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Notification No. 18/2018-Central Excise Dated: 23rd February, 2018

February 23, 2018 4281 Views 0 comment Print

Seeks to clarify the applicability of the notification No. 2/2018-Central Excise dated 02nd February, 2018, that the said notification shall not apply to the goods manufactured on or before the 1st February, 2018 and cleared on or after the 2nd February, 2018.

Notification No. 17/2018-Central Excise Dated: 23rd February, 2018

February 23, 2018 1131 Views 0 comment Print

Seeks to clarify the applicability of the notification No. 1/2018-Central Excise dated 02nd February, 2018, that the said notification shall not apply to the goods manufactured on or before the 1st February, 2018 and cleared on or after the 2nd February, 2018

Ombudsman Scheme for Non-Banking Financial Companies, 2018

February 23, 2018 1158 Views 0 comment Print

The Non-banking Financial Company – Infrastructure Finance Company (NBFC-IFC), Core Investment Company (CIC), Infrastructure Debt Fund – Non-banking Financial Company (IDF-NBFC) and an NBFC under liquidation, are excluded from the ambit of the Scheme.

Ombudsman Scheme for NBFCs, 2018 – Appointment of Officers

February 23, 2018 2286 Views 0 comment Print

The Reserve Bank of India (RBI) has brought into operation today the Ombudsman Scheme for Non-Banking Financial Companies, 2018 (The Scheme). The Scheme is available on the RBI website http://www.rbi.org.in.

Confidentiality of Info relating to Insolvency & Bankruptcy Processes

February 23, 2018 1545 Views 0 comment Print

An insolvency professional must ensure that confidentiality of the information relating to the insolvency resolution process, liquidation or bankruptcy process, as the case may be, is maintained at all times. However, this shall not prevent him from disclosing any information with the consent of the relevant parties or required by law.”

Notification No. 1/2018-Customs (N.T./CAA/DRI), Dated: 23.02.2018

February 23, 2018 2229 Views 0 comment Print

Notification No. 1/2018-Customs (N.T./CAA/DRI) S.O. (E). – In pursuance of notification No. 60/2015-Customs (N.T.), published vide number G.S.R. 453(E), dated 4th June 2015 in Gazette of India, Extra-ordinary, Part-II, section 3, sub-section (i), and as amended by notification No. 133/2015-Customs (N.T.), published vide number G.S.R. 916(E) dated 30th November 2015

MCA exempts Companies engaged in defence production from segment reporting

February 23, 2018 2604 Views 0 comment Print

Shall not apply to the companies engaged in defence production to the extent of application of relevant Accounting Standard on segment reporting

Pendency of processing u/s 143(1) for ITR paper and E-filed Returns

February 23, 2018 3147 Views 0 comment Print

Reference may be made to the letter on the subject above in F.No: DGIT(S)-3/AST/Processing of CASS Cases/101/2016-17/2 Date: 07.02.2018, wherein it was requested that Assessing Officers may be directed to complete processing u/s 143(1) for all Time barring Paper and E-filed returns expeditiously, wherever applicable.

Income from sale of Agricultural Land after plotting is business Income

February 22, 2018 20937 Views 1 comment Print

Ramswaroop Saudagar Vs ITO (ITAT Jaipur) Although the land was agricultural land and situated in the limits of city of Dausa. It was developed into 23 plots of various sizes and sold during the year. The nature of land had gone irreversible change from agricultural to residential plots, therefore, we are agree with the finding […]

CBDT notifies centralised communication scheme 2018 for issuance of e-notice

February 22, 2018 13068 Views 0 comment Print

(1) The Centralised Communication Centre shall issue notice to any person requiring him to furnish information or documents for the purpose of verification of information in his possession. (2) The notice shall be issued under digital signature of the designated authority.

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