Notice 2016-60 provides guidance regarding an extension of the replacement period under § 1033(e) of the Internal Revenue Code for livestock sold on account of drought in specified counties. Notice 2016-60 will be in Internal Revenue Bulletin 2016-42 dated October 17, 2016.
IRS reminds taxpayers who requested an extension on the deadline of October 17 Every year millions of taxpayers requested an additional six months to file your tax return. If you are one of them, then youshould know that the Monday, October 17, 2016 is the deadline. This is because the October 15 falls on a… Read More »
Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; 37 States and Puerto Rico Affected WASHINGTON — Farmers and ranchers who previously were forced to sell livestock due to drought, like the drought currently affecting much of the nation, have an extended period of time in which to replace the livestock and defer tax… Read More »
FM: Government is working on a target date of 1st April, 2017 for the roll out of the Goods and Service Tax (GST) in the country. The Union Finance Minister Shri Arun Jaitley said that the Government is working on a target date of 1st April, 2017 for the roll out of the Goods and… Read More »
Change in Tariff value of crude Palm Oil, RBD Palm Oil, others – Palm Oil, crude Palmolein, RBD Palmolein, others – Palmolein, Crude Soyabean Oil, Brass Scrap (all Grades), Poppy Seeds, Areca Nuts, Gold and Silver notified In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52… Read More »
CBDT notifies 7 districts of Andhra Pradesh for availing tax incentives under the Income-tax Act. Under the Andhra Pradesh Re-organisation Act, 2014 the Government of India is extending special assistance to four districts of Rayalseema and three districts of North coastal Region of Andhra Pradesh. To further boost the industrial activities, the CBDT has notified these… Read More »