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30 June 2016

PPF Account Premature Closure : Latest Rules & Eligibility Amount Calculation

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June 22, 2016 | by Sreekanth Reddy Public Provident Fund (PPF) is one of the best Debt oriented Saving options that are available in India...
25 June 2016

CBDT CLARIFICATION ON TCS PROVISION

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The CBDT vide Circular No. 23/2016 dt. 24 June 2016 has clarified on FAQs of stakeholders reg. scope of the provisions and the procedure to ...
24 June 2016

HUF cannot be a partner but its karta or any individual of HUF can be a partner in a partnership firm in its individual capacity and not the HUF

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ICAI - Clarification that HUF cannot be a partner but its karta or any individual of HUF can be a partner in a partnership firm in its indiv...

Krishi Kalyan Cess exemption

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NOTIFICATION No. 35/2016-Service Tax New Delhi, the 23rd June, 2016 G.S.R. ---(E).- In exercise of the powers conferred by sub-sec...
23 June 2016

FAQ-Company Name Reservation and Incorporation at Central Registration Centre (CRC)-MCA

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FAQ-Company Name Reservation and Incorporation at Central Registration Centre (CRC)-MCA 1. What is Central Registration Centre (CRC)? The ...
22 June 2016

CBDT abolishes tax on start ups issuing shares above market value

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Cheering news for start ups –  CBDT abolishes tax on start ups issuing shares above market value    Closely held companies used t...

Radical changes in FDI policy regime

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Major impetus to job creation and infrastructure: Radical changes in FDI policy regime; Most sectors on automatic route for FDI The Un...

The Income Tax Central Action Plan 2016-17 talks of blocking of PAN

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The Income Tax Central Action Plan 2016-17 talks of blocking of PAN. The important highlights of the suggestions are as under: 1. Pan Bloc...
19 June 2016

CBDT notifies tax exemption on investments above fair market rate for startups

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*CBDT notifies tax exemption on investments above fair market rate for startups* In a major incentive, startups can now issue shares to inv...
18 June 2016

Sectoral impact of likely passage of GST Bill

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*Automobile*   *2w,Small Cars, CVs – Hero, Bajaj, TVS, Eicher, AL, Maruti* Currently, the total tax outgo is ~27% (Excise + VAT + CST). A...

Ten Features that distinguish the NCLT from CLB

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The constitution of these Tribunals marks the dissolution of the Company Law Board (CLB). Fourteen years after its introduction in the Com...
16 June 2016

Simplified Procedure-Form 15G-H

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Simplification of Procedure for Form No. 15G & 15H — CBDT Clarifications The CBDT vide Notification No. 9/2016 dt. 7th June, 2016...

15 things you should know about Model GST Law

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On June 14, 2016 the Finance Ministry has released the 'Model GST Law'. It outlines the structure of the GST regime. Further, the...

Don't stress about the future, it hasn't arrived yet

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Don't stress about the future, it hasn't arrived yet.
11 June 2016

Separate date for furnishing 15G/15H

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Separate date for furnishing 15G/15H announced by CBDT vide Notification dated 09-06-2016 Earlier, TDS return for June was required to be f...
07 June 2016

Amended Rule 8D for computation of disallowance u/s 14A

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CBDT notifies amended Rule 8D for computation of disallowance u/s 14A, clarifies that amount of disallowance as computed under Rule 8D shall...

No Service tax Audit by Department

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In the Delhi High Court Mega Cabs Pvt. Ltd. filed writ petition (C) No. 5192/2015 [[Mega Cab v UOI and Anr.] challenging the validity o...

Cost inflation index for F.Y.2016-17 will be 1125

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Cost inflation index for F.Y.2016-17 will be 1125. Notification No. 42/2016 dt 2 June 2016
04 June 2016

IDRS

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Analysis of Indirect Tax Dispute Resolution Scheme, 2016 (IDRS)  Indirect Tax Dispute Resolution Scheme, 2016 (IDRS) has been intro...

Income Tax Provisions Applicable from 1st June 2016

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Income Tax Provisions Applicable from 1 st June 2016 (i)          Amendment relating to Advance Tax (The change is effective from fina...