Daily Archives: September 4, 2015

Clarifications on Tax Compliance for black money

By | September 4, 2015

Circular No. 15 of 2015 F. No. 142/18/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated 3rd September, 2015 Clarifications on Tax Compliance for Undisclosed Foreign Income and Assets The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (hereinafter referred to… Read More »

Govt increased Interest rate on Senior Citizen Savings Scheme

By | September 4, 2015

Govt. hikes interest rate to 9.3% for deposits under Senior Citizen Saving Scheme w.e.f April 1, 2015 MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 27th July, 2015 G.S.R. 592(E).—In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby… Read More »

Registration can not be cancelled by first proviso to section 2(15)

By | September 4, 2015

First proviso to section 2(15) has no role to play in cancellation or granting of trust’s registration Q : Can the Commissioner cancel the registration granted to assessee  on the basis of introduction of first proviso of section 2(15) holding that activities of assessee were commercial in nature. ? First proviso to section 2(15) have no… Read More »