Daily Archives: April 27, 2016

Import of commercial dogs for breeding Banned by Govt

By | April 27, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) NOTIFICATION New Delhi, the 25th April, 2016 No. 3/2015-2020 Subject: Introduction of policy conditions on import of dogs in Chapter 01 of ITC (HS), 2012–Schedule–1 (Import Policy). S.O. 1496(E).—In exercise of powers conferred… Read More »

XBRL filing ? MCA exempt certain companies

By | April 27, 2016

COMPANIES (FILING OF DOCUMENTS AND FORMS IN EXTENSIBLE BUSINESS REPORTING LANGUAGE)  AMENDMENT IN RULE 3 NOTIFICATION NO. GSR 397(E) [F.NO.1/19/2013-CL-V], DATED 4-4-2016 In exercise of the powers conferred by sub-sections (1) and (2) of section 469 read with section 398 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following… Read More »

CBDT Defined : taxpayer ,tax-base , stop-filer ,non-filer

By | April 27, 2016

REPORT OF COMMITTEE FOR RECOMMENDING STANDARD DEFINITION OF CERTAIN TERMS RELATING TO DIRECT TAX ADMINISTRATION OFFICE MEMORANDUM F.NO.309/11/2016-OT, DATED 22-4-2016 A Committee was constituted by the Board, vide OM of even number dated 22nd January 2016, under the chairmanship of Shri Avadhesh Kumar Mishra, CIT (TDS)-2, Delhi to recommend standard definitions of certain commonly used… Read More »

Draft assessment order mandatory in case of foreign company : High Court

By | April 27, 2016

Held “There is no dispute that the assessee is a foreign company”. Therefore, in view of Section 144C(15) of the Act which defines eligible assessee to whom Section 144C(1) of the Act applies to inter alia mean any foreign company. Therefore, a draft assessment order under Section 144C(1) of the Act is mandated before the… Read More »

Interest on refund of excess TDS Depoisted u/s 195 can’t be denied : CBDT

By | April 27, 2016

SECTION 244A, READ WITH SECTION 195, OF THE INCOME-TAX ACT, 1961  PAYMENT OF INTEREST ON REFUND OF EXCESS TDS DEPOSITED UNDER SECTION 195 CIRCULAR NO.11/2016 [F.NO.279/MISC./M-140/2015-ITJ], DATED 26-4-2016 The procedure for refund of tax deducted at source under section 195 of the Income tax Act, 1961, to the person deducting the tax is delineated in… Read More »

Section 271C Penalty on ” Aishwarya Rai ” deleted due to CA certificate

By | April 27, 2016

Facts of the Case Assessee is an individual. Assessee had remitted an amount of U.S. $ 77,500, to Ms. Simone Sheffield, resident of U.S.A. without deduction of tax under section 195 of the Act, It was submitted by the Assessee that the payment made made maintenance of website and other allied services rendered to the… Read More »

S. 271D AND 271E Penalty initiation not below rank of JCIT : CBDT

By | April 27, 2016

SECTION 271D, READ WITH SECTION 271E, OF THE INCOME-TAX ACT, 1961  FAILURE TO COMPLY WITH PROVISIONS OF SECTION 269SS COMMENCEMENT OF LIMITATION FOR PENALTY PROCEEDINGS UNDER SECTIONS 271D AND 271E CIRCULAR NO.9/DV/2016 [F.NO.279/MISC./M-116/2012-ITJ], DATED 26-4-2016 It has been brought to the notice of the Central Board of Direct Taxes (hereinafter referred to as the Board)… Read More »

Steps to prevent misuse of reserved ticketing system

By | April 27, 2016

Passenger Reservation System in Indian Railways At present, computerised reservation facility is available at approximately 3337 reservation centers, which are working satisfactorily. Till March 2016, 134 Yatri Ticket Suvidha Kendra (YTSK) licensees have been engaged. They are also working satisfactorily. Next Generation e-Ticketing (NGET) which was launched on 28.04.2014, now has a capacity of booking… Read More »

Steps to increase speed of trains

By | April 27, 2016

Steps to increase speed of trains Recently, a specific Directorate i.e. Mobility Directorate has been set up of which one of the primary objectives is to initiate measures for increasing the speed of trains. Besides, in Railway Budget 2016-17, a new category of train service for the reserved passengers ‘Tejas’ has been announced with the… Read More »

New Catering Policy in Indian Railways

By | April 27, 2016

New Catering Policy in Indian Railways The Catering Policy 2010, presently in force for management of catering services over Indian Railways was issued in July 2010. The salient features of this Policy include (i) Shifting management and monitoring of all catering services (except Food Plaza, Food Courts and Fast Food Units) from Indian Railways Catering… Read More »

Merry-Go-Round System in Railways

By | April 27, 2016

Merry-Go-Round System in Railways In order to provide an economical and reliable alternative short lead traffic, a rationalized scheme with lump-sum rates for Merry-Go-Round has been notified with effect from 01.04.2016. Some of the features of this scheme are as under: • The MGR Terminals at both ends shall be privately owned. • Rail track… Read More »

Minorities Development schemes of Govt

By | April 27, 2016

Funds for Development of Minorities   The Ministry of Minority Affairs  is implementing a number of programme/schemes for the development of minorities through Institutions/Non Government Organizations (NGOs)/State Governments in various States all over the country. These are given below: Schemes of area development – The Multi-sectoral Development Programme (MsDP) was launched in the year 2008-09… Read More »

Foreign contribution to be reported in 48 hour by Banks

By | April 27, 2016

Changes in FCRA As per Foreign Contribution (Regulation) Amendment Rules, 2015 notified in Gazette of India on 14.12.2015, the Bank shall report to the Central Government within forty-eight hours any transaction in respect of receipt and utilization of any foreign contribution by any person whether or not such person is registered or granted prior permission… Read More »

39 Countries for World Heritage under Project “ Mausam ”

By | April 27, 2016

39 Countries Brought on Board for Trans-National Nomination for World Heritage Under Project “ Mausam ” of M/O Culture The Government has identified 39 countries (as given below) to bring on board for trans-national nomination for World Heritage under Project “Mausam”. The disciplines involved in the project are those of archaeology, history, sociology, ethnography, marine… Read More »

Entry Fees for Centrally Protected Ticketed Monuments w.e.f 01.4.16

By | April 27, 2016

Revised Entry Ticket Prices for Centrally Protected Ticketed Monuments           The entry fee for centrally protected ticketed monuments has been reasonably increased with effect from 1.4.2016. The revised entry fee applicable is given below.             The entry fee has now been revised reasonably in consultation with all stakeholders without putting such burden on the… Read More »