Daily Archives: June 24, 2016

Tax benefit of Leave Encasement is available in case of resignation also

By | June 24, 2016

Section 10(10AA) provides the exemption in case of Leave Encasement Whole  of payment received by an employee of the Central Government or a State Government upto Rs 3 Lakh received by an employee, other than an employee of the Central Government or a State Government In this case Hon’ble High Court held that  whether Leave Encasement… Read More »

No Service tax on transportation of goods by vessel from outside India if Invoice issued before 01.06.2016

By | June 24, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 36/2016-Service Tax New Delhi, the 23rd June, 2016 G.S.R. —(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of… Read More »

Core Settlement Guarantee Fund set up by ICCL notified u/s 10(23EE)

By | June 24, 2016

MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) (Income-tax) NOTIFICATION New Delhi, the 23rd June, 2016 S.O. 2183(E).—In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notify the Core Settlement Guarantee Fund, set up by Indian Clearing… Read More »

Core Settlement Guarantee Fund set up by NSCCL notified u/s 10(23EE)

By | June 24, 2016

MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) (Income-tax) NOTIFICATION New Delhi, the 23rd June, 2016 S.O. 2184(E).—In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Core Settlement Guarantee Fund set up by National Securities… Read More »

Cost of Material with wages can not exceed 40% under MNREGA

By | June 24, 2016

MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 22nd June, 2016 S.O. 2182(E).—In exercise of the powers conferred by sub-section (1) of section 29 of the Mahatma Gandhi National Rural Employment Guarantee Act, 2005 (42 of 2005) (hereinafter referred to as the said Act), the Central Government, being satisfied that it is necessary and expedient… Read More »

TDS Provisions under Model GST Law : Analysis

By | June 24, 2016

TDS Provisions under Model GST Law Deductor meaning for TDS Provisions under Model GST Law Following are liable to deduct TDS under Sub Section 1 of Section 37 1. a department or establishment of the Central or State Government, or 2. Local authority, or 3. Governmental agencies, or 4. Such persons or category of persons as… Read More »