Daily Archives: January 30, 2017

Compensation paid for use of pirated software is not penalty, allowable Expenses u/s 37 of Income tax

Issue : Whether the compensation paid of Rs. 23,33,278/- to Microsoft Corporation, USA was allowable as a deduction in view of explanation to Section 37(1). Held by CIT (appeals ) :- Compensation paid by the assessee company to Microsoft Corporation was for infringement of the Copyright Act and therefore, the said payment was for an… Read More »

India Post Payments Bank – Saving Account charges and features

India Post Payments Bank – Saving Account charges and features IPPB – Schedule of Charges (Tariffs are excluding applicable taxes) Banking Services for Everybody: IPPB offers 3 distinct accounts, tailored to suit the requirements of people everywhere. Regular Account – Safal Basic Savings Bank Deposit Account (BSBDA) – Sugam BSBDA Small – Saral ​ While… Read More »

Margin of Preference of 60% for all goods under 0802 80 under DFTP scheme

Notification No. 02/2017-Customs dated 27.01.2017 seeks to further amend Notification No. 96/2008-Customs dated 13.08.2008 so as to prescribe a Margin of Preference of 60% for all goods falling under sub-heading [0802 80] under the Duty Free Tariff Preference (DFTP) scheme. Notification No 02/2017-Cus,dt. 27-01-2017

Result of Combined Defence Services Examination (ii), 2016-written result

Combined Defence Services Examination (ii), 2016 Declaration of written result On the basis of the results of the Combined Defence Services Examination (II), 2016 held by the Union Public Service Commission on 23rd   October, 2016, 8563 candidates with the following Roll Numbers have qualified for being interviewed by the Service Selection Board of the Ministry… Read More »

RBI removed Limits on Cash withdrawals from ATMs / Current Accounts / CC /Overdraft

Limits on Cash withdrawals from Bank accounts and ATMs – Restoration of status quo ante Limits on Cash withdrawals from ATMs and Bank accounts (Exept Saving bank accounts) has been removed by RBI by following Notification dated 30.01.2017.  RBI/2016-17/217 DCM (Plg) No. 2905/10.27.00/2016-17 January 30, 2017 The Chairman / Managing Director / Chief Executive Officer, Public… Read More »

June 2017 Common Proficiency Test (CPT) on 18.06.2017

June 2017 Common Proficiency Test (CPT) 27th January, 2017 No.13-CA (EXAM)/CPT/June/2017: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the Common Proficiency Test will be held on Sunday, 18th June, 2017 in two sessions as below, at… Read More »

CS Exam Books / Best Books for CS Exam Preparation

CS Exam Books we have compiled list of CS Exam Books / Company Secretary Exam Books CS Exam Books for Professional Programme CS Professional Module 1 -Paper  1 Advanced Company Law and Practice Advanced Company Law & Practice for CS Professional June 2017 Exam – 2017 by Sangeet Kedia (Author) you can buy this Book for Rs 500 . Link to… Read More »

Working Group report on Information Utilities

Working Group report on Information Utilities Subject: Framework for Information Utilities The Ministry of Corporate Affairs had set up four Working Groups to facilitate implementation of the Insolvency and Bankruptcy Code, 2016. The Working Group 4 had a mandate to deliberate and submit its recommendations on rules, regulations and other related matters for Information Utilities… Read More »