Daily Archives: June 24, 2016

Tax benefit of Leave Encasement is available in case of resignation also

By | June 24, 2016

Section 10(10AA) provides the exemption in case of Leave Encasement Whole  of payment received by an employee of the Central Government or a State Government upto Rs 3 Lakh received by an employee, other than an employee of the Central Government or a State Government In this case Hon’ble High Court held that  whether Leave Encasement… Read More »

No Service tax on transportation of goods by vessel from outside India if Invoice issued before 01.06.2016

By | June 24, 2016

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)] GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) NOTIFICATION No. 36/2016-Service Tax New Delhi, the 23rd June, 2016 G.S.R. —(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of… Read More »

Core Settlement Guarantee Fund set up by ICCL notified u/s 10(23EE)

By | June 24, 2016

MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF DIRECT TAXES) (Income-tax) NOTIFICATION New Delhi, the 23rd June, 2016 S.O. 2183(E).—In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notify the Core Settlement Guarantee Fund, set up by Indian Clearing… Read More »

Core Settlement Guarantee Fund set up by NSCCL notified u/s 10(23EE)

By | June 24, 2016

MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) (Income-tax) NOTIFICATION New Delhi, the 23rd June, 2016 S.O. 2184(E).—In exercise of the powers conferred by clause (23EE) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Core Settlement Guarantee Fund set up by National Securities… Read More »

Cost of Material with wages can not exceed 40% under MNREGA

By | June 24, 2016

MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 22nd June, 2016 S.O. 2182(E).—In exercise of the powers conferred by sub-section (1) of section 29 of the Mahatma Gandhi National Rural Employment Guarantee Act, 2005 (42 of 2005) (hereinafter referred to as the said Act), the Central Government, being satisfied that it is necessary and expedient… Read More »

TDS Provisions under Model GST Law : Analysis

By | June 24, 2016

TDS Provisions under Model GST Law Deductor meaning for TDS Provisions under Model GST Law Following are liable to deduct TDS under Sub Section 1 of Section 37 1. a department or establishment of the Central or State Government, or 2. Local authority, or 3. Governmental agencies, or 4. Such persons or category of persons as… Read More »

General Anti Avoidance Rule to apply w.e.f 01.4.2017 in case of income from transfer of investments

By | June 24, 2016

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd June, 2016 INCOME-TAX S.O. 2179(E).—In exercise of the powers conferred by section 101, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend… Read More »

Service of order by registered post without acknowledgement due not valid

By | June 24, 2016

Held The perusal of section 37C(1) of the Act of 1944 reveals mode of dispatch and, at the relevant time, it could have been sent through registered post but with acknowledgement due. There is nothing on record to show that after sending copy of the order through registered post, the acknowledgement due was produced. In… Read More »

Service Charges payable to local civic bodies to be booked under RRT

By | June 24, 2016

Directorate General of Human Resource Development (Expenditure Management Cell) Central Excise & Customs, IRCON Building, West Wing, Ground Floor, Plot No. C-4, District Centre, Saket, New Delhi-110017 F.No. 910/6/Service Charges/HRD/13 Dated: 23.06.2016 To, All the Budgetary Authorities under CBEC. Sir/Madam, Sub: “Service Charges” payable to local civic bodies to be booked under `RRT’ Object Head… Read More »

Put up List of withdrawn cases from CESTA and High Court : CBEC

By | June 24, 2016

F.No.390/Misc./38/2016-JC Ministry of Finance Department of Revenue Central Board of Excise & Customs New Delhi, Dated: 23rd June, 2016 To, All the Principal Chief Commissioners / Chief Commissioners of Customs, Central Excise and Service Tax <cbec@icegate.gov.in> Sub:- Action points arisen out of the Chief Commissioner’s Annual Conference—regarding Sir/Madam, I am directed to invite your kind… Read More »

Reward to informers and Government Servants

By | June 24, 2016

No. 13011/01/2013-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) Circular No.29/2016 Dated: 23rd June, 2016 To 1. All Principal Chief/Chief Commissioners of Customs/Customs (Preventive)/ Central Excise/Service Tax 2. Principal Directors General/Directors General, under CB EC, 3. Chief Commissioner (Authorised Representative-CESTAT) 4. Principal Commissioners/Commissioners of… Read More »

Have you checked your TDS Certificate ?

By | June 24, 2016

TDS certificate Why you need TDS certificates when Form 26AS provides all information One can gather all information related to TDS in Form 26AS which is sufficient to file one’s return. This might make you doubt the importance of TDS certificates but the rationale behind introducing Form 26AS is to enable the taxpayer to cross… Read More »