[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION [Notification No. 88 /2016, F.No.133/23/2015-TPL] New Delhi, the 29th September, 2016 INCOME-TAX [Notification No. 88 /2016, F.No.133/23/2015-TPL] S.O. 3080(E).— In exercise of the powers conferred … Read more
Introduction “Audit” – One of the most dreaded consequence of getting registered with the service tax department. Nobody wants to get strangled in the vicious circles of departmental audit and yet, sooner or later, you have to face the dungeon of audit. Times and now, questions have been raised on the qualifications and eligibility of … Read more
Circular No.33 of 2016 F.No.142/11/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated: 12th September, 2016 Clarifications on the Direct Tax Dispute Resolution Scheme, 2016 The Direct Tax Dispute Resolution Scheme, 2016 (hereinafter referred to as ‘the Scheme’) incorporated as Chapter X of the Finance … Read more
Maharashtra Notification Amends Schedule C, D, & E Enhance tax rate to 6% and 13.5% w.e.f. 17-9-2016 Notification No. VAT. 1516/CR-123/Taxation-1- Dated 16th September, 2016 In exercise of the powers conferred by sub-section (1) of section 9 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby, with … Read more
Foreign direct investment (FDI) is an investment made by any company or an individual in the business concern of another country with a motive to start any business in other country or to become partner/ owner in the business of other country. Example: A citizen or a company in America when invest money into the … Read more
The Government of India has enacted the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006. MSME stands for micro, small and medium enterprises and any enterprise that falls under any of these three categories. MSME enterprises are the backbone of any economy and are an engine of economic growth, promoting equitable development for all. … Read more
ICAI welcomes the passing of the much awaited 122nd Constitution Amendment (GST) Bill, 2014 by the Rajya Sabha which would pave the way for implementation of Goods and Services Tax in India. It is the most significant tax reform since Independence, which subsumes a variety of federal and state taxes. The Bill would now be … Read more
For the kind information of all practicing members of Institute Extension of Multipurpose Empanelment Form for the year 2016-17 The last date of online filing of MEF 2016-17 is hereby extended to 20th September, 2016 at www.meficai.org and the last date of submission of duly signed declaration has been extended to 30th September, 2016. (CA. … Read more
The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100 per cent of the paid up capital of M/s Crompton Greaves Consumer Electricals Limited under the Portfolio Investment Scheme (PIS). The Reserve Bank has stated that the company has passed resolutions at … Read more
Part I. Purchase of immovable property outside India by Resident Individuals These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the regulations made or directions issued thereunder may be referred … Read more