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Minimum rates of wages in Delhi wef 3rd March 2017

March 3, 2017 12786 Views 0 comment Print

Government of National Capital Territory of Delhi is pleased to revise, the minimum rates of wages for the class of workmen/employees mentioned in all the Schedule employments as mentioned in earlier notification no. F.12 (1)142/11/MW/Lab/ 2023-2047 dated the 26th July, 2011, in the National Capital Territory of Delhi, namely:

FEM(Transfer or Issue of Security by a Person Resident outside India) (Second Amendment) Regulations, 2017

March 3, 2017 6933 Views 0 comment Print

G.S.R. 188 (E).—In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000

AO has no jurisdiction to examine constitutional validity of any Act

March 3, 2017 8904 Views 0 comment Print

All the appeals are directed against the common order dated 18.02.2016 passed by the learned Single Judge in the respect of writ petitions whereby the learned Single Judge, for the reasons recorded in the order, has set aside the impugned assessment orders so far as they relate to Privilege Fee as being taxable income.

Sec. 271J- Why Penalty on chartered accountant needs to be removed?

March 3, 2017 9834 Views 4 comments Print

In order to ensure that the person furnishing report or certificate undertakes due diligence before making such certification, new section 271J is proposed to be inserted so as to provide that if an accountant or a merchant banker or a registered valuer

Budget 2017: Tax neutral conversion of preference shares to equity shares

March 3, 2017 3774 Views 0 comment Print

Article deals with proposed amendment in Section 2(hf), section 47(xb) and section 49(2AE) related to Tax neutral conversion of preference shares to equity shares and sought Clarification regarding tax treatment for earlier years

Budget 2017: Extend benefit of non-applicability of indirect transfer provisions to Category III FPIs too

March 3, 2017 846 Views 0 comment Print

The Finance Act, 2012 amended Section 9(1)(i) of the Act with retrospective effect from 1st April 1962 to provide that any share or interest in an entity incorporated outside India shall be deemed to be situated in India if such share or interest derives, directly or indirectly, its value substantially from assets located in India.

Courier Imports and Exports (Clearance) Amendment Regulations, 2017

March 3, 2017 1557 Views 1 comment Print

1. (1) These regulations may be called the Courier Imports and Exports (Clearance) Amendment Regulations, 2017. (2) They shall come into force on the date of their publication in the Official Gazette.

GATS: General Agreement on Trade in Services

March 2, 2017 18942 Views 0 comment Print

Taking an inspiration from GATT (General Agreement on Tariffs and Trade) which is a multilateral agreement regulating international trade, in January 1995 a treaty was passed by the World Trade Organization (WTO) in Uruguay Round negotiations known as GATS (General Agreements on Trade in Services).

Schedule V of Revised Draft GST Law- Persons Liable To Be Registered

March 2, 2017 3561 Views 0 comment Print

Schedule V of GST Law deals with person liable for registration. This schedule can be divided in three parts.Part A – Turnover Based Registration– As a general rule, every supplier is liable to be registered if his aggregate turnover in a financial year exceeds 20 lakhs.

Borrower can Appeal to DRT even If Mortgaged property belongs to Guarantor

March 2, 2017 4269 Views 0 comment Print

This petition under Article 227 of the Constitution of India has been preferred for quashment of the recovery and auction proceedings initiated against the petitioner by the respondent UCO Bank (the Bank henceforth); for quashing the appellate order dated 9-11-2011 passed by the Debts Recovery Appellate Tribunal, Allahabad

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