It has been brought to the notice of the Authority that Reinsurance/Composite brokers undertake reinsurance transaction between entities that are domiciled in foreign jurisdictions.
Sub-section (3) of section 46 is being substituted so as to make it mandatory to file a Bill of Entry before the end of the next day following the day (excluding holidays) on which the vessel or aircraft or vehicle carrying the goods arrives at a customs station at which such goods are to be cleared for home consumption or warehousing and to provide for imposition of such charges for late presentation of the bill of entry as may be prescribed.
Existing provision of section 10(12A)of the Income Tax Act, 1961 provides that payment from National Pension System (NPS) to a subscriber on closurer of his account or opting out shall be exempt up to 40% of total corpus at time of withdrawal .
The top three rank holders on all India basis of Chartered Accountants Intermediate (IPC) Examination held in November, 2016 are from Pune, Kolkata and Chennai respectively and their details along with the marks secured by them are mentioned below-
As per Sec. section 9(1)(i)(d) of the Act, any income accruing or arising, whether directly or indirectly, through the transfer of a capital asset situated in India is deemed to accrue or arise in India.
This consultation paper discusses Consolidation and re-issuance of debt securities issued under the SEBI (Issue and Listing of Debt Securities) Regulations, 2008
The online verification of cash deposits during demonitisation has been enabled on the e-filing portal (for taxpayers) which will be synchronized with the internal verification portal of Income Tax Department (ITD).
Voluntary disclosure scheme has been implemented six times in India and discontinued the scheme ever again, the reason being that it is unfair to the honest person.The honest businessman’s capital is rising slowly because he is paying full tax. The dishonest businessman’s capital is rising fast.so the honest s one say let me also become dishonest.,although IDS OF 2016 was also like this.
Welfare spending in India suffers from misallocation: as the pair of charts show, the districts with the most poor (in red on the left) are the ones that suffer from the greatest shortfall of funds (in red on the right) in social programs. The districts accounting for the poorest 40% receive 29% of the total funding.
Against the backdrop of robust macro-economic stabiity, the year was marked by two major domestic policy developments, the passage of the Constitutional amendment, paving the way for implementing the transformational Goods and Services Tax (GST), and the action to demonetise the two highest denomination notes. The GST will create a common Indian market, improve tax […]
