Legal Updates - Corporate Law Reporter

Clearance of parking area of the premises of Regional Director, North, MCA at 01:30 on 09.03.2016

Dear Professional Colleagues, Sub: Clearance of parking area of the premises of Regional Director, North, MCA at 01:30 on 09.03.2016. We have received a communication from Regional Director (North), MCA advising all the ICSI members to leave the premises of the office of RD, North i.e. Sh. A. K. Chaturvedi, B-2 Wing, 2nd Floor, Paryavaran… Read More

Issue of clarification on contentious TDS issues

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 8th March, 2016 Subject: Issue of clarification on contentious TDS issues-regarding-. With a view to bring about clarity in the interpretation of certain contentious issues relating to tax deduction at source (TDS) on payments made by television… Read More

CBEC to Issue Appropriate Guideline to the Quasi Judicial Authorities in Administrative Justice System – CESTAT

CBEC TO ISSUE APPROPRIATE GUIDELINE TO THE QUASI JUDICIAL AUTHORITIES IN ADMINISTRATIVE JUSTICE SYSTEM TO DISCHARGE THEIR DUTIES PUBLICLY IN ACCORDANCE WITH LAW: CESTAT - CHENNAI A. Brief Facts of the Case: A.1 Revenue has come in appeal before the Hon'ble Tribunal against the order passed by Learned Commissioner (Appeals) ("First Appellant… Read More

Applications Invited For Recognition Of Inspecting Authority, Competent Authority, Well-Known Material Testing Laboratory, Well-Known Steel Maker, Well-Known Foundry/Forge, Well-Known Tube/Pipe Maker And Well-Known Remanent Life Assessment Organisation Under The Indian Boiler Regulation, 1950 (IBR)

APPLICATIONS INVITED FOR RECOGNITION OF INSPECTING AUTHORITY, COMPETENT AUTHORITY, WELL-KNOWN MATERIAL TESTING LABORATORY, WELL-KNOWN STEEL MAKER, WELL-KNOWN FOUNDRY/FORGE, WELL-KNOWN TUBE/PIPE MAKER AND WELL-KNOWN REMANENT LIFE ASSESSMENT ORGANISATION UNDER THE INDIAN BOILER REGULATION, 1950 (IBR) 1. With a view to promote third party inspection/ self-certification for ease of doing business, applications are invited from the eligible… Read More

Disclosures under Reg. 29(1) & 29(2) of SEBI (SAST) Regulations, 2011

The Securities and Exchange Board of India has issued Disclosures under Reg. 29(1) & 29(2) of SEBI (SAST) Regulations, 2011. To Download the complete Regulations, please click on the link below: Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 Read More

Clarification regarding taxability of consortium members

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, 7th March, 2016 Subject:Clarification regarding taxability of consortium members- reg. A Consortium of contractors is often formed to implement large infrastructure projects, particularly in Engineering. Procurement and Construction ('EPC') contracts and Turnkey Projects. To know the complete… Read More

Version of LLP Form 4-4A & Form 11 are going to be changed w.e.f March 8th, 2016

Kindly note Version of LLP Form 4-4A & Form 11 are going to be changed with effective from March 8th, 2016. All the Stakeholders are requested to plan accordingly Read More

Setting up of a dedicated structure for delivery and monitoring of tax payer services in the Income Tax Department

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

Prior permission not needed for transfer of CENVAT as a result of Merger/Amalgamation: CESTAT – Delhi

NO SPECIFIC STIPULATION CONTAINED IN RULE 10 OF THE CENVAT CREDIT RULES, 2004 REGARDING PRIOR PERMISSION FROM THE STATUTORY AUTHORITIES FOR TRANSFERRING THE CENVAT CREDIT AS A RESULT OF AMALGAMATION/MERGER: CESTAT A. Brief Facts of the Case: A.1 In this case, the Appellant (viz. "M/s. S.C. Johnson Products Pvt. Ltd." formerly known as… Read More

Minority Affair’s Budget Increased by Over 87 Crores for 2016-17

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

Direct Tax Proposal of Budget 2016

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

Income-tax (3rd Amendment) Rules, 2016

[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

Decision’s of CBDT clarifying various provisions of the Income-tax Act for reducing litigation and easing burden of compliance

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