Legal Updates - Corporate Law Reporter

Non-enforcement of recovery of demand against the assessee where tax has been deducted but not deposited by the deductor

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11 th March, 2016 Subject: - Non-enforcement of recovery of demand against the assessee where tax has been deducted but not deposited by the deductor - regarding The Central Board of Direct Taxes had issued directions to… Read More

Cost of Advertising Cannot be added to the Assessable Value Unless It Is Recovered from the Dealers Mandatorily as a Condition of Dealership – Cestat, Mumbai

COST OF ADVERTISING CANNOT BE ADDED TO THE ASSESSABLE VALUE UNLESS IT IS RECOVERED FROM THE DEALERS MANDATORILY AS A CONDITION OF DEALERSHIP - CESTAT, Mumbai A. Brief Facts of the Case: 1.1 The appellants are manufacturer of excisable goods and were selling the products to various distributors and dealers. The appellants had… Read More

Consequent to the introduction of Swachh Bharat Cess, changes made in the ST-3 return form

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs New Delhi, the 8 th March, 2016 18 Phalguna, 1937Saka Notification No. 20/2016-Service Tax G.S.R..... (E). - In exercise of the powers conferred by sub-sections… Read More

The Minutes of the Meeting of Committee for Technical and Financial Evaluation for selection of IT Application Development services Agency for startup India

The Minutes of the Meeting of Committee for Technical and Financial Evaluation for selection of IT Application Development services Agency for startup India The Committee for technical and financial evaluation for selection of Digital Amplification and social Analytics Agency met on 26th and 29th February,2016in Udyog Bhawan. The Committee took note of the Scope of… Read More

CBDT clarifies issue relating to the taxation of consortium of contractors formed to implement Engineering, Procurement and Construction (EPC) contracts/turn key projects

CBDT has clarified that issue relating to the taxation of consortium of contractors formed to implement Engineering, Procurement and Construction (EPC) contracts/turn key projects. It has been a subject matter of dispute between Income-tax Department and the consortium and this has been particularly so in cases where each member of the consortium has a clear… Read More

Clarification on applicability of Circular 21 of 2015

The Central Board of Direct Taxes has introduced Circular on Clarification on applicability of Circular 21 of 2015 dated 8th March, 2016 To know the complete circular, please click on the link below: Clarification on applicability of Circular 21 of 20153 Read More

Ministry of Labour and Employment Launches the Start Your Business Page on NCS Portal

Following the MoU signed with Uber in February 2016, the Ministry of Labour and Employment on Friday, 11 March 2016, announced the official launch of the “Start Your Own business” page on the National Career Services Portal. Gracing his presence at the event, Secretary, Ministry of Labour and Employment, Shri Shankar Agarwal, said “Participation from… Read More

Finance Minister meets the Directors of the RBI Central Board

Shri Arun Jaitley, Hon’ble Minister of Finance addressed the Central Board of the Reserve Bank of India at its Office in New Delhi today. Explaining the rationale underlying the Union Budget 2016-17, the Hon’ble Finance Minister said that the Budget is guided by the ground situation rather than populism. The key factors of the Budget… Read More

Order under the proviso to the clause(d) of sub-section (2) of section 68 of the Companies Act, 2013

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (ii)] Government of India Ministry of Corporate Affairs Order New Delhi, 10th March, 2016 S.O......(E).- In Exercise of the power conferred Under the proviso to the clause(d) of sub-section (2) of section 68 of the Companies Act, 2013(18 of 2013) (Act), the… Read More

Companies (Share Capital and Debentures) Amendment Rules, 2016

CLR Notes: The below amendment affects Rule 17 related to Buyback of shares under Section 68 of Companies Act, 2013 – Power of Company to Purchase its own Securities allowing the reference calculations for buy back on the basis of unaudited accounts with auditors's limited review (instead of the requirement of audited accounts earlier). The section amended… Read More

Rajya Sabha passed the Real Estate Regulator Bill

The Rajya Sabha passed the Real Estate Regulator Bill, which will help regulate the sector and bring in clarity for both buyersand developers. Here are 10 things you should know about this bill, touted as a key reform measure in the vast real estate sector. 1) It establishes the State Real Estate Regulatory Authority for that particular state as the… Read More

Engagement of retired officers and employees purely on contractual assignment for the post of Private Secretary and Steno

Applications are invited from retired officers, who have worked in various capacities like Registrar, Dy.Registrar, Asstt. Registrar in any court of Tribunal or the persons who have retired as a Judge of any court for the posts of Dy Registrar, Asstt. Registrar and Court Officer, on contract basis in National Company Law Tribunal as under.… Read More

Engagement of Law clerk-cum-Research Assistants in National Company Law Tribunal and National Company Law Appellate Tribunal purely on contractual assignment

Application are invited from Indian nationals to work as Law Clerk-cum Research Assistant in NCLT/NCLAT on purely contract basis on an honorarium of Rs. 30,000 per month, possessing the following essential qualification To Download the complete Memorandum, please click on the link below: Engagement of Law clerk-cum-Research Assistants in National Company Law Tribunal and National… Read More