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Posted On:  9 months ago


Comprehensive Economic Partnership Agreement between India-Japan

circumstances in which there is clear evidence that increased imports of an originating good have caused or are threatening to cause serious injury to the domestic industry and where delay in imposition of provisional bilateral safeguard measure would cause damage to the domestic industry which would be difficult to repair; (b) “Director General” means the Director General (Safeguard) appointed by the Central Government under sub-rule (1) of rule 3 of the Customs Tariff (Identification and Assessment of Safeguard Duty) Rules, 1997;

article author One Roof Consultant

Posted On:  9 months ago


Prohibition on Indian Party from making direct investment in countries identified by the Financial Action Task Force (FATF)

Attention of the Authorised Dealer Category – I (AD – Category I) banks is invited to Regulation 6 of FEMA Notification No. FEMA.120/RB-2004 dated July 07, 2004, as amended from time to time. 2. At present, there is no restriction on an Indian Party with regard to the countries, where it can undertake Overseas Direct Investment. In order to align, the instructions with the objectives of FATF, on a review,

article author One Roof Consultant

Posted On:  9 months ago


Coverage of Contract Workers on Indian Railways under the EPF & MP Act, 1952

Please find enclosed herewith a letter No. E(LL)2015/PNM/AIRF/1 dated 20.10.2015 alongwith a letter No.2012/CE-I/CT0/22 dated 14.12.2012 and E(NG)/II/2005/RC4/SC/2 dated 21.06.2013 issued to the General Manager (P) All Zonal Railways & Production Units.

article author One Roof Consultant

Posted On:  9 months ago


Applicability of the EPF & MP Act, 1952 on State/District Health Societies under NRHM

Please find enclosed herewith a list of National Health Mission’s Directors obtained from the website of NRHM http://nrhm.gov.inicontact/list-of-mission-directors.  The mission Directors need to be contacted for coverage of State/District Health Societies under the ambit of the EPF & MP Act, 1952.

article author One Roof Consultant

Posted On:  9 months ago


Classification of articles of paper and printing industry

Representations have been received from trade associations that consequent upon insertion of Chapter note 14 (w.e.f 28.05.2012) to the Chapter 48 of Central  Excise Tariff Act, 1985 disputes have cropped up in respect of classification of  certain articles of paper and printing industry. Also, reports received from field formations suggest that there is divergent practice of assessment of these goods.

article author One Roof Consultant

Posted On:  9 months ago


Latest amendment in Maternity Benefits under ESIC

Whereas draft rules further to amend the Employees’ State Insurance (Central) Rules, 1950 were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) vide number G.S.R. 958(E), dated the 6th October, 2016, as required under sub-section (1) of section 95 of the Employees’ State Insurance Act, 1948(34 of 1948), inviting objections and suggestions from all persons likely to be affected thereby before the expiry of a period of thirty days from the date on which

article author One Roof Consultant

Posted On:  9 months ago


Reduction of Government litigation – providing monetary limits for filing appeals by the Department before CESTAT

In exercise of the powers conferred by Section 35R of the Central Excise Act,1944 made applicable to Service Tax vide Section 83 of the Finance Act,1994 and Section 131BA of the Customs Act,1962 and in partial modification of earlier instruction issued from F.No. 390/Misc./163/2010- JC dated 17.12.2015, Central Board of Excise & Customs fixes the monetary limit below which appeal shall not be filed in the High Court as Rs.20,00,000

article author One Roof Consultant

Posted On:  9 months ago


Guiding Principles for determination of Place of Effective Management (POEM) of a Company

Section 6(3) of the Income-tax Act, 1961 (the Act), prior to its amendment by the Finance Act, 2015, provided that a company is said to be resident in India in any previous year, if it is an Indian company or if during that year, the control and management of its affairs is situated wholly in India. This allowed tax avoidance opportunities for companies to artificially escape the residential status under these provisions by shifting insignificant or isolated events related with control and management outside India.

article author One Roof Consultant

Posted On:  9 months ago


Transfer of unlisted shares by SEBI Category I & II Alternative Investment Funds

Vide order dated 02.05.2016 in F.No.225/12/2016/ITA.II, the Central Board of Direct Taxes (‘the Board’) had clarified the position regarding tax treatment of income arising from transfer of unlisted shares. It was communicated that income from such a transfer would be taxable as ‘Capital Gains’ irrespective of the period of holding of the unlisted shares. However, certain situations were provided in para 3 of the said order where the Assessing Officers were required to take appropriate view in the matter.

article author One Roof Consultant

Posted On:  9 months ago


Grant of Transport Allowance at double the normal rates to deaf and dumb employees of Central Government

In supersession of this Department 0.M.No.21(2)/2011-E-11(B) dated 19.02.2014 regarding admissibility of Transport Allowance at double the normal rates to employees who are deaf and dumb, the undersigned is directed to say that the matter has been re-examined and it has been decided with the approval of Competent Authority that Transport Allowance at double the normal rates is admissible to Hearing Impaired employees also in addition to employees who are both deaf and dumb.

article author One Roof Consultant

Posted On:  9 months ago


Rectification of mistakes in CBDT circular related to TDS on Salary

In para 3.6.1 in clause (a) below the table at page 4 of the captioned Circular, the words -3 years” appearing in line 1 may be read as “5 years”. 2. The table in para 4.9.1 on page 9 of the captioned Circular may be read as under:

article author One Roof Consultant

Posted On:  9 months ago


Instructions on sealed cover procedure – where Government servant has been acquitted but appeal is contemplated/pending`

The undersigned is directed to refer to this Department’s O.M. No.22011/4/91-Estt.A dated 14.09.1992 issued in the light of the Judgement dated 27.08.1991 of the Hon’ble Supreme Court in the case of Union of India v/ s K.V. Jankiraman etc. (AIR 1991 SC 2010). References have been received seeking clarification with regard to the course of action in cases where the Government servant is acquitted by trial court but an appeal against the judgment is either contemplated or has been filed.

article author One Roof Consultant

Posted On:  9 months ago


Definition of Principal place of business, Proper Officer and Services

Taking further to our discussion, we are continuing our discussion the definitions  given under Section 2 of revised GST law and comparing the same with old model GST law to know the changes made in revised law

article author CA PRADEEP JAIN

Posted On:  9 months ago


Varishtha Pension Bima Yojana 2017 with guaranteed 8% return

Cabinet today approved a pension scheme for senior citizens under which Life Insurance Corporation of India (LIC) will provide a guaranteed return of 8 per cent for 10 years. This is part of government’s social security and financial inclusion programme.

article author CA Chirag Chauhan

Posted On:  9 months ago


Interest rate on special deposit for non Govt PF Funds

It is hereby notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and Gratuity Funds, announced in the Ministry of Finance (Department of Economic Affairs)

article author One Roof Consultant

Posted On:  9 months ago


Measures for reducing litigation- Clarification on Circulars 21/2015 and 8/2016

Instructions were issued vide CBDT Circular No. 21/2015 dated 10.12.2015, to the effect that appeals/SLPs should not be filed in cases where tax effect does not exceed the monetary limits specified under para 3 of the said Circular. It was also clarified therein that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed in the said Circular.

article author One Roof Consultant

Posted On:  9 months ago


Circular in abeyance kept by CBDT regards Indirect Transfer Provision

The Central Board of Direct Taxes had issued Circular No. 41/2016 on 21st December,2016 regarding Indirect Transfer Provisions under the Income Tax Act, 1961.

article author One Roof Consultant

Posted On:  9 months ago


Donald Trump sworn in as 45th US President. Read the Complete inaugural Speech

Friends, delegates and fellow Americans: I humbly and gratefully accept your nomination for the presidency of the United States. Together, we will lead our party back to the White House, and we will lead our country back to safety, prosperity, and peace. We will be a country of generosity and warmth. But we will also be a country of law and order.

article author One Roof Consultant

Posted On:  9 months ago


Criteria for Eligibility, Retention and re-introduction of derivative contracts on Commodities

The nature/properties of one commodity differs from another, thereby not all commodities may be suitable for the commodity derivatives trading. It is prudent that before allowing any derivatives contract on any commodity, the appropriateness / usefulness of commencing futures trading in products (not necessarily of just commodities), needs to be ascertained.

article author One Roof Consultant

Posted On:  9 months ago


Fair and transparent access to data feeds of stock exchanges

SEBI in consultation with the Technical Advisory Committee (TAC) of SEBI had reviewed the market data feed mechanism of the stock exchanges. Based on the recommendations of SEBI’s Technical Advisory Committee (TAC), it has been decided that stock exchanges shall formulate a comprehensive policy document for providing stock market related data to the market participants in a fair and transparent manner, irrespective of the type of mechanism used by the stock exchanges for broadcasting of data.

article author One Roof Consultant