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Imprisonment with fine to Income Tax Inspector in Bribe Case

June 7, 2016 3103 Views 0 comment Print

The Special Judge, CBI Cases, Patiala House Courts, New Delhi has convicted Sh. Jai Prakash, then Inspector, Income Tax Department, Delhi and sentenced him to undergo four years rigorous imprisonment with fine of Rs. 1.50 lakh.

Warehousing Norms for Agricultural & Agri-Processed Commodities

June 5, 2016 1201 Views 0 comment Print

Consultative Paper on Warehousing Norms for Agricultural & Agri-Processed  Commodities Traded on National Commodity Derivatives Exchanges 1.   Warehousing infrastructure and its ancillary services play a critical role in the delivery mechanism of the Commodity Derivatives Market. A robust &credible warehousing infrastructure is sine qua non for an effective Commodity Derivatives Market that can inspire confidence […]

Paper on amendments to SEBI (Infrastructure Investment Trusts) Regulations, 2014

June 5, 2016 1162 Views 0 comment Print

SEBI (Infrastructure Investment Trusts) Regulations, 2014 (InvIT regulations) were notified on 26th September, 2014, thereby providing a regulatory framework for registration and regulation of InvITs in India. The regulations, inter alia, prescribe conditions for making a public offer and private placement, initial and continuous disclosures, investment conditions, unit-holder approval requirements, related party disclosures, etc.

Integrated Central Excise and Service Tax Audit Manual 2015

June 4, 2016 8896 Views 0 comment Print

As you are aware, the existing Central Excise Audit Manual and Service Tax Audit Manual were last updated in 2008 and 2011 respectively. Over the years the Central Excise and Service Tax statutes have undergone many changes and there have been regular feedback from field formation on the shortcomings in the existing audit manuals.

‘Nexus’ approach to tackle productivity & inequality challenges

June 3, 2016 646 Views 0 comment Print

The Productivity-Inclusiveness Nexus explores the root causes behind each of these challenges, examining the extent to which they are connected, and at how to take a coherent policy response. In particular, it signals the need to expand the productive assets in an economy by investing in the skills of people and in an environment where all firms and regions have a chance to succeed.

Global economy stuck in low-growth trap: OECD

June 3, 2016 709 Views 0 comment Print

The global economy is stuck in a low-growth trap that will require more coordinated and comprehensive use of fiscal, monetary and structural policies to move to a higher growth path and ensure that promises are kept to both young and old, according to the OECD’s latest Global Economic Outlook.

Path to happiness lies in good health and a good job

June 3, 2016 1645 Views 0 comment Print

Being healthy and having a good job are two of the most important ingredients associated with subjective well-being, according to the latest data from the OECD’s Better Life Index.

Generate EVC through ATM

June 3, 2016 3613 Views 0 comment Print

State Bank of India is the first bank to launch this facility which will facilitate its customers, who may not have a net-banking account, to e-verify their return. Other banks are expected to launch this facility.

Change in Common Proficiency Test (CPT) exam Centres

June 3, 2016 1630 Views 0 comment Print

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA [Set up by an Act of Parliament] Important Announcement No.13-CA(Exams)/CPT/June, 2016      Dated: May 31, 2016 The venue for Common Proficiency Test (CPT) to be held on 19th June 2016 (Sunday) has been changed, as given below, for some of the candidates in Aurangabad and Hyderabad centres: Old Centre […]

ICAI President's Message – June 2016

June 3, 2016 1585 Views 0 comment Print

Inclusion of LLP within the definition of eligible start-up for availing the benefit of deduction under the new Section 80-IAC; Section 115BBDA amended to clarify the real intent of law, i.e. to bring to tax in the hands of the recipient the aggregate dividend received in excess of 10 lakh;

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