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ICAI Increases Entrance, Annual Membership, COP & Restoration Fee

February 9, 2017 16584 Views 0 comment Print

Council of the Institute of Chartered Accountants of India, with the prior approval of the Central Government, wherever required, hereby notifies the following rates of fee for entry of name in the Register of Members, annual membership fee, annual certificate of practice fee and fee for restoration of name in the Register of Members:-

Allotment of PAN through a common application form

February 9, 2017 6915 Views 0 comment Print

An applicant may apply for allotment of permanent account number through a common application form notified by the Central Government in the Official Gazette, and the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall specify the classes of persons, forms and formats along with procedure for safe and secure transmission of such forms and formats in relation to furnishing of permanent account number.”;

Two key labour reform bills to come up in Parliament: Labour Minister

February 9, 2017 1176 Views 0 comment Print

As a part of Labour reforms, The Government would introduce two important bills relating to wages and industrial relations in Parliament in March for simplification and rationalisation of the Labour Laws, Labour Minister Mr.Bandaru Dattatreya said at an ASSOCHAM Annual Event today.

Aadhaar mandatory for benefit under Janani Suraksha Yojana

February 9, 2017 5532 Views 0 comment Print

An individual eligible to receive the cash assistance under the Janani Suraksha Yojana is, hereby, required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.

ASSOCHAM concerned over RBI leaving “accommodative” stance on interest rates

February 8, 2017 882 Views 0 comment Print

Expressing disappointment over belying of expectations on the interest rate cut by the Reserve Bank of India, the ASSOCHAM today said what is more worrying is the RBI putting an end to the “accommodative” stance in the wake of the impact of demonetization.

No limit on cash withdrawal from 13.03.2017; ₹50000 from 20.02.2017

February 8, 2017 17238 Views 2 comments Print

Effective February 20, 2017, the limits on cash withdrawals from the Savings Bank accounts will be enhanced to ₹ 50,000 per week (from the current limit of ₹ 24,000 per week); and Effective March 13, 2017, there will be no limits on cash withdrawals from Savings Bank accounts.

Guideline for Seizure of Custom goods, documents and things

February 8, 2017 8370 Views 0 comment Print

It has been brought to the notice of the Board that in several cases, goods arc being held-up/seized by the field formations only under panchnama and separate orders for seizure of goods are not being passed.

How to Submit Form 1 (Pradhan Mantri Garib Kalyan Yojana, 2016)

February 8, 2017 7062 Views 0 comment Print

As per the Notification No. 116/2016, the Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016, is a declaration u/s 199C of the Finance Act, 2016, in respect of the Taxation and Investment Regime for PMGKY. There are two forms, Form 1 & Form 2.

Rent cannot be taxed in the hand of co-owner if his name is added merely to avoid succession problems in future

February 8, 2017 2763 Views 0 comment Print

Though the assessee is the sole owner of the property, he has included his wife and son as co-owners in the sale deed only to avoid succession problems in future and that they were also included as co-obligants in the loan agreement on insistence by the SBI to avoid legal litigation in future.

Notification No. 10/2017-Customs (N.T.) dated 08.02.2017

February 8, 2017 2175 Views 0 comment Print

Central Board of Excise and Customs hereby invests in the officers specified in column (1) of the Table below, the powers of the Customs Officer of the rank specified in column (2) of the said Table,

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