Corporate Law Reporter - The Daily Journal

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

Engagement of retired officers and employees purely on contractual assignment for the posts of Assistant Registrars, Deputy Registrars and Court Officers

Application are invited from retired officers, who have worked in various capacities like PPS, Private Secretary, Personal Assistant and Steno in Central/State Government, PSU, any court or Tribunal on contract basis in NCLT as under. To Download complete Memorandum, please click on the link below: Engagement of retired officers and employees purely on contractual assignment… Read More

Empanelment of retired officers as the Inquiry Officers for conducting Departmental Inquires

Ministry of Corporate Affairs proposes to setup a panel of retired officers as Inquiry Officers for Conducting Departmental enquires as per guidelines laid down by the Department of Personnel & Training vide their O.M. No. 142/40/2015-AVD-I dt. 07.01.2016. To Download the complete Circular, please click on the link below: Empanelment of retired officers as the… Read More

Introduction of Exchange Traded Cross Currency Derivatives contracts on EUR-USD, GBP-USD and USD-JPY currency pairs and Exchange Traded Option contracts on EUR-INR, GBP-INR and JPY-INR currency pairs

CIRCULAR SEBI/HO/MRD/DP/CIR/P/2016/0000000038 March 09, 2016 To, All Stock exchanges and Clearing corporations, All Depositories. Dear Sir / Madam, Subject: Introduction of Exchange Traded Cross Currency Derivatives contracts on EUR-USD, GBP-USD and USD-JPY currency pairs and Exchange Traded Option contracts on EUR-INR, GBP-INR and JPY-INR currency pairs Reserve Bank of India (RBI) vide A.P. (DIR Series) circular… Read More

Discount known prior to clearance of goods must be deducted from Transaction Value – CESTAT

ACTUAL AMOUNT THAT THE BUYER IS LIABLE TO PAY AT THE TIME OF SALE OR AT ANY OTHER TIME SHALL BE THE TRANSACTION VALUE: CESTAT - MUMBAI A. Brief Facts of the Case: 1.1 In this case, the Appellant are the manufacturer of P & P Medicines falling under sub-heading No. 3003.10 of the… Read More