Daily Archives: May 20, 2016

Dividend Distribution Policy for top 500 listed companies:SEBI

By | May 20, 2016

Dividend distribution policy for listed companies SEBI Board approved the proposal for the top 500 listed companies (by way of market capitalization) to formulate and disclose their dividend distribution policies in the annual reports and on their websites. Such policy may include: a) The circumstances under which their shareholders can or cannot expect dividend; b)… Read More »

Quoting PAN Mandatory for Transaction: Rule 114B of Income tax

By | May 20, 2016

Quoting PAN is mandatory in India for the transactions mentioned in Rule 114B of Income tax rules Rule-114B Income-tax Rules (Rule 114B substituted by the Income-tax (Twenty Second Amendment) Rules, 2015, w.e.f. 1-1-2016.) [Transactions in relation to which permanent account number is to be quoted in all documents for the purpose of clause (c) of… Read More »

loose sheets are documents u/s 132(4), Addition can be made

By | May 20, 2016

Held it is clear that loose sheets recovered from the premises of the assessee constitute documents within the meaning of the Explanation under sub-section (4) of section 132. Sub-section (4) of Section 132 speaks about the admissibility of evidence of those documents. Sub-section (4) together with the Explanation thereunder to section 132 reads as follows:—… Read More »

Acquisition of agricultural land in District not to exceed 5%

By | May 20, 2016

  THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 12th May, 2016 S.O. 1758(E).—In exercise of the powers conferred by sub-section (4) of section 10 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (No. 30 of 2013), the… Read More »

Multi-crop irrigated land acquisition not to exceed 1%

By | May 20, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 12th May, 2016 S.O. 1757(E).—In exercise of the powers conferred by sub-section (2) of section 10 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013 (No. 30 of 2013), the Central… Read More »

ANTI-HIJACKING ACT 2016 : Indian Govt Notified

By | May 20, 2016

THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SECTION 1] MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 16th May, 2016/Vaisakha 26, 1938 (Saka) The following Act of Parliament received the assent of the President on the 13th May, 2016, and is hereby published for general information:— THE ANTI-HIJACKING ACT, 2016 NO. 30 OF 2016… Read More »

Presumptive Taxation of Business u/s 44AD

By | May 20, 2016

Presumptive Taxation of Business u/s 44AD After Finance Act 2016 What is Presumptive Taxation of Business u/s 44AD The existing provisions of section 44AD provide for a presumptive taxation scheme for an eligible business. Where in case of an eligible assessee engaged in eligible business having total turnover or gross receipts not exceeding Rs 1 crore (increased to Rs… Read More »