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Draft Notification on foreign company resident in India U/s. 115JH

June 15, 2017 2019 Views 0 comment Print

CBDT invites comments and suggestions on the Draft Notification in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961

Maharashtra Goods and Services Tax Act, 2017

June 15, 2017 21588 Views 0 comment Print

In pursuance of clause (3) of article 348 of Constitution of India, following translation in English of Maharashtra Goods and Services Tax Act, 2017 (Mah. Act No. XLIII of 2017), is hereby published under authority of Governor.

Interest and Dividend reporting under Income Tax of Custodial A/cs

June 15, 2017 1158 Views 0 comment Print

In terms of Rule 114G(1)(e)(i) of Income Tax Rules, 1962 issued under Section 285BA of Income Tax Act, 1961 following information is required to be reported by reporting financial institution in the case of reportable custodial account:-

Fine for non compliance with SEBI ICDR Regulations (Read Circular)

June 15, 2017 2649 Views 0 comment Print

Regulations 111A and 111B of ICDR Regulations inter alia specify liability of a listed entity or any other person for contravention and actions which can be taken by the respective stock exchange and the revocation of such actions, in the manner specified by SEBI.

CBI clarifies on Extradition of fugitive Vijay Mallya

June 15, 2017 1026 Views 0 comment Print

As the fugitive Mallya has been in London since March 2016, the request for Extradition of Vijay Mallya was forwarded on 09.02.2017 to UK authorities through diplomatic channels. The extradition dossier contained details of evidence including the charge sheet filed u/s 173 Cr.PC. along with relied upon documents and non-bailable warrant of arrest.

Rate of exchange of conversion of foreign currency WEF 16.06.2017

June 15, 2017 1335 Views 0 comment Print

CBEC hereby determines that the rate of exchange of conversion of each of the foreign currencies into Indian currency or vice versa, shall, with effect from 16th June, 2017

NCLT can allow Compounding of offence despite advanced stage of prosecution

June 14, 2017 4959 Views 0 comment Print

the issue to be decided in the present case is whether the National Company Law Tribunal is having power to allow the applicants to compound the offence in question, especially when prosecution was already initiated and the same is in advance stage.

Post-implementation Review – IFRS 13 Fair Value Measurement

June 14, 2017 993 Views 0 comment Print

The IASB has issued a request for stakeholders to tell the Board about their experience with the accounting standard that explains how to measure the ‘fair value’ of assets and liabilities, IFRS 13. The aim is to check whether the Standard meets its objectives.

A person can be both trader and investor in respect of shares

June 14, 2017 1605 Views 0 comment Print

It is a well settled proposition that the question as to whether a person has acted as a trader or as an investor in respect of share transactions, has to be decided on the basis of various factors listed out by the CBDT and Honourable Courts.

Anti-dumping duty on Soluble Salt Double Charge, GVT & PGVT, Porcelain/ Vitrified Tile

June 14, 2017 1425 Views 0 comment Print

Seeks to impose anti-dumping duty on Soluble Salt Double Charge, GVT and PGVT, Porcelain/ Vitrified Tiles with less than 3 water absorption and All sizes originating in or exported from the China PR for a period of five years (unless revoked, amended or superseded earlier) from the date of imposition of the provisional anti-dumping duty, that is, the 29th March,2016, imposed vide Notification number 12/2016 dated the 29th March, 2016

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