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Notifications/Circulars

RBI given power to fix limit for Cash Withdrawal at Counter & from ATM

November 30, 2016 3994 Views 0 comment Print

Cash withdrawal from a bank account over the counter shall be such as may be specified by the Reserve Bank of India from time to time: Provided that cash withdrawal from a current account shall be such as may be specified by the Reserve Bank of India from time to time:

Old 500 Note cannot be used at Petrol Pump and for Air Ticket Purchase wef 03.12.2016

November 30, 2016 5203 Views 1 comment Print

Wef 03.12.2016 Old Rs. 500 notes cannot be used at for purchase of petrol, diesel and gas at the stations operating under authorisation of Public Sector Oil Marketing Companies and at airline ticketing counters at airports for purchase of tickets

Deduction U/s 80IB, 80IC eligible on Transport, Power & Interest subsidies

November 29, 2016 7207 Views 0 comment Print

It is a settled position that revenue subsidies received from the Government towards reimbursement of cost of production/manufacture or for sale of the manufactured goods are part of profits and gains of business derived from the Industrial Undertaking/ eligible business, and are thus, admissible for applicable deduction under Chapter VI-A of the Act.

Continuous disclosures and compliances by InvITs

November 29, 2016 4768 Views 0 comment Print

SEBI (Infrastructure Investment Trusts) Regulations, 2014 prescribe disclosures to be made by an InvIT to the Stock Exchange(s) where its units are listed. The said disclosures, inter-alia, include disclosures for financial as well as non-financial information.

Anti-dumping duty on Axle for Trailers imported from China

November 29, 2016 1843 Views 0 comment Print

Seeks to levy definitive anti-dumping duty on Axle for Trailers originating in, or exported from Peoples Republic of China vide Notification No. 54/2016-Customs (ADD)

Insurance premium cannot be paid in old notes : IRDA

November 29, 2016 979 Views 0 comment Print

It has come to the Authority’s notice that there is a news item floating in the press that the Authority has instructed insurers to accept old Rs. 500 and Rs. 1000 notes for depositing insurance premium.

Customs Rate of exchange of foreign currency WEF 30.11.2016

November 29, 2016 1024 Views 0 comment Print

Notification No.143/2016-Customs (N.T.)- CBEC notifies Rate of exchange of conversion of foreign currency with effect from 30th November, 2016

Courier Imports and Exports (Clearance) Amendment Regulations, 2016

November 29, 2016 1471 Views 0 comment Print

In the Courier Imports and Exports (Clearance) Regulations, 1998 (hereinafter referred to as the said regulations), in the sub-regulation (1) of regulation 6, after the words, brackets and letters Form Courier Shipping Bill-II (CSB-II), the words and letters “Courier Shipping Bill CSB-V,” shall be inserted.

Notification No.141/2016-Customs (N.T.), Dated: 29.11.2016

November 29, 2016 1135 Views 0 comment Print

Regarding appointment of Common Adjudicating Authority- M/s Collective Trade Links, 19, 2nd floor, 133 Narayan Dhuru Street , Mumbai and others

CBDT notifies rules for calculation of time period for Property declared: IDS, 2016

November 29, 2016 9334 Views 0 comment Print

(i) being an immovable property, period for which such property is held shall be reckoned from date on which such property is acquired if date of acquisition is evidenced by a deed registered with any authority of a State Government;

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