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PIL by a lawyer to gain popularity is violation of Code of Conduct

February 15, 2017 1149 Views 0 comment Print

We take this opportunity to remind the State Government to put in place a policy decision to ensure that the Print and Electronic Media does not while reporting instances of similar nature from furnishing any details which are capable of enabling the readers or general public to come to know of the identity of either the victims or those juveniles who are in conflict with law.

Draft IBBI (Voluntary Liquidation) Regulations, 2017

February 15, 2017 1752 Views 0 comment Print

Insolvency and Bankruptcy Board of India invites public comments on Draft Regulations for Voluntary Liquidation by 8th March, 2017. The Ministry of Corporate Affairs had set-up four Working Groups to facilitate implementation of the Insolvency and Bankruptcy Code, 2016. The Working Group-3 had a mandate to deliberate and submit its recommendations on rules and regulations […]

Increase cyber security spending to match growing threat landscape

February 15, 2017 882 Views 0 comment Print

The government should sharply increase spending on cyber security to a level that matches the changing threat landscape, noted a paper jointly conducted by ASSOCHAM-PwC.

Excise duty on medicines under Ayurvedic, Unani, Siddha, Homeopathic or Biochemic Systems

February 15, 2017 8577 Views 1 comment Print

The provisions of Central Excise Act 1944 with respect to medicines under Ayurvedic, Unani, Siddha, Homeopathic or Biochemic (AYUSH) System has been discussed as under

SC held Sasikala and her two relatives guilty of Corruption

February 15, 2017 3822 Views 0 comment Print

In a land mark 570 Page Judgment on 14.02.2017 Supreme Court has sent VK Sasikala and her two relatives to jail for four years for corruption. Supreme court also barred VK Sasikala from holding public office or contesting elections for 10 years after holding her guilty of amassing wealth disproportionate to her known income. She was also fined Rs. 10 crore by the court.

Govt. notifies protocol to amend India-Israel DTAA

February 14, 2017 2874 Views 0 comment Print

Protocol amending the Convention and the Protocol between the Republic of India and the State of Israel for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income and on capital was signed at Jerusalem, Israel on the 14th day of October, 2015 (hereinafter referred to as the said Protocol);

Submission of Monthly Reports by Custodians of Securities

February 14, 2017 1080 Views 0 comment Print

In partial modification of Para 2 of the circular IMD/FII&C/30/2008 dated July 21, 2008, it has been decided that the custodians shall submit the monthly reports latest by either the end of the third working day of the succeeding month or the 5th of the succeeding month, whichever is later.

Operationalizing of e-Nivaran at Aayakar Seva Kendras — regarding.

February 14, 2017 1956 Views 0 comment Print

List of Pr. CsIT charges where e-Nivaran is operational is enclosed herewith as per Annexure—A. Some of Pr. CsIT charges have not sent their replies or have been unable to upgrade ASK with e-Nivaran in their respective charges the list of which is separately enclosed herewith as per Annexure —B.

As Advance tax not payable on salary Income so interest U/s. 234B, 234C cannot be levied

February 14, 2017 8448 Views 0 comment Print

In cases where receipt is by way of salary, deductions under Section 192 of the Act is required to be made. No question of payment of advance tax under Part ‘C’ of Chapter VII of the Act can arise in cases of receipt by way of ‘salary’.

Freebies given to Doctors by A Pharmaceutical Company: Whether an allowable expenditure?

February 14, 2017 4212 Views 0 comment Print

Expenditure incurred by pharmaceutical companies in respect of physician sample etc. has remained controversial issue. The recent decision of Mumbai ITAT in DCIT vs. PHL Pharma P. Ltd, Mumbai has thrown new light on the issue.

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