Month: April 2016

Excisability of bagasse, aluminium/ zinc dross. Withdrawal of Circulars/Instruction in view of Supreme Court Judgment-CBEC Circular

Circular No. 1027/15/2016-CX F. No. 96/115/2015- CX.1 Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Customs) ********* New Delhi, dated the 25th April, 2016 To Principal Chief Commissioner /Chief Commissioner of Central Excise (All), Principal Chief Commissioner /Chief Commissioner of Central Excise …

ICAI-Amended MCA Accounting Standards applicable for accounting periods commencing on/after publication of notification in official Gazette.

ICAI Announcement Applicability of Accounting Standards amended by MCA vide Notification dated March 30, 2016 1.   The Ministry of Corporate Affairs, Government of India, vide Notification No. G.S.R. 739(E), dated 7th December, 2006, notified Companies (Accounting Standards) Rules 2006, in the Official Gazette Rule 1, sub-rule (2), provided that …

SME IPO Listing-A New Opportunity for Private Company

SME….!!! A New Opportunity for Private Company..! Article By Meetesh Shriroya In the Present era, the market is booming up so every Company want to take opportunity to earn more from the same market and want to get maximum benefits out of that, so what are the ways …

Deduction u/s 80-O computed applying average net profit margin for domestic income not considering fixed costs was distorted apportionment-Delhi High Court

In its  latest judgment , Delhi High Court has held that deduction under Section 80-O of the Income tax Act, 1961 computed applying average profit margin for domestic income and not considering fixed costs was a distorted apportionment of net profit. Case Law Details: ITA 264/2002 ITA 415/2004 M/s Continental Carriers …… …

SEBI-Disclosure of Proprietary Trading by Commodity Derivatives Broker to Client and Pro-account Trading Terminal

Securities and Exchange Board of India CIRCULAR SEBI/HO/CDMRD/DMP/CIR/P/2016/49 April 25, 2016 To, The Managing Directors / Chief Executive Officers of All Commodity Derivatives Exchanges and their members Dear Sir / Madam, Sub: Disclosure of Proprietary Trading by Commodity Derivatives Broker to Client and “Pro – account” Trading terminal …