A. Overseas Investment by Venture Capital Funds (VCFs) registered under SEBI (Venture Capital Funds) Regulations, 1996) VCFs registered under erstwhile SEBI (Venture Capital Funds) Regulations, 1996 are permitted to invest in Offshore Venture Capital Undertakings, which have an Indian connection, upto 10% of the investible funds of a VCF in terms of the SEBI circular no. SEBI/VCF/Cir no.1/98645/2007 dated August 09, 2007.
Following curbs have been introduced by Indian Railways on online train ticketing to inter-alia keep a check on the activities of unscrupulous elements including touts: i. There is a restriction of only one booking in one user login session and forced logging out of the user before another booking while booking of tickets between 0800 […]
Section 80DD of the Income Tax Act, 1961, inter alia, provides for a deduction to an individual or HUF, who is a resident in India, and • Incurs expenditure for the medical treatment (including nursing), training and rehabilitation of a dependant, being a person with disability; or • Pays any amount to LIC or any […]
Increase in Number of Tax Payers in the Last Three Years The numbers of taxpayers have increased in the country during the last three years. The number of income-tax assessees (taxpayers) for past three years is as under: Assessment year Number of assessees* 2011-12 43867006 2012-13 47868755 2013-14 51085906** *the data is based on the […]
The Government of India is implementing a scheme by name ‘NIRAMAYA’ through which the handicapped and mentally challenged persons are covered for medical treatment upto Rs. 1 lakh. Aam Admi Bima Yojana (AABY) is also a Government Social Security Scheme being administered through Life Insurance Corporation of India (LIC)
The provisions of section 125 and section 132 of the Companies Act, 2013 respectively provide details about the constitution, powers and responsibility of the Investor Education and Protection Fund Authority (IEPFA) and National Financial Reporting Authority (NFRA). These sections are yet to be notified.
April 23, 2015 ICSI ISSUES SECRETARIAL STANDARDS APPROVED BY THE CENTRAL GOVERNMENT ICSI is the pioneer and the only institution in the world so far to have issued secretarial standards TO BE EFFECTIVE FROM JULY 1, 2015 New Delhi, 23 April 2015: Section 118(10) of the Companies Act, 2013 mandates companies to observe Secretarial Standards […]
Facility for Filing Online Single Return to be Launched Tomorrow The facility for filing Single Online Common Return under 8 Central Labour Acts / Rules on the ShramSuvidha Portal will be launched tomorrow. This service will reduce the transaction costs of business and make it easy and convenient to meet their obligations.
‘Operation Five Minutes’ – Now Unreserved Ticketing on your Mobile Phone – Suresh Prabhu Launches Mobile App for Paperless Unreserved Ticketing Fulfilling yet another commitment of the Railway Budget 2015-16, the Minister of Railways Shri Suresh Prabhakar Prabhu launched Mobile Application for Paperless Unreserved Ticketing through video conferencing on Egmore–Tambaram Suburban Section of Chennai, at […]
NSDL has released on 20.04.2015 e-TDS/TCS File Validation Utility (FVU) version 4.6 for quarterly e-TDS/TCS statements from FY 2010-11 and onwards. Key Features – File Validation Utility (FVU) version 4.6 Quoting of PAN of responsible person for deducting/ collecting tax. Quoting of AIN mandatory only if the TDS/TCS has been deposited by book entry i.e., […]
