Corporate Law Reporter - The Daily Journal

Consumer Protection Bill 2015 in lower house as hot maggi controversy curtailed

A Bill seeking to set up a regulatory authority having powers to recall products and cancel licences of defaulting companies got introduced in Lok Sabha yesterday. The new Bill seeks to create a Consumer Protection Authority which will also have the power to initiate class action suits against defaulting companies which will provide the ease… Read More

Modi aims to bring reforms to GST for last minute discussion

Prime Minister Narendra Modi govt will try to pass GST bill setting the path for India™s biggest tax shake-up GST, in a last attempt which is restricted by the opposition. The delay of the bill is happening due to the reason of the majority of BJP in the upper house and that will continue in the same… Read More

How to Play Online Casino in Canada

When you are looking to get into an online casino in Canada, you are going to find that they are not the same as the ones that you would find down south. When you are looking to play online, you will find that you do not need to have a credit card. This makes it… Read More

SEBI invites pension funds to invest in the stock market

The apex retirement fund regulator EPFO have began to invest in capital markets for the first time ever, however, the regulator SEBI has invited for similar investments by other pension funds as well. Welcoming the EPFO decision to invest five per cent of its incremental deposits into capital markets through Exchange Traded Funds (ETFs), other pension funds should also… Read More

National Company Law Tribunal (NCLT ) constitution may get delayed

The government is likely to get delayed in notifying the provisions concerning the National Company Law Tribunal (NCLT) and its appellate body (NCLAT). Till date, around 60 per cent of the Companies Act, 2013 ” which has a total of 470 sections and seven schedules ” has been notified and enforced. Most of the remaining… Read More

Aviation Ministry proposes to make air travel easy and cheaper

The civil aviation ministry is considering a plethora of monetary incentives for stakeholders across the country™s fledging aviation industry to reduce operating costs for aviation players. The objective behind the same is to enable the common man to fly at least once a year.The concessions are part of the draft aviation policy that is awaiting… Read More

CBDT signs Advance Pricing Agreements (APAS) to usher in certainity in Taxation

CBDT signs Advance Pricing Agreements (APAS) to usher in certainity in Taxation As a part of a major initiative to usher in certainty in taxation, the Central Board of Direct Taxes (CBDT) entered into two unilateral Advance Pricing Agreements (APAs) on 3 August, 2015 with two Multi-National Companies (MNCs) which includes the first APA with… Read More

Unauthorized Trades- Prevention is better than cure

A stock broker is one who invests other people™s money until its all gone. - Woody Allen, American Film Maker. In any profession, you will find people who take advantage of those who aren't in the know-how. Whenever you buy something, there are chances of you being cheated. But not all brokers fit the ˜swindler… Read More

Exchange rate of Foreign Currency relating to Imported and Export Goods notified

Exchange rates for the purpose of imports and exports w.e.f. 7th August, 2015 In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in super session of the notification of the Central Board of Excise & Customs (CBEC) No.68/2015-CUSTOMS (N.T.), dated 16th July, 2015, except as respects… Read More

Income Tax (11th Amendment) Rules, 2015 – Notified by CBDT

The Central Board of Direct Taxation has notified the Income Tax (11th Amendment) Rules, 2015 dated 7th August, 2015 which shall come into force form the date of publication in the official gazette. The notification containing the amendment rules can be accessed at the link given below. CBDT notifies Income Tax (11th Amendment) Rules, 2015… Read More

Sebi to align governance norms with Cos Act

The Securities and Exchange Board of India (Sebi) will align its corporate governance norms in accordance with amendments to the Companies Act legislated in May this year by Parliament. The ministry of corporate affairs (MCA) wrote to Sebi after the Companies Act was amended asking it to align its norms with the law. According to the amended Companies Act,… Read More

Mandatory filing of Cost Audit Reports in XBRL mode

The Ministry of Corporate Affairs (MCA), Government of India has mandated filing of cost audit reports in XBRL Mode. The Institute of Cost Accountants of India has developed Costing Taxonomy-2015 in this regard. The tenders have been floated by the apex body regulating the cost accountants and the same shall be available to use once… Read More

Spending limit to be raised by RBI on e-wallets

The Reserve Bank will raise the spending limit on e-wallets, which are fast becoming the preferred mode of payment for utility bills and online purchases. An e-wallet is an electronic card, which works like credit and debit card for making secure online transactions.Many mobile wallet companies have asked the central bank to hike the limit.… Read More