WCD Minister, Smt Maneka Sanjay Gandhi releases Draft ‘Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2016’ The Minister of Women & Child Development Smt Maneka Sanjay Gandhi released the draft “Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2016” in New Delhi on 30.5.2016 for further stakeholders consultations and comments. The Bill aims to… Read More »
THE GAZETTE OF INDIA EXTRAORDINARY [PART II—Section 1] MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 28th May, 2016/Jyaistha 7, 1938 (Saka) The following Act of Parliament received the assent of the President on the 28th May, 2016, and is hereby published for general information: THE INSOLVENCY AND BANKRUPTCY CODE, 2016 NO. 31… Read More »
ICAI ANNOUNCEMENT The CBDT vide Circular No. 20/2016 dated 26.05.2016 has clarified that in order to mitigate any inconvenience caused to the taxpayers on account of the new requirement of mandatory e-filing of appeals, it has been decided to extend the time limit for filing of such e-appeals. E-appeals which were due to be filed… Read More »
Fare Fixation Committee for Delhi Metro notified ; to submit report in 3 months Ministry of Urban Development has notified the Fare Fixation Committee (FFC) for recommending the passenger fares for Delhi Metro network in Delhi and its extension to National Capital Region. Set up under Sections 33 and 34 of the Metro Railway (Operations… Read More »
DISCLOSURE OF THE IMPACT OF AUDIT QUALIFICATIONS BY THE LISTED ENTITIES CIRCULAR NO. CFD/CMD/56/2016, DATED 27-5-2016 1. SEBI has put in place a mechanism to review the audit qualifications contained in the audit reports of the listed entities. The detailed procedure for the same has been prescribed in Schedule VIII read with Regulation 33 and… Read More »
NOTIFICATION NO.F.3 (671)/POLICY/VAT/2016/284-296, DATED 27-5-2016 Whereas, the Department of Trade and Taxes, Government of National Capital territory of Delhi vide Notification No. F.3(671)/Policy/VAT/2016/251-63 dated 19-5-2016, had notified an online Form Delhi Sugam-1 (DS1), in exercise of the powers conferred under section 70 of the Delhi Value Added Tax Act, 2004, for furnishing the details in… Read More »
PROCEDURE FOR RESPONSE TO ARREAR DEMAND BY TAXPAYER AND VERIFICATION AND CORRECTION OF DEMAND BY AOs CIRCULAR NO.8/2015 [F.NO.225/151/2014/ITA.II], DATED 14-5-2015 The CBDT vide instruction No.4 of 2014, dated 7th April, 2014, inter alia, prescribed Standard Operating Procedure for Verification and Correction of Demand available or uploaded by AOs in CPC Demand Portal. Further a… Read More »
Income Declaration Scheme 2016 ( Income Declaration Scheme 2016 : Chapter IX of the Finance Act 2016) Analysis of Income Declaration Scheme 2016 Income Declaration Scheme 2016 incorporated as Chapter IX of the Finance Act 2016 Income Declaration Scheme 2016 shall remain in force for a period of 4 months from 1st June, 2016 to 30th… Read More »
Stay of Demand Stay of demand by Income-tax (Appellate Tribunal) Stay of Demand : Procedure for filing and disposal of stay petition. Rule – 35A, Income-tax (Appellate Tribunal) Rules, 1963 35A. (1)(a) Every application for stay of recovery of demand of tax, interest, penalty, fine, estate duty or any other sum shall be presented in triplicate… Read More »
Stay of demand (Stay of demand as per Income tax Act 1961 ) Stay of demand : Revised guidelines of CBDT PRESS RELEASE, DATED 3-3-2016 With a view to streamline the process of grant of stay of demand when the case of the taxpayer is pending before Commissioner (Appeals) and to standardize the quantum of… Read More »