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Draft IRDA (Preparation of Financial Statements of Insurers) Regulations, 2017

March 15, 2017 3669 Views 0 comment Print

In order to address the implementation issues, the Authority had constituted the Implementation Group on Ind-AS in Insurance Sector in India. The group has submitted its report on 30th December 2016.

FDI in trading of Food Products

March 14, 2017 1233 Views 0 comment Print

Ministry of Food Processing Industries has held three meetings on 17.03.2016, 03.08.2016 and 27.02.2017 with Ambassadors and High Commissioners in India of various foreign countries namely Australia, China, Canada, France, Indonesia, Japan, Korea, Netherland, Poland, Russia, Singapore, UK, New Zealand, UAE, Thailand, Germany, Belgium, Brazil, USA, Malaysia, Mexico, Switzerland, Spain and Italy. These meetings were […]

Mandatory for Hospitals to issue detailed bills to patients & to separately disclose cost of Coronary Stents

March 14, 2017 1677 Views 0 comment Print

National Pharmaceuticals Pricing Authority (NPPA), has directed hospitals to issue detailed bills to the patients, specifically and separately mentioning the cost of the Coronary Stents, along with the brand name of the manufacturer and importer, batch number and other details.

Service Charges are Discretionary/ Voluntary

March 14, 2017 1281 Views 0 comment Print

The Ministry of Consumer Affairs, Food and Public Distribution has issued advisory to all the State Governments/UTs to sensitise the companies, hotels and restaurants in the state regarding the relevant provisions of the Consumer Protection Act, 1986 on unfair trade practices

Existence of deposit in bank not mandatory on PMGKY payment date

March 14, 2017 7719 Views 0 comment Print

Representations received seeking clarification as to whether deposits made in bank account or cash in hand which are eligible for being declared under the PMGKY Scheme should exist on the date of filing of declaration under the Scheme.

No TDS on mere reimbursement of expenses without Income element

March 14, 2017 13599 Views 0 comment Print

It is crystal clear proposition of law that when there is no element of income and there is mere reimbursement made there is no question of deduction of TDS.

Deduction U/s. 80IA(4) eligible on lease rental income from open yard

March 14, 2017 2433 Views 0 comment Print

The assessee claimed deduction under section 80IA(4) on total income including the income received from lease rental on open yard. The A.O. observed that since open yard is not an infrastructure facility within the meaning of Section 80IA(4) of the Act,

Entertainment Tax leviable in Delhi on Multi-System & Local Cable Operators

March 14, 2017 3180 Views 0 comment Print

High Court held that MSOs to the extent that they directly provide cable service to the subscribers without the intervention of any LCO, would be regarded as the ‘proprietors‘ under Section 7(1) and would be liable to collect and pay the entertainment tax to the Government.

EPF contribution exemption to Singapore citizens working in India

March 14, 2017 2580 Views 0 comment Print

Special Provision in respect of International Workers– Exemption granted under the Comprehensive Economic Cooperation Agreement between the Republic of India and the Republic of Singapore (CECA-2005) to Singapore citizens working in India from contributing to social security schemes in India – Clarification regarding.

Enemy Property (Amendment and Validation) Act, 2017

March 14, 2017 4119 Views 0 comment Print

(1) This Act may be called the Enemy Property (Amendment and Validation) Act, 2017. (2) Save as otherwise provided in this Act, it shall be deemed to have come into force on the 7th day of January, 2016.

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