Daily Archives: June 8, 2016

Mandatorily item-wise details in Annx-2A, Annex-2B, DVAT-30 and DVAT-31

By | June 8, 2016

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE AND TAXES (POLICY BRANCH) VYAPAR BHAWAN, I.P. ESTATE, NEW DELHI-110 002 No.F.3(670)/VAT/Policy/2016/343-48 Dated 06/06/2016 CIRCULAR NO. 9 of 2016-17  Sub: Requirement of item-wise details in Forms Annexure-2A, Annexure-2B, DVAT-30 and DVAT-31 Certain amendments in the Delhi Value Added Tax Rules, 2005 have been recently made vide notification No.F.3(30)/Fin(Rev-I)/dsvi/121… Read More »

Limited Review Report Format

By | June 8, 2016

 Format for the Limited Review Report for companies (other than banks) Review Report to ……………………. We have reviewed the accompanying statement of unaudited financial results of …………………………….. (Name of the Company) for the period ended…………. This statement is the responsibility of the Company’s Management and has been approved by the Board of Directors. Our responsibility… Read More »

TCS on sale of Motor Vehicle : CBDT clarify via FAQ

By | June 8, 2016

TCS on sale of Motor Vehicle Circular No 22/ 2016 F.No 370142/17/2016-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direcl Taxes (TPL Division) Dated 8th, June 2016 Sub: Amendment in Section 206C vide Finance Act 2016 – Clarification s regarding Section 206C of the Income-tax Act, 1961 (hereafter referred to… Read More »

Notional interest on Security deposit is not to be included in perquisite value of the accommodation

By | June 8, 2016

Where an employer takes residential premises on rent by giving security deposit for the benefit of employees, whether the notional interest on such security deposit is liable to be included in the perquisite value of the accommodation given to the assessee employee is the question raised in this appeal?” Held on a plain reading of… Read More »

Donation by charitable trust to another charitable trust allowed as application of income

By | June 8, 2016

Held We hold that when the donation given by one trust to another trust out of current year’s income is permitted in section 11 of the Act as an application of income, the same cannot be curtailed by another provision of the Act (i.e section 13(1)(c ) (ii) read with section 13(3) of the Act)… Read More »

FEM Foreign Currency Accounts by person resident in India amendment Regulations 2016

By | June 8, 2016

RESERVE BANK OF INDIA (Foreign Exchange Department) (CENTRAL OFFICE) Notification No. FEMA 10(R)/(1)/2016-RB Mumbai, the 1st June, 2016 Foreign Exchange Management (Foreign Currency Accounts by a person resident in India) (Amendment) Regulations, 2016 G.S.R. 570(E).—In exercise of the powers conferred by Section 9 and clause (e) of sub-section (2) of section 47 of the Foreign… Read More »

Investor Protection Fund (IPF) of Depositories :SEBI Circular

By | June 8, 2016

Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD/DP/CIR/P/2016/58 June 07, 2016 To, The Depositories, Dear Sir / Madam, Subject: Investor Protection Fund (IPF) of Depositories 1. The Depository System Review Committee (DSRC) had examined various aspects of the depository IPF including utilization and investment policy of IPF and quantum of funds to be transferred to… Read More »

FEM Foreign Exchange Derivative Contracts Regulations 2016

By | June 8, 2016

RESERVE BANK OF INDIA (Financial Markets Regulation Department) (CENTRAL OFFICE) NOTIFICATION Mumbai, the 1st June, 2016 No. FEMA. 365/2016-RB Foreign Exchange Management (Foreign Exchange Derivative Contracts) (Amendment) Regulations, 2016 G.S.R. 571(E).—In exercise of the powers conferred by clause (h) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999),… Read More »

Empanelment – State Bank of Mysore – concurrent audit

By | June 8, 2016

Empanelment of Concurrent Auditors for Concurrent Audit of the Bank’s Branches/Offices. Application are invited from Eligible Chartered Accountant (CA) Firms for Empanelment as Concurrent Auditors for the year 2016-2017. Note : This is not an express or implied offer of engagement for concurrent audit work in the Bank. This is only to create a panel… Read More »

Pay Advance Tax Timely

By | June 8, 2016

Pay Advance Tax on your Income When you have to Pay Advance Tax ? In case your tax liability after reducing the amount of TDS exceeds Rs. 10,000/- in a year, you are liable to pay advance tax. What are Advance Tax Due Dates ? As per Changes made by Finance Act 2016 :- Now Whether… Read More »