Corporate Law Reporter - The Daily Journal

Amendment in Principal Notification No. 12/97-Customs(N.T.) dated 02.04.1997

Government of India Ministry of Finance Department of Revenue (Central Board of Excise and Customs) Notification No. 85/2015-Customs (N.T.) New Delhi, the 4th September, 2015 In exercise of the powers conferred by clause (aa) of sub- section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and… Read More

E- wallet and virtual card accounts to be disclosed under the new black money law

The Central Board of Direct Taxes has issued clarifications under the new black money law to disclose the e-wallet and virtual card accounts. The department has provided a one time compliance window under the new black money law passed by the parliament for those who have unaccounted foreign assets are required to come clean upto… Read More

New Patent guidelines to improve filings for IT sector companies

The Controller General of Patents, Designs and Trade Marks has issued new guidelines for issuance of computer-related inventions, which could make it easier for IT companies in the country to register a patent. The guidelines, issued on August 21, allow companies to show innovation in just software, rather than in both software and hardware as… Read More

CBDT releases second set of FAQs on compliance window under ‘Black Money Act’ – Circular No. 15 dated 03.09.2015

The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (hereinafter referred to as 'the Act') has introduced a tax compliance provision under Chapter VI of the Act. The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Rules, 2015 (hereinafter referred to as 'the Rules') have been notified.… Read More

Procedure for registration and submission of report as per clause (k) of sub section(1) of section 285BA of Income-tax Act,1961 read with Sub rule (7) of Rule 114G of Income-tax Rules, 1962

The Principal DGIT(Systems) has issued Notification No 4/2015 dated 04/09/2015 regarding Form No 61B related to Statement of Reportable Accounts u/s 285BA(1) of the Income-tax Act, 1961.The procedures prescribed in Notification 3 dated 25th August, 2015 stands withdrawn forthwith. The registration and submission of Nil statement already completed under the procedures prescribed in Notification 3… Read More

Version of certain forms under Companies Act, 2013 changed by MCA

The Ministry of Corporate Affairs has modified version of certain forms w.e.f form 3rd September, 2015 as listed below. Hence, the stakeholders are requested to plan their filings accordingly. The forms notified w.e.f. 3rd September, 2015 are as follows: 1. Form 4 LLP 2. Form 31 LLP 3. Form 29 LLP 4. Form 8 LLP… Read More

Clarification on Tax Compliance for Undisclosed Foreign Income and Assets

The Central Board of Direct Taxes has issued a notification dated 3rd September, 2015 to provide clarification on tax compliance for undisclosed income on foreign income and assets. The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 has introduced a tax compliance provisions under Chapter VI of the Act. The Black… Read More

Sebi notifies Revised Listing Obligations and Disclosure Requirements under Regulations, 2015

PR No. 226/2015 SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) SEBI has notified SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations) on September 2, 2015, after following the consultation process. A time period of ninety days has been given for implementing the Regulations. However, two provisions of the regulations,… Read More

Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR

RBI/2015-16/169 A.P. (DIR Series) Circular No.10 September 03, 2015 To All Category - I Authorised Dealer Banks Madam / Sir, Deferred Payment Protocols dated April 30, 1981 and December 23, 1985 between Government of India and erstwhile USSR Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 105 dated… Read More

The Central Board of Direct Taxes extends Last Date for filing of ITR (PAN INDIA) from 31.08.2015 to 07.09.15

F.No.225/154/2015/ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITA.II Division New Delhi, the 2nd of September, 2015 Order under Section 119 of the Income-tax Act. 1961 For Assessment Year 2015-2016, vide even number order dated 10th June, 2015, the Central Board of Direct Taxes ('CBDT') had extended… Read More

Government shifts Regulation of Commodity Derivaties Market to SEBI with effect from 28th September,2015.

02-September-2015 Government issues notification to Repeal the FCRA, 1952 and shift the Regulation of the Commodity Derivaties Market to SEBI with effect from 28th September,2015. In exercise of powers conferred by Sections 131 and 133 of the Finance Act, 2015 (20 of 2015), the Central government hereby appoints the 28th Day of September, 2015 as… Read More

RBI issues draft norms for marginal cost computation

September 1, 2015 RBI seeks comments/feedback on Draft Guidelines on Computation of Base Rate based on Marginal Cost of Funds methodology The Reserve Bank of India has today placed on its website for comments/feedback, the draft guidelines on interest rates on advances-Base Rate methodology. Comments/feedback… Read More

Extension of time for filing of cost audit report to the Central Government for the Financial Year 2014-2015 in form CRA-4

The Ministry of Corporate Affairs has General Circular No. 12/2015 dated 1st September, 2015 extending the last date for filing of Form CRA-4 without any penalty/late fee. To access the complete circular, please click below: Extension of time for filing of cost audit report to the Central Government for the Financial Year 2014-2015 in form… Read More