Daily Archives: March 11, 2017

Admiralty Bill 2016 Passed by Lok Sabha

Lok Sabha Passes the Admiralty Bill 2016 The Admiralty (Jurisdiction and Settlement of Maritime Claims) Bill, 2016 was passed by the Lok Sabha yesterday. The Bill aims to establish a legal framework to consolidate the existing laws relating to admiralty jurisdiction of courts, admiralty proceedings on maritime claims, arrest of vessels and related issues. It… Read More »

Rs 10247 crores capital gain tax liability on Cairn affirmed by Delhi ITAT

IN THE ITAT DELHI BENCH ‘D’ Crain U K Holdings Ltd. v. Deputy Commissioner of Income Tax H. S. SIDHU, JUDICIAL MEMBER AND PRASHANT MAHARISHI, ACCOUNTANT MEMBER IT APPEAL NO. 1669 (DELHI) OF 2016 [ASSESSMENT YEAR 2007-08] MARCH  9, 2017 Percy Pardiwala, Sr. Adv. P. Maheshwari CA and Ms. Aarti Sathe Adv. for the Appellant.… Read More »

Safed Musli Grading and Marking Rules 2017 Notification 10.03.2017

MINISTRY OF AGRICULTURE AND FARMERS WELFARE (Department of Agriculture, Co-Operation and Farmers Welfare) NOTIFICATION New Delhi, the 10th March, 2017 G.S.R. 231(E).—Whereas, the Safed Musli Grading and Marking Rules, 2017, in exercise of the powers conferred by section 3 of the Agricultural Produce (Grading and Marking) Act, 1937 (1 of 1937) was published in the… Read More »

100% FDI in e commerce websites via automatic route allowed in India by Govt

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 9th March , 2017 No. FEMA.387/2017-RB Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Fourth Amendment) Regulations, 2017 G.S.R. 224 (E).—In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section… Read More »

NBFC to Disburse loans against gold above Rs 20000 in non cash mode -RBI

RBI/2016-17/245 DNBR (PD) CC.No.086/03.10.001/2016-17 March 09, 2017 All NBFCs Madam/ Sir, Disbursal of loan amount in cash Reference is invited to instructions contained in para 37(iii)(b) of Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve… Read More »

De-sealing of Business Premises – Delhi Vat Department Circular

DEPARTMENT OF TRADE & TAXES, GOVT. OF NCT OF DELHI (POLICY BRANCH) VYAPAR BHAWAN, LP..ESTATE, NEW DELHI. NoF.30/Policy/VAT/2016/1249-54 (645) Dated: 08/03/2017 CIRCULAR NO. 27 OF 2016-17 Subject:- De-sealing of Business Premises In line with the directions of Honrble High Court Delhi, in the matter of Sh. Narender Singh Vs. Deptt. of T&T (in WP(C)1627/2017), the… Read More »

CSR by companies during 2014-15 and 2015-16

CSR by companies Show cause notices have been issued to 1018 companies for 2014-15 for violation of Section 135 read with Section 134(3) (o) of the Companies Act, 2013. The year 2014-15 was the first year of Implementation of CSR by companies under the companies Act, 2013. Assessment of CSR expenditure of 7334 companies for… Read More »