Daily Archives: March 8, 2016

Assessee can rely on ITR format to arrive at total liability

Issue Assessing officer has erred in law and on facts in computation of the eligible MAT credit available of Rs. 3,90,62,234 without including surcharge and education cess while arriving at the amount of total tax payable under the normal provisions of the Income Tax Act, 1961 and under sec. 115JB of the Act. Held Assessee… Read More »

Stents : Not allowed to increase MRP by more than 10%

Import of Stents Currently, Cardiac and Drug Eluting Stents are notified as ‘Drugs’ under the Drugs and Cosmetics Act, 1940. Health is a State subject, and data regarding annual requirements of Stents in the country is not complied centrally. The Department of Pharmaceuticals has informed that the National Pharmaceutical Pricing Authority under the Department of… Read More »

Identified states for New Medical Colleges

New Medical Colleges This Ministry administers a Centrally Sponsored Scheme namely, “Establishment of new Medical Colleges attached with existing district/referral hospitals”. Under the Scheme, 58 District/referral hospitals in 20 States/UTs are to be upgraded. A list of these 58 identified districts is placed in the table given below. Districts covered are those which did not… Read More »

National Policy for Anti-Microbial Resistance

Anti-Microbial Resistance                         A National Policy for containment of Antimicrobial Resistance (AMR) in the country was formulated in the year 2011 and has been widely disseminated. The said policy envisages enforcement and enhancement of regulatory provisions for use of antibiotics for humans as also for… Read More »

Govt steps for Tele-Medicine Services

Tele-Medicine Services Following steps have been taken to strengthen Telemedicine services:- I. A Centrally Sponsored Scheme (CSS) amounting to Rs. 103.99 Crores has been approved for establishment of National Medical College Network (NMCN), wherein 41 Govt. Medical Colleges are being networked in the first phase riding over National Knowledge Network- high speed bandwidth connectivity, with… Read More »

Organ Donation :Huge gap between demand and supply

Organ Donation Exact data on the number of premature deaths due to heart, liver, lungs, kidneys and pancreas complications has not been compiled. However, there is a huge gap between the demand for and supply of human organs for transplantation. The present annual requirement and availability of commonly transplanted organs is assessed as below:  … Read More »

Study of Type-2 Diabetes in women in 13 states

Type-2 Diabetes in women The Indian Council of Medical Research (ICMR) has undertaken a large scale epidemiological study on Task Force Projects on diabetes “ICMR – India Diabetes Study (ICMR INDIAB) Study” which looked at the prevalence of diabetes in different States.  The prevalence of type 2 diabetes (among women aged ≥ 20 years) in 13… Read More »

Cardiovascular Diseases in India

Cardiovascular Diseases in The country There are no prospective studies regarding trends of heart diseases in India and the State wise data.However, as informed by Indian Council of Medical Research (ICMR), current estimates from one-time cross sectional studies conducted in different regions of country indicate that the prevalence of coronary heart disease (CHD) is between… Read More »

Rural internship for medical students

Rural internship for medical students At present, the Government is not considering any proposal for mandatory internship for medical professionals in rural and remote areas. Health being a State subject, provision of healthcare facilities falls under the jurisdiction of respective State Governments. However, to encourage doctors working in remote and difficult areas, the MCI with… Read More »

Model Police Bill 2015 has been prepared

Model Police Act Government had constituted a Committee to draft a Model Police Act, which was published in 2006. A copy of the draft Model Police Act, as framed by the Committee, was forwarded to States for consideration and appropriate action, on 31st October, 2006. The Model Police Act, 2006 was studied again and reviewed… Read More »

Land swap with Bangladesh

Land swap with Bangladesh The ratification of Land Boundary Agreement of 1974 and its Protocol of 2011 has resulted in the exchange of 111 Indian enclaves (with a total area of 17,160.63 acres) in Bangladesh with 51 Bangladeshi enclaves (with a total area of 7,110.02 acres) in India and preservation of the status quo on… Read More »

25% increase in Sanctioned Strength of Judges in High Courts

D.V . Sadananda Gowda Interacts With Media Allocation for Plan Expenditure Increased from Rs. 806.65 Crores (Re 2015-16) to Rs. 900 Crores (Be 2016-17) Showing an Increase of 11.5%.  A Centrally Sponsored Scheme for Development of Infrastructure Facilities for Judiciary being Implemented  Allocation of E-Courts Phase-II Project has been increased from Rs.227.13 Crores in be… Read More »

Tax Administration Reforms Commission

Tax Administration Reforms Commission The Government has received the Report of Tax Administration Reforms Commission (TARC) headed by Dr. Parthsarathi Shome. The Report has four volumes containing a number of tax administration reforms. The broad recommendations inter-alia include changes in structure, improvement in taxpayers service, enhanced use of information and communication technology, exchange of information… Read More »

Price of insurance products sold online are Lower

Online Selling of Products by Public Sector Insurance Companies As per the information furnished by Insurance Regulatory and Development Authority of India (IRDAI), the price of insurance products sold online through the Insurance Company’s website, without any intervention of agent or intermediary, is lower in comparison to the offline version because no commission is payable… Read More »

Paternity Leave to Bank Employees

Paternity Leave to Bank Employees Grant of Paternity Leave to bank employees has been accepted under the 10th Wage Negotiation Settlement signed between Indian Banks’ Association (IBA) and the Unions/Associations of employees. Male employees with less than two surviving children shall be eligible for 15 days paternity leave during his wife’s confinement and may be… Read More »

limit on ATMs Transactions

ATM Transactions As per present guidelines of Reserve Bank of India (RBI), from November 1, 2014, banks are mandated to offer minimum five free transactions per month in own bank ATMs and three in other bank ATMs in six metro centres (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad). In non-metro centres, minimum five free… Read More »

Govt Subsidies on Commodities in last 3 years

Subsidies on Commodities The subsidy bill of the Central Government has remained in the range of Rs. 2.50 lakh crore to Rs. 2.58 lakh crore during the period, 2014-15 to 2016-17 (Budget Estimates). The fiscal deficit of the Central Government, which is the difference between total expenditure and non-debt receipts, has been in the range… Read More »

Carry Forward of Unspent CSR Funds

Carry Forward of Unspent CSR Funds The Ministry of Corporate Affairs in its circular dated 12th January 2016, has clarified that, the Board of the Company is free to decide whether any unspent amount from out of the minimum required CSR expenditure is to be carried forward to the next year. This provision is uniformly… Read More »

3 year Investigation of Corporate Frauds by SFIO

Investigation of Corporate Frauds by SFIO   To investigate corporate frauds of serious and complex nature the Government has set up a Serious Fraud Investigation Office (SFIO). The SFIO established vide Government of India’s Resolution No. 45011/16/2003-Admn-I dated 02-07-2003, has been notified under sub-section (1) of Section 211 of the Companies Act, 2013, vide Government of… Read More »

Ship Building Capacity of Indian Navy

Ship Building Capacity of Indian Navy The current ship building capability of defence shipyards meets the requirements of the Indian Navy. Presently, all major warships and submarines under construction are being built at the Indian Shipyards, these include both DPSUs as well as Private Shipyards. Mazagon Dock Shipbuilders Limited (MDL) and Garden Reach Shipbuilders Engineers… Read More »

Achievements made by DRDO

Achievements made by DRDO Defence Research and Development Organisation (DRDO) is a Mission Mode Organisation, which is primarily engaged in design and development of strategic, complex and security sensitive systems for the Armed Forces. DRDO has developed number of systems/products/ technologies, a large number of which have already been productionised. The value of systems/products/technologies developed… Read More »

CBDT clarify TDS issues on payments made by Television channels, Broadcasters and Newspapers

Issue of clarification on contentious TDS issues on payments made by Television channels, Broadcasters and Newspapers With a view to bring about clarity in the interpretation of certain contentious issues relating to Tax Deduction at Source (TDS) on payments made by television channels, broadcasters and newspapers, Central Board of Direct Taxes has issued two Circulars.… Read More »

Govt clarify taxability of consortium members

Clarification regarding taxability of consortium members Taxation of consortium of contractors formed to implement Engineering, Procurement and Construction (EPC) contracts/turn key projects has been a subject matter of dispute between Income-tax Department and the consortium. This has been particularly so in cases where each member of the consortium has a clear and district role in… Read More »

Mahila e-Haat :an online marketing platform for women launched

“Mahila e-Haat”, an online marketing platform for women launched by Smt Maneka Sanjay Gandhi Mahila e-Haat will provide access to markets to thousands of women who make products and are spread all over the country: WCD Minister In a path-breaking initiative, theMinister of Women and Child Development, Smt Maneka Sanjay Gandhi launched “Mahila e-Haat”, an… Read More »