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Fourth Bi-monthly Monetary Policy Statement, 2017-18- Resolution of MPC RBI

October 4, 2017 681 Views 0 comment Print

The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 per cent, while supporting growth. The main considerations underlying the decision are set out in the statement below.

Items of common use attracting lower rates under GST

October 4, 2017 1071 Views 0 comment Print

> Milk powder, > Curd, Lassi, Butter milk > Unbranded Natural Honey > Dairy spreads > Cheese > Cashew nut > Raisin > Spices > Tea > Wheat > Rice > Flour > Soyabean > oil > Groundnut oil > Palm oil > Sunflower oil > Coconut oil > Mustard Oil > Other vegetable edible oils > Sugar > Palmyra jaggery > Sugar confectionery > Pasta, spaghetti, macaroni, noodles

Format in MS Word of Letter for Consent of taxpayers and Letter for Migration of Email Based E-Assessment in E-Proceeding

October 3, 2017 10749 Views 0 comment Print

owards this end, as a part of Government’s initiative towards E-governance, from this financial year, Income-tax Department has decided to deepen use of digital platform for conduct of scrutiny assessment proceedings. Accordingly, the pending scrutiny proceedings (getting barred by limitation in Financial Year 2017-18)

National Savings (Monthly Income Account) Rules, 2017

October 3, 2017 1302 Views 0 comment Print

In the National Savings (Monthly Income Account) Rules, 1987, in rule 5, in sub-rule 1, for the words one thousand five hundred, the words one hundred shall be substituted.

PPF account deemed to be closed on Resident A/c holder becoming non Resident

October 3, 2017 3912 Views 3 comments Print

If a resident who opened an account under this scheme, subsequently becomes a non Resident during the currency of the maturity period, the account shall be deemed to be closed with effect from the day he becomes a non-resident and interest with effect from that date shall be paid at the rate applicable to the Post Office Saving Account up to the last day of the month preceding the month in which the account is actually closed

Senior Citizens Savings Scheme (Amendment) Rules, 2017

October 3, 2017 8850 Views 0 comment Print

In the Senior Citizen Savings Scheme Rules, 2004, in rule 2, in clause (d), in sub-clause (ii), in the second proviso, for the words irrespective of the above age limit the words on attaining the age of fifty years shall be substituted.

IGST on Services Provided to Head Office abroad challenged in HC

October 3, 2017 2517 Views 0 comment Print

Notice. Mr. Sanjeev Narula, the learned CGSC accepts notice for Respondent No.1 and Mr. Harpreet Singh, Sr. Standing Counsel accepts notice for Respondent No.2. Reply be filed on or before 17th October, 2017 and rejoinder, if any, be filed before the next of hearing.

ITAT has to reappraise & re appreciate all factual materials placed before it

October 3, 2017 1263 Views 0 comment Print

It was held by Supreme Court in Karnani Properties Ltd vs. CIT [1972 AIR 2315, 1972 SCR (1) 457] that it is for the Tribunal to find facts and it is for the High Court and this Court to lay down the law applicable to the facts found. Neither the High Court nor this Court has jurisdiction, to go behind or to question the statements of facts made by the Tribunal.

No S. 12AA Registration cancellation for non-start of charitable or religious activity

September 30, 2017 2241 Views 0 comment Print

Registration U/s. 12AA cannot be cancelled on the ground that trust has not yet commenced charitable or religious activity- CIT vs. Shreedhar Sewa Trust (Allahabad High Court)

Guidelines for name approval of Company in India.

September 30, 2017 60627 Views 2 comments Print

Issues: 1. How to decide a relevant Name? 2. How to get the decided name approved in one go? The above two questions have become a major task these days. To get rid of these issues, following steps must be kept in mind

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