Daily Archives: December 2, 2016

Action against bank officials carrying out irregular transactions

Action taken in cases of bank officials involved in carrying out irregular transactions violative of RBI’s instructions post demonetisation of Specific Bank Notes by the Government w.e.f. midnight of 8th November 2016 Pursuant to the decision of the Government to demonetise Specified Bank Notes w.e.f. midnight of 8th November 2016, Banks have done commendable work… Read More »

Steps for Migration of Madhya Pradesh VAT dealers to GSTN portal

Steps for Migration of Madhya Pradesh VAT dealers to GSTN portal State /India GST Material     GST Enrolment Plan State Wise : Announced by Indian Govt Steps to enrol on GST Common Portal (India) How to reduce File Size of scanned documents during GST enrolment process India How to login to GST Common Portal… Read More »

How to reduce File Size of scanned documents during GST enrolment process

Tips to reduce File Size of scanned documents during GST enrolment process State /India GST Material       GST Enrolment Plan State Wise : Announced by Indian Govt   Steps to enrol on GST Common Portal (India) India How to login to GST Common Portal (India)   FAQ on GSTN Migration (English)   GST-Video Tutorial… Read More »

Exemption from fitment of speed governor to certain transport vehicles till 31.01.2017

MINISTRY OF ROAD TRANSPORT AND HIGHWAYS NOTIFICATION New Delhi, the 1st December, 2016 S.O. 3604(E).—In exercise of the powers conferred by clause (a) of sub-section (3) of section 110 of the Motor Vehicles Act, 1988 (59 of 1988), the Central Government hereby exempts the transport vehicles notified by the State Government under sub-rule (2) of… Read More »

Income Exemption u/s 10(46) to Bureau of Indian Standards

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st December, 2016 S.O. 3607(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby notifies for the purposes of the said clause, the Bureau of Indian… Read More »

Taxation of Deposits of Demonetized 500/- and 1000/- Notes-Book

Taxation of Deposits of Demonetized 500/- and 1000/- Notes (November 2016 Edition) Paperback – 2016   Also Incorporating Guide to Taxation Laws (Second Amendment) Bill 2016 [As Passed by Lok Sabha] Guide to Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana 2016 [As passed by Lok Sabha] Pradhan Mantri Garib Kalyan Yojana (PMGKY)… Read More »

No TDS on bank guarantee commission made to bank : ITAT

Issue Disallowance of bank guarantee charges under the provisions of section 40(a)(ia) of the Act for non-deduction of TDS u/s 194H of the Act Held “There is no principal agent relationship between the bank issuing the bank guarantee and the assessee. When bank issues the bank guarantee, on behalf of the assessee, all it does… Read More »

External Commercial Borrowings (ECB) -FAQ’s

External Commercial Borrowings Source : Reserve Bank of India These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The… Read More »