ICAI President’s Message – October 2015
Dear Friends, Every year we celebrate 2nd October as the birthday of our own Mahatma Gandhi, who is also called the Father of our Nation, as a mark of respect for his selfless contribution to our nation. Mahatma, who sacrificed his everything for the freedom of our nation, has said so many things apart from… Read More
Data pursuant to the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
638 number of declarations have been received under the compliance window declaring undisclosed foreign assets amounting to Rs 3770 crore under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (the Act). These figures are subject to final reconciliation. The officer designated to receive the declarations worked till midnight on… Read More
Due date of IT Returns deferred to 31st Oct, 2015 for Punjab, Haryana & UT of Chandigarh
F.No. 225/207/2015/ITA.li Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi dated the 30th of September, 2015 Order under Section 119 of the Income-tax Act 1961 The Central Board of Direct Taxes, in compliance to the order of Hon'ble Punjab and Haryana High Court dated… Read More
New Form AOC-4 (XBRL) is available for filing w.e.f 1st Oct 2015
The Ministry of Corporate Affairs has modified New Form AOC-4 (XBRL) which is available for filing w.e.f 1st Oct 2015. The form is available for download at the MCA 21 portal under the tab 'Forms & Downloads'. Hence, the stakeholders are requested to plan their filings accordingly. Form - AOC-4 XBRL Read More
CBDT Simplifies procedure for Form No.15G & 15H
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 30th September, 2015 Subject: Simplification of procedure for Form No.15G & 15H regarding Tax payers seeking non deduction of tax from certain incomes are required… Read More
Extension of due date for filing returns of income and tax audit reports
On consideration of the requests received from members at large seeking extension of due date of filing return of income as well as the tax audit report under section 139 of the Income-tax Act, 1961 falling due on 30th September, 2015, the following representations have been made by the Direct Taxes Committee of ICAI: ICAI/DTC/2015-16/Rep… Read More
Version of Forms MGT-7 and AOC-4(non XBRL) is modified w.e.f 30th Sep 2015
The Ministry of Corporate Affairs has modified Version of Forms MGT-7 and AOC-4(non XBRL) w.e.f form 30th Sep 2015. Hence, the stakeholders are requested to plan their filings accordingly. Read More
‹Income-tax (14th Amendment) Rules, 2015
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) (INCOME-TAX) New Delhi, the 29th September, 2015 NOTIFICATION S.O. 2663 (E).” In exercise of the powers conferred by section 295 read with section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the… Read More
External Commercial Borrowings (ECB) Policy – Issuance of Rupee denominated bonds overseas
RBI/2015-16/193 A.P. (DIR Series) Circular No.17 September 29, 2015 To, All Authorised Dealer Category I Banks Madam/ Sir External Commercial Borrowings (ECB) Policy - Issuance of Rupee denominated bonds overseas Attention of Authorized Dealer Category - I (AD Category - I) banks is invited to the provisions contained in A.P. (DIR Series) Circular No. 5 dated… Read More
Rate of exchange of conversion of the foreign currency with effect from 30th September, 2015
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF EXCISE AND CUSTOMS) Notification No.95/2015 - Customs (N.T.) Dated the 29th September, 2015 In exercise of the powers conferred by Section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise & Customs hereby makes the following amendments in the Notification… Read More
CBEC amends Exchange Rates of Foreign Currency
CLR Note: The Central Board of Excise and Customs has issued a notification dated 29th September, 2015 to make amendments to the notification no. 93/2015 dated 17th September, 2015 with respect to the exchange rates of the foreign currency which shall be effective from 30th September, 2015 and the rates are prescribed in Schedule I… Read More
FMC finally merges with SEBI
CLR Note: Finally, SEBI merges with FMC and there are certain important facts which are listed below explaining the facts of the merger and the history behind the merger of the two regulatory bodies. The amalgamation of Forward Markets Commission (FMC), the erstwhile commodities regulatory body, with capital markets watchdog Securities and Exchange Board of… Read More
Companies (Management and Administration) Second Amendment Rules, 2015
Government of India Ministry of Corporate Affairs Notification New Delhi, 24th September, 2015 G.S.R. (E).-In exercise of the powers conferred by sections 88, 89,91,92, 93,94, 101, 105, 108, 109, 110, 115, 117, 118, 119, 120 and 121 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central… Read More
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