COMPANIES (SHARE CAPITAL AND DEBENTURES) RULES, 2014 NOTIFICATION NO. GSR 265(E) [F.NO. 01/04/2013 (PART-I)CL-V], DATED 31-3-2014 In exercise of the powers conferred under clause (a) (ii) of section 43, sub-clause (d) of subsection (1) of section 54, sub-section (2) of 55, sub-section (1) of section 56, sub-section (3) of section 56, sub-section (1) of section… Read More »
[To be published in the Gazette of India, Extraordinary, Part IL Section 3, Sub-Section (i)1 Government of India MINISTRY OF CORPORATE AFFAIRS Notification New Delhi, 19th July, 2016. G.S.R. 704(E). — In exercise of the powers conferred by sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central… Read More »
The Institute of Chartered Accountants of India [Set up by an Act of Parliament] Post Box No.7112, ‘ICAI BHAWAN’, Indraprastha Marg New Delhi – 110002 TO BE PUBLISHED IN PART III SECTION 4 OF THE GAZETTE OF INDIA NOTIFICATION Dated: 19 July, 2016 No. 13-CA (EXAM)/N/2016: In pursuance of Regulation 22 of the Chartered Accountants… Read More »
Income Declaration Scheme, 2016 (IDS) As per Finance Act, 2016, The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid taxes in full for previous years to declare their undisclosed income for such previous years and pay taxes thereon. The said tax payment has to be made to the Government Account… Read More »
FAQs on Income-tax Returns for Assessment Year 2016-17 ( Financial Year 2015-16) Q 1. What are the modes of filing return of income? Return of income can be filed in paper mode or in e-filing mode. If return of income is filed through electronic mode, then the assessee has following three options: (1) E-filing… Read More »
Reservation in promotion for differently-abled people Section 33 of the Persons with Disabilities (Equal Opportunities, Protection of Rights and full Participation) Act, 1995 (PWD Act, 1995) mandates every appropriate Government to appoint in every establishment such percentage of vacancies not less than 3% of persons with disability of which 1% each shall be reserved for… Read More »
Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.96/2016-CUSTOMS (N.T.), dated 06th July, 2016, except as respects things done or… Read More »
Income Tax Department to issue 7 lakh letters seeking Information in respect of High Value Non PAN Transactions Under the Annual Information Returns (AIR), various types of high-value transactions were being reported to the Income Tax Department. These include reporting of cash deposits of Rs.10,00,000 or more in a saving bank account, sale/purchase of immovable… Read More »
SIT directs Enforcement Directorate to take necessary action under FEMA with respect to 216 Companies with respect to the period before 1st March, 2016 and 572 Companies for the period after 1st March, 2016 for which each such Company had export proceeds pending for realisation for more than Rs. 100 crore; SIT also directed Directorate… Read More »
Equalization levy Challan ITNS 285 As per Finance Bill of 2016, Equalization levy is applicable for certain specified services related to digital domain wherein the amount of consideration exceeds a specified value (threshold prescribed by Income Tax Department). Rules to The Finance Act, 2016 states that with effect from July 1, 2016, equalization levy @… Read More »