Daily Archives: November 10, 2016

Annex 5 Cash deposit- Download /Print

Cash deposit Annex 5 Download /Print for new bank notes Rs 500 and Rs 1000 Bank Notes of aggregate value upto Rs. 4000 only held by a person can be exchanged by him/her at any bank branch or Issue Office of Reserve Bank of India for any other denomination of Banknotes, provided a Requisition Slip… Read More »

Petitions in Supreme Court against banning of notes

Petitions in SC against banning of notes Two petitions have been filed in the Supreme Court of India challenging the decision of the Central government to de-monetize 500 and 1000 notes. Both the petitioners are practising lawyers – one is an Advocate-on-Record at the Supreme Court, Vivek Narayan Sharma and the other is advocate Sangam… Read More »

Revised Schedule I and Schedule II of State Levies Rebate Rate on Garments Export

SCHEME FOR REBATE OF STATE LEVIES ON EXPORT OF GARMENTS MINISTRY OF TEXTILES NOTIFICATION New Delhi, the 4th November, 2016 SCHEME FOR REBATE OF STATE LEVIES ON EXPORT OF GARMENTS F.No.12020/03/2016-IT.—In supersession of Ministry of Textiles Notification No.12020/03/2016-IT dated 13th August, 2016 regarding Scheme for Rebate of State Levies on Export of Garments, except as… Read More »

Revised rates on garment exports under ROSL Scheme applicable to exports with Let Export Order dates from 15.11.2016 onwards

Circular No. 51/2016-Customs F.No.609/75/2016-DBK Government of India Ministry of Finance, Department of Revenue Central Board of Excise and Customs Drawback Division New Delhi, dated 09 November, 2016 To All Pr. Chief Commissioners / Pr. Directors Generals of CBEC, All Chief Commissioners / Directors General of CBEC, All Pr. Commissioners / Commissioners of CBEC, Director General… Read More »

Section 115BA of Income Tax Act

Section 115BA of Income Tax Act Section 115BA of Income Tax Act was inserted by Section – 51 of Finance Acts – 2016 . Relevant Extract are as follow Insertion of new section 115BA. 51. After section 115B of the Income-tax Act, with effect from the 1st day of April, 2017, the following section shall… Read More »

Depreciation upto only 40% allowed to domestic company u/s 115BA

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 103/2016 New Delhi, the 7th November, 2016 Income Tax S.O. 3399(E).-In exercise of the powers conferred by section 32, section 115BA and section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following… Read More »

Cash Deposit in Bank- Take care of Income Tax Provisions of India

Cash Deposit in Bank- Take care of Income Tax Provisions of India As the Government has declared that currency notes of Rs. 500 and Rs. 1,000 denominations will not be valid from midnight of November 8, 2016, citizens will have to surrender the old notes at any branch of a bank or post office. Citizens… Read More »

Protocol Amending DTAA between India and Japan comes into force

Protocol amending the Double Taxation Amending Convention (DTAC) between India and Japan comes into force; Protocol amending the DTAC aims to promote transparency and cooperation between the two countries. A Protocol amending the Double Taxation Avoidance Convention (DTAC) between India and Japan for the Avoidance of Double Taxation and the Prevention of Fiscal evasion with… Read More »

Foreign tourist /passengers can Exchange Rs 500 /1000 Note at airports upto Rs 5000

Withdrawal of the legal tender character of the existing and any older series banknotes in the denominations of ₹ 500 and ₹ 1000 RBI/2016-17/113 A.P. (DIR Series) Circular No. 16 November 09, 2016 To All Authorised Persons Madam / Sir, Withdrawal of the legal tender character of the existing and any older series banknotes in… Read More »

Download Slip for Exchange of Notes Rs 500 and Rs 1000

 Requisition Slip / Request Slip for exchange of Old High Denomination Bank Notes in denominations of Rs 500/- and Rs 1000/- Rs 500 and Rs 1000 Bank Notes of aggregate value upto Rs. 4000 only held by a person can be exchanged by him/her at any bank branch or Issue Office of Reserve Bank of… Read More »