Hon’ble Supreme Court held that such legislative provisions cannot be amended by CBDT in exercise of its power under Section 119 of the Act. The High Court has, therefore, rightly held the circular ultra virus and quashed the same.
The Stock Brokers (bank and non-bank) shall ensure that all proprietary positions created in FCY-INR pairs (USD-INR, EUR-INR, GBP-INR and JPY-INR) is within the following consolidated position limits:
SEBI has vide circular CIR/MIRSD/24/2011 dated December 15, 2011 prescribed Guidelines on Outsourcing of Activities by Intermediaries. Through these guidelines certain principles for outsourcing to be followed by all the intermediaries registered with SEBI were laid down. Further, based on the recommendations of the Depository System Review Committee (DSRC)
On review of the progress of TDS collections it is noted that as on 31.08.2017, an amount of Rs. 1,65,114 crore has been collected under TDS (Minor Head) at a growth rate of 10.44% over corresponding period of last financial year. It has shown a significant decline of 7 percent over the last financial year when the growth rate at this time was 17.44%.
It is hereby clarified that the holding company if it is covered by the corporate sector roadmap for implementation of Ind AS, shall follow the corporate sector roadmap and if the company has got payment bank or small finance bank as its subsidiary then subsidiary company shall follow the banking sector roadmap
As per Section 6(1) of The Maharashtra State Tax on Professions, Trades, Callings and Employments Act 1975 (the Profession Tax Act, 1975), every employer registered under the Profession Tax Act, 1975 has to furnish return in prescribed format showing the salaries and wages paid and the amount of tax deducted by him in respect thereof. As per Rule 11(2A)
Please refer to your letter No. GROMA/2017-18/135 & 136 both dated 18.8.2017 on the above mentioned subject. In this regard, it is to inform you that all the queries raised are cleanly and unambiguously covered in the related statutory provisions. The desired reply to the relevant statutory provisions are mentioned point wise below against each query.
Applicability of Section 115JB to insurance companies Turning now to ITA No. 447/2015, the question concerns the applicability of Section 115JB of the Act to insurance companies. The ITAT has permitted the Assessee to raise this question since, in a large number of judgments of the ITAT, the question has been answered in favour of […]
All these appeals are filed by the same appellant, namely, M/s. India Hume Pipe Co. Ltd. (hereinafter referred to as the assessee). The singular issue that arises is also identical in all these appeals. The only reason for filing number of appeals is that the said issue pertains to different Assessment Years.
The Central Board of Direct Taxes (CBDT) issued a Circular under Section 119 of the Income Tax Act,1961. In fact, it amended the provisions contained in Rule 68B of the IInd Schedule to the Income Tax Act, 1961, which otherwise have statutory force. Such legislative provisions cannot be amended by CBDT in exercise of its power under Section 119 of the Act.
