Union Budget proposes creation of a social stock exchange- under the regulatory ambit of Securities and Exchange Board of India (SEBI) for listing social enterprises and voluntary organizations Government to take up necessary measures for inter-operability of RBI depositories and SEBI depositories Creation of a social stock exchange has been proposed by the Union Minister […]
Public Sector Banks proposed to be provided Rs 70,000 crore capital to boost credit Government will provide one time six months’ partial credit guarantee to Public Sector Banks for first loss of up to 10% Appropriate proposals for strengthening regulatory authority of RBI over NBFCs being placed in Finance Bill Public Sector Banks are to […]
Union Budget proposes number of measures to enhance the sources of capital for infrastructure financing Credit Guarantee Enhancement Corporation to be set up in 2019-20 An action plan to deepen the market for long term bonds to be put in place A Credit Guarantee Enhancement Corporation is to be set up in 2019-20. This was announced by […]
Economic Survey 2018-19: General Government (Centre plus States) has been on the path of fiscal consolidation. Economy expected to grow at 6.8 per cent in 2018-19. Fiscal Deficit of 3% of GDP by FY2020-21 & Central Government debt to 40% of GDP by 2024-25 Targeted. Improving Quality of Expenditure is key Priority; Broadening and Deepening the Direct Tax base and Stabilization of Goods and Services Tax are the Other Priorities. Total Transfers to States rose by 1.2 %age points of GDP from 2014-15 to 2018-19 RE.
1. Some veterans have highlighted the case of Maj Gen Ian Cardozo (Retired) to express resentment against the recent directive to not allow tax exemption for disability pension. 2. Disability is granted to personnel who are disabled in combat or, during peace time and their disability is attributable to service conditions. The latter have some […]
A total of 29 sections were amended and 2 new sections were inserted through the earlier ordinances, which were promulgated on 2nd November, 2018 (Ordinance 9 of 2018) and on 12th January, 2019 (Ordinance 3 of 2019). -The Companies (Second Amendment) Ordinance 2019 was issued by the Government on 19th February, 2019 -It is based on […]
CESTAT Chennai has allowed Cenvat credit on product liability insurance availed by the manufacturer for covering the risk of manufacturing defect arising in finished products. The Tribunal for this purpose observed that the insurance was directly connected with manufacturing activity and was also an input service used in relation to manufacture of finished products.
ITO Vs M/s Ninja Securities Pvt. Ltd. (ITAT Mumbai) The assessee case does not fall under the above category of genuine client code modifications allowed by NSE as we have seen that in large number of client code modifications, there are no similarity between wrong code and correct code and secondly there are repetitive client […]
Time Media & Entertainment LLP Vs ITO (ITAT Mumbai) In this case there was an unusual and sudden spurt in client code modifications in the month of March 2010 undertaken by Brokers in Stock Exchanges. The assessee had also suffered F&O Loss of Rs.31,98,597.50 through Broker Inventure for transactions undertaken through NSE in the month […]
Import of ‘Walnuts in any form’ is placed under Appendix 4J with pre-import condition and reduced EO period under Advance authorizaton with immediate effect.
