Daily Archives: March 14, 2016

32 Indian places declared as World Heritage Sites

Policy to adopt World Heritage Sites UNESCO, with the help of 21 member World Heritage Committee and advisory bodies such as International Council on Monuments and Sites (ICOMOS) and International Union for Conservation of Nature (IUCN), within the framework of its Operational Guidelines, decides about the cultural and natural sites to be included on the… Read More »

Govt proposed new rules for Trademark Registration

Trademark Registration The government has proposed to introduce new rules for Trademark Registration. The existing Trade Marks Rules 2002 are proposed to be replaced by the Trade Marks (Amendment) Rules, 2015.  The proposed Trade Marks (Amendment) Rules, 2015 have already been published in the Gazette of India  and has been made available in the official… Read More »

Govt Scheme for startups in India

Scheme for new Entrepreneurs An Action Plan has been prepared for 22 sectors under ‘Make in India’ initiative to promote new entrepreneurs in the country. An Investor Facilitation Cell has  been  created in Invest India to assist and handhold investors.  Further, a Startup Action Plan has been released by the Government to create a conducive… Read More »

Tax Incentives for Maritime Sector in Budget 2016-17

Tax Incentives for the Maritime Sector The Government of India has proposed the following tax incentives in the Budget 2016-17 for strengthening and promoting the Indian maritime sector (i)         Exclusion of services of transportation of import cargo by ships on voyage charter from Negative List. Freight charged by  shipping companies for import of goods into… Read More »

CHHATTISGARH Govt Revised Assessment limit by VAT Officers

CHHATTISGARH VALUE ADDED TAX RULES 2006  AMENDMENT IN RULE 55 NOTIFICATION NO.F-10-03/2016/CT/V(12) DATED 27-2-2016 In exercise of the powers conferred by section 71 of the Chhattisgarh Value Added Tax Act, 2005 (No.2 of 2005), the State Government, hereby, makes the following further amendment in the Chhattisgarh Value Added Tax Rules, 2006 with effect from 1st… Read More »

TRADE CREDIT INSURANCE :IRDA GUIDELINES

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY GUIDELINES ON TRADE CREDIT INSURANCE CIRCULAR NO.IRDAI/NL/CIR/CRE/044/03/2016, DATED 10-3-2016 Introduction The Authority had issued guidelines on trade credit Insurance on 13-12-2010 vide circular ref IRDA/NL/CIR/CRE/205/12/2010, to regulate the business of Credit Insurance in India. In the recent times, the changes in economy, especially in micro, small, medium enterprise sector has… Read More »

Tax Credit of exempted Dividend Income as per DTAA

Facts of the Case The Assessee entered into a joint venture with Oman Oil Company to form Oman Fertilizer Company SAOC (OMIFCO), which is a registered company in Oman under the Omani Laws. The Assessee holds 25% share in OMIFCO, which is engaged in manufacturing fertilizers.  The Assessee has established a branch office in Oman… Read More »

Clean Street Food project launched by Govt

Health Minister Shri J P Nadda launches project ‘ Clean Street Food ’ 20,000 roadside vendors to be skilled under PMKVY in the first phase Union Minister for Health & Family Welfare Shri J P Nadda launched Project ‘Clean Street Food’ in the presence of Shri Rajiv Pratap Rudy, Union Minister of State for Skill… Read More »