Corporate Updates – 27-12-2016


Registration open for Practicing Company Secretaries who have obtained Certificate of Practice in last 2 years and Company Secretaries who intend to obtain the Certificate of Practice for TWO DAYS PCS INDUCTION PROGRAM (PIP) being organised by NIRC of ICSI on 3rd & 4th January, 2017 (Tuesday & Wednesday) at 9.30 AM onwards at ICSI-NIRC Building, 4, Prasad Nagar Institutional Area, New Delhi to support & build the capacities of young entrants into practice. Certification of Participation will be awarded to all participants. Fee: Rs. 500/- per delegate inclusive of Service Tax: PCH : 08. Online Registration facility available.


Ministry of Finance Department of Revenue Central Board of Direct Taxes, has issued Clarifications on the Direct Tax Dispute Resolution Scheme, 2016. The Direct Tax Dispute Resolution Scheme, 2016 incorporated as Chapter X of the Finance Act, 2016 provides an opportunity to tax payers who are under litigation to come forward and settle the dispute in accordance with the provisions of the Scheme. CBDT has received queries from the field authorities and other stakeholders and decided to clarify the same in the form of questions and answers. It is clarified that to avails the Scheme, assessee cannot contest the constitutional validity of retrospective amendment in the High Court or Supreme Court and he has to withdraw the writ petition. Further, the search cases are not eligible for the Scheme, an assessment made consequent to search under section 143(3) read with section 153B of the Act is not eligible to avail the Scheme.


RBI has issued Clarification on Interest Subvention Scheme for Short Term Crop Loans during the year 2016-17. This Scheme provides an additional interest subvention of 3% besides subvention of 2% per annum to the prompt payee farmers from the date of disbursement of the crop loan upto the actual date of repayment by farmers or upto the due date fixed by banks for repayment of crop loans whichever is earlier subject to a maximum period of one year from the date of disbursement. Further, Banks may consider the above while submitting their one-time consolidated 3% additional subvention claims pertaining to the disbursements made during the entire year 2016-17.

News from NIRC of ICSI

NIRC – ICSI announces niro and also through signed hard copy addressed to The Chairman, NIRC of ICSI, ICSI-NIRC Building, Plot No.4, Prasad Nagar Institutional Area, Near Rajendra Place, New Delhi – 110005). Three best entries shall be awarded with a Citation, Trophy, Cash Prize & Publications.

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