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AMCs to prominently disclose TER of all scheme on daily basis: SEBI

February 5, 2018 1224 Views 0 comment Print

t is observed that there are frequent changes carried out in Total Expense Ratio (TER) and such changes are not prominently disclosed to investors. In order to bring uniformity in disclosure of actual TER charged to mutual fund schemes and to enable the investor to take informed decision, the following has been decided:

Amendment in import policy condition of pepper

February 5, 2018 1008 Views 0 comment Print

Import policy of Light black pepper classified under EXIM Code 0904 11 20 under Advance Authorization Scheme is laid down, in partial modification of the Notification No. 42 /2015-20 dated 6th December, 2017.

Designation of Special Court for Company Law offences in Kerala, Lakshadweep, Odisha & Assam

February 5, 2018 1422 Views 0 comment Print

Notification No. S.O. 528(E) High Courts of Kerala, Orissa and Gauhati, hereby designates the following Courts mentioned in column (2) of the Table below as Special Courts for the purposes of providing speedy trial of offences punishable with imprisonment of two years or more under the said sub-section, namely:-

Reg. Implementation of 13-digit numbering scheme for M2M communication

February 5, 2018 25017 Views 2 comments Print

It was decided that 13-digit M2M numbering plan will be implemented from 1st July 2018. From this date on wards, all new M2M mobile connections will be allocated 13-digit numbers only.

DGFT notifies amended procedure for modification in IEC

February 5, 2018 2907 Views 0 comment Print

When an IEC holder seeks modification/ change of Head Office/ Registered Office address in its IEC and which involves a shift in its jurisdictional RA, a request to that effect will have to be made to the new RA, to whose jurisdiction the applicant is shifting its office.

Reconciliation of each payment made by deductor to avoid duplication of work of TDS return

February 4, 2018 6654 Views 0 comment Print

In order to make the process of claim of TDS error free, a system was devised some years ago in 2009 and published vide circular no 2/2009, dated 21.05.2009. The relevant excerpt from the said circular is as follows:

Section 80C deduction can be claimed despite late Return Filing: Do not fall for rumours

February 4, 2018 106581 Views 10 comments Print

Article deal with recent Rumors in Social Media that If Income Tax Return not filed within due date, the entire Chapter VIA deductions will not be allowed which includes some of the Popular deduction i.e. Section 80C, Section 80D, etc. Some have even called it as hidden Bomb of Union Budget 2018. By this article I would like to clarify that Finance Budget 2018 has not made any changes in relation to claim of such deductions.

“Acche Din” in Indian tax regime –Still a distant dream?

February 4, 2018 7359 Views 1 comment Print

Can there really be acche din in a country with taxes? Well, the tax policy of a country bears the answer. The Trump reforms has set a glaring example of how a Sovereign Government can work to prevent base erosion of valuable resources and jobs and make tax heavens a no preferred choice for businesses. That’s an example of Acche Din

Understand the Poor to Understand This Budget

February 4, 2018 1419 Views 1 comment Print

M.J. AkbarIt requires deep reserves of contempt for the poor to dismiss a man who sells savories on the roadside as nothing more than a beggar. The political leader who made such an instinctively disparaging comparison is a stalwart of the Congress Party, former finance minister P. Chidambaram.

Ind AS Transition Facilitation Group Clarification Bulletin 14

February 2, 2018 2736 Views 0 comment Print

As per Ind AS 23, Borrowing Costs, an entity shall capitalize borrowing costs that are directly attributable to the acquisition, construction or production of a qualifying asset as part of the cost of that asset. An entity shall recognize other borrowing costs as an expense in the period in which it incurs them.

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