Daily Archives: March 3, 2016

CUSTOMS Amendments Proposed by Budget 2016

By | March 3, 2016

CUSTOMS Amendments Proposed by Budget 2016 Section 2(43) has been amended so as to include Special Warehouse licensed under Section 58A for enabling storage of specific goods under physical control of the department, as control over the other types of warehouses would be only record based. Section 25 is being amended so as to omit… Read More »

Amendment in Service Tax by Budget 2016

By | March 3, 2016

Amendment in Service Tax Amendments effective from 01.03.2016 Exemption withdrawn Exemption with respect to construction, erection, commissioning or installation of original works pertaining to monorail or metro in respect of contracts entered into on/after 01.03.2016, has been withdrawn. New Exemptions Following services have been exempted: Services by way of construction, erection, commissioning, etc. in respect… Read More »

Income-tax (Fourth Amendment) Rules 2016

By | March 3, 2016

INCOME-TAX (FOURTH AMENDMENT) RULES, 2016  AMENDMENT IN NEW APPENDIX I NOTIFICATION NO. SO 650(E) [NO.13/2016 (F.NO.142/33/2015-TPL)], DATED 3-3-2016 In exercise of the powers conferred by section 295 read with section 32 of the Income‐tax Act, 1961 (43 of 1961), the Central Board of Direct Taxeshereby makes the following rules further to amend the Income‐tax Rules,… Read More »