[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
[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
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
1. 1 per cent service charge on purchase of luxury cars over Rs. 10 lakh and in-cash purchase of goods and services over Rs. 2 lakh. 2. Income tax surcharge for having income Rs. more than 1 crore increased to 15% (previously 12%) 3. Deduction u/s 80GG for RENT payment increased upto Rs. 5,000/- per… Read More
A Bill shall be introduced in the current Budget session of the Parliament in order to amend the Companies Act 2013. While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that this will remove the difficulties and impediments to ease of doing business. The Bill would… Read More
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
Incentives for pulses production will help farmers and consumers both- Shri Ram Vilas Paswan Minister of Consumer Affairs, Food and Public Distribution, Shri Ram Vilas Paswan has said that significant increase in budget allocation for price stabilization fund, from Rs. 500 crore to Rs. 900 crore, is a determined step to contain the prices of… Read More
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
Simplification and Rationalization of Taxation While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that the Government has already accepted many recommendations of Tax Administration Reform Committee. He further proposed to accept a number of recommendations of Justice Easwar Committee in Budget 2016-17. In order to… Read More
Reforms in FDI Policy in the Areas of Insurance and Pensions, Asset Reconstruction Companies, Stock Exchanges 100% FDI to be Allowed Through FIPB Route in Marketing Food Products Produced and Manufactured in India While presenting the General Budget 2016-17 in Lok Sabha today, the Union Finance Minister Shri Arun Jaitley said that to promote private… Read More
‘Budget is Developmental and Transformational ’: Javadekar Environment Minister’s Reaction to Union Budget 2016-17 Minister of State (Independent Charge) of Environment, Forest and Climate Change, Shri Prakash Javadekar, has said that Union Budget 2016-17 is a developmental and transformational Budget. Making his comments soon after the Budget was presented in Parliament here today, Shri Javadekar… Read More
Highlights of the Union Budget Speech of Hon'ble Finance Minister, Sh. Arun Jaitley on 29th Feb, 2016: -- Health Insurance Scheme being announced to benefit atleast 1/3rd of Indian Population -- Significant changes expected in the FDI policy -- Following are the 9 pillars of this Budget: a. Agriculture and farmers welfare b. Rural employment and… Read More
GOVERNMENT OF INDIA Ministry of Corporate Affairs NOTICE INVITING COMMENTS ON THE DRAFT RULES W.R.T. NCLT RELATED PROVISIONS UNDER THE COMPANIES ACT, 2013 Dated the 28th January, 2016 283 Sections of the Companies Act, 2013 have already been commenced. Remaining sections related to functioning of NCLT/NCLAT and certain other authorities are yet to be notified.… Read More