Daily Archive: Thursday, December 1, 2016

Seized-confiscated custom gold sales guidelines. Disposal to be routed through PSBs approved by RBI to import sell gold, MMTC Ltd. and STC Ltd

Author: | Categories: Custom No comments
Seized-confiscated custom gold sales guidelines. Disposal  to be routed through PSBs approved by RBI to import sell gold, MMTC Ltd. and STC Ltd. Circular No. 57/2016-Customs F. No. 711/04/2011-CUS (AS) Government of India Ministry of Finance Department of Revenue Anti Smuggling Unit (CBEC) Room No. 512, 51th Floor, Hudco

 

Gold jewellery ornaments holding limit and seizure-clarification

Author: | Categories: Income Tax No comments
Gold jewellery ornaments holding limit and seizure-clarification   Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 01 December, 2016. PRESS RELEASE Sub: Clarifications with respect to Gold Jewellery under Income Tax Law In order to remove any doubt about the current

 

Fake RBI social media demonetisation circular information. RBI advises bank and public not to rely onunsecured-unofficial social media chanels

Author: | Categories: RBI No comments
Fake RBI social media demonetisation circular information. RBI advises bank and public not to rely onunsecured-unofficial social media channels. From yesterday, a fake circular/notification bearing serial number RBI/2016-17/166 purporting to be from RBI was in active circulation in social media channels (whatsapp, facebook accounts etc. ). According to the

 

Jewellery acquired out of disclosed-exempted income not taxable under the proposed taxation amendment Bill 2016

Author: | Categories: Finance Ministry No comments
Jewellery acquired out of disclosed-exempted income not taxable under the proposed taxation amendment Bill 2016-Govt clears apprehensions Ministry of Finance 01-December, 2016 Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable

 

Delhi HC-Weddings cash withdrawal limits not unjustified or unwarranted

Author: | Categories: High Courts, Judgments No comments
Delhi HC-weddings cash withdrawal limits not unjustified and unwarranted as the rigid conditions apply only when payments exceeds Rs. 10000/- ABCAUS Case Law Citation: ABCAUS 1069 (2016) (11) HC Important Case Laws cited: Parisons Agrotech (P) Ltd. v. Union of India (2015) 9 SCC 657, Manohar Lal Sharma v.

 

Imprest account not necessarily part of partner capital account as held by ITAT was without properly analysing evidence-HC

Author: | Categories: High Courts, Income Tax, Judgments No comments
Imprest account not necessarily part of partner capital account as held by ITAT was based merely on partner’s statement without properly analysing the evidence-High Court ABCAUS Case Law Citation: ABCAUS 1068 (2016) (11) HC Brief Facts of the Case: The responding assessee was a partnership fir. The return of

 

Insolvency and Bankruptcy Application to Adjudicating Authority Rules 2016-Procedures

Author: | Categories: MCA No comments
Insolvency and Bankruptcy Application to Adjudicating Authority Rules 2016-Procedure for filing application by creditors and demand notice MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th November, 2016 G.S.R. 1108(E).—In exercise of the powers conferred by clauses (c), (d), (e) and (f) of sub-section (1) of section 239 read