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President assents Banking Regulation (Amendment) Ordinance, 2017 on NPA

May 4, 2017 1623 Views 0 comment Print

Banking Regulation (Amendment) Ordinance, 2017 enables the Union Government to authorize RBI to direct banking companies to resolve specific stressed assets (NPA)

Lieutenant Governor to exercise Power under Real Estate Act 2016 in Delhi

May 4, 2017 597 Views 0 comment Print

Powers of the appropriate Government under Real Estate (Regulation and Development) Act, 2016 (16 of 2016) shall, subject be exercised, in relation to Delhi, by the Lieutenant Governor thereof.

CBDT notifies Rule 21AD & Forms No. 10B for exercising Option u/s 115BA(4)

May 2, 2017 4278 Views 0 comment Print

21AD. Exercise of option under sub-section (4) of section 115BA. (1) The option to be exercised in accordance with the provisions of sub-section (4) of section 115BA by a person, being a domestic company, for any previous year relevant to the assessment year beginning on or after the 1st day of April, 2017, shall be in Form No. 10-IB.

Rajasthan Real Estate (Regulation and Development) Rules, 2017

May 1, 2017 4788 Views 0 comment Print

In exercise of the powers conferred by section 84 of the Real Estate (Regulation and Development) Act, 2016 (Central Act No.16 of 2016), the State Government, hereby makes the Rajasthan Real Estate (Regulation and Development) Rules, 2017.

Himachal Pradesh Value Added Tax (Fifth Amendment) Rules, 2017

April 29, 2017 1758 Views 0 comment Print

In Rule 50 of the Himachal Pradesh Value Added Tax Rules 2005, in sub- rule (3) and in para No. 6 of the application Form L- 2 for the words twenty five, the word thirty, shall be constituted

Notification No. 35/2017-Income Tax, Dated: 28.04.2017

April 28, 2017 237 Views 0 comment Print

S.O. 1359(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Odisha Electricity Regulatory Commission, a commission constituted by the State Government of Odisha, in respect of the following specified income arising to that Commission, namely:—

Notification No. 34/2017-Income Tax, Dated: 28.04.2017

April 28, 2017 1737 Views 0 comment Print

CBDT notifies Shri Ram and Ramdas Swami Samadhi Temple (Mandir) & Ramdas Swami Math at Sajjangad Distt. Satara, Maharashtra, to be place of historic importance and a place of public worship of renown throughout the state of Maharashtra

CBDT notifies National Skill Development Agency U/s. 10(46)

April 28, 2017 759 Views 0 comment Print

Section 10(46) of Income Tax Act, 1961-CBDT notifies National Skill Development Agency, a body constituted by the Central Government in respect of the following specified income arising to that body,

Requirement of Net Owned Fund for Asset Reconstruction Companies

April 28, 2017 1458 Views 0 comment Print

No Asset Reconstruction Company shall commence or carry on the business of securitisation or asset reconstruction without having Net Owned Fund (hereinafter referred to as NOF) of not less than Rupees two crore or such other higher amount as the Reserve Bank may, by notification, specify.

NOF for ARCs shall be minimum Rupees One Hundred Crore

April 28, 2017 567 Views 0 comment Print

Reserve Bank of India hereby specifies that the Net Owned Fund (NOF) for Asset Reconstruction Companies (ARCs) shall be minimum Rupees One Hundred Crore on an ongoing basis with effect from the date of this Notification.

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