ITR-1 SAHAJ AY 2016-17 Download

By | May 15, 2016

Share this on WhatsApp ITR-1 SAHAJ INDIVIDUAL INCOME TAX RETURN (For Individuals having Income from Salaries, One house property, Other sources (Interest etc.) Refer to Instructions for eligibility.) Download ITR-1 SAHAJ in PDF Download Acknowledgement for  ITR-1 SAHAJ Download ITR-1 SAHAJ in Excel utility Related Post : ITR Forms for AY 2016-17 (FY 2015-16) Notified by Income tax… Read More »

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CSR Report Format

By | May 15, 2016

Share this on WhatsAppCSR Report Format as per Rule 8 Annexure COMPANIES (CORPORATE SOCIAL RESPONSIBILITY POLICY) RULES, 2014 CSR Reporting (Rule-8)  8. (1) The Board’s Report of a company covered under these rules pertaining to a financial year commencing on or after the 1st day of April, 2014 shall include an annual report on CSR containing… Read More »

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Interest on Loans to Govt. employees for construction/Purchase of houses/flats

By | May 15, 2016

Share this on WhatsAppRates of interest on advances and Loans to Govt. employees, for construction/Purchase of houses/flats No.5(3)-B(PD)/2015 Government of India Ministry of Finance Department of Economic Affairs (Budget Division) Room No. 263-B, North Block, New Delhi dated the 3rd February, 2016. Office Memorandum The undersigned state-that the rates of interest on advances and loans… Read More »

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Income Computation and Disclosure Standard (ICDS) Notification

By | May 15, 2016

Share this on WhatsApp Income Computation and Disclosure Standard NOTIFICATION NO.32/2015 [F. NO. 134/48/2010-TPL]/SO 892(E), DATED 31-3-2015 Sponsored Book BUY   In exercise of the powers conferred by sub-section (2) of section 145 of the Income-tax Act, 1961 (43 of 1961) and in supersession of the notification of the Government of India in the Ministry… Read More »

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Finance bill 2016 key amendments as passed by Lok Sabha

By | May 15, 2016

Share this on WhatsAppThe Finance Bill, 2016 (the Bill) was introduced by the Finance Minister in the Lok Sabha on 29th February 2016. On 5th May 2016, the Bill was passed by the Lok Sabha with certain amendments. Amendments to the Finance Bill, 2016 The Finance Bill, 2016 (the Bill) was introduced by the Finance… Read More »

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web hosting service by scientific equipment is’t royalty

By | May 15, 2016

Share this on WhatsAppIN THE ITAT MUMBAI BENCH ‘L’ Deputy Director of Income-tax (Int’l Taxation) Circle 2(1), Mumbai v. Savvis Communication Corporation PRAMOD KUMAR, ACCOUNTANT MEMBER AND PAWAN SINGH, JUDICIAL MEMBER IT APPEAL NO. 7340 (MUM.) OF 2012 [ASSESSMENT YEAR 2009-10] MARCH  31, 2016 Harsshad Vengurlekar for the Appellant. Kanchan Kaushal and Dhanesh Bafna for… Read More »

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Service Tax Amendment w.e.f 14.05.16 and 01.06.16

By | May 15, 2016

Share this on WhatsAppService Tax Amendment Finance Act 2016 Also Read :Finance Bill 2016 assented to by President Changes with effect from 14.05.2016 1. Right to use the Radio-Frequency Spectrum is included as declared services Prior to 01.04.2016, services covered by the definition of the support services (as defined under section 65B(49) of the Finance… Read More »

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Order Passed under VCES are appealable , writ not maintainable : HC

By | May 15, 2016

Share this on WhatsApp HIGH COURT OF MADRAS V.R. Mohanraj v. Commissioner of Service Tax-I M. DURAISWAMY, J. W.P. NO. 34481 OF 2015 M.P. NO. 1 OF 2015 APRIL  20, 2016 T.R. Senthil Kumar for the Petitioner. A.P. Srinivas, Standing Counsel for the Respondent. ORDER 1. The petitioner has filed the above Writ Petition to… Read More »

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Income Declaration Scheme 2016 to open from 1st June 2016

By | May 15, 2016

Share this on WhatsAppThe Income Declaration Scheme 2016 to open from 1st June 2016. The Income Declaration Scheme, 2016 incorporated as Chapter IX of the Finance Act 2016 provides an opportunity to all persons who have not declared income correctly in earlier years to come forward and declare such undisclosed income(s). Under the Scheme, such… Read More »

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Sim cards value to be included in taxable services

By | May 14, 2016

Share this on WhatsAppCESTAT, MUMBAI BENCH Loop Mobile India Ltd. v. Commissioner of Service Tax, Mumbai-I M.V. RAVINDRAN, JUDICIAL MEMBER AND C.J. MATHEW, TECHNICAL MEMBER ORDER NO. A/86524/2016/STA APPEAL NO. ST/236/2012-MUM. MARCH  1, 2016 Vinay Jain, CA for the Appellant. B. Kumar Iyer, Supdt. (AR) for the Respondent. ORDER M.V. Ravindran, Judicial Member – This… Read More »

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Members of the Insurance Advisory Committee

By | May 14, 2016

Share this on WhatsAppNOTIFICATION F.NO.IRDAI/IAC/6/118/2016 DATED 4-4-2016 In exercise of the powers conferred by sub section (1) of section 25 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999), the Authority hereby makes the following notification: The following members are appointed as Members of the Insurance Advisory Committee with effect from the… Read More »

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Tolerance up to 5% in the gross vehicle weight :IRDA Advice to motor insurers

By | May 14, 2016

Share this on WhatsAppCIRCULAR NO.IRDAI/NL/CIRC/MISC/095/05/2016  DATED 13-5-2016 This refers to the Ministry of Road Transport and Highways notification dated 7-1-2016, which states that the tolerance up to 5% in the gross vehicle weight and safe axle weight may be allowed for the purpose of compliance to sub-section 3 of section 113 of the Motor Vehicles… Read More »

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Finance Bill 2016 assented to by President

By | May 14, 2016

Share this on WhatsAppFinance Bill, 2016 assented to by President The Finance Bill was presented in the Lok Sabha on February 29, 2016. On May 5, 2016, the Lok Sabha passed the Finance Bill, 2016 and later on it was approved by the Rajya Sabha.The Finance Bill, 2016 received the presidential assent on May 14,… Read More »

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Tax Deductor registration on Incometaxindiaefiling.gov.in

By | May 14, 2016

Share this on WhatsAppTax Deductor registration Tax Deductor and Collector User Registration Pre-requisites for Tax Deductor registration in the e-Filing application  User must have a valid TAN. Tax Deductor registration  Process for New Users  Type the URL of e-Filing application in a browser. (https://incometaxindiaefiling.gov.in)  Click on the ‘Register Yourself’ button and select ‘Tax… Read More »

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Res judicata

By | May 14, 2016

Share this on WhatsAppRes judicata Res judicata  also known as “Claim Preclusion”. It is a Latin term for “a matter already Judged.” It simply means that one cannot agitate a matter in a Court of law on which a Judgment has already been delivered. In British India the rule of Res Judicata was first introduced… Read More »

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MS Steel Angles /parts CENVAT not available to Infra Companies

By | May 14, 2016

Share this on WhatsAppThe Larger Bench of New Delhi CESTAT, held that the passive infrastructure companies hiring out telecom towers, to telecom companies, taxable under ‘Business Auxiliary/Support Services’, are not eligible to claim CENVAT Credit of MS Steel Angles/parts, pre-fabricated shelters parts, etc. used in erection of such towers. In the said case, the assessees… Read More »

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Internal Audit services eligible for CENVAT Credit

By | May 14, 2016

Share this on WhatsAppHeld In the case of DRP Malleables (P.) Ltd.  the Tribunal held that Chartered Accountant Service is specifically covered under the scope of input service and the assessee is eligible for availing credit. In my considered view, the Chartered Accountant Service related to day-to-day service cannot be reason for denial of CENVAT… Read More »

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IND AS Applicability :Companies (Indian Accounting Standards) Rules 2015

By | May 13, 2016

Share this on WhatsAppMINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, 16th February, 2015 G.S.R. 111(E). —In exercise of the powers conferred by Section 133 read with section 469 of the Companies Act, 2013 (18 of 2013) and sub-section (1) of Section 210A of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation… Read More »

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Companies (Indian Accounting Standards) (Amendment) Rules 2016

By | May 13, 2016

Share this on WhatsApp Companies Act, 2013 NOTIFICATION NO. GSR 365(E) [F.NO.01/01/2009-CL-V (PART)], DATED 30-3-2016 In exercise of the powers conferred by section 133 read with section 469 of the Companies Act, 2013 (18 of 2013) and sub-section (1) of section 210A of the Companies Act, 1956 (1 of 1956), the Central Government, in consultation… Read More »

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Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others

By | May 13, 2016

Share this on WhatsAppChange in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified  In exercise of the powers conferred by sub-section (2) of Section 14 of the Customs… Read More »

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Branch Office/Liaison Office/ Project Office in India by foreign entities – procedural guidelines

By | May 13, 2016

Share this on WhatsAppRBI/2015-16/397 A.P. (DIR Series) Circular No.69 [(1)/22(R)] May 12, 2016 To All Authorised Dealers Category – I Banks Madam / Sir, Establishment of Branch Office (BO)/ Liaison Office (LO)/ Project Office (PO) in India by foreign entities – procedural guidelines Attention of Authorised Dealer Category – I (AD Category – I) banks… Read More »

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Format of Abridged version of the offer document

By | May 13, 2016

Share this on WhatsAppCIRCULAR CIR/IMD/DF/55/2016  Dated May 11, 2016 issued by SEBI  ( Guidelines for public issue of units of InvITs) Application and Abridged version of the offer document. (1) The application form and the abridged version of the offer document as stated in Regulation 14(4)(n) of the InvIT Regulations for the issue shall be… Read More »

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National Intellectual Property Rights Policy approved by Govt : 7 Objectives

By | May 13, 2016

Share this on WhatsAppCabinet approves National Intellectual Property Rights Policy “Creative India; Innovative India: रचनात्मक भारत; अभिनव भारत”  The Union Cabinet yesterday approved the National Intellectual Property Rights (IPR) Policy that will lay the future roadmap for intellectual property in India. The Policy recognises the abundance of creative and innovative energies that flow in India,… Read More »

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Download Form 16 for TDS on salary

By | May 13, 2016

Share this on WhatsAppForm 16 Certificate under section 203 of the Income-tax Act, 1961 for tax deducted at source on salary Form No 16 It if The certificate of deduction of tax at source or the certificate of payment of tax by the employer on behalf of the employee under sub-section (1A) of section 192 of income… Read More »

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Companies Adjudication of Penalties Rules 2014

By | May 13, 2016

Share this on WhatsAppRules under Companies Act 2013 CHAPTER XXIX : MISCELLANEOUS COMPANIES (ADJUDICATION OF PENALTIES) RULES, 2014 In exercise of the powers conferred by section 454, read with section 469 of the Companies Act, 2013, the Central Government hereby makes the following rules, namely:— Short title and commencement. 1. (1) These rules may be… Read More »

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NCLT terms of service of Chairperson and other Members Rules 2014

By | May 13, 2016

Share this on WhatsAppRules under Companies Act 2013 CHAPTER XXVII : NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL NATIONAL COMPANY LAW APPELLATE TRIBUNAL (SALARIES, ALLOWANCES AND OTHER TERMS AND CONDITIONS OF SERVICE OF THE CHAIRPERSON AND OTHER MEMBERS)RULES, 2014 In exercise of the powers conferred by section 469 read with section 414 of the Companies… Read More »

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NCLT Salary, Allowances and other Terms and Conditions of Service of President and other Members Rules 2013

By | May 13, 2016

Share this on WhatsAppRules under Companies Act 2013 CHAPTER XXVII : NATIONAL COMPANY LAW TRIBUNAL AND APPELLATE TRIBUNAL NATIONAL COMPANY LAW TRIBUNAL (SALARY, ALLOWANCES AND OTHER TERMS AND CONDITIONS OF SERVICE OF PRESIDENT AND OTHER MEMBERS) RULES, 2013 In exercise of the powers conferred by section 469 read with section 414 of the Companies Act,… Read More »

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Registration of Foreign Companies Rules 2014

By | May 13, 2016

Share this on WhatsAppRules under Companies Act 2013 CHAPTER XXII : COMPANIES INCORPORATED OUTSIDE INDIA COMPANIES (REGISTRATION OF FOREIGN COMPANIES) RULES, 2014 In exercise of the powers conferred under clause (c) and clause (h) of sub-section (1) and sub-section (3) of section 380, clause (a) of sub-section (1) and sub-section (3) of section 381, section… Read More »

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Companies Authorised to Registered Rules 2014

By | May 13, 2016

Share this on WhatsAppRules under Companies Act 2013 CHAPTER XXI : COMPANIES AUTHORISED TO REGISTER UNDER THIS ACT COMPANIES (AUTHORISED TO REGISTERED) RULES, 2014 In exercise of the powers conferred by sub-section (1) of section 164, sub-section (1) of section 466, section 367, and section 374 read with sub-section (1) and sub-section (2) of section… Read More »

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Companies Inspection , Investigation and Inquiry Rules 2014

By | May 13, 2016

Share this on WhatsAppRules under Companies Act 2013 CHAPTER XIV : INSPECTION, INQUIRY AND INVESTIGATION COMPANIES (INSPECTION, INVESTIGATION AND INQUIRY) RULES, 2014 In exercise of the powers conferred under sub-section (2) of section 211, sub-section (5) of section 211, section 214, sub-section (3) of section 210, and sub-section (11) of section 217, read with sub-sections… Read More »

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Appointment and Remuneration of Managerial personnel Rules 2014

By | May 13, 2016

Share this on WhatsAppRules under Companies Act 2013 CHAPTER XIII : APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES,2014 In exercise of the powers conferred under sub-section (4) of section 196, sub-section (5) of section 197, sub-section (12) of section 197, section 200, sub-section (1) of section 198, sub-section… Read More »

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Form AOC-1: For Subsidiaries Associates and Joint Ventures

By | May 13, 2016

Share this on WhatsAppInformation to be furnished in Form AOC-1 Form AOC-1 is in 2 parts. “Part A : Subsidiaries” requires that the following (Information in respect of each subsidiary is to be presented with amounts in Rs. …..) 1. Sl. No. 2. Name of the subsidiary 3. Reporting period for the subsidiary concerned, if… Read More »

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FORM NO. AOC -2 : Draft Format

By | May 13, 2016

Share this on WhatsApp FORM NO. AOC -2 (Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014. Form for Disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub section (1) of section 188 of the… Read More »

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Draft Auditor Appointment letter

By | May 13, 2016

Share this on WhatsAppDraft Auditor Appointment letter (On the letterhead of the Company) M/s._________                                                                                  … Read More »

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Provident Fund withdrawal taxability if 5 years service not completed

By | May 13, 2016

Share this on WhatsAppSection 10(12 ) of Income tax Act 1961 Provident Fund withdrawal taxability Under section 10(12) of the Income-tax Act, 1961 (‘the Act’) total exemption from tax is allowable on the accumulated balance due and becoming payable to an employee participating in a recognised provident fund, to the extent provided in rule 8 of Part A of the… Read More »

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Stock Appreciation Rights taxable as capital gains

By | May 13, 2016

Share this on WhatsAppIssue : Whether amount received on redemption of Stock Appreciation Rights (SARs) is  capital gain or to be treated as perquisite under Sec.17(2)(iii) of the I.T. Act or under Sec. 28(iv) of the Act purportedly on the ground that the employer – employee relationship did exist between the assessee and Employer ? Held… Read More »

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COMPANIES REGISTRATION OFFICES AND FEES RULES, 2014

By | May 13, 2016

Share this on WhatsApp COMPANIES (REGISTRATION OFFICES AND FEES) RULES, 2014 NOTIFICATION NO. GSR 268(E)[F.NO.01/16/2013 CL-V], DATED 31-3-2014 In exercise of the powers conferred by section 396, 398, 399, 403 and 404, read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013) and in supersession of Companies (Central… Read More »

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COMPANIES MISCELLANEOUS RULES 2014

By | May 13, 2016

Share this on WhatsAppCOMPANIES (MISCELLANEOUS) RULES, 2014 NOTIFICATION NO. GSR 253(E)[F.NO.1/25/2013-CL-V], DATED 31-3-2014 In exercise of the powers conferred under section 455, sub-section (2) of section 459 and sub-section (1) of section 464, read with section 469 of the Companies Act, 2013, and in supersession of the Companies (Central Government’s) General Rules and Forms, 1956… Read More »

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What is Dormant company ?

By | May 13, 2016

Share this on WhatsAppSection – 455, Companies Act, 2013 Enforced with effect from 1-4-2014. Dormant company 455. (1) Where a company is formed and registered under this Act for a future project or to hold an asset or intellectual property and has no significant accounting transaction, such a company or an inactive company may make… Read More »

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CA examiners shall appoint Checkers : ICAI

By | May 12, 2016

Share this on WhatsAppMay 12, 2016 Assignments of Checkers The examination process inter alia includes a procedure of having the answer books checked, after evaluation by examiners, by Checkers to ensure that all answers have been evaluated, marks awarded have been carried forward to the cover page of the answer books and that the totalling… Read More »

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Ownership in Private Sector Banks Directions 2016

By | May 12, 2016

Share this on WhatsAppRBI/DBR/2015-16/24 Master Direction DBR.PSBD.No. 97/16.13.100/2015-16                                                         May 12, 2016 Master Direction – Ownership in Private Sector Banks, Directions, 2016 In exercise of the powers conferred… Read More »

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Guidelines for Voluntary surrender of Certificate of Authorisation (COA) by Payment System Operators (PSOs) authorised under PSS Act 2007

By | May 12, 2016

Share this on WhatsAppBI/2015-16/396 DPSS.CO.AD.No.2627/02.27.005/2015-16 May 12, 2016 To, All entities authorised under the Payment & Settlement Systems Act, 2007 (PSS Act) Dear Sir/Madam, Guidelines for Voluntary surrender of Certificate of Authorisation (COA) by Payment System Operators (PSOs) authorised under PSS Act 2007 As you are aware, in terms of section 4 of the Payment… Read More »

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Co-operative Banks – Interest Rate on Deposits : RBI master Direction

By | May 12, 2016

Share this on WhatsAppRBI/DCBR/2015-16/23 Master Direction DCBR.Dir.No.1/13.01.000/2015-16 May 12, 2016 Master Direction – Reserve Bank of India (Co-operative Banks – Interest Rate on Deposits) Directions, 2016 In exercise of the powers conferred by Sections 21 and 35 A read with section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India being satisfied… Read More »

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overdue Export Advances :Quarterly Statement by AD

By | May 12, 2016

Share this on WhatsAppQuarterly Statement showing details of overdue Export Advances As per  Exports of Goods and Services : RBI new directions  following is the format for AD shall exercise proper due diligence and ensure compliance with KYC and AML guidelines so that only bona-fide export advances flow into India. Doubtful cases as also instances… Read More »

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Format of Softex Forms submitted in bulk for royalty receipt

By | May 12, 2016

Share this on WhatsAppSoftex Forms submitted in bulk for royalty receipt  As per RBI  A.P. (DIR Series) Circular No.68 [(1)/23(R)] Dated 12.05.2016 B.5 SOFTEX Forms (i) All software exporters shall file single / bulk SOFTEX form in the form of a statement in excel format to the competent authority for certification. Since the SOFTEX data… Read More »

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New Export Declaration Form

By | May 12, 2016

Share this on WhatsApp Export Declaration Form Download new Export Declaration Form as per RBI  A.P. (DIR Series) Circular No.68 [(1)/23(R)] Dated 12.05.2016 Share this on WhatsApp

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