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  • Bank Depositors, beware

    Bank Depositors, beware

    Published: 13 Feb 2018

    Money is a never-ending problem, said Alvin Ailey. Those who lack money, crib about the lack of it. Those who have, debate when, where and how to spend, save or invest it, how to reap dividends and how to keep it safe. For conservative Indian investors and most of retired Indians, bank deposits are the most popular instruments. They are considered to be the safest. However, the proposed Fina...

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  • E-assessment to curb tax officials corruption

    E-assessment to curb tax officials corruption

    Published: 12 Feb 2018

    For ages, taxpayers in India have been complaining of tax terrorism – harassment by tax officials was very common. There is hardly any taxpayer who has not been bombarded with requests for unnecessary or irrelevant information or bribe in lieu thereof. Many taxpayers even had to pay bribes for seeking refunds. To alleviate these complaints and concerns, the government is all set to roll out an e...

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  • Amendments to Negotiable Instruments Act

    Amendments to Negotiable Instruments Act

    Published: 11 Feb 2018

    Payment via cheque by issuer to the payee is a long-standing mode of effecting payment through banks. Payment via account payee cheques does strengthen the cashless campaign in India program. However, this is just one side of a coin.   On the other hand, a cheque issued by issuer (with no / insufficient balance in such person’s bank account) to payee with intent of committing default...

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  • Empowering the consumer

    Empowering the consumer

    Published: 10 Feb 2018

    The Union Cabinet has approved new Consumer Protection Bill, 2017 (Bill) to amend the existing Consumer Protection Act, 1986. The Bill will substitute the initial Consumer Protection Bill introduced in August, 2015. The underlying intent of passing the Bill is that to establish consumer protection authority for quick disposal of consumer cases, to impose strict punishment for misleading advertis...

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  • Non-compliance of CSR norms to invite penal action

    Non-compliance of CSR norms to invite penal action

    Published: 09 Feb 2018

    The government is getting serious about effective implementation of prescribed CSR norms by profit making corporates. To hand out a strong message to the corporate community that no corporate will be spared for breaking the laws, the Ministry of Corporate Affairs has gives its nod to initiate penal action against 187 companies for dwindling to meet the terms of Corporate Social Responsibility (C...

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  • Overhauling the Indian medical system

    Overhauling the Indian medical system

    Published: 08 Feb 2018

    The Indian medical system has been facing flak over a variety of reasons for last few years including policy paralysis, corruption and what not. Taking cognizance, the Union Cabinet has approved the National Medical Commission Bill, 2017 (Bill) – this legislation will replace the existing Medical Council Act, 1956 and is expected to bring about rare reforms in the Indian medical system. The most...

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  • You can't evade tax authorities now ...

    You can't evade tax authorities now ...

    Published: 07 Feb 2018

    For many years, some taxpayers were successful in avoiding the scanner of the Income Tax Department (IT) by providing off-beam place of residence for communication to the IT authorities and staying elsewhere. This mechanism made it tough for IT authorities to track the tax payers to issue tax default notice. According to existing IT laws, IT department has the authority to issue the default noti...

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  • Riskometer - a warning signal to investors

    Riskometer - a warning signal to investors

    Published: 06 Feb 2018

    Protection of investor’s interest is very high on agenda of the Securities and Exchange Board of India (SEBI) these days. The primary reason could be that the capital markets are increasingly susceptible to fraudulent transactions ensuing in heavy losses to the innocent investors. At the moment, Indian capital market is witnessing all-time high valuations. As a consequence, investors are going c...

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