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Updates Of the Day

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1. CIT duly empowered to decline request for waiver of interest u/s. 234C of the Income Tax Act – [The Fertilizers and Chemicals Travancore Ltd. vs. DCIT (Kerala High Court)]

 2.Refund of excess salary which was granted in earlier years is deductible because the assessee is under legal obligation to repay the amount. Ahmadabad Tribunal -Vrajeshwari Parikh.

 3. State governments not competent to levy VAT on MRP - High Court of Patna- Mapra Laboratories Pvt. Ltd. vs. CV.

 4. The Employees Provident Fund Organisation (EPFO) increased the maximum amount assured under its deposit linked insurance to Rs.6 lakh.

 5. Reserve Bank of India relaxed norms for banks to grant certain loans to their chief executives and directors.

 6. Finance Minister unveils guidelines of 'Gold Monetization Scheme' and 'Gold Bond Scheme'.

 7. The office of Regional Director, North, MCA working from Ground Floor, A-14, PDIL Bhawan, Sector-1, NOIDA has been shifted to B-2 Wing, 2nd Floor, Paryavaran Bhawan, CGO Complex, New Delhi-110003 w.e.f. 15.09.2015.

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