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Draft Companies (Prospectus and allotment of Securities) Amendment Rules, 2018

February 15, 2018 2703 Views 0 comment Print

Suggestions/ comments on the draft rules along with justifications in brief may be sent latest by 07.03.2018 through email at comments pvt.place@mca.gov.in It is requested that the name, contact number, email address and postal address of the sender be indicated clearly at the time of sending suggestions/comments in the following format

Snapshot on Insider Trading

February 15, 2018 4158 Views 0 comment Print

SEBI has been constantly focusing on developing and regulating the Indian capital market to boost the investor’s confidence. One of its steps was towards replacing the two decade old insider trading norms by notifying the SEBI (Prohibition of Insider Trading Regulations) 2015

Banks branches must accept coins tendered for exchange or for deposit in Accounts: RBI

February 15, 2018 1560 Views 0 comment Print

Reserve Bank continues to receive complaints about non-acceptance of coins by bank branches. Such denial of service has reportedly, in turn, led to refusal on the part of shopkeepers and small traders, etc., to accept coins as payment for goods sold and services rendered causing inconvenience to the public at large.

SEBI eases access norms for investment by Foreign Portfolio Investors

February 15, 2018 888 Views 0 comment Print

SEBI in consultation with stakeholders has decided to make following changes in extant regulatory provisions to ease the access norms for investment by Foreign Portfolio Investors (FPIs)

Procedure to obtain CST declarations for period starting from 01/04/2016

February 14, 2018 27594 Views 1 comment Print

he dealers registered under the CST Act, 1956, on or after 25.05.2016 can apply for eCST declarations for the periods starting from 01.04.2016 on the SAP System available on the web Portal mahagst.gov.in. The process of raising, downloading and cancelling CST declarations has been explained in Trade Circular No 8T of 2017.

Expense of Corporate Membership of Director is allowable Expenditure

February 14, 2018 15405 Views 0 comment Print

Many clubs allow membership to companies or other business entities. The membership is given in name of company or other concern. It is very well known that the clubs are a platform to meet people.

Fees for use of Software is revenue in nature and allowable U/s. 37

February 13, 2018 2559 Views 0 comment Print

License fee, Connectivity charges and co-ordination charges paid to a US based company GE Capital Corporation for use of ‘Vision Plus’ software held to be revenue in nature and allowable under section 37

Exposure Draft of Ind AS 117, Insurance Contracts

February 13, 2018 1878 Views 0 comment Print

Following is the Exposure Draft of Ind AS 117, Insurance Contracts, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. The Board invites comments on any aspect of this Exposure Draft.

CBDT notifies Government e-Marketplace (GeM) U/s. 138 of Income-tax Act

February 12, 2018 10854 Views 2 comments Print

Central Government, hereby specifies Chief Executive Officer, Government e Marketplace (GeM) for purposes of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of Income-tax Act, 1961

CBDT notifies important procedural aspects while conducting e-assessment

February 12, 2018 22050 Views 3 comments Print

Some of the important procedural aspects while conducting assessment proceedings through ‘E-Proceeding’ are as under: 4.1 Enquiry before assessment in electronic mode: For enquiries before assessment in terms of section 142(1)(ii) of the Act, notice shall be issued electronically and delivered upon the assessee in his ‘E-Filing’ account. While filing the response electronically in compliance with notice under section 142(1)(ii) of the Act, the concerned assessee shall verify it in the manner prescribed under Rule 14 of Income-tax Rules, 1962.

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