Daily Archives: March 3, 2016

Govt to exempt Capital gain and interest on Gold Monetization Scheme 2015

By | March 3, 2016

Finance Bill 2016 Tax Treatment of Gold Monetization Scheme, 2015 Under the existing provisions of section 10, interest on Gold Deposit Bonds issued under Gold Deposit Scheme, 1999 is exempt. Further, these bonds are excluded from the definition of capital asset and therefore exempt from tax on capital gains. The Gold Monetization Scheme, 2015 has… Read More »

RBI Master Directions 2016 on Interest Rate on Deposits

By | March 3, 2016

RBI/DBR/2015-16/19 Master Direction DBR. Dir. No.84/13.03.00/2015-16 March 03, 2016 Master Direction – Reserve Bank of India (Interest Rate on Deposits) Directions, 2016 In exercise of the powers conferred by conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient… Read More »

Category: RBI

RBI Master Direction 2016 on Interest Rate on Advances

By | March 3, 2016

RBI/DBR/2015-16/20 Master Direction DBR.Dir.No.85/13.03.00/2015-16 March 03, 2016 Master Direction – Reserve Bank of India (Interest Rate on Advances) Directions, 2016 In exercise of the powers conferred by conferred by Sections 21 and 35 A of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied that it is necessary and expedient in the… Read More »

Govt abolished Interview for Group C and D Services

By | March 3, 2016

Abolition of Interview for Group C and D Services The Central Government has decided to dispense with the interview for all Group C (including Group D) and non-gazetted Group B category in Central Government by 31.12.2015. Accordingly, instructions have been issued to the Staff Selection Commission mandated with the recruitment of mainly Group B (Non-Gazetted)… Read More »

Exchange Rate of Foreign Currency relating To Imported and Export Goods notified

By | March 3, 2016

Exchange Rate of Foreign Currency relating To Imported and Export Goods notified In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.29/2016-CUSTOMS (N.T.), dated 18th February, 2016, except as respects things done or… Read More »

CBDT clarifies provisions of the Income tax for reducing litigation and easing burden of compliance

By | March 3, 2016

CBDT clarifies various provisions of the Income-tax Act for reducing litigation and easing burden of compliance   The Central Board of Direct Taxes (CBDT) has taken a number of decisions to clarify the applicability of various provisions of the Income-tax Act with the objective of easing the burden of compliance and reducing litigation. It has… Read More »

CBDT issues Revised Guidelines for stay of demand at CIT (Appeals)

By | March 3, 2016

CBDT issues Revised Guidelines for stay of demand at the First Appeal Stage; Decision of the Board to provide significant relief to the taxpayers in matters relating to grant of stay and recovery of demand by reducing arbitrariness in the disposal of stay petitions where the tax demand is contested at the First Appellate stage.… Read More »