Daily Archives: May 7, 2016

Apply for non deduction of TDS u/s 195 even if person was subjected to concealment penalty

A person can apply for non-deduction of TDS u/s 195 even if he has been subjected to concealment penalty [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 NO. SO 1655(E) [NO.31/2016 (F.NO.370142/3/2016-TPL)], DATED… Read More »

FORM 15G /15H submission process by deductor/collector on efiling portal

Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income tax (systems) NOTIFICATION NO.7/2016 [F.NO.DGIT(S)/ADG(S)-2/TDS E-FILING NOTIFICATION/110/2016], DATED 4-5-2016 PROCEDURE FOR SUBMISSION OF DECLARATION BY A PERSON CLAIMING RECEIPT OF CERTAIN INCOMES WITHOUT DEDUCTION OF TAX IN FORM 15G / 15H UNDER SECTION (1) OR UNDER SUB SECTION (1A) OF SECTION… Read More »

Form 15cc submission procedure on efiling portal

Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income tax (systems) NOTIFICATION NO.8/2016 [F.NO.DGIT(S)/ADG(S)-2/TDS E-FILING NOTIFICATION/110/2016], DATED 4-5-2016 PROCEDURE FOR SUBMISSION OF FORM 15CC BY AN AUTHORISED DEALER IN RESPECT OF REMITTANCES UNDER SECTION 195(6) OF THE INCOME TAX ACT 1961 READ WITH RULE 37BB OF THE INCOME TAX RULES… Read More »

Consolidated FDI Policy Circular of 2015

Ministry of Commerce and Industry Department of Industrial Policy Promotion CONSOLIDATED FOREIGN DIRECT INVESTMENT POLICY [EFFECTIVE FROM 12-5-2015] CIRCULAR OF 2015, DATED 12-5-2015 CHAPTER 1 INTENT AND OBJECTIVE 1.1 Intent and Objective 1.1.1 It is the intent and objective of the Government of India to attract and promote foreign direct investment in order to supplement… Read More »

Asset Reconstruction Companies 100% FDI under Automatic route allowed

Government of India Ministry of Commerce and Industry Department of Industrial Policy & Promotion PRESS NOTE NO.4 (2016 SERIES), DATED 6-5-2016   Subject : POLICY ON FOREIGN INVESTMENT FOR ASSET RECONSTRUCTION COMPANIES – AMENDMENT IN PARAGRAPH 6.2.18.1 OF CONSOLIDATED FDI POLICY CIRCULAR OF 2015 1. Present Position: 1.1 Paragraph 6.2.18.1 of ‘Consolidated FDI Policy Circular of… Read More »

Delhi entertainment and betting tax act

DELHI GAZETTE : EXTRAORDINARY Part IV GOVERNMENT OF THE NATIONAL CAPITAL TERRITORY OF DELHI FINANCE (REVENUE-I) DEPARTMENT NOTIFICATION New Delhi, the 5th June, 2016 F. No.10(10)/Fin(Rev-I)/2015-16/138.—In exercise of the powers conferred by sub-section(1) of section 14 of the Delhi Entertainment and betting Tax Act,1996(Delhi Act No.8 of 1997), and in partial modification of this Government… Read More »

SIKH GURDWARAS (AMENDMENT) ACT 2016 : No electrol if trims ,smokes/ drinks alcoholic

THE GAZETTE OF INDIA EXTRAORDINARY PART II — Section 1 MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 6th May, 2016/Vaisakha 16, 1938 (Saka) The following Act of Parliament received the assent of the President on the 5th May, 2016, and is hereby published for general information:— THE SIKH GURDWARAS (AMENDMENT) ACT, 2016… Read More »

Research Internship Scheme introduced by RBI

Date : May 06, 2016 The Reserve Bank of India has introduced a Research Internship Scheme to provide an opportunity to young individuals to expose themselves to cutting edge research in central banking. The scheme is aimed at individuals who have recently finished their graduation and wish to pursue PhD in economics, banking, finance or… Read More »