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Posted On:  9 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:  9 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:  9 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:  9 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:  9 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:  9 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:  9 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:  9 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:  9 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:  9 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:  9 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

Posted On:  9 months ago


Submission of Life Certificate for Pensioners extended to 28.02.2017

The date of submission of life certificate by pensioners under Employees’ Pension Scheme 1995 was extended upto 15.01.2017 vide Head Office letter no. Pension-1/17( 1)2016/jeevan Praman/22750 dated 28.11.2016.

article author One Roof Consultant

Posted On:  9 months ago


Large Pendency of Inspection Reports due in the Directorate of Income Tax (IT)

Status of Inspection Reports due in the Directorate of Income Tax (IT) was recently reviewed. It was observed that the prescribed number of Inspections are not being carried out by the field authorities. This is borne out by the fact that as against 2349 Reports of the Inspections to be carried out during 2015-16 for the work done in 2014-15 that were due to be sent to the Directorate of IT by 15.04.2016, only 599 reports were received till 10.01.2017. While, apart from Kochi (62.3%); Ahmadabad (58.9%); and Guwahati (57.4%)

article author One Roof Consultant

Posted On:  9 months ago


Additional charges in grade of CCIT- Order No. 9 of 2017

The following officers in the grade of CCIT are, hereby, ordered to hold the charge (s) indicated against their names in addition to the substantive charge/ additional charge(s) being held by them, with immediate effect and until further orders:-

article author One Roof Consultant

Posted On:  9 months ago


Import of point of sale (PoS) terminal devices, its cells & batteries and labelling requirements thereof

The government has vide notification No. 35/2016-Central Excise, dated 28.11.16 exempted excise duty on Point of Sale (PoS) devices and also goods required for their manufacture. These devices are already exempted from customs duty. PoS devices are indispensable in a cashless digital payment ecosystem.

article author One Roof Consultant

Posted On:  9 months ago


States can’t dilute Real Estate Act

Minister of Housing and Urban Poverty Alleviation Shri M.Venkaiah Naidu today urged the States and Union Territories to rise to the occasion and implement the Real Estate (Regulation & Development) Act ,2016 from the first of May this year, as proposed in the Act. He addressed a meeting of Chief Secretaries and senior officials of States and UTs convened by the Ministry of HUPA to discuss implementation of the Real Estate Act.

article author One Roof Consultant

Posted On:  9 months ago


Consolidated FDI Policy Circular 2017- Inviting comments from stakeholders

Department of Industrial Policy & Promotion issued a ‘Consolidated FDI Policy Circular (Circular 1 of 2010)‘ on 31/03/2010, compiling all the information on FDI policy at one place. The Circular subsumed all the earlier Press Notes/ Press Releases/

article author One Roof Consultant

Posted On:  9 months ago


Ministry of Finance denies any collaboration with the tainted UK based Note Printing Company

There have been reports in sections of media stating that the Union Government has compromised the national interest by collaborating with a tainted UK based Note Printing Company.

article author One Roof Consultant

Posted On:  9 months ago


Clarification on Indirect Transfer provision under Income Tax Act, 1961

Circular No. 41/2016 was issued on 21.12.2016 which dealt with clarification on Indirect Transfer provisions. After the issue of the aforementioned circular, representations have been received from various FPIs, FIIs, VCFs and other stakeholders.

article author One Roof Consultant

Posted On:  9 months ago


Pass Percentage CA Final Nov 2016. How to Check your Result

ICAI has changed the way to check your CA Final Result for November 2016 exams. Earlier, CA Final results used to be uploaded on icai.nic.in website. However, this time for Nov 2016, the exam results will be made available at http://icaiexam.icai.org/.

article author CA Chirag Chauhan