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Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 7th March, 2016 Sub: Setting up of a dedicated structure for delivery and monitoring of tax payer services in the Income Tax Department- regarding. Grievance redressal is a major aspect of citizen centric governance and is an… Read More
Minority Affair’s Budget Increased by Over 87 Crores for 2016-17 Educational and Economic Empowerment Through Skill Development:Dr.Najma Heptulla For 2016-17, the Ministry of Minority Affairs has prioritized its focus areas in tune with the National priority for educational and economic empowerment through Skill Development.Dr. Najma Heptulla, the Union Minister for Minority Affairs said that almost… Read More
1. People with income less than Rs 5 lakh to get deduction of Rs 5,000, up from Rs 2,000 last year. HRA deduction up from Rs. 24,000 to Rs. 60,000 p.a. 2. New manufacturing companies incorporated on or after 1.3.2016 to be given an option to be taxed at 25% + surcharge and cess provided they do… Read More
[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] Income-tax NOTIFICATION New Delhi, the 1st March, 2016 S.O. 637 (E).─ In exercise of the powers conferred by sub-section (1) of section 249, read with section… Read More
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 3rd March, 2016 Sub: Decision’s of CBDT clarifying various provisions of the Income-tax Act for reducing litigation and easing burden of compliance – regarding. The Central Board of Direct Taxes has taken a number of decisions to… Read More
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 3rd March, 2016 Subject: Issue of revised guidelines for stay of demand at the first appeal stage - regarding With a view to streamline the process of grant of stay of demand when the case of the… Read More
Shri Jayant Sinha, MoS (Finance): Present Government is pursuing a pro-poor economic policy, in which the importance of well-functioning markets cannot be over-emphasised; Competition Commission of India (CCI) organizes first national conference on Economics of competition law Shri Jayant Sinha, Minister of State for Finance said that the present Government is pursuing a pro-poor economic… Read More
Civil Aviation Minister says Budget 2016-17 has paved the way for developing India the MRO hub of Asia. The Minister of Civil Aviation Shri P Ashok Gajapathi Raju has said that the Budget 2016-17 has paved the way for developing India as a Maintenance, Repair and Overhauling (MRO) hub of Asia. Speaking to media persons … Read More
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.29/2016-CUSTOMS (N.T.), dated 18th February, 2016, except as respects things done or omitted to be done before such supersession, the Central Board of Excise… Read More
RBI/2015-16/331 DBR.No.BP.BC.83/21.06.201/2015-16 March 1, 2016 All Scheduled Commercial Banks (Excluding Local Area Banks and Regional Rural Banks) Madam / Sir, Master Circular – Basel III Capital Regulations - Revision Please refer to Master Circular DBR.No.BP.BC.1/21.06.201/2015-16 dated July 1, 2015 on ‘Basel III Capital Regulations’. The treatment of certain balance sheet items, as per the extant… Read More
[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 20/2016-Customs New Delhi, the 1st March, 2016 G.S.R. (E).- In exercise of the powers conferred by section 157 of the Customs Act, 1962 (52 of 1962), the Central… Read More
[TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 21/2016-Customs New Delhi, the 1st March, 2016 G.S.R. (E).- In exercise of the powers conferred by sub-item (6) of heading No. 98.01 of the First Schedule to the… Read More
[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. 22/2016-Customs New Delhi, the 1st March, 2016 G.S.R. (E). In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962(52 of 1962), the… Read More
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