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Analysis of IEPF Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017

March 8, 2017 6393 Views 3 comments Print

The major amendments made by MCA are related to the Transfer of Equity Shares by Company to IEPF Authority in case any shareholder fails to en-cash Dividend Warrants issued by company in any of the last 7 (seven) consecutive years.

No one to be deprived of benefits for lack of Aadhaar

March 8, 2017 1107 Views 0 comment Print

Government has said that no one will be deprived of the benefits for lack of Aadhaar. In a statement issued today, the Government has reiterated that till Aadhaar number is assigned to any individual, the benefit will continue to be given based on alternate means of identification.

Harmonising MEIS Schedule / Table with MEIS Rate Product wise

March 7, 2017 8349 Views 0 comment Print

This is a consolidated list of all items under MEIS notified so far (Public Notice No.2 dated April 1, 2015 and subsequent expansion through PN.27 dated July 14, PN. 28 dated July 16, PN.44 dated 29 October of 2015 and PN.6 dated May 4, PN.26 dated August 26 , PN.32 dated September 22 of 2016 and PN.49 dated 30.12.2016) and is based on sequence of ITC(HS),

FM releases Revised General Financial Rules (GFR) 2017

March 7, 2017 17826 Views 0 comment Print

The Finance Minister Shri Arun Jaitley calls upon the Financial Advisers of different Ministries to ensure that expenditure on schemes and projects start from the beginning of the financial year to leverage the early passing of the Finance Bill this year;

ICAI invites suggestions on Mid Term Review of FTP 2015-20 / SEIS

March 7, 2017 855 Views 0 comment Print

Ministry of Corporate Affairs seeking ICAI’s suggestions for the Mid-Term Review of the Foreign Trade Policy 2015-20 in order to account for the changes in the circumstances over period and as a measure of mid-term course correction.

Turning Padma Awards into People’s Awards

March 7, 2017 1356 Views 0 comment Print

The Padma Awardees List for 2017 has come as a whiff of fresh air. The unsung heroes have captured the imagination of the people. They include a) Meenakshi Amma (76), India’s oldest women exponent of Kalaripayttu b) Girish Bharadwaj (66)

Indian women continue to be viewed as supplementary bread earners in families

March 7, 2017 1905 Views 0 comment Print

A survey, conducted by Apollo Munich Health Insurance in collaboration with Nielsen India Pvt. Ltd. in 19 cities found that despite a rise in health insurance claims filed by women, few women are coming forward to buy health insurance.

Use of facility does not amount to technical services

March 7, 2017 1929 Views 0 comment Print

Freight income from operation of ships in international waters is not chargeable to tax under Indo-Danish DTAA; Use of facility does not amount to technical services, as technical services denote services catering to the special needs of the person using them and not a facility provided to all.

ITAT vacates stay on demand on flouting of terms of stay of demand

March 7, 2017 843 Views 0 comment Print

This appeal, filed by the assessee, being ITA No. 971/Mum/2016 for assessment year 2011-12 has come up for hearing today i.e. 23-02.2017 whereby ld. Counsel Shri Hiten Chande,CA on behalf of the assessee and Mrs. Malathi Sridharan, CIT DR on behalf of the Revenue were present. The Assessing officer was also present during the course of hearing.

Sec. 68 Unexplained Credit can only be added to taxable income of AY in which it occurs

March 7, 2017 2271 Views 0 comment Print

In a recent ruling, the ITAT Jabalpur, decided the case in favour of the assesse, deleting the additions made by the Assessing Officer towards sundry creditors amounting to Rs. 5.07 lacs. The court held that under Section 68 of the Income-Tax Act, 1961

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