Prime Minister Narendra Modi has boldly taken strong steps of Demonetization for unearth undesired Black Money. Naturally, those who are effected chunk who are holding huge cash will attempt all their means to get rid of them.
On and from the date of commencement of this Act, every public servant shall make a declaration of his assets and liabilities in such form and manner as may be prescribed
Seeks to amend Place of Provision of Services Rules, 2012 so as to exclude ‘online information and database access or retrieval services’ from the definition of ‘telecommunication services’.
SBNs deposited in the currency chests, since November 10, 2016 will be considered as part of the chest balance in the soiled note category but such deposits will not be reckoned for calculating Chest Balance Limit / Cash Holding Limit.
With a view to protect the innocent farmers and rural account holders of PMJDY from activities of money launders and legal consequences under the Benami Property Transaction & Money Laundering laws, it has been decided to place certain limits, as a matter of precaution, on the operations in the PMJDY accounts funded through deposits of Specified Bank Notes (SBNs)
Indian accountancy profession has been acting responsibly offering its complete support to the Government of India in its initiatives, particularly those relating to economy.
Section 158BC(c): Where any search has been conducted under section 132 or books of account, other documents or assets are requisitioned under section 132A, in the case of any person
The Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (SICSPRA) shall come in force from December 01, 2016 vide notification issued in official gazette on November 25, 2016.
Income declared under this scheme will attract tax of 30% plus 33% surcharge on tax ( known as ‘Pradhan Mantri Garib Kalyan Cess’ ) plus penalty equal to 10% of undisclosed income which will be equal to 50% of undisclosed income.
Before we move on to understand the glitches that are faced at the time of migration, let us analyze the criteria that your company must consider to gauge whether a New Accounting System is indeed desirable.
