Daily Archives: December 27, 2016

RBI allowed FPIs to transact directly in Indian Company non-convertible debentures/bonds

Purchase and sale of securities other than shares or convertible debentures of an Indian company by a person resident outside India RBI/2016-17/197 A.P. (DIR Series) Circular No.23 December 27, 2016 To All Category – I Authorised Dealer Banks Madam/ Sir, Purchase and sale of securities other than shares or convertible debentures of an Indian company… Read More »

RBI permitted Banks to issue prepaid instruments to Employers /unlisted corporates / partnership firms / sole proprietorship / public organisation

Master Circular on Issuance and Operations of Prepaid Payment Instruments – Amendments to paragraph 7.9 RBI/2016-17/196 DPSS.CO.PD.No.1610/02.14.006/2016-17 December 27, 2016 All Prepaid Payment Instrument Issuers, System Providers, System Participants and all other Prospective Prepaid Payment Instrument Issuers Dear Madam / Sir, Master Circular on Issuance and Operations of Prepaid Payment Instruments – Amendments to paragraph… Read More »

Railways Doubles Compensation Rate Payable to Railway Accident Victims

Ministry of Railways Doubles Compensation Rate Payable to Railway Accident Victims Ministry of Railways has decided to revise the amounts of compensation payable in respect of Death & Injuries to the passengers involved in Accidents and Untoward Incidents. In the revised compensation rules the amount in all the categories have been doubled with respect to… Read More »

Explanatory Notes on PMGKY 2016 issued by CBDT

Circular No.43 of 2016 F.No. 142/33/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 27th December,2016 EXPLANATORY NOTES ON PROVISIONS OF THE TAXATION AND INVESTMENT REGIME FOR PRADHAN MANTRI GARIB KALYAN YOJANA, 2016 AS CONTAINED IN CHAPTER IX-A OF THE FINANCE ACT, 2016 Introduction 1. The… Read More »

Revised Rule 50 of Employees State Insurance (Central) Rules 1950 w.e.f 01.01.2017

Rule 50 of Employees State Insurance (Central) Rules 1950 Rule 50 of  Employees State Insurance deals with wage limit as follow :- 50. Wage limit for coverage of an employee under the Act. — The wage limit for coverage of an employee under sub-clause (b) of clause (9) of Section 2 of the Act shall… Read More »

ESIC Applicability – Threshold Salary Limit increased to Rs 21000 -Govt Notification

The Employees’ State Insurance Corporation (ESIC) raised the monthly wage threshold to Rs 21,000,from the current Rs 15,000, for coverage under its health insurance scheme.  The wage limit for coverage of an employee under sub-clause (b) of clause (9) of Section 2 of the Act shall be  twenty one thousand rupees w.e.f 01.01.2017 vide notification… Read More »

Year End Review – 2016 -Ministry of Corporate Affairs Achievements -422 Sections of Companies Act notified

Major policy initiatives and achievements of the Ministry of Corporate Affairs (MCA); MCA entrusted with the responsibility to administer the Insolvency and Bankruptcy Code, 2016 (Code);The Insolvency and Bankruptcy Board of India (IBBI) established; Stabilization of the Cost Records and Audit Rules Year End Review – 2016 Ministry of Corporate Affairs   Following are the… Read More »

Draft Food Safety and Standards -Fortification of Food- Regulations 2016

MINISTRY OF HEALTH AND FAMILY WELFARE (FOOD SAFETY AND STANDARDS AUTHORITY OF INDIA) NOTIFICATION New Delhi, the 23rd December , 2016. F. No. 11/03/Reg/Fortification/2014.—The following draft of the Food Safety and Standards (Fortification of Foods) Regulations, 2016, which the Food Safety and Standards Authority of India proposes to make with the previous approval of the… Read More »

10 Worst excuses for late filing of tax returns in UK

Excuses for late filing of tax returns Source : https://www.gov.uk [ Her Majesty’s Revenue and Customs (HM Revenue and Customs or HMRC) is a non-ministerial department of the UK Government responsible for the collection of taxes, the payment of some forms of state support, and the administration of other regulatory regimes including the national minimum… Read More »

Delhi Metro Station to Go Cashless from 01st Jan 2017 – Steps to follow for Token

10 Metro stations of the Delhi Metro network will go completely cashless in their transactions from 1st January, 2017 onwards as part of the Government of India’s vision to transform India into a cashless economy. The cashless transactions for token/smart card purchase/top up at these stations can be done through Paytm by using Paytm QR-code, which… Read More »

Disclosure of financial information in offer document for REITs

Securities and Exchange Board of India CIR/IMD/DF/141/2016 December 26, 2016 To All Real Estate Investment Trusts (REITs) All Parties to REITs All Stock Exchanges All Merchant Bankers Dear Sir / Madam, Sub: Disclosure of financial information in offer document for REITs 1. Regulation 15 (2), read with Schedule III, of the SEBI (Real Estate Investment… Read More »

Draft Bank Branch Auditors’ Panel for year 2016-17

Draft Bank Branch Auditors’ Panel for year 2016-17 Dear Colleagues,  Please find placed below Draft Bank Branch Auditors’ Panel of Chartered Accountants/firms for the year 2016-17 . To view your category and remarks thereof, if any, please click on the relevant interval:. MEF00001-05000 MEF05001-10000 MEF10001-15000 MEF15001-20000 MEF20001-25000 MEF25001-30000 MEF30001-35000 MEF35001-40000 MEF40001-45000 MEF45001-50000 MEF50001-55000 MEF55001-60000 MEF60001… Read More »

A Handbook on Law, Ethics & Communication CA IPCC May 2017 By Munish Bhandari

Munish Bhandari Law book for IPCC may 2017 [ A Handbook on Law, Ethics & Communication CA IPCC May 2017 By Munish Bhandari ] The main highlight of this edition of Munish Bhandari Law book for IPCC may 2017 titled – Law, Ethics & Communication CA IPCC May 2017 By Munish Bhandari , is the inclusion… Read More »

Dinesh Madan ISCA Book for CA Final May 2017 Exam

ISCA (Information Systems Control & Audit) for CA Final May 2017 Exams and onwards by Dinesh Madan This Dinesh Madan ISCA Book  for CA Final May 2017 Exam  Includes Review Questions With Hints and Includes Nov 2016 Examination Paper Almost every CA Final student has problem with ISCA subject. and they found it difficult to understand and… Read More »

Insurance Laws Manual [ 18th Edition ] 2017 Book

Insurance Laws Manual [18th Edition] 2017 This Insurance Laws Manual book includes :-  Insurance Act 1938 IRDA Act 1999 65 Rules /Regulations Framed under IRDA Act. Link to Buy Insurance Laws Manual Language: English Binding: Paperback Publisher: Taxmann Publications Pvt Ltd Genre: Academic and Professional Edition: Dec 2016, 2016 No. Of Pages : 1584 See Contents… Read More »