Press Information Bureau Government of India Ministry of Finance 12-March-2016 12:48 IST Non-enforcement of recovery of demand against the assessee where tax has been deducted but not deposited by the deductor The Central Board of Direct Taxes (CBDT) had issued directions to the field offices that taxpayers whose tax has been deducted at source but… Read More
Press Information Bureau Government of India Ministry of Finance 11-March-2016 17:43 IST Rationalization of Interest Rates of Small Savings Scheme The Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 has been formulated and notified on 19th May, 2015. PFRDA regulations have not specifically stipulated any fixed investment management fee. However, Regulation 20 of… Read More
Amendments Proposed by The Finance Bill, 2016 1. Message from the President 2. Message from the Vice-President 3. Chairmen Speak (from Committee on Public Finance & Government Accounting; Direct Tax Committee; Indirect Taxes Committee; Committee on International Taxation) 4. State of the Economy: Union Budget 2016-17 Highlights 5. Amendments Proposed by Finance Bill, 2016 in… Read More
[In the matter of M/s. Tafe Motors & Tractors Ltd v. Commissioner of Excise, Jaipur] Date of Hearing/Decision: 02.03.2016 BRIEF FACTS The Appellant is engaged in the manufacture of automotive IC Engine and was working under the provisional assessment for the period 01.04.2006 to 31.03.2007 which was finalised only on 16.11.2007. On finalisation of the… Read More
Citation [M/s Schwing Stetter (India) Private Limited v. Commissioner of Customs (Imports) Chennai in Appeal No. C/40309/2015] FINAL ORDER No.40280/2016 pronounced in open Court on February 17, 2016 BRIEF FACTS The Appellant imported machinery i.e. Schwing mobile concrete pump placers from their related supplier. Though both the foreign supplier and the Appellant are related, as… Read More
The new Companies Act (hereinafter referred as COMPANIES ACT 2013) is replacing old Companies Act, 1956 (hereinafter referred as CA1956). The CA 2013 makes comprehensive provisions to govern all listed and unlisted companies in the country. The CA 2013 is partially made effective w.e.f. 12th September, 2013, by way of implementing 98 Sections and repealing… Read More
Press Information Bureau Government of India Ministry of Finance 11-March-2016 17:49 IST Online Application for Withdrawal under New Pension Scheme The Pension Fund Regulatory and Development Authority (PFRDA) had issued a Circular dated February 25, 2015, making it mandatory for all the Nodal Offices to process the withdrawal claims of their underlying subscribers on the… Read More
DCS/COMP/33/2015-16 March 11, 2016 Dear Sir/Madam, Sub: MANDATORY FILING OF COMPLIANCES / INFORMATION IN ELECTRONIC MODE This Circular is in continuation to our earlier Circular No. DCS/COMP/20/2015-16 dated November 30, 2015 that was issued pursuant to Regulation 10 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)… Read More
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 11 th March, 2016 Subject: - Non-enforcement of recovery of demand against the assessee where tax has been deducted but not deposited by the deductor - regarding The Central Board of Direct Taxes had issued directions to… Read More
COST OF ADVERTISING CANNOT BE ADDED TO THE ASSESSABLE VALUE UNLESS IT IS RECOVERED FROM THE DEALERS MANDATORILY AS A CONDITION OF DEALERSHIP - CESTAT, Mumbai A. Brief Facts of the Case: 1.1 The appellants are manufacturer of excisable goods and were selling the products to various distributors and dealers. The appellants had… 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 Central Board of Excise and Customs New Delhi, the 8 th March, 2016 18 Phalguna, 1937Saka Notification No. 20/2016-Service Tax G.S.R..... (E). - In exercise of the powers conferred by sub-sections… Read More
The Minutes of the Meeting of Committee for Technical and Financial Evaluation for selection of IT Application Development services Agency for startup India The Committee for technical and financial evaluation for selection of Digital Amplification and social Analytics Agency met on 26th and 29th February,2016in Udyog Bhawan. The Committee took note of the Scope of… Read More
Power to remove directors has always been bestowed on shareholders, as we all know that at the end of the day, directors are answerable to shareholders. Nothing has changed in the procedural aspect under Companies Act, 2013 as well. Shareholders can remove any director before the expiry of his tenure, except any director appointed by… Read More