Monthly Archives: June 2016

Non Resident not having PAN ,Relaxation from Higher TDS by Govt

By | June 28, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24 th June, 2016 INCOME-TAX S.O. 2196 (E).— In exercise of the powers conferred by clause (ii) of sub-section (7) of section 206AA,… Read More »

Income Declaration Scheme 2016 Clarification by CBDT via FAQ

By | June 28, 2016

Circular No. 24 of 2016 F.No.142/8/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated 27th of June, 2016 Clarifications on the Income Declaration Scheme, 2016 The Income Declaration Scheme, 2016 (hereinafter referred to as ‘the Scheme’) incorporated as Chapter IX of the Finance Act, 2016 provides… Read More »

Factors that constitute failure to achieve the inflation target notified by govt

By | June 28, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 27th June, 2016 S.O. 2215(E).—In exercise of the powers conferred by section 45ZN of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby notifies the following as factors that constitute… Read More »

TDS Deposited in time but return not filed , Penalty has to be paid

By | June 26, 2016

Held Though it is sought to be contended by learned counsel for the appellant that non-filing of the e-TDS statements had not resulted in loss to the revenue but the requirement of filing e-TDS statements in time cannot be overlooked. The Department cannot accurately process the returns on whose behalf tax has been deducted until… Read More »

Monitoring of Income Declaration Scheme 2016 Awareness Programmes

By | June 25, 2016

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 24th June, 2016 To, The Principal CCsIT (All Stations) Sir / Madam, Sub: Monitoring of Income Declaration Scheme, 2016 Awareness Programmes The , 2016 incorporated as Chapter IX of the Finance Act 2016 has commenced from 1st June, 2016… Read More »

Simplified UAN based Pension Claim Form Number 10-D implementation

By | June 25, 2016

Tele fax: 26175212 EPFO -WebSite EMPLOYEES’ PROVIDENT FUND ORGANISATION Ministry of Labour & Employment, Government of India Head Office Bhavishya Nidhi Bhawan, 14, Bhikaj Cama Place, New Delhi -11006 No. Pension I/7(1)96/Forms/7429 dated 24/06/2016 All ACCs (Zonal Office) All Regional P. F. Commissioner (In – Charge of Regions) All Office – In – Charge of… Read More »

TCS on Cash Sale , CBDT issued 2nd Circular for Clarification

By | June 25, 2016

CBDT Circular No. 23/2016 F.No.370142/17/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) New Delhi, Dated 24 June 2016 Subject : Amendment in section 206C of the Income Tax Act vide Finance Act  2016 -Clarification regarding In order to curb the cash economy, Finance Act 2016 has… Read More »