Daily Archives: October 19, 2016

Decision on GST rates to be taken next month-GST Council meeting :

By | October 19, 2016

GST: Centre, states put off decision on rate to next month “We have converged towards a consensus, announcement will be made after next GST Council meeting. Two standard rates of 12 per cent and 18 per cent under discussion,” said Jaitley. Union Finance Minister Arun Jaitley on Wednesday said the rate structure for Goods and Services… Read More »

USA- Disciplinary Sanctions from the Office of Professional Responsibility

By | October 19, 2016

Announcement of Disciplinary Sanctions from the Office of Professional Responsibility The Office of Professional Responsibility (OPR) publishes all disciplinary actions in the Internal Revenue Bulletin (IRB). Published sanctions include censure, suspension or disbarment from practice before the Internal Revenue Service.The below listed individuals have recently been disciplined by OPR and are published in IRB Number 2016-38, dated September 19, 2016, on pages… Read More »

Category: USA

Limited Liability Partnership- Law and Practice -Book

By | October 19, 2016

Limited Liability Partnership- Law and Practice, 3E Hardcover – 2016   Limited Liability Partnership- Law and Practice, 3E Hardcover – 2016 A LLP contains features of two long-standing forms of business associations, namely the ‘company’ and the ‘partnership firm’. A LLP, thus, is a hybrid of a company and a partnership. To explore this new… Read More »

USA- Applicable Federal Rates for Nov 2016 -§ 1274.

By | October 19, 2016

 Applicable Federal Rates Revenue Ruling 2016-26 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by § 1274. The rates are published monthly for purposes of… Read More »

Schedule of Periods of Limitation as per Limitation Act 1963

By | October 19, 2016

 LIMITATION ACT, 1963 SCHEDULE PERIODS OF LIMITATION [See sections 2(j) and 3] FIRST DIVISION SUITS   Description of suits Period of limitation Time from which period begins to run   PART I – SUITS RELATING TO ACCOUNTS 1. For the balance due on a mutual, open and current account, where there have been recipro­cal demands… Read More »

Book on Information Technology Act with Commentary, Rules, Orders

By | October 19, 2016

Commentary On Information Technology Act- With Rules, Regulations, Orders, Guidelines, Reports And Policy Documents Commentary On Information Technology Act- With Rules, Regulations, Orders, Guidelines, Reports And Policy Documents The Information Technology Act, 2000 was enacted to give effect to the United Nations General Assembly resolution adopting the Model Law on Electronic Commerce. It was enacted… Read More »

The Indian Penal Code Book

By | October 19, 2016

The Indian Penal Code Book This classic Ratanlal and Dhirajlal’s The Indian Penal Code book, first published in 1896 is a section wise commentary on the Indian Penal Code. The Indian Penal Code This edition has been extensively and meticulously revised taking into account the changes brought about by recent legislative amendments as well as… Read More »

The Law Of Evidence- Book

By | October 19, 2016

The Law Of Evidence The Law Of Evidence The law of evidence plays an indispensable role in the administration of justice. It is only through reliable, relevant and admissible evidence that substantive rights may be established in a court of law. The courts have, over the years painstakingly analysed and interpreted different forms of evidence… Read More »

Juvenile Justice Model Rules 2016

By | October 19, 2016

Juvenile Justice Model Rules 2016 Juvenile Justice Model Rules 2016 are notified on 21.09.2016 by Govt of India as follow :- JUVENILE JUSTICE (CARE AND PROTECTION OF CHILDREN) MODEL RULES, 2016 NOTIFICATION NO. GSR 898(E) [F.NO.1-2/2016-CW-II], DATED 21-9-2016 In exercise of the powers conferred by the proviso to sub-section (1) of section 110 of the… Read More »

Revision of Monetary limits for issuing Service tax notice by officers

By | October 19, 2016

Revision of Monetary limits for issuing Service tax notice by officers Central Government vide Notification No. 44/2016-Service Tax, Dated: September 28, 2016 has amended the adjudication power of officers. The revised limits are as under: S. No. Rank of the Central Excise Officer Amount of service tax of CENVAT credit specified in a notice issued… Read More »

Lok Sabha to meet on 16th November 2016

By | October 19, 2016

LOK SABHA SECRETARIAT NOTIFICATION New Delhi, the 18th October, 2016 No. 37/1/(X)/2016/T.—The following Order by the President dated the 18th October, 2016, is published for general information :— “In exercise of the powers conferred upon me by clause (1) of article 85 of the Constitution, I hereby summon the Lok Sabha to meet at New… Read More »

Reconstitution of Inter-State Council and Standing Committee of Inter-State Council.

By | October 19, 2016

MINISTRY OF HOME AFFAIRS (INTER-STATE COUNCIL SECRETARIAT) NOTIFICATION New Delhi, the 18th October, 2016 Subject : Reconstitution of Inter-State Council G.S.R. 987(E).—In supersession of the Secretariat’s Notification No. 7/1/2014-ISC(Pt.) dated 7th December, 2015, the Prime Minister has approved the following composition of the Inter-State Council in terms of Clause 2 of the Inter-State Council Order,… Read More »

List of Organisation not treated as foreign source under Foreign Contribution (Regulation) Act 2010

By | October 19, 2016

THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF HOME AFFAIRS ORDER New Delhi, the 17th October, 2016 S.O. 3210(E).–In exercise of the powers conferred by section 50 of the Foreign Contribution (Regulation) Act, 2010 (42 of 2010), the Central Government hereby notifies that the international organisations specified below shall not be treated… Read More »

Book- Guide to New ICDS -AY 2017-18

By | October 19, 2016

Book on ICDS – Guide to New Income Computation & Disclosure Standards (Assessment Year 2017-18) This Book on ICDS contains Salient features of ICDS (New Version) notified vide Notification No. S.O. 3079(E), dated 29-9-2016 ,ICDS (New) applicable w.e.f. AY 2017-18 .ICDS applicable to assessees following mercantile system of accounting . This Book Gives answers on How… Read More »

Book on New Income Computation & Disclosure Standards AY 2017-18

By | October 19, 2016

Law & Practice Relating to New Income Computation & Disclosure Standards (Assessment Year 2017-18) Law & Practice Relating to New Income Computation & Disclosure Standards (Assessment Year 2017-18) Assessment Year 2017-18 Paperback: 396 pages Publisher: Taxmann Publications Pvt. Ltd.; Assessment Year 2017-18 edition (2016) Language: English  

Large taxpayer units to be shut down under GST

By | October 19, 2016

After the Planning Commission, yet another UPA government relic is set to fall. Large Taxpayers Units (LTUs) scheme, a dream project of the UPA government, is set to be abolished with the introduction of Goods and Service Tax (GST) regime. CBEC documents on structural changes under GST,  show that the much-hyped single window tax facilitator… Read More »

Category: GST

GST Council discusses four-tier rate structure

By | October 19, 2016

Centre, states agree on compensation formula; cess on cards for ultra-luxury items The GST Council on Tuesday discussed a four-tier rate structure suggested by the Centre and agreed on compensation to loss-incurring states for the first five years of the new tax regime. The Opposition might voice differences with the proposal. The council was apprised of… Read More »

Category: GST

MCA Officers / staff to furnish saving proof for IT Calcuations for FY 2016-17

By | October 19, 2016

No.30011/1/2016-Cash Government of India Ministry of Corporate Affairs ******* Shastri Bhawan, 5th Floor, ‘A’ Wing, New Delhi Dated 13th October, 2016 CIRCULAR Subject:- Income Tax calculations for the financial year 2016-17. Cash Section is in the process of calculation of Income Tax for the financial year 2016-­17. In view of this, all the officers/members of… Read More »

Bill for appearance of Special Public Prosecutors of IT deptt Revised

By | October 19, 2016

F.No. 279/Misc/M-77/2011-ITJ Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ARO Division) New Delhi, the 18th October, 2016 To, All Principal Chief Commissioners of Income Tax. Madam/ Sir, Sub:- Modifications to the Instruction No. 6/2016 for engagement of Special Public Prosecutors (SPPs) to represent the Income Tax Department before Courts… Read More »