Taxation - Corporate Law Reporter

Exemption of TDS for entities exempted under Section 10 of IT Act

CIRCULAR No. 18/2017 F.No.385/01/2015-IT(B) Government of India Ministry of Finance Department of Revenue Central board of Direct Taxes North Block, New Delhi 29th May 2017 Subject: Requirement of tax deduction at source in case of entities whose income is exempted under Section 10 of the Income-Tax Act, 1961- Exemption thereof. The Central Board of Direct… Read More

CBDT issues Guiding Principles for determination of Place of Effective Management (POEM) of a Company

Ministry of Finance The concept of Place of Effective Management (POEM) for deciding the Residential Status of a company was introduced by the Finance Act, 2015. It is effective from 01.04.2016 and accordingly shall apply from assessment year 2017-18 onwards. The guidelines for determining the POEM has been uploaded on website of the Income-tax Department… Read More

Initiation of Sunset Review Investigation of Anti-dumping duty concerning imports of ‘Phosphoric Acid of all grades and all concentrations (excluding Agriculture/Fertilizer Grade)’ originating in or exported from Israel and Taiwan

Having regard to the Customs Tariff Act, 1975 as amended in 1995 and the Customs Tariff (Identification, Assessment and Collection of Anti- dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Designated Authority (hereinafter referred to as the Authority) recommended imposition of Anti Dumping Duty on imports of Phosphoric Acid of… Read More

Initiation of Sunset Review of Anti-dumping Duty imposed on imports of Cellophane Transparent Film, originating in or exported from China PR

Having regard to the Customs Tariff Act, 1975 as amended in 1995 and thereafter (hereinafter also referred as the Act) and the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, as amended from time to time (hereinafter also referred as the Rules), the Designated Authority (hereinafter… Read More

EPF allows 5 days Grace period for the employers for the month of December 2015

EPF allows 5 days Grace period for the employers for the month of December 2015 Click here to download Read More

RECTIFICATION U/S 154 OF INCOME TAX ACT

RECTIFICATION UNDER SECTION 154 OF INCOME TAX ACT Hello readers, we all understand rectification just as correction in any order passed by Income tax authority concerned so let's review every clause of section 154 in detail with relevant judgement and my significant findings to it. Now you can first read the extract of Act in… Read More

Income–tax (1st Amendment) Rules, 2017

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6th January, 2017 G.S.R. 14(E).—Inf exercise of the powers conferred by section 139A and section 285BA, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further… Read More

Revised GST Enrollment dates

GSTN releases revised schedule for enrollment of existing taxpayers under VAT, Service Tax and Central Excise laws under GST. revised enrollment schedule can be downloaded below: Latest GST Enrollment schedule Read More

Taxation Laws (Second Amendment ) Bill, 2016

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 1st December, 2016. PRESS RELEASE Sub: Taxation Laws (Second Amendment ) Bill, 2016- reg In the wake of Taxation Laws (Second Amendment) Bill, 2016 which has been passed by Lok Sabha and is under consideration withRajyaSabha, some rumours have… Read More

Accepting payment under IDS 2016

No.RB/CIR/IDS/1507 November 28, 2016 The Chief Executives of Member Banks Dear Sir/Madam, Accepting payment under IDS 2016 Kindly refer to the appended self-explanatory email from Reserve Bank of India and Central Board of Direct Taxes on accepting payment under IDS 2016. In this connection, we would like to invite your attention to the FAQ (https://www.rbi.org.in/Scripts/FAQView.aspx?Id=119… Read More

Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws (Second Amendment) Bill, 2016

Press Information Bureau Government of India Ministry of Finance 01-December-2016 15:58 IST Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws (Second Amendment) Bill, 2016, is totally unfounded and baseless. In the… Read More

Signing of Bilateral Advance Pricing Agreements (B- APAs)

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 18th November, 2016. PRESS RELEASE Sub : Signing of Bilateral Advance Pricing Agreements (B- APAs) The CBDT signed 3 bilateral APAs on 18th November, 2016 taking the total number of APAs signed [both- bilateral and unilateral] so far to… Read More

Using GST provisions to curb menace of “Without Bill Sales”

It is a common experience that while you go for shopping, you are asked whether you need a pucca bill for your purchase or you can adjust without getting bill for your purchase. Price to be paid is higher if purchase made with pucca bill; reason being told is that taxes will be added in… Read More