Monthly Archives: April 2017

Applied Network Security- 2017 Book- Arthur Salmon

Applied Network Security Paperback – Import, 28 Apr 2017 by Arthur Salmon (Author) Master the art of detecting and averting advanced network security attacks and techniques About This Book * Deep dive into the advanced network security attacks and techniques by leveraging tools such as Kali Linux 2, MetaSploit, Nmap, and Wireshark * Become an… Read More »

Learning Data Mining with Python- 2017 Book-Robert Layton

Learning Data Mining with Python Paperback – Import, 28 Apr 2017 by Robert Layton (Author) Harness the power of Python to analyze data and create insightful predictive models About This Book * Learn data mining in practical terms, using a wide variety of Python libraries and techniques. * Learn how to find, manipulate, analyze and… Read More »

Transportation Management with SAP TM -Book- Bernd Lauterbach

Transportation Management with SAP TM Hardcover – Import, 28 Apr 2017 by Bernd Lauterbach (Author) Designed for both consultants and logistics providers, this updated bestseller provides the information you need gain a holistic view of all your logistics processes. Learn to plan and document transportation, select carriers, create forwarding orders, and discover industry-tested best practices… Read More »

Sovereign Gold Bond – Dematerialisation

Sovereign Gold Bond – Dematerialisation Date : Apr 28, 2017 The Reserve Bank of India, in consultation with the Government of India, has issued seven tranches of Sovereign Gold Bonds for a total value of ₹ 4800 crore till date. Investors in these bonds have been provided with the option of holding them in physical… Read More »

Category: RBI

Production Planning and Control with SAP ERP -2017 Book- Jawad Akhtar

Production Planning and Control with SAP ERP Hardcover – Import, 28 Apr 2017 by Jawad Akhtar (Author) Step up your SAP PP game. Learn how to configure SAP ERP Production Planning for discrete, process, and repetitive manufacturing and master BOM status definitions, process message characteristics, and master data. Dive into SAP PP workflows and use… Read More »

How to Design and Write Web Pages Today, 2nd Edition-Book- Karl Stolley

How to Design and Write Web Pages Today, 2nd Edition 2nd , Kindle eBook by Karl Stolley (Author) This unique guidebook lays the foundations of contemporary mobile-first, responsive web design, offering writers, designers, and those who teach them a complete and up-to-date approach to web design. • Provides a unique all-in-one guide suitable for beginners… Read More »

Legislative Drafting: Principles and Techniques- 2017 Book- B.R. Atre

Legislative Drafting: Principles and Techniques Hardcover – 1 Mar 2017 by B.R. Atre (Author) Legislative Drafting — Principles and Techniques makes a thorough analysis of the nuances involved in drafting of a legislation. The principles and techniques involved as also the prerequisites which a draftsman needs to equip himself with have been elaborately dealt with… Read More »

Assessee failed to utilize capital gains within 3 years, Sec 54F can’t be denied during assessment

Held As per proviso to sub-section (4) of Section 54F if the amount deposited in capital gain account is not utilized wholly or partly for purchase or construction of new asset within the period specified in sub-section (1) then the amount of capital gain shall be charged under Section 45 as income of the previous… Read More »

Black money received from sale of Agriculture Land is also not Taxable ; ITAT

Facts of the Case The assessee was asked to explain the source of cash deposits in Federal Bank amounting to Rs.80 lakhs. The assessee vide letter dated 30/11/2015 stated that he and his wife had sold agricultural for Rs.70,79,500/- which was deposited in Federal Bank and balance cash deposits are out of agricultural income. The… Read More »

Last date for GST Enrollment at GST Portal is 30 th April 2017

Last date for GST Enrollment at GST Portal (www.gst.gov.in) extended upto 30 Apr. 2017: Enrollments open for existing registered assessees under VAT, Service Tax, Excise; Applicants can now use Mobile Application (Android App); Also check status of Enrollment/ Registration The Government has launched new GST portal/ website (www.gst.gov.in) exclusively for GST. Existing Taxpayers of VAT, Service… Read More »

Category: GST

IBBI invites comments on Draft regulations for Fast Track Resolution process for Eligible Corporate Persons

IBBI invites public comments on Draft regulations for Fast Track Resolution process for Eligible Corporate Persons Insolvency and Bankruptcy Board of India (IBBI) vide Press Release dated 18th April 2017 issued ‘Draft Regulations for Fast Track Resolution Process for Eligible Corporate Persons’ ‘A draft notification under Section 55(2) of IBC, 2016 for eligible corporate debtors’… Read More »

Invoice Format under GST in India

Invoice Format under GST in India Section  31 – Tax invoice – of CGST Act 2017 deals with requirements of  issue of tax Invoice under GST. Invoice Format under GST in India is specified by Draft Invoice formats issued in Sep 2016 CBEC has also issued Draft GST Revised Invoice Rules in  March 2017. Revised GST Invoice Format based… Read More »

Offices of Service Tax in Delhi Zone Shifted

OFFICE OF THE CHIEF COMMISSIONER OF SERVICE TAX DELHI ZONE DEPARTMENT OF REVENUE, MINISTRY OF FINANCE GOVERNMENT OF INDIA PUBLIC NOTICE Offices of Service Tax in Delhi Zone (listed as under) have shifted to the following new address: EIL Annexe Building, Plot No. 2B, Bhikaji Cama Place, New Delhi-110066 EPABX No: 011-40785858 1. Chief Commissioner… Read More »

Income of foreign shipping company not taxable in India under ‘ place of effective management ‘ test

Income of a foreign shipping company not taxable in India under “place of effective management” test: The Rajkot Bench of the Income-tax Appellate Tribunal held that under Article 9 of the India-Denmark income tax treaty, earned by a foreign company from operations of ships in international traffic is not taxable in India because the place of effective… Read More »

8.65% interest rate on employees’ provident funds scheme

8.65% interest rate on employees’ provident funds scheme: The government of India has declared a rate of interest of 8.65% for interest on provident fund accumulations for members of employee provident funds schemes for the financial year 2016-2017. Read an April 2017 report [PDF 311 KB] of KPMG

Race car circuit constitutes “fixed place PE” under India-United Kingdom income tax treaty:

Race car circuit constitutes “fixed place PE” under the India-United Kingdom income tax treaty: The Supreme Court of India held that an international circuit constitutes fixed place of business under the India-UK income tax treaty, since the circuit was under the control and at the disposal of the taxpayer. The case is: Formula One World… Read More »

Notification No. 42/2017-Customs (N.T.), Dated: 28.04.2017

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION-3, SUB- SECTION (ii)] Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 42/2017-CUSTOMS (N.T.) New Delhi, 28th April, 2017 8 Vaisakha, 1939 (SAKA) S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section… Read More »

Net Owned Fund Requirements for Asset Reconstruction Company

RBI/2016-17/295 DNBR. PD (ARC) CC. No. 03/26.03.001/2016-17 April 28, 2017 The Chairman / Managing Director / Chief Executive Officer All registered Asset Reconstruction Companies. Dear Sir, Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002- Section 3 (1) (b) – Requirement of Net Owned Fund (NOF) for Asset Reconstruction Companies. A… Read More »

Hazira (Surat) Seaport included for export promotion benefits

(TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART-I SECTION-I) GOVERNMENT OF INDIA MINISTRY OF COMMERCE AND INDUSTRY DEPARTMENT OF COMMERCE PUBLIC NOTICE No. 06/2015-2020 NEW DELHI, DATED THE 27 APRIL, 2017 Subject: Inclusion of Seaport located at Hazira (Surat) Port as a Port of registration under Para 4.37 of Handbook of Procedures 2015-20… Read More »

SEBI Circular on disclosure of executive remuneration by Mutual Funds

Circular No. SEBI/HO/IMD/DF2/CIR/P/2017/35 All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds Sir/Madam, Subject: Circular on Mutual Funds 1. Please refer to SEBI circular no. SEBI/HO/IMD/DF2/CIR/P/2016/42 dated 18 March 2016. 2. In partial modification of the above mentioned circular, para C of the circular pertaining to disclosure of executive remuneration shall read as… Read More »

Insurance Ombudsman Rules 2017 – Notified

Insurance Ombudsman Rules 2017. MINISTRY OF FINANCE (Department of Financial Services) (INSURANCE DIVISION) NOTIFICATION New Delhi, the 25th April, 2017 G.S.R. 413(E).—Whereas, the draft of certain rules namely, the Insurance Ombudsman Rules, 2016, were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) dated the 15th September, 2016 under the notification of… Read More »

Creation of Computer Terminal Banks in Income Tax Offices

Tel No. 011-23519077 Fax No. 011-23528887 E-mail dgft.systems@incometax.gov.in PR. DIRECTOR GENERAL OF INCOME TAX (SYSTEMS) A R A Centre, Ground Floor. E-2, Jhandewalan Extension New Delhi -110055 S. S Rathore,IRS F. No.ADG(S)-4/JDIT(S)-4-(2)/CTB/2017-18 Dated: 25.04.2017 Dear Subject : Creation of Computer Terminal Banks in Income Tax Offices across the country for providing access to HRMS Module… Read More »

RBI Guidelines on Merchant Acquisition for Card Transactions

RBI/2016-17/296 DCBR.RAD (PCB/RCB) Cir.No.4/7.12.001/2016-17 April 28, 2017 The Chief Executive Officers All Primary (Urban) Co-operative Banks / All State Co-operative Banks (StCBs) / All District Central Co-operative Banks Dear Sir/Madam, Guidelines on Merchant Acquisition for Card Transactions Co-operative banks have been permitted to install both onsite/offsite ATM networks and can issue debit cards on their… Read More »

Role of Chief Risk Officer (CRO) in Banks – RBI Guidlines

RBI/2016-17/294 DBR.BP.BC.No.65/21.04.103/2016-17 April 27, 2017 The Chairman and Managing Director/Chief Executive Officer All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) And Small Finance Banks Madam/Dear Sir, Risk Management Systems – Role of the Chief Risk Officer (CRO) Please refer to the guidelines on Risk Management Systems issued vide our circular DBOD.No.BP.(SC).BC.98/21.04.103/99… Read More »

DVAT – Date Extended for online return -4 th quarter 2016-17

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI (POLICY BRANCH) VYAPAR BHAWAN, I.P.ESTATE, NEW DELHI-110 002 No.F.7(420)/VAT/Policy/2011/PF/121-126 Dated: 28/04/2017 CIRCULAR NO. 2 of 2016-17 Sub: Filing of online return for 4th quarter of 2016-17 – extension of period thereof. In exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005,… Read More »

CBDT Signs 2 UPA with Indian taxpayers

Central Board of Direct Taxes (CBDT) signs two Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers, strengthening the Government’s commitment to foster a non-adversarial tax regime The total number of APAs entered into by the CBDT has reached 154, which includes 11 bilateral APAs and 143 unilateral APAs The Central Board of Direct Taxes (CBDT)… Read More »