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Posted On:  11 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:  11 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:  11 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:  11 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:  11 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:  11 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:  11 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:  11 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:  11 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

Posted On:  11 months ago


Stewardship Code for Insurers in India

The growth in the Insurance Industry in recent years has resulted in a significant increase in the Funds of insurance companies. They are also significant investors in the securities markets and act as investors on behalf of the policyholders. There is increased emphasis on governance of public companies under the corporate and insurance law and the role and responsibility of Boards of companies has escalated.

article author One Roof Consultant

Posted On:  11 months ago


Consultation Paper on Amendment to SC(R)(SECC) Regulations, 2012

To solicit views from public on suggestion pertaining to amending the defmition of “Commodity Derivatives Exchange” and “National Commodity Derivatives Exchange” and also” provisions applicable to commodity derivatives exchanges” in the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012 (SECC Regulations) in order to enable trading instruments relating to commodity derivatives including options on commodity derivatives exchanges.

article author One Roof Consultant

Posted On:  11 months ago


Levy of anti-dumping duty, imposed on Saccharine originating in or exported from China

Whereas, the designated authority vide notification 15/23/2016- DGAD, dated the 10th January, 2017, published in the Gazette of India, Extraordinary, Part I, Section 1, dated the 10th January, 2017, has initiated review, in terms of sub-section (5) of section 9A of the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act), and in pursuance of

article author One Roof Consultant

Posted On:  11 months ago


Anti-dumping duty on Nylon Filament extended up to 12.01.2018

Seeks to extend the levy of anti-dumping duty, imposed on Nylon Filament yarn originating in or exported from China PR, Chinese Taipei, Malaysia, Indonesia, Thailand and Korea R.P under notification No. 03/2012-Customs (ADD), dated the 13.01.2012, for a further period of one year from the end date of Anti-Dumping Duty imposed vide Notification No. 03/2012-Customs (ADD), dated 13.01.2012, i.e. upto and inclusive of the 12.01.2018

article author One Roof Consultant

Posted On:  11 months ago


Master Directions on Access Criteria for Payment Systems

A reference is invited to our circular DPSS.CO.OD.494/04.04.009/2011-2012 dated September 21, 2011 prescribing the Access Criteria for Payment Systems. These Master Directions, being issued under Section 10(2) read with Section 18 of Payment and Settlement Systems Act 2007 (Act 51 of 2007), consolidate and update all the instructions issued on the subject up to December 31, 2016 and placed on the web-site of the Reserve Bank of India (www.rbi.org.in

article author One Roof Consultant

Posted On:  11 months ago


Rate of exchange of conversion of foreign currency WEF 20.01.2017

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No. 1/2017-CUSTOMS (N.T.), dated 05th January, 2017, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto,

article author One Roof Consultant

Posted On:  11 months ago


CDEX Investor (Client) Protection Fund Trust U/s. 10(23EC) notified by CBDT

In exercise of the powers conferred by sub-section (23EC) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the NCDEX Investor (Client) Protection Fund Trust (PAN: AABTN7481R) set up by the National Commodity and Derivatives Exchange Limited, Mumbai a commodity exchange, for the purposes of the said clause for the assessment year 2013-14 and subsequent assessment years.

article author One Roof Consultant

Posted On:  11 months ago


Analysis of CAP-II reports regarding the no. of assessees, filing of returns etc. and the discrepancy in the reports as on 31/12/2016

The analysis of the CAP-II reports shows various serious discrepancies regarding the of assessees, filing of e-returns and paper returns and the total no. of returns filed which was also indicated in the earlier letter of the Pr. DGIT(Logistics) as referred above(copy enclosed).

article author One Roof Consultant

Posted On:  11 months ago


Digital payment promotion gets a boost

The Government’s efforts to give a boost to the digital payment systems and the cashless economy, post-demonetization have generated enthusiastic response from the people. People from different age groups, occupations and different walks of life have taken part in a big way in the Lucky Grahak Yojana and Digi-dhan Vyapar Yojana giving a fillip to digital transactions.

article author One Roof Consultant

Posted On:  11 months ago


CBDT issues a set of 12 FAQs on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity to declare such income and pay tax, surcharge and penalty totalling in all to 49.9 percent of such declared income and make a mandatory deposit of not less than 25% of such income in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016

article author One Roof Consultant

Posted On:  11 months ago


Enhancement of minimum import price on Areca nuts to Rs. 251/- per Kg

S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the Import Policy Conditions of arecanut under Exim Code 0802 80 of Chapter 8 of ITC (EIS) 2012, Schedule 1 (Import Policy) as under:

article author One Roof Consultant