CBDT Notification – Rules amended to restrict depreciation rate at 40 per cent

Generally, depreciation is an allowance which is available for persons/entities having income from business or profession. As per the CBDT Notification No. 103/2016, the highest rate of depreciation allowable as per income tax has been restricted to 40% for all assets, which were eligible for depreciation at a rate higher than 40%. The amendment is applicable … Continue reading CBDT Notification – Rules amended to restrict depreciation rate at 40 per cent

The Hindu Disposition of Property Act, 1916

1. Short title and extent.- (1) This Act may be called the Hindu Disposition of Property Act, 1916. 1[(2) It extends2to the whole of India except the State of Jammu and Kashmir.]3 ——————————— 1. Subs. by Act 48 of 1959, sec. 3 and Sch. I, for sub-section (2) (w.e.f. 1-2-1960). 2. This Act has been … Continue reading The Hindu Disposition of Property Act, 1916

The Securities and Exchange Board of India (SEBI) Act 1992

Section 1. Short title, extent and commencement [Act No. 15 OF 1992] [4th April, 1992] An Act to provide for the establishment of a Board to protect the interests of investors in securities and to promote the development of, and to regulate, the securities market and for matters connected therewith or incidental thereto. BE it … Continue reading The Securities and Exchange Board of India (SEBI) Act 1992

[Bare Acts] The Foreign Exchange Management Act, 1999

1. Short title, extent, application and commencement – ACT NO. 42 OF 1999 [29th December, 1999.] An Act to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. BE it enacted by … Continue reading [Bare Acts] The Foreign Exchange Management Act, 1999

Prevention of Money-Laundering (Amendment) Act, 2005

1. Short title and commencement. (1) This Act may be called the Prevention of Money-Laundering (Amendment) Act, 2005. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act. 2. Amendment of Section … Continue reading Prevention of Money-Laundering (Amendment) Act, 2005