Daily Archives: June 21, 2016

HDFC Bank launches SME e-bank

By | June 21, 2016

HDFC Bank, the country’s second largest private sector lender, has launched a digital bank for its small andmedium enterprises  (SME) customers. It aims to grow its market share in the hinterlands with this. “It takes away the hassle of physical availability of a relationship manager and makes banking process faster. We expect this service to… Read More »

Buy-one-get-one-free deals to come under GST

By | June 21, 2016

The model GST law, unveiled by the government last week for stakeholder comments, says that any supply sans any consideration will attract tax. Free samples and gifts offered with purchases as well as popular ‘buy-one-get-one-free’ deals may attract the proposed Goods and Services Tax (GST) levy which government plans to roll out from April 2017.… Read More »

Category: GST

ICAI website for help on Income Declaration Scheme 2016

By | June 21, 2016

Income Declaration scheme 2016 The Institute of Chartered Accountants of India has started a new website  http://idshelpline.icai.org/ to help on Income Declaration scheme 2016 You can also post your Query on Income Declaration scheme 2016 Related Post Form 1 efiling steps -Income declaration scheme 2016 Form for Declaration under Income Declaration Scheme 2016 Income Declaration Scheme 2016 analysis… Read More »

14 Lakh Antiquities Documented Uploaded on NMMA Website

By | June 21, 2016

14,00,740 Antiquities Documented & Data of 3.15 Lakhs of BH&S and Antiquities Uploaded on NMMA Website  A total of 14,00,740 antiquities have been documented and Data of 3.15 lakhs of Built Heritage & Sites (BH&S) and antiquities has been uploaded on National Mission on Monuments and Antiquities (NMMA) website. NMMA has documented 61,132 antiquities so… Read More »

PPF Withdrawal allowed after 5 years for Medical /Education Purpose

By | June 21, 2016

PPF Withdrawal Govt has allowed PPF Withdrawal under Public Provident Fund Scheme 1968 after completion of 5 years for Treatment of Serious ailments or life threatening disease of the account holder, Spouse, or dependent children or parents on production of supporting documents from competent medical authority Higher Education of the account holder or the minor… Read More »

Download TDS Certificates from Traces within due Date

By | June 21, 2016

TDS Certificates It is mandatory for all deductors to issue TDS certificates after generating and downloading the same from “TDS Reconciliation Analysis and Correction Enabling System” or (https://www.tdscpc.gov.in) (hereinafter called TRACES Portal). Penalty for not issuing TDS Certificates downloaded from Traces within Due Date Failure to comply with the provisions of the Act will attract… Read More »

Foreign Currency received without RBI approval to be confiscated : Supreme Court

By | June 21, 2016

SUPREME COURT OF INDIA Jatin C. Jhaveri v. Union of India T.S. THAKUR, CJI. AND UDAY UMESH LALIT, J. CIVIL APPEAL NOS. 11127 TO 11131 OF 2011 MAY  13, 2016 Ramesh P. Bhatt, K. Radha Krishnan, Sr. Advs., Bhargava V. Desai, B. Krishna Prasad, S. Ratin Rai, S.W.A. Quadriand B.K. Prasad, Advs. for the Appearing… Read More »

Tax Audit limit of Rs 2 Crore apply only to presumptive taxation scheme

By | June 21, 2016

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, the 20th June, 2016 Sub: Threshold Limit of tax audit under section 44AB and section 44AD – clarification regarding Section 44AB of the Income-tax Act (‘the Act’) makes it obligatory for every person carrying on business to… Read More »

Non furnishing of return in case of Foreign Contribution , Officer competent to Compound

By | June 21, 2016

MINISTRY OF HOME AFFAIRS NOTIFICATION New Delhi, the 16th June, 2016 S.O. 2133(E).—In exercise of the powers conferred by sub-section (1) of Section 41 read with section 35 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010) and rule 17 of the Foreign Contribution (Regulation) Rules, 2011 and in supersession of the notification of… Read More »

Reduction in Port Charges for Coastal Ro-Ro Service by Mumbai Port

By | June 21, 2016

Mumbai Port Announces Reduction in Port Charges for Coastal Ro-Ro Service In order to encourage the coastal movement of cargo specially automobiles by Ro-Ro ships and to meet the demand of the Auto Original Equipment Manufacture and Ro-Ro vessels operators, Mumbai Port Trust has reduced vessel related charges by about 10% on the applicable Scale… Read More »

Indian Economic Service/Indian Statistical Service Examination 2016

By | June 21, 2016

Indian Economic Service/Indian Statistical Service Examination 2016   On the basis of the result of the written part of the Indian Economic Service/Indian Statistical Service Examination 2016 held by the U.P.S.C. in May, 2016, the candidates with the under mentioned Roll Numbers have qualified for Interview/Personality Test. The candidature of all these candidates who have qualified… Read More »

No Fee for MSME Registration

By | June 21, 2016

No Fee for MSME Registration Ministry of MSME has clarified today, that Udyog Aadhar Memorandum is the only form of registration for MSMEs in India and there is no fee for the registration. This has been clarified in view of some complaints received by the ministry, regarding fee charged by certain agencies for facilitating the… Read More »

Specific Relief Act 1963 , Expert Committee submits report

By | June 21, 2016

The Expert Committee set on examining Specific Relief Act, 1963 submits its Report to Union Law & Justice Minister Recommends modifications for ensuring ease of doing business The Expert Committee  set on  examining   the Specific Relief Act, 1963  today Submitted  its Report To Union Law & Justice Minister  Shri D.V.Sadananda Gowda here in New Delhi.… Read More »

Interest Rates for Small Savings Schemes for 2nd Quarter FY 2016-17

By | June 21, 2016

Quarterly Revision of Interest Rates for Small Savings Schemes On the basis of the decision of the Government, interest rates for small savings schemes are to be notified on quarterly basis. Accordingly, the rates of interest on various small savings schemes for the second quarter of financial year 2016-17, on the basis of the interest… Read More »

100% FDI in E commerce, Defence, Aviation allowed

By | June 21, 2016

Major impetus to job creation and infrastructure: Radical changes in FDI policy regime; Most sectors on automatic route for FDI 20.06.2016 The Union Government has radically liberalized the FDI regime today, with the objective of providing major impetus to employment and job creation in India. The decision was taken at a high-level meeting chaired by… Read More »