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Govt servants to get Salary directly in bank Account

April 27, 2017 1539 Views 0 comment Print

All payments to Government servants, including salary payments, shall be made by electronically signed payment advices for direct credit to their bank accounts, subject to availability of banking facilities:

EPF: Medical certificate not required for advance for illness and to physically handicapped members

April 27, 2017 7719 Views 0 comment Print

A member would only be required to submit a self-declaration, which has already been included in the Composite Claim Form, to avail advance from the provident fund for illness in certain A member would no longer be required to submit any medical certificate or any other certificate or document or any proforma whatsoever to avail advance under paragraph 68-J.

IRDA (Appointed Actuary) Regulations, 2017

April 27, 2017 9363 Views 0 comment Print

An insurer registered to carry on insurance business in India shall, subject to sub-regulation (B) and sub-regulation (F) appoint an actuary, who shall be known as the ‘Appointed Actuary’ for the purposes of the Act.

RBI notifies Role of Chief Risk Officer (CRO)

April 27, 2017 1698 Views 0 comment Print

As part of effective risk management, banks are required, inter-alia, to have a system of separation of credit risk management function from the credit sanction process. However, it is observed that the banks follow diverse practices in this regard.

Govt mandates Aadhaar for UGC AICTE Fellowship

April 26, 2017 948 Views 0 comment Print

Govt mandates Aadhaar for (i) Emeritus Fellowship; (ii) Dr. D.S. Kothari Post Doctoral Fellowship in Sciences;(iii) Post Doctoral Fellowship for Women; (iv) Dr. S. Radhakrishnan Post Doctoral Fellowship in Humanities and Social Sciences (Including Languages);

EPFO Introduces real time system in EPFO Default management

April 25, 2017 2010 Views 0 comment Print

EPFO has introduced the ECR 2.0 for online collection of remittances through multi-banking. After introduction of the Unified Portal system for remittance of contributions, real time monitoring of the remittance position of the establishments has become a reality.

Govt mandated Aadhaar for FAME-India Scheme

April 25, 2017 1923 Views 0 comment Print

Department of Heavy Industry is administering the Central Sector Scheme of incentive to the consumers for purchase of Hybrid & Electrical Vehicles under the Faster Adoption and Manufacturing of (Hybrid and) Electrical Vehicles in India (FAME-India) Scheme (hereinafter referred to as the Scheme);

Govt. notifies Insurance Ombudsman Rules, 2017

April 25, 2017 8919 Views 0 comment Print

These rules shall be called the Insurance Ombudsman Rules, 2017. The objects of these Rules is to resolve all complaints of all personal lines of insurance, group insurance policies, policies issued to sole proprietorship and micro enterprises on the part of insurance companies and their agents and intermediaries in a cost effective and impartial manner.

DGFT amends Table A of Schedule 2 & Appendix 3 of ITC(HS)

April 24, 2017 3912 Views 0 comment Print

In exercise of the powers conferred by Section 5 and Section 14A of the Foreign Trade (Development & Regulation) Act, 1992 (No.22 of 1992) read with Para 1.02 of the Foreign Trade Policy, 2015-2020, as amended, and in supersession of DGFT Notification No.38 (RE-2010) /2009-2014 dated 31st March, 2011, Notification no. 93(RE-2012)/2009-14 dated 6th January 2012

Sec. 115TD(2) Valuation Method -Accreted Income of Certain Trusts

April 21, 2017 9777 Views 0 comment Print

For the purpose of sub-section (2) of section 115TD of the Act, the aggregate fair market value of the total assets of the trust or institution, shall be the aggregate of the fair market value of all the assets in the balance sheet as reduced by-

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