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Admin charges payable by employer on EPF wef 01.04.2017

March 15, 2017 14169 Views 2 comments Print

CG fixes administrative charges payable by the employer for the purposes Employee Provident Fund Scheme with effect from 1st April, 2017 at 0.65 per cent (zero point six five per cent.) of the pay as referred to in said paragraphs subject to a minimum sum of seventy-five rupees per month for every non-functional establishment having no contributory member and five hundred rupees per month per establishment for other establishments.

Enemy Property (Amendment and Validation) Act, 2017

March 14, 2017 4095 Views 0 comment Print

(1) This Act may be called the Enemy Property (Amendment and Validation) Act, 2017. (2) Save as otherwise provided in this Act, it shall be deemed to have come into force on the 7th day of January, 2016.

Section 269SS and 269T applicable to NBFC: RBI

March 9, 2017 23796 Views 0 comment Print

Section 269SS and 269T of the Income Tax Act, 1961, the requirements under the Income Tax Act, 1961, as amended from time to time, would be applicable to all NBFCs with immediate effect. Currently, the relevant threshold under the Income Tax Act, 1961 is Rupees Twenty thousand.

Aadhaar mandatory for Science &Technology department schemes with few relaxations

March 9, 2017 942 Views 0 comment Print

In case, the beneficiaries of the Schemes are not able to enrol for Aadhaar due to non-availability of enrolment centres within near vicinity such as in Block or Taluka or Tehsil, the Department through its Implementing Agencies is required to create Aadhaar enrolment facilities at convenient locations, and the beneficiaries can be requested to register their requests for Aadhaar enrolment by giving their names, addresses, mobile numbers along with other documents as specified in the proviso to sub-paragraph (3) of paragraph 1, with the concerned official of the Implementing Agencies or through the web portal provided for the purpose.

Formation of 7 new districts in Manipur: Assignment of Lead Bank

March 9, 2017 1044 Views 0 comment Print

The Government of Manipur vide Gazette Notification dated December 8, 2016 had notified the creation of seven new districts in the State of Manipur. It has been decided to assign the lead bank responsibility of the seven new districts as detailed below

100% FDI in e-commerce sites via automatic route allowed

March 9, 2017 1098 Views 0 comment Print

These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2017. They shall come into force from the date of their publication in the Official Gazette.

How to apply PAN through SPICe Form No. INC-32

March 9, 2017 4950 Views 0 comment Print

Procedure of PAN application through Simplified Profoma for Incorporating Company Electronically (SPICe) (Form No. INC-32) of Ministry of Corporate Affairs.

Amendment in Service Tax Exemption to Educational Institutions WEF 01.04.2017

March 8, 2017 40029 Views 0 comment Print

Provided that nothing contained in clause (b) of this entry shall apply to an educational institution other than an institution providing services by way of pre-school education and education up to higher secondary school or equivalent

Aadhaar mandatory for Benefits under Bonded Labour Rehabilitation Scheme with relaxation

March 6, 2017 891 Views 0 comment Print

An individual eligible to receive the benefits under the Bonded Labour Rehabilitation Scheme hereby, is required to furnish proof of possession of Aadhaar number or undergo Aadhaar authentication.

RBI Instruction on Reporting Banks on Gold Monetisation Scheme transactions

March 6, 2017 942 Views 0 comment Print

In order to have uniformity in reporting, reconciliation and accounting, agency banks may report the Gold Monetisation Scheme transactions i.e., receipt, payment, penalty, interest, commission for mobilisation, handing charges, etc., directly through the government account maintained for the purpose at Central Accounts Section, Reserve Bank of India, Nagpur, on a daily basis as in the case of the transactions of Public Provident Fund (PPF) Scheme, 1968. You may, therefore, approach our Central Accounts Section, Reserve Bank of India, Nagpur for necessary arrangements to report Gold Monetisation Scheme transactions with immediate effect.

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