Consolidation of Financials under IFRS ======================================================= Introduction Under Globalised scenario, the boundaries of the business crossed the beyond from one county to many countries during the last two decades, at the same time business risk is also increased the same level for the companies and their investor. As a investor or stake holder of an… Read More
RBI/2015-16/303 A.P. (DIR Series) Circular No. 40 February 01, 2016 To All Category - I Authorised Dealer Banks Madam / Sir, Foreign Direct Investment –Reporting under FDI Scheme, Mandatory filing of form ARF, FCGPR and FCTRS on e-Biz platform and discontinuation of physical filing from February 8, 2016 Attention of Authorised Dealers Category-I (AD Category - I)… Read More
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 1 st February, 2016 Sub: Signing of bilateral Advance Pricing Agreements (APAs) with United Kingdom The Central Board of Direct Taxes (CBDT) has entered into two bilateral Advance Pricing Agreements (APAs) with United Kingdom on 29th January,… Read More
Based on the recommendations of the Advisory Committee on Ways and Means Advances (WMA) Scheme for the State Governments, 2015 (Chairman: Shri Sumit Bose), the Reserve Bank of India (RBI) has revised the WMA scheme. The revised scheme for 2015-16 is as under: WMA Limits 1) As per the revised formula, the WMA quantum works… Read More
The value obtained from house property is taxable under the head “Income from House Property” i.e. the annual value of the property, which includes building or land appurtenant thereto, of which the assessee is the owner, is subject to taxable under this head “income from House Property”. However, if the property is owned and used… Read More
The Gift tax in India is regulated by Gift Tax Act that was constituted on April 1, 1958. It came into effect in nearly all parts of the country except Jammu and Kashmir. As per this Act 1958, all gifts exceeding Rs. 25,000, in the form of cash, draft, check or others, received from one… Read More
CLR Notes: The Companies Law Committee has presented its report to make recommendations to the Government on issues arising from the implementation of the Companies Act, 2013 as well as on the recommendations received from Bankruptcy Law Reforms Committee, the High Level Committee on CSR, the Law Commission and other agencies. The report is divided… Read More
CIRCULAR CDMRD/DMP/CIR/32/2016 January 29, 2016 To, The Managing Directors / Chief Executive Officers National Commodity Derivatives Exchanges Sir / Madam, Sub.: Revision in Position Limits for Agricultural Commodities 1. In continuation of SEBI circular No CIR/CDMRD/DMP/2/2016 dated January 15, 2016, the following directions are hereby issued with respect to provisions of open position limits for… Read More
WAGES UNDER ESIC ACT :- WASHING ALLOWANCE: It is a sum paid to defray special expenses entailed by the nature of employment and as such this amount does not amount to wages. (In lieu of old instructions issued vide Memo No.Ins.III/2/1/65 dt. 8.2.1967) SUSPENSION ALLOWANCE/SUBSISTENCE ALLOWANCE During the suspension period the employee is not allowed… Read More
The value obtained from house property is taxable under the head “Income from House Property” i.e. the annual value of the property, which includes building or land appurtenant thereto, of which the assessee is the owner, is subject to taxable under this head “income from House Property”. However, if the property is owned and used… Read More
CIRCULAR CDMRD/DMP/CIR/32/2016 January 29, 2016 To, The Managing Directors / Chief Executive Officers National Commodity Derivatives Exchanges Sir / Madam, Sub.: Revision in Position Limits for Agricultural Commodities 1. In continuation of SEBI circular No CIR/CDMRD/DMP/2/2016 dated January 15, 2016, the following directions are hereby issued with respect to provisions of open position limits for… Read More
GOVERNMENT OF INDIA Ministry of Corporate Affairs NOTICE INVITING COMMENTS ON THE DRAFT RULES W.R.T. NCLT RELATED PROVISIONS UNDER THE COMPANIES ACT, 2013 Dated the 28th January, 2016 283 Sections of the Companies Act, 2013 have already been commenced. Remaining sections related to functioning of NCLT/NCLAT and certain other authorities are yet to be notified.… Read More
Dear Friends, I started my journey in the active service of profession in the year 1991 as an office bearer of Indore Branch of CIRC of ICAI. I am happy that after 24 years, the profession gave me the opportunity to serve as the 63rd President of the ICAI, in the year 2015. Earlier, I… Read More