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Modification in guidelines for stand-alone plain vanilla forex options

April 6, 2018 825 Views 0 comment Print

It has now been decided that stand-alone plain vanilla forex options (without attached structures) purchased by clients will be exempt from the ‘user suitability and appropriateness’ norms, and the regulatory requirements will be at par with forex forward contracts.

Govt amends 5 Excise Notifications dated 2nd February 2018

April 6, 2018 948 Views 0 comment Print

Seeks to amend notification Nos. 11/2017-Central excise dated 30th June, 2017, 10/2018-Central excise 11/2018-Central excise, 12/2018-Central excise and 13/2018-Central excise, all dated 2nd February 2018

Pass speaking order on re-assessment, within fifteen days: CBIC

April 5, 2018 14211 Views 1 comment Print

Proper officer shall pass a speaking order on the re-assessment, within fifteen days from the date of re-assessment of the bill of entry or the shipping bill, as the case may be.’

Two flats in different locations cannot be considered as single residential house for section 54 / 54F

April 5, 2018 7875 Views 0 comment Print

The learned Commissioner of Income Tax(Appeals) erred in allowing the assessees appeal relying on the decision of the Honble High Court of Karnataka in the case of Smt. K.G. Ruminiamma (2011 )331 ITR 211 when the facts of the case are distinguishable from the assessee’s case. In the case of Smt. K.G Ruminiamma

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15

April 5, 2018 5595 Views 0 comment Print

Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15 „Ind AS Transition Facilitation Group‟ (ITFG) of Ind AS Implementation Group has been constituted for providing clarifications on timely basis on various issues related to the applicability and /or implementation of Ind AS under the Companies (Indian Accounting Standards) Rules, 2015, raised by preparers, users and […]

How to register and submit statement of financial transactions (SFT)

April 5, 2018 61752 Views 1 comment Print

Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962.

SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2018

April 5, 2018 834 Views 0 comment Print

1. These regulations may be called the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2018. 2. They shall come into force on the date of their publication in the Official Gazette.

Govt Bans import of Oxytocin/API in any form

April 5, 2018 768 Views 0 comment Print

It has been decided that all bonafide requirements of Oxytocin would be met by indigenous production and accordingly all the imports of Oxytocin/API in any name should be banned with immediate effect.

ICAI forms Group on Vision 2024 for Global Presence of Indian CAs

April 5, 2018 1083 Views 0 comment Print

ICAI has reconstituted the Group on Vision 2024 for Global Presence of Indian CAs for suggesting way forward, comprising of the following members

Compliance with IBBI (Insolvency Professionals) (Amendment) Regulations, 2018

April 5, 2018 1176 Views 0 comment Print

In terms of the sub-regulation (2) of regulation 13 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016, the recognition granted to an IPE is subject to the condition that the IPE shall at all times continue to satisfy the requirements under regulation 12.

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