Daily Archives: February 12, 2016

No reopening on basis Share transferred without consideration

Facts of the case It is seen that the assessee has transferred 5,30,410 shares during year under consideration whose market value on the date of transfer was Rs.7,63,09,5550/- without consideration to M/s Nerka Chemicals Pvt Ltd by way of transfer deed dated 26.02.2010. AO View In view of the above facts, I have reason to… Read More »

Corrigendum : Indian Forest Service Examination, 2015

Corrigendum : Indian Forest Service Examination, 2015 In addition to the roll nos. mentioned in para 4, of the PRESS NOTE dated 11th February, 2016 of the result of Indian Forest Service  Examination 2015, the candidatures of the candidates with  following  roll  nos.  are also  provisional: 0478487 0515545

SAG Marathon Gold to India

SAG Marathon Gold to India Indian Men and Women win Gold Medals in Marathon. Nitenender Singh Rawat completed his target in 2:15:18:00 hrs. One second trail put Sri Lankan, C. Aruradha Indra to second place and got Silver Medal. Khetha Ram of India could manage Bronze Medal only. In Women’s Marathon, Indian athlete Kavitha Raut… Read More »

Indians target Gold in pistol shooting

12th SAG: Indians target Gold in pistol shooting In 12th SAG, 25m Mens Pistol Shooting, Indian shooters got Gold, Silver and Bronze medal in Individual event while Gold in Team event today. Neeraj Kumar Gurpreet Singh and Mahender Singh aim Gold, Silver and Bronze medal respectively. In Team Pistol Shooting, Indian trio- Neeraj Kumar, Gurpreet… Read More »

SAG Chain Singh became Air Rifle shooting champion

SAG Chain Singh became Air Rifle shooting champion In 12th SAG, 10m Air Rifle Men Individual and Team Shooting events, Indian shooters clinched Gold medals. In Mens Individual Shooting, Chain Singh of India won the Gold and Md. Sovon Choudhury of Bangladesh won Silver medal while Bronze Medal won by Gagan Narang of India today.… Read More »

Consumer Price Index Numbers january 2016

Consumer Price Index Numbers on base 2012=100 for Rural, Urban and Combined for the Month of January 2016 The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has revised the Base Year of the Consumer Price Index (CPI) from 2010=100 to 2012=100 with effect from the release of indices for the month of… Read More »

Madhya Pradesh Gets its First Mega Food Park

Madhya Pradesh Gets its First Mega Food Park, Expected to Benefit About 25,000 – 30,000 Farmers In order to give an impetus to the growth of the Food Processing Sector in Madhya Pradesh, the first Mega Food Park in the state promoted by M/s Indus mega Food Part Pvt. Ltd was inaugurated today by Smt.… Read More »

Directors can not be appointed if age above 70 years

Facts of the case On 1st April 2014, Companies Act was amended and by the Amendment Act of 2013, a new clause was introduced in Section 196(3)(a). By virtue of the said amendment vide sub-clause (3)(a), additional disqualification was added to the disqualifications which already existed in the said provision namely a Managing Director could… Read More »

Notification No. 24/2016 – Customs Amend Exchange rate notification

Exchange Rate notification with effect from 13th February, 2016 thereby amending Notification No.18/2016-Customs (N.T.), dated 4th February, 2016 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS)  Notification No. 24/2016 – Customs (N.T.)  Dated the 12th  February, 2016 23 Magha, 1937 (SAKA)   In exercise of the powers conferred… Read More »

Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit

RBI/2015-16/322 DCBR.CO.SCB.Cir. No. 1/13.05.000/2015-16 Magha 22,1937 February 11, 2016 To Chief Executive Officers Primary (Urban) Cooperative Banks (Scheduled Banks holding AD Category I Iicences) Dear Sir/Madam Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit The Government of India has announced the Interest Equalisation Scheme on Pre and Post Shipment Rupee Export Credit… Read More »

RBI clarify Legal Guardianship Certificates in case of person with mental disorder

Source Reserve Bank of India RBI/2015-16/321 DBR.No.Leg.BC.78/09.07.005/2015-16 February 11, 2016 The Chairman/Chief Executives (All Scheduled Commercial Banks other than RRBs) Dear Sir, Legal Guardianship Certificates issued under the Mental Health Act, 1987 Please refer to Circular DBOD.No.Leg.BC.84/09.07.005/2013-14 dated January 13, 2014 wherein banks were advised, inter alia, to take note of the legal provisions in… Read More »

Govt Website for Grievances Against Misleading Advertisements

Portal For Grievances Against Misleading Advertisements (http://gama.gov.in/) What is GAMA? The Department of Consumer Affairs has launched this portal for registering online complaints for Grievances Against Misleading Advertisements (GAMA ). What is a misleading advertisement? Any advertisement or promotion through Television, Radio, or any other electronic media, Newspapers, Banners, Posters, Handbills, wall-writing etc. to misrepresent… Read More »

100% digitisation of ration cards done in the country

100% digitisation of ration cards done, a major step towards leak-proof PDS in the country Over 54 crore people benefiting with Rs 2/wheat and Rs3/kg rice after the implementation of Food Security Act in 27 States. Record procurement of paddy made extending MSP benefit to more farmers  The Government has achieved significant mile stones in… Read More »

Govt to launch Electronics Development Fund

Minister for Telecom & IT to Launch Electronics Development Fund (EDF)  Department of Electronics & Information Technology and M/s. Canbank Venture Capital Fund Ltd will Launch Electronics Development Fund (EDF) on Monday in Mumbai. Shri Ravi Shankar Prasad, Hon’ble Minister for Communications & Information Technology” will formally announce the launch with handing over of the… Read More »