Daily Archives: August 6, 2015

Insurance Terms explained

Understanding Insurance Terms What is Utmost Good Faith? Utmost Good Faith is one of the principles that insurance is based on. It denotes a positive duty of the person seeking insurance to voluntarily disclose accurately and fully, all facts material to the risk being proposed whether requested or not. What is meant by Insurable Interest… Read More »

Unit Linked Policy Questions and Answers

How is Surrender value calculated in Unit Linked Policy ? Surrender value in Unit Linked Policies is usually expressed as fund value less the surrender charge. What is the method of arriving at NAV for surrenders, maturity claim, switch etc ? In respect of valid applications received (e.g. surrender, maturity claim, switch etc) up to 3.00… Read More »

All about life insurance policy

What should I look for before I decide to buy a policy ? You must check and see whether or not there is availability of guarantee of return, what the lock in period is, details of premium to be paid, what would be implications of premium default, what the revival conditions are what the policy… Read More »

All About Health Insurance

What is Health Insurance? The term health insurance is a type of insurance that covers your medical expenses. A health insurance policy is a contract between an insurer and an individual /group in which the insurer agrees to provide specified health insurance cover at a particular “premium”. What are the forms of Health Insurance available?… Read More »

section 80e foreign education loan interest allowed as deduction

section 80e foreign education Loan Interest allowed as deduction Question: Can the Assessee claim the deduction of interest on education loan under section 80E of Income Tax act 1961 of India, when the loan has been taken for foreign education  ? Answer : For claiming deduction under section 80E, there is no condition that higher education should… Read More »

Haryana VAT e-filing of returns

Haryana VAT e-filing of returns Haryana VAT Act  Oridinance 3 of 2015 provision for e-filing of returns Dated 03 august 2015 Click to View the Ordinance

MGT 14

List of Resolutions for which Form MGT 14 is required to be filed with ROC  The list is categorized in 3 Categories:  1. List-A: Board Resolutions 2. List-B: Special Resolutions 3. List-C: Ordinary Resolutions  LIST-A: BOARD RESOLUTION REQUIRED TO BE FILE WITH ROC IN FORM MGT 14  1. To issue securities, including debentures, whether in… Read More »


MASTER CIRCULAR DBR NO.LEG.BC.21/09.07.006/2015-16 – CUSTOMER SERVICE IN BANKS  CUSTOMER SERVICE IN BANKS MASTER CIRCULAR DBR NO.LEG.BC.21/09.07.006/2015-16, DATED 1-7-2015 Please refer to the Master Circular DBOD No.Leg.BC.21/09.07.006/2014-15 dated July 01, 2014 consolidating the important instructions issued by us in the area of customer service up to June 30, 2014. This Master Circular consolidates instructions on… Read More »

RBI Circular on Bank Finance to NBFC

RBI Circular on Bank Finance to NBFC  (NON-BANKING FINANCIAL COMPANIES ) MASTER CIRCULAR DBR.BP.BC.No.5/21.04.172/2015-16, DATED 1-7-2015 Please refer to our Master Circular DBOD.BP.BC.No.10/21.04.172/2014-15 dated July 1, 2014 on the captioned subject. This Master Circular consolidates instructions on the above matters issued up to June 30, 2015. Master Circular on Bank Finance to Non-Banking Financial Companies… Read More »

No Tax tax recovery after death as per Supreme Court

Tax recovery after death Hon’ble Supreme Court in the case titled as  Shabina Abraham & Ors. Vs. Collector of Central Excise & Custom  in Civil Appeal No. 5802 of 2005 decided on 29.07.15 has held that assessment proceeding under the Central Excise and Salt Act, 1944 cannot be continued against the legal representative/estate of a… Read More »

Dealers can eliminate deficiencies in returns within 30 days of service of notice under Himachal VAT Act

Now dealers can eliminate deficiencies in returns within 30 days of service of notice under Himachal VAT Act HIMACHAL PRADESH VALUE ADDED TAX (AMENDMENT) ACT, 2015 – AMENDMENT IN SECTIONS 4, 7, 21& 34 AND INSERTION OF SECTION 50A NOTIFICATION NO.LLR-D(6)-6/2015-LEG., DATED 16-5-2015 An Act further to amend the Himachal Pradesh Value Added Tax Act,… Read More »