 9 related schedules:- Income Tax Act, 1961 and Rules Custom Act,1962 Excise Duty Act, 1944 Finance Act, 1994 The Indian Trusts Act, 1882 The Indian Post Office Act, 1898 The Reserve Bank Of India Act, 1934 The Representation Of The […]

Budget 2017: Taxation of trusts in context of succession planning

March 23, 2017 4992 Views 0 comment Print

Amendment in Section 56 provisions would be a welcome relief for promoter groups contemplating succession planning as the transfer of shares from individual promoters to a family trust would not suffer tax even if made without any consideration.

Advertisement expense post Flilm certification by Censor Board allowable

March 23, 2017 1170 Views 0 comment Print

Advertisement expenditure incurred after certification by Board of Film Censors cannot be included as part of cost of production, hence, provisions of rule 9A, will not apply. It was held, the expenditure incurred in regular course of business has to be allowed under section 37.

Section 194J TDS not applicable to payment made in kind

March 23, 2017 8676 Views 0 comment Print

TDS is applicable in case of payment of any sum towards fees for professional services. He submitted, the term any sum, used in section 194J would denote payment in money terms and not in kind.

Expense on obtaining ISO certificates are revenue expenditure

March 23, 2017 17343 Views 1 comment Print

It was submitted by the assessee that ISO 27001 and ISO 9001:2008 certification are valid for a period of three years but they are neither intangible fixed asset nor transferrable. Hence, the expenditure incurred for obtaining such certificate is revenue in nature as the certificates can be withdrawn if the assessee does not adhere to the requirement of the certificates.

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