Reopening of assessment invalid if recorded reasons silent on quantum of escaped tax
CLR Editorial Notes: In the assessment year 2000-2001 the assessee had sold a plot of land after converting the leasehold land into a freehold one. The capital gains thus arrived at, was offered as Long Term Capital Gains and the same was accepted by the Assessing Officer. After the expiry of 4 years, the Assessing… Read More
Adoption of Clinical Establishments (Registration and Regulation) Act, 2010
Health is a State subject and it is primarily the responsibility of the State Governments to regulate and monitor hospitals in the States. No such information regarding illegally operation of hospitals is maintained centrally. However, Clinical Establishments (Registration and Regulation) Act, 2010 has been enacted for registration and regulation of the Clinical Establishments and for… Read More
CLR Snippets | President inaugurates 14 mega watt Solar Power Project at Deoghar
The President of India, Shri Pranab Mukherjee inaugurated the 14 mega watt Solar Power project and laid Foundation Stones for Pilgrim Queue Complex and Deoghar Basukinath 44 kilo metre Solar Street Light Project at Deoghar, Jharkhand today ( April 30, 2013). Speaking on the occasion the President said that he is hopeful of these initiatives… Read More
MGNREGA leads to reduction in climate change vulnerability
A national workshop in its study has concluded that MGNREGS is generating multiple environmental and socio-economic benefits, leading to improved water availability and soil fertility resulting in increased crop production. It said that increased area under plantations and orchards potentially contribute to alternate incomes, increased employment generation and reduced migration. Further the implementation of MGNREGS works… Read More
Mizoram Plan for 2013-14 Finalized
The Annual Plan for the year 2013-14 for the state of Mizoram was finalised here today at a meeting between Deputy Chairman, Planning Commission, Mr. Montek Singh Ahluwalia and Chief Minister of Mizoram, Shri Pu Lalthanhawla. The plan size has been agreed at Rs.2500 crore. In his comments on the plan performance, Mr. Montek Singh… Read More
CLR Snippets | NTPC ranked 3rd Best Company in Rewards & Recognition-2013
NTPC has been selected as one of India™s Best Companies for Rewards & Recognition in 2013 in a study conducted by Great Place To Work ® Institute India, in partnership with Edenred. Over 100 companies with remarkable rewards and recognition practices participated in this study and only 15 who excelled made it to the Best… Read More
CLR Snippets | Additional Judges of the High Court of Chhattisgarh Get Extension
In exercise of the powers conferred by Clause (1) of Article 224 of the Constitution of India, the President has issued fresh Notification with regard to the appointment of Shri Ghulam Minhajuddin and Shri Radhe Shyam Sharma as Additional Judges of the High Court of Chhattisgarh with effect from 10th May 2013. As per the… Read More
Amendments in the Policy Guidelines for expansion of FM Radio broadcasting services
Telecom Regulatory Authority of India The Union Cabinet today approved the decisions of Empowered Group of Ministers (EGoM)™s meeting held on 6.3.2013 regarding amendments in the Policy Guidelines for expansion of FM Radio broadcasting services through private agencies (Phase-III), which are as follows :- The proposed specific departures from the Requests for Proposals (RFP) followed in DoT for auction… Read More
Directives for Prescribing Generic Medicines
The duties and responsibilities of the physicians as prescribed under the Code of Medical Ethics in the Indian Medical Council (Professional Conduct, Etiquette and Ethics) Regulations, 2002 contain the provision that every physician should, as far as possible, prescribe drugs with generic names and he / she shall ensure that there is a rational prescription… Read More
National Urban Health Mission (NUHM) as a sub-mission under the National Health Mission (NHM)
Background The Union Cabinet in its meeting held in April 2012 has already approved the continuation of the National Rural Health Mission (NRHM) and the other sub-mission under NHM till 31.3.2017. Approvals for Proposals The Union Cabinet gave its approval to launch a National Urban Health Mission (NUHM) as a new sub-mission under the over-arching… Read More
Fixation of Nutrient Based Subsidy (NBS) Rates
The Cabinet today accorded approval to the proposals of the Department of Fertilizers for fixation of NBS rates for the year 2013-14. These rates will be applicable from 1st April 2013. The Department of Fertilizers is implementing Nutrient Based Subsidy Policy for the P&K fertilizers w.e.f. 1.4.2010. As per this Policy, the Government of India… Read More
Clarification on Amendment to Section 206-C of Income Tax Act
Clarification on Amendment to Section 206-C of Income Tax Act dealing with Tax Collection at Source (TCS) on Sale of Bullion or Jewellery in Cash: Currently, sale in cash of bullion (excluding coin or any other article weighing 10 grams or less) in excess of Rs 2 lakh or jewellery in excess of Rs.5 lakh… Read More
Applicability of RBI Guidelines to Income Tax
Introduction We are aware that foreign exchange regulations are governed by Reserve Bank of India (˜RBI™) and income tax regulations by the Central Government. Yet, is it possible to conclude that limits laid down by RBI can be considered as Arm™s Length Price (˜ALP™) for the purposes of transfer pricing under the under Income tax… Read More
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