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Govt. notifies Insurance Ombudsman Rules, 2017

April 25, 2017 8928 Views 0 comment Print

These rules shall be called the Insurance Ombudsman Rules, 2017. The objects of these Rules is to resolve all complaints of all personal lines of insurance, group insurance policies, policies issued to sole proprietorship and micro enterprises on the part of insurance companies and their agents and intermediaries in a cost effective and impartial manner.

ICSI launches academic helpline for cs students

April 25, 2017 2640 Views 0 comment Print

The Institute of Company Secretaries of India (ICSI) is taking various initiatives for the continued growth of CS Profession and its increased recognition, awareness and trust amongst the Corporates, Regulators and Government. In it’s pursuit of professional excellence

GST Issues in MSME Sector

April 24, 2017 6102 Views 3 comments Print

Medium Small and Minor enterprises contributes approximately 37% of our Nations GDP. Any negative implication of GST on this segment can directly knock off the player from the competitive business market. This article tries to put forth various issues that this industry could face due upon passage GST.

Decoding Definitions under Goods and Services Tax

April 24, 2017 6555 Views 0 comment Print

As we all know that Goods and Service Tax (GST) is the biggest tax reform in India post-independence. It is a tax trigger, which will lead to business transformation for all major industries.

Advance ruling under the CGST Act 2017

April 24, 2017 6018 Views 0 comment Print

The World of Business is based on informed decisions. Decisions which make or break an organisation. A right estimation may lead it to scale new heights , and on the other hand , a wrong cost projections may lead to complete wipeout of the busine

Amount Deducted for Notice Period is not Taxable as Salary

April 24, 2017 18198 Views 4 comments Print

It is pertinent to note that the assessee has actually received the salary from his previous employers after deducting the notice period as per the job agreement with them. Therefore, in our considered view, the actual salary received by the assessee is only taxable.

Annual General Transfer in the grade of AC/DCIT – reg.

April 24, 2017 2106 Views 0 comment Print

Order No. 55 of 2017 The following postings / transfers in the grade of Assistant / Deputy Commissioner of Income Tax are hereby, ordered with immediate effect and until further orders:-

Excise Duty on Heena Powder & Paste falling under Chapter 33-Reg.

April 24, 2017 1227 Views 1 comment Print

Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof) under section 3 of the Central Excise Act, 1944 (1 of 1944), (hereinafter referred to as the said Act), on Heena Powder and Paste falling under Chapter 33 of the First Schedule to the Central Excise Tariff Act, 1985

End of Red Beacons : A big blow to VIP culture

April 23, 2017 2307 Views 1 comment Print

On Wednesday, April 19, 2017, the Union Cabinet decided to amend the Motor Vehicle Rules to end the use of red or any coloured beacon by all, including the President, Vice President and the Prime Minister. Every Indian is special. Every Indian is a VIP, Prime Minister Narendra Modi tweeted soon after.

Interest Paid by Firm to partners cannot be disallowed U/s. 14A

April 23, 2017 7434 Views 0 comment Print

In this case basic issue to be decided was about the interest payment made by the partnership firm to the partners in light of the provisions of section 14A read with rule 8D of the Rules.

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