Taxation - Corporate Law Reporter

Seeks to bring into effect certain provisions of notification No. 07/2015-ST dated 1st March, 2015

[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.16/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.___(E).In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), the Central… Read More

Seeks to prescribe interest rate under section 75 of the Finance Act, 1994

[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. 13/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.___ (E).- In exercise of the powers conferred by section 75 of the Finance Act, 1994 (32 of 1994) and in… Read More

Seeks to prescribe interest rate under section 73B of the Finance Act, 1994

[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. 14/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.___ (E).- In exercise of the powers conferred by section 73B of the Finance Act, 1994 (32 of 1994), the Central… Read More

Seeks to amend notification No. 32/2012-Service Tax dated 20th June, 2012, so as to exempt services provided by the bio-incubators approved by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India

[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. 12/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R.---(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994),… Read More

Seeks to bring into effect provisions of clause (h) of section 107 of the Finance Act, 2015

[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.15/2016-Service Tax New Delhi, the 1st March, 2016 G.S.R. ___ (E)- In exercise of the powers conferred by clause (h) of section 107of the Finance Act, 2015 (20 of 2015),… Read More

Budget 2016 – 2017

INTRODUCTION : As we expect more from Budget but once again we have to wait for another year where we can expect that more changes will be done as per our expectation and Tax Payer will be Happy. As simple, the budget neither gives any benefits nor provide any special provision to the Tax Payer.… Read More

Reducing black money through a Scheme to declare undisclosed income by paying 45% tax in a given compliance window

Reducing black money through a Scheme to declare undisclosed income by paying 45% tax in a given compliance window While presenting the General Budget 2016-17 in Lok Sabha here today, the Union Finance Minister Shri Arun Jaitley proposed a Scheme to declare undisclosed income by paying 45% tax in a given compliance window. Shri Jaitley… Read More

Partial Modification of Instruction No. 1914 dated 21.03.1996 to provide for guidelines for stay of demand at the first appeal stage

CBDT issues Instruction No. 1914 dated 21.03.1996 contains issued by the Board regarding procedure to be followed for recovery of outstanding for grant of stay of demand. To know the complete instruction, please click on the link below: Partial Modification of Instruction No. 1914 dated 21.03.1996 to provide for guidelines for stay of demand at… Read More

CBEC has notified and appoints 1st day of April, 2016 as the date on which the provisions of sub-section (1) of section 109 of Finance Act, 2015

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, the 18th February, 2016 Notification No. 06/2016-Service Tax G.S.R.___ (E). - In exercise of the powers conferred by section 109 of the Finance Act, 2015 (No. 20 of 2015), the Central Government hereby appoints the 1st day of April, 2016 as the date on which the… Read More

Clarification regarding nature of share Buy-back transactions under Income-tax Act, 1961

As per provisions of Section 46A of the Income-tax Act, 1961('Act'), applicable with effect from 01.04.2000, any consederation received by a shareholder or a holder of other specified securities from any company on purchase of its own shares/other specified securities. To View complete Notification, please click on the link below: Clarification regarding nature of share… Read More

Highlights of Taxation

CBDT has issued Clarification for implementation of FATCA and CRS. An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). Based on comments and… Read More

Notification No. 8/2016 [F.No.196/32/2014-ITA-I] / SO 530(E) in reference to section 10 of the Income-tax Act, 1961

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th February, 2016 S. O. 530(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purpose of the said clause, the Competition… Read More

Notification No. 7/2016 [F.No.173/394/2015-ITA-I] / SO 529(E) by sub-section (1) of section 80CCD of the Income-tax Act, 1961 (43 of 1961)

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 19th February, 2016 Income-tax S. O. 529(E).— In exercise of the powers conferred by sub-section (1) of section 80CCD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the ‘Atal Pension Yojana (APY)’ as published in… Read More