Friday, August 15, 2014
Wednesday, July 16, 2014
Thursday, July 10, 2014
Tagged under: CURRENT NEWS & ANALYSIS
To Download :
- Indian Custom Single Window Project to be taken up for facilitating trade.
- Clean energy cess increased from Rs 50/ tonne to Rs 100/tonne.
- Additional 5% excise tax to be levied on aerated drinks with added sugar (cold drinks). Tobacco products also to get costly as excise duty hiked to 72%
- Government announces reduction in excise duty for specified food package industry from 10% to 6%.
- Excise duty on footwear reduced from 12% to 6%
- Basic custom duty on LED panel below 19 inch made nil.
- Government announces measures to encourage manufacture of LCD/LED panels of TVs.
- Housing loan rebate to raised from Rs 1.5 lakh to Rs 2 lakh.
- Net effect of direct tax proposals is revenue loss of Rs 22,200 crore.
- Government proposes to increase investment limit under Section 80C from Rs 1 lakh to Rs 1.5 lakh.
- Tax exemption limit for small and marginal, and senior tax payers changed from Rs 2.0 to Rs 2.5 lakh. For senior citizens, no tax for income up to Rs 3 lakh per annum.
- No changes in tax rate.
- PPF limit to be raised to Rs 1.5 lakh: Jaitley
- Rs 100 crore for training of sportspersons for upcoming Asian Games.
- Government announces Rs 150 crore for communication needs of Andaman and Nicobar islands.
- Government announces Arun Prabha channel for northeastern region; will be 24/7 channel.
- Rs 1000 crore provided for rail connectivity in northeastern region.
- Programme for displaced Kashmiri migrants with Rs 500 crore to be started.
- Rs 100 crore set aside for project to link rivers.
- Government announces Rs 100 crore for development of Archaeological sites. Gaya to be developed as world class tourism spot.
- Rs 5000 crore set aside for defence outlay over and above amount provided under interim budget.
- National Police Memorial to be set up. Rs 50 crore set aside for this purpose.
- Rs 100 crore set aside for development of Technology Development Fund.
- Rs 100 crore War Memorial at Princess Park, India Gate.
- Policy of One Rank One Pension to be adopted for defence personnel.
- RBI will create framework for licenses of small banks.
- Government aims to provide all households with banking facilities to empower the weaker sections; there should be atleast 2 bank a/cs in each household.
- Urgent need to converge current Indian standard with international accounting standards: Jaitley
- Rs 37, 800 crore allotted for National Highways.
- Revision of rate of royalty on minerals to be taken up on request from the states.
- In order to complete gas grid, 15000 km of additional pipeline to be developed through PPP mode.
- New and renewable energy deserves high priority; ultra modern power projects to be taken up in Rajasthan, Tamil Nadu, Ladakh with Rs 500 crore.
- Rs 4200 crore set aside for Jal Marg Vikas project on river Ganga connecting Allahabad to Haldia , over 1620 km.
- Scheme for development of new airports at tier II and III cities through PPP mode.
- Rs 200 crore set aside for 6 more textile clusters in Rae Bareily, Lucknow, Surat, Bhagalpur. Rs 50 crore set aside for Pashmina Production program in J&K.
- MSMEs are the backbone of the economy; to be revived through a Committee to examine and report in three months.
- 6 more textile clusters to be set up.
- Industrial Smart Cities to come up at 7 cities.
- All govt departments and ministries to be integrated through E-platform by 31 December this year.
- Rs 100 crore set aside for Kisan Television to provide real time information on various farming and agriculture issues.
- National Industrial Corridor to be set up. Rs 1000 crore set aside for this.
- Rs 5000 crore short time rural credit refinance fund for 2014-15.
- Rs 50 core set aside for indigenous cattle breed and blue revolution for inland fisheries.
- Propose to provide finance to 5 lakh landless farmers through NABARD.
- Govt will initiate scheme to provide a soil health card; Rs 100 crore set aside. Rs 56 crore for soil testing labs across the country.
- Agriculture University in Andhra Pradesh and Rajasthan, and Horticulture University in Haryana, Telangana; Rs. 200 cr set aside by the government.
- Slum development to be included in Corporate Social Responsibility activities.
- Govt announces Rs 100 crore for modernization of madrassas.
- Govt announces development of Metro rails in PPP mode; Rs 100 crore set aside for metro scheme in Ahmedabad and Lucknow.
- Rs 100 crore set aside for Community Radio Centres; 600 new and existing ones will be supported.
- National Rural Internet and Technology Mission; Rs 500 crore set aside.
- Govt proposes to set up Center of Excellence in MP named after Lok Nayak Jai Prakash Narayan.
- 5 more IITs and 5 IIMs to be set up .
- Propose to set up four more AIIMS; Rs. 500 crore set aside for this. Six new AIIMS started recently have become functional. Four new AIIMS will be set up in Andhra Pradesh, West Bengal, Vidarbha and Purvanchal.
- Govt proposes National Housing Banking programme; sets aside Rs 8000 crore for this program.
- Pradhan Mantri Gram Sadak Yojana has a massive impact on rural development; Govt sets aside Rs 14,389 crore for this scheme.
- Crisis Management Center for women at Delhi; money to be provided from Nirbhaya fund.
- Govt announces Beti Padhao, Beti Badhao Yojana; sets aside Rs 100 crore for this.
- Safety of women of prime importance.
- EPFO will launch a unified account scheme for portability of Provident Fund accounts.
- Schemes for disabled persons in the country. 15 new Brail presses to be established and revival of 10 existing.
- Rs 50,548 crore proposed for Schedule Caste development.
- Govt committed to providing 24/7 power supply to all homes. Deen Dayal Upadhyay Gram Jyoti Yojna for electricity supply to rural areas.
- Rs 200 crore for 'Statue of Unity' of Sardar Vallabh Patel.
- Pradhan Mantri Krishi Sichayin Yojana to be started for irrigation.
- We will examine proposal to give additional autonomy to banks and make them more responsible: Jaitley
- E-visas to be introduced at nine airports in India in phased manner.
- FDI in insurance to be increased to 49%
- FM announces FDI in defence up from 26 to 49 % with Indian management and control
- Transfer pricing is major area for litigation; proposes changes in transfer pricing regulation: Jaitley
- I propose to strengthen authority for advance ruling in tax: Jaitley
- Aim to achieve 7-8 per cent economic growth rate in next 3-4 years.
- We wish to provide an investment friendly taxation system: Jaitley
- This govt will not ordinarily change policies retrospectively which creates a fresh liability.
- GST will streamline tax administration and result in higher tax collection for center and states.
- A new urea policy would be formulated.
- Considering that we had two years of low GDP growth, a large subsidy burden, target of 4.1% fiscal burden is daunting: Jaitley
- We must address the problem of black money: Jaitley
- Iraq crisis leading behind an impact. Inflation has remained at elevated level: Jaitley
- We have taken up the challenge in the right ernest; will create a vibrant and strong India: Jaitley.
- The task before me is very challenging. We need to introduce fiscal prudence. there is an urgent need for more reforms.
- The steps I will announce are only the beginning of the journey we wish to take for macroeconomic stabilization: Jaitley
- People below poverty line anxious to free themselves: Jaitley
- Green shoots of recovery seen in world economy.
- We look forward to lower inflation: Jaitley
- To Meet 4.1% Fiscal Deficit Target.
- FY16 FISCAL DEFICIT TARGET AT 3.6%.
- FY17 FISCAL DEFICIT TARGET AT 3%.
- To Overhaul Subsidy Regime, Especially Food & Fuel.
- To Formulate New Urea Policy.
- Govt will constitute an Expenditure Management Commission.
- Hope We Can Bring A Solution To GST Issue This Year.
- Committed to providing a stable, investor-friendly tax regime.
- Will Not Change Rules On Retrospective Taxation.
- This govt will not create any law which will retrospectively lead to tax liability.
- FDI in defence raised to 49%.
- Insurance FDI raised to 49%.
- Need to infuse Rs2.4Lcr in PSU banks by 2018.
- To Sell Shares In Banks To Retail Investors.
- Pass-through Status For REITs.
- To raise FDI insurance to 49% | Need over Rs 2 lakh crore to fund PSU banks.
- Will Examine Proposal To Give Addl Autonomy To Banks.
- PSUs Plan Rs.2.47 Lk Cr Capex In FY15.
- E-commerce sales in retail allowed without additional approval.
- To Give Rs.7,060 Cr To Develop 100 Smart Cities.
- Allocate Rs.1,000 Cr For PM Irrigation Scheme.
- Plan Kisan Vikas Patra For Banked, Unbanked Population.
- To Allocate Rs.500 Cr For New Rural Power Plan.
- Allocate Rs.50,500 Cr For Scheduled Caste, Tribe Schemes.
- Extend Senior Citizens' Pension Plan Till August 2015.
- To Allocate Rs.500 Cr For New Rural Power Plan.
- To Give Rs.14,389 Cr For Rural Roads Development.
- Rs 150 crore to be spent on safety of women in all cities.
- Rs 500 crore allocated for 4 new AIIMs.
- Rs 6500 crore allocated for safe drinking water.
- Infra Invst Trusts To Be Set Up To Securitise Infra Projs.
- FM Arun Jaitley proposes to set up 5 new IIMs and 5 new IITs.
- Allocating 500 cr for 4 new AIIMS units; to create AIIMS in all States.
- FM Arun Jaitley proposes National Rural Internet and Technology Mission; Rs. 500 crores allocated.
- To spend Rs 28635 cr for Sarva Siksha Abhyaan.
- To Allocate Rs.100 Cr For Metro Projs For Lucknow & Ahmedabad.
- Rs.4,000 Cr For Affordable Housing Via NHB.
- Rs4000 crores for National Housing Bank for low-cost housing.
- To Allocate Rs.12,000 Cr To NHB.
- Plan Rs.50,000 Cr For Municipal Debt Management For Infra.
- Rs. 100 cr for modernisation of madrasas.
- Plan Rs.50,000 Cr For Municipal Debt Management For Infra.
- Allocate Rs.100 Cr For Agri Infra Fund.
- Proposes 50000 cr for urban infra projects; proposes Metro projects in cities with 20 lk people.
- Allocating 100 cr to set up Agri Infra Fund. Allocating 200 cr to set up Agri Univs in Haryana, states.
- See FY15 Agricultural Growth At 4%.
- Propose To Continue Interest Subvention For Farmers.
- To Set Aside Rs.8 Lk Cr For Farm Credit In FY15.
- Plan To Finance 5 Lk Landless Farmers.
- To set up a long term rural credit fund within NABARD.
- Committed to introduce 2nd Green Revolution; Proposes Rs 500 cr farm price stabilisation fund.
- To Undertake Open Mkt Sales Of Foodgrains When Required.
- Restructuring Food Corp Of India To Be A Priority.
- Kisan television will be launched to give real time information on advanced agriculture system.
- Allocate Rs5,000 Cr For Farm Warehousing Plan.
- Propose Rs.10,000 Cr Fund For Start-up Firms.
- Propose Rs.200 Cr To Set Up 6 More Textile Clusters.
- 16 new ports to be developed.
- Propose Rs.11,635 Cr For Harbour Projects This FY.
- To set up textile mega clusters in Varanasi & 5 other cities. Textile mega clusters to cost 200 cr.
- Propose Rs.37,850 Cr Investment In NHAI & State Roads This FY.
- Propose Scheme For Dvpt Of Airports In Tier-I, II Cities.
- Propose Work On Expressways Parallel To Indl Corridors.
- Adequate Coal To Be Given To Existing Power Plants.
- NHAI To Target 8,000 km Of Road Development In FY15.
- Propose Rs.500 Cr For Ultra Modern Solar Power Projects in Rajasthan,Tamil Nadu, Ladakh.
- Rs.100Cr For Preparatory Work Of Clean Thermal Energy Scheme.
- Require additional 15,000 km of gas pipelines. To set up additional pipelines amounting to 15,000 km.
- To Introduce Single Demat A/c For All Fin Transactions.
- New Indian Accounting Standard For Financial Sector From FY17.
- To Let Bks Raise Long-term Funds W/Minimum Regulations.
- To change tax laws governing FIIs, whose managers based abroad. Proposes extending 5% withholding tax to all bonds.
- Allocate Rs.2.29 Lk Cr For Defence Sector.
- To Enhance PPF Contribution To Rs.1.5 Lk.
- To Allocate Rs.3,000 Cr For State Police Modernisation.
- Rs.990 Cr For Socio-economic Dvpt Of Villages Along Border.
- Rs 1000 crore allocated for One Rank One Pension plan.
- Rs 2000 crore allocated for Ganga Namami yojana, Rs 100 crore set for ghat development.
- Rs 1000 crore allocated for rail connectivity in Northeast region.
- Non-plan Expenditure At Rs.12.2 Lk Cr.
- Plan Expenditure At Rs.5.75 Lk Cr For FY15.
- Total Expenditure At Rs.17.9 Lk Cr In FY15.
- Revenue deficit to be 2.9% in fy15.
- No changes in tax rates.
- To Up Personal Income Tax Exemption To Rs.2.5 Lk.
- Tax Exemption Increased To Rs.3 Lk For Senior Citizens.
- 80c Exemption Limit Increased To Rs.1.5 Lk
- Exemption For Self-Occupied Homes Raised To Rs.2 Lk.
- Education Cess To Continue At 3%.
- Invst Allowance Of 15% On Invst Of >Rs.25 Cr In Mfg.
- Propose To Extend 10-Yr Tax Holiday For Power.
- Budget Assumes Tax Revenue Growth Of 19.7% Vs 21% Voa.
- Propose To Retain 15% Tax Rate On Intl Dividend Income.
- To Hike Tax Rate To 20% For Transfer Of Mf Units.
- 10% Customs Duty On Some Telecom Products.
- To Cut Customs Duty On Lcd, Led Panels Sub-19 Inch To Nil.
- Hikes Customs Duty On Flat Steel Products To 7.5% From 5%.
- To Cut Excise Duty On Food Processing To 6%.
- To Reduce Excise Duty On Footwear.
- To Hike Excise Duty On Cigarettes By 11-72%
- Hikes Excise Duty On Gutka To 70% From 60%.
Tuesday, July 8, 2014
Tagged under: CURRENT NEWS & ANALYSIS, UPDATES
Union Railway Minister D.V. Sadananda Gowda presented his maiden Railway Budget in Parliament on Tuesday. Here are the highlights of this Budget
ü No new increase in passenger fares and freight charges
ü Bullet train in Mumbai-Ahmedabad sector
ü Diamond quadrilateral for high speed trains
ü Plan to hike speed of trains to 160-200 km/hr in 9 sectors
ü Online booking to support 7,200 tickets per minute; to allow 1.2 lakh users log in simultaneously
ü Reservation system to be revamped, ticket-booking through mobile phones, post offices to be popularised
ü Online platform for unreserved tickets
ü Combo parking-platform tickets at stations
ü Women RPF Constables to escort ladies coaches; 4,000 women constables to be inducted
ü Retiring room facility to be extended to all stations
ü Battery operated cars for differently-abled and senior citizens at major stations
ü Feedback services through IVRS on quality of food
ü Food can be ordered through SMS, phone; Food courts at major stations
ü Cleanliness budget up by 40 per cent over last year
ü CCTVs to be used at stations for monitoring cleanliness
ü Setting up of corpus fund for stations’ upkeep; RO drinking water in some stations and trains
ü Automatic door closing in mainline and sub-urban coaches
ü 58 new trains and extension of 11; 864 additional EMUs to be introduced in Mumbai over 2 years
ü FDI in railway projects, except in operations
ü FDI, domestic investments in rail infrastructure
ü Office-on-Wheels: Internet & workstation facilities on select trains
ü WiFi in A1, A category stations and in select trains
ü Railways university for technical and non-technical subjects
ü Some stations to be developed to international standards through PPP model
ü Parcel traffic to be segregated to separate terminals to make passenger traffic unhindered
ü Loss per passenger per kilometre up from 10 per cent in 2000-01 to 23 per cent in 2012-13
ü Solar energy to be tapped at major stations
ü Highest ever plan outlay of Rs. 65,455 crore for 2014-15
ü Expenditure in 2014-15 pegged at Rs. 149,176 crore.
i) Ahmedabad-Darbhanga Jansadharan Express via Surat
Ii Jaynagar-Mumbai Jansadharan Express
ii) Mumbai-Gorakhpur Jansadharan Express
iv) Saharasa-Anand Vihar Jansadharan Express via Motihari
v) Saharasa-Amritsar Jansadharan Express
i) Mumbai Central-New Delhi Premium AC Express
ii) Shalimar-Chennai Premium AC Express
iii) Secunderabad-Hazrat Nizamuddin Premium AC Express 6
iv) Jaipur-Madurai Premium Express
v) Kamakhya-Bengaluru Premium Express
i) VijayawadaNewDelhiAPExpress (Daily)
ii) LokmanyaTilak(T)-Lucknow (Weekly)
iii) Nagpur-Pune (Weekly)
iv) Nagpur-Amritsar (Weekly)
v) Naharlagun-NewDelhi (Weekly)
vi) Nizamuddin-Pune (Weekly)
i) Ahmedabad-Patna Express (Weekly)via Varanasi
ii) Ahmedabad Chennai Express (Biweekly)via Vasai Road
iii) Bengaluru -Mangalore Express (Daily)
iv) Bengaluru -Shimoga Express (Biweekly)
v) Bandra(T)-Jaipur Express (Weekly) via Nagda, Kota
vi) Bidar-Mumbai Express (Weekly)
vii) Chhapra-Lucknow Express (Tri weekly) via Ballia, Ghazipur, Varanasi
viii) Ferozpur-Chandigarh Express (6 days a week)
ix) Guwahati-Naharlagun Intercity Express (Daily)
x) Guwahati-Murkongselek Intercity Express (Daily)
xi) Gorakhpur-Anand Vihar Express (Weekly)
xii) Hapa-Bilaspur Express (Weekly)via Nagpur
xiii) Hazur Saheb Nanded-Bikaner Express (Weekly)
xiv) Indore-Jammu Tawi Express (Weekly)
xv) Kamakhya-Katra Express (Weekly) via Darbhanga
xvi) Kanpur-Jammu Tawi Express (Biweekly)
xvii) Lokmanya Tilak(T)-Azamgarh Express (Weekly)
xviii) Mumbai_Kazipeth Express (Weekly) via Balharshah
xix) Mumbai-Palitana Express (Weekly)
xx) New Delhi Bhatinda Shatabdi Express (Biweekly)
xxi) New Delhi-Varanasi Express (Daily)
xxii) Paradeep-Howrah Express (Weekly)
xxiii) Paradeep-Visakhapatnam Express (Weekly)
xxiv) Rajkot-Rewa Express (Weekly)
xxv) Ramnagar-Agra Express (Weekly)
xxvi) Tatanagar Baiyyappanahali (Bengaluru) Express (Weekly)
xxvii) Visakhapatnam-Chennai Express (Weekly)
i) Bikaner-Rewari Passenger (Daily)
ii) Dharwad-Dandeli Passenger (Daily)via Alnavar
iii) Gorakhpur-Nautanwa Passenger (Daily)
iv) Guwahati-Mendipathar Passenger (Daily)
v) Hatia-Rourkela Passenger 7
vi) Byndoor-Kasaragod Passenger (Daily)
vii) Rangapara North-Rangiya Passenger (Daily)
viii) Yesvantpur-Tumkur Passenger (Daily)
i) Bengaluru-Ramanagaram 6 days a week (3 Pairs)
i) Bengaluru-Neelmangala (Daily)
ii) Chhapra-Manduadih (6days a week) via Ballia
iii) Baramula-Banihal (Daily)
iv) Sambalpur-Rourkela (6 days a week)
v) Yesvantpur-Hosur (6 days a week)
Wednesday, July 2, 2014
Tagged under: NOTIFICATIONS
Monday, June 23, 2014
Tagged under: NOTIFICATIONS, Nov 2014 Exams
Revision of syllabus of Group – I
Paper- 4 - Taxation – Part – II
Group – II
Paper – 7 - Section A: Information Technology
of Intermediate (IPC) Course
INTERMEDIATE (IPC), GROUP I, PAPER 4: TAXATION
PART II – INDIRECT TAXES (50 MARKS)
To develop an understanding of the basic concepts of the different types of indirect taxes and to
acquire the ability to analyse the significant provisions of service tax.
1. Introduction to excise duty, customs duty, central sales tax and VAT – Constitutional
aspects, Basic concepts relating to levy, taxable event and related provisions
2. Significant provisions of service tax
(i). Constitutional Aspects
(ii) Basic Concepts and General Principles
(iii) Charge of service tax including negative list of services
(iv) Point of taxation of services
(v) Exemptions and Abatements
(vi) Valuation of taxable services
(vii) Invoicing for taxable services
(viii) Payment of service tax
(x) Furnishing of returns
(xi) CENVAT Credit [Rule 1 -9 of CENVAT Credit Rules, 2004]
Note – If new legislations are enacted in place of the existing legislations the syllabus will
accordingly include the corresponding provisions of such new legislations in place of the existing
legislations with effect from the date to be notified by the Institute. Students shall not be examined
with reference to any particular State VAT Law.
Intermediate (IPC), Group-II, Paper-7A: Information Technology
Paper - 7A: Information Technology (50 Marks)
Level of Knowledge: Working Knowledge
Objective: “To develop understanding of Information Technology as a key enabler and facilitator of
implementing Information Systems in enterprises and their impact on business processes and controls”.
1. Business Process Management & IT
· Introduction to various Business processes – Accounting, Finances, Sale, Purchase etc.
· Business Process Automation – Benefits & Risks
· Approach to mapping systems : Entity Diagrams, Data Flow Diagrams, Systems Flow
diagrams, Decision trees/tables,
· Accounting systems vs. Value chain automation, Information as a business asset
· Impact of IT on business processes, Business Risks of failure of IT
· Business Process Re-engineering
2. Information Systems and IT Fundamentals
· Understand importance of IT in business and relevance to Audit with case studies.
· Understand working of computers and networks in business process automation from
business information perspective
· Concepts of Computing (Definition provided by ACM/IEEE and overview of related
· Overview of IS Layers – Applications, DBMS, systems software, hardware, networks &
links and people
· Overview of Information Systems life cycle and key phases
· Computing Technologies & Hardware – Servers, end points, popular computing
architectures, emerging computing architectures & delivery models – example: SaaS, Cloud
Computing, Mobile computing, etc.
· Example: Overview of latest devices/technologies – i5, Bluetooth, Tablet, Wi-Fi, Android,
Touchpad, iPad, iPod, Laptop, Notebook, Smartphone, Ultra- Mobile PC etc.)
3. Telecommunication and Networks
· Fundamentals of telecommunication
· Components and functions of Telecommunication Systems
· Data networks – types of architecture, LAN, WAN, Wireless, private and public
· Overview of computing architectures – centralised, de-centralised, mainframe, clientserver,
thin-thick client etc.
· Network Fundamentals – Components, Standards and protocols, Network risks &
controls – VPN, Encryption, Secure protocols,
· Network administration and management – concepts and issues
· How information systems are facilitated through telecommunications.
· How Internet works, Internet architecture, key concepts, risks and controls
· e-Commerce and M-commerce technologies
4. Business Information Systems
· Information Systems and their role in businesses
· IT as a business enabler & driver – ERP, Core Banking System, CRM, SCM, HRMS,
· The relationship between organisations, information systems and business processes
· Accounting Information Systems and linkages to Operational systems
· Business Reporting, MIS & IT
· Organisation Roles & responsibilities and table or authorities, importance of access
controls, privilege controls
· Specialised systems - MIS, DSS, Business Intelligence, Expert Systems, Artificial
Intelligence, Knowledge Management systems etc.
5. Business process automation through Application software
· Business Applications – overview and types
· Business Process Automation, relevant controls and information systems
· Information Processing & Delivery channels and their role in Information Systems
· Key types of Application Controls and their need
· Emerging concepts – Virtualisation, Grid Computing, Cloud delivery model
For Official Notification :
Applicability of Companies Act 2013
(Paper 2 - Law)
Applicability of Companies Act 2013
(Paper 2 - Law)
As students may be aware that The Companies Act 2013 has been notified in the Official Gazette on 30th August, 2013 stating that different dates may be appointed for enforcement of different provisions of this Act through notification of the Central Government in this regard.
Having regard to the above development, the Council at its 330th meeting revised the syllabus in a limited manner in the following papers of Intermediate (IPC) as per Annexure I .
The Central Government has notified 98 sections of The Companies Act 2013 on 12th September, 2013. Accordingly, those 98 notified sections are applicable for November 2014 examinations corresponding to their bifurcation into the Intermediate (IPC) and Final Course(s),
i.e. from these 98 sections, 53 sections have been included in the Paper – 2, Business Laws, Ethics and Communication, Intermediate (IPC) Course, and 45 have been included in the Paper- 4, Corporate and Allied Laws, Final Course.
For Supplimentary Material of Law