MoF proposes relaxation of 1% Income Tax for credit/debit card payments
Credit or debit card users may get to avail 1% of their annual transactions as deduction from income, if a proposal made by a section of the finance ministry is implemented. The move could marginally reduce the income tax liability of credit and debit card users. Similarly, service providers could also get a rebate on… Read More
Income Tax (Twelfth Amendment) Rules, 2015
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] INCOME-TAX Notification S.O. 2240(E).- In exercise of the powers conferred by Explanation 2 to clause (1) of section 6 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following… Read More
FAQs on XBRL eForms (Form 23AC-XBRL and Form 23ACA-XBRL)
1. Whether the existing Form 23AC and Form 23ACA are to be used for filing balance sheet and profit and loss account in XBRL mode? No, the existing Form 23AC and Form 23ACA are not to be used for filing balance sheet and profit and loss account in XBRL mode. For this, new Form 23AC-XBRL… Read More
FAQs on XBRL
1. What is XBRL? XBRL is a language for the electronic communication of business and financial data which is revolutionizing business reporting around the world. It provides major benefits in the preparation, analysis and communication of business information. It offers cost savings, greater efficiency and improved accuracy and reliability to all those involved in supplying… Read More
FAQs on eFiling
1. What are the steps for online e-filing? 1. When the business or the registered users access the MyMCA portal, they enter their username and authentication details - Password/ Digital Certificate. 2. The user will be shown a list of eForms category-wise under eForms tab . 3. At any time, the users can read the related instruction… Read More
Clarification on certain issues related to grant of approval and claim of exemption u/s 10(23C)(vi) of the Income-tax Act, 1961
Sub-clause (vi) of clause (23C) of Sec 10 of the Income-tax Act, 1961 (Act) prescribes that income of any university or other educational institutions, existing solely for educational purposes and not for purposes of profit, shall be exempt from tax if such entities are approved by the prescribed authorities. Such approval is not required in… Read More
Legal Provisions of Copyright with Special Reference of section 51& 52
The Law of Copyright:- Copyright is a right which gives exclusive rights to the creator for their original and artistic work. Thus the laws have been enacted primarily keeping the objective in mind. Immediately after independence a separate law was enacted exclusively on the copyrights and the necessity of such a law was described by… Read More
FAQs on Fast Track Exit Scheme under Companies Act
1. What is Fast Track Exit (FTE) Mode? Ministry has issued Guidelines for "Fast Track Exit (FTE) Mode" to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956 in time bound manner. 2. What is the date of implementation of these… Read More
E- Registration to remove complexities and prevent unlawful property disposition
The most frequently-occurring type of disagreement in Indian real estate industry is land dispute. Cases range from of illicit land trespassing and illegal land sales to instances of purchase of land where no actual purchase tale place and due to which frauds come into picture. The real estate market has historically been plagued by such… Read More
Minimum salary scale set for domestic household hires in proposed labour policy
The national policy for domestic workers is likely to be presented before the Union Cabinet soon.Those hiring a full-time domestic help might soon have to pay them a minimum salary of Rs 9,000 per month, compulsory paid leave of 15 days a year, and maternity leave to boot. To safeguard the interest of domestic workers,… Read More
SEBI (Issue of Capital and Disclosure Requirements) (Fifth Amendment) Regulations, 2015
No. SEBI/LAD-NRO/GN/2015-16/012.”€In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, namely:- 1. These regulations may be called… Read More
SEBI (Issue of Capital and Disclosure Requirements) (Fourth Amendment) Regulations, 2015
THE GAZETTE OF INDIA EXTRAORDINARY PART III SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, AUGUST 14, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 14th August, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (FOURTH AMENDMENT) REGULATIONS, 2015 No.SEBI/LAD-NRO/GN/2015-16/008.”€In exercise of the powers conferred by section 30 of… Read More
SEBI (Substantial Acquisition of Shares and Takeovers) (Third Amendment) Regulations, 2015
THE GAZETTE OF INDIA EXTRAORDINARY PART -III - SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, AUGUST 14, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 14th of August, 2015 SECURITIES AND EXCHANGE BOARD OF INDIA (SUBSTANTIAL ACQUISITION OF SHARES AND TAKEOVERS) (THIRD AMENDMENT) REGULATIONS, 2015 No. SEBI/LAD-NRO/GN/2015-16/009.-In exercise of the powers conferred under… Read More
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