Daily Archives: December 30, 2016

Download Specified Bank Notes (Cessation of Liabilities) Ordinance 2016

Demonetization ordinance Govt of India has issued Demonetization ordinance  which will be called  :- Specified Bank Notes (Cessation of Liabilities) Ordinance 2016 The President of India has approved the promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 today i.e. on 30th December, 2016. The Ordinance is a follow-up to the decision taken… Read More »

Penalty for not depositing Old Bank Notes – President of India approved Ordinance 2016

The President of India approves the Promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance 2016 today;  The President of India has approved the promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 today i.e. on 30th December, 2016. The Ordinance is a follow-up to the decision taken by the Government of… Read More »

Railways -5% Discount for booking of Retiring Room through digital means

Indian Railways Measures to Promote Digital Payments In pursuance of this announcement made by Government of India for promotion of  Digital & Cashless Economy, Ministry of Railways has initiated some additional following package of incentives and measures. This shall be made effective from 1st January 2017. 1.      Ministry of Railways has decided to instruct Yatri… Read More »

Railways facility of 10% rebate in Basic Fare on Vacant Berth/Seats after chart Preparation

Indian Railways Extends the facility of 10% rebate in Basic Fare on Vacant Berth/Seats after Preparation of First Chart In All Kinds of Trains This Facility will be Available With Effect From 1st January 2017 In continuation with its earlier announcement of providing 10% rebate in the basic fare on the vacant berths/seats after preparation… Read More »

India and Singapore Sign Third Protocol for Amending DTAA

India and Singapore Sign a Third Protocol for Amending the Double Taxation Avoidance Agreement (DTAA) India and Singapore have amended the DTAA for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income, by signing a Third Protocol today. This is in line with India’s treaty policy to prevent… Read More »

Reserve Bank of India -RBI offices in India

The Reserve Bank of India has offices at 31 locations. 1. SRINAGAR Reserve Bank of India, Srinagar office, Amir Manzil, 1-C, Rajbagh, Srinagar(Jammu and Kashmir)190 008 Tel No. 0194-2312685, 2312899 Fax No. 0194- 2454249 2. JAMMU [The Jurisdiction of this RBI office is the State of Jammu & Kashmir ] Rail Head Complex, Jammu –… Read More »

Procedure for claiming Duty Credit Scrips for shipments where LEO date is upto 31.03.2015 but export is on or after 01.04.2015

MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) PUBLIC NOTICE New Delhi, the 29th December, 2016 No. 48/2015-2020 Subject: Procedure for claiming Duty Credit Scrips under Chapter 3 of FTP 2009 -14 for shipments where LEO date is upto 31.03.2015 but date of export is on or after 01.04.2015. F. No. 01/61/180/88/AM16/PC-3.—In exercise of powers… Read More »

Direct Tax Dispute Resolution Scheme 2016 extended up to 31st January 2017

Direct Tax Dispute Resolution Scheme- 2016 extended up to 31st January, 2017 In view of the representations received from various stakeholders and for the convenience of the taxpayers, the last date for availing the Direct Tax Dispute Resolution Scheme, 2016 (the Scheme)  has been extended up to 31st January, 2017. The scheme was to close… Read More »

RBI alowed White Label ATM Operators for Sourcing of cash from retail outlets

RBI/2016-17/202 DPSS.CO.PD. No.1621/02.10.002/2016-17 December 30, 2016 The Chairman and Managing Director / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Authorised ATM Network Operators /Card Payment Network Operators/ White Label ATM Operators Dear Madam/ Sir, White Label ATM Operators (WLAOs)… Read More »

Indian Economy continues to gains during Financial Year 2016-17

During the current Financial Year 2016-17, the Indian Economy continues to consolidate the gains achieved in restoring macro-economic stability; Despite the continuing global sluggishness and recent pick-up in petroleum prices, the macro-economic indicators continue to be robust in the current Year                                                                                                                     Year End Review – 2016 Department of Economic Affairs, Ministry of Finance During… Read More »

Investment pattern for Provident Money revised by Govt of India – Notification

Govt of India has revised the Investment pattern of moneys contributed to a provident fund under Rules 67(2) of Income tax Rules . Read following Notification. ( relevant Extract of Rule 67 are also produced) ] PART XII   RECOGNISED PROVIDENT FUNDS Rule 67 of Income Tax Rules read as under Investment of fund moneys. 67 .… Read More »

Old Bank Notes cannot form part of banks cash balances on 31.12.2016 : RBI

RBI/2016-17/201 DCM (Plg) No.2103/10.27.00/2016-17 December 30, 2016 The Chairman / Managing Director / Chief Executive Officer Public Sector Banks / Private Sector Banks / Foreign Banks / Regional Rural Banks / Urban Co-operative Banks / State Co-operative Banks / District Central Co-op Banks Dear Sir, Closure of the scheme of exchange of Specified Bank Notes… Read More »

Multi-lingual helpdesk number in India for tourists

LAUNCH OF INCREDIBLE INDIA HELPLINE: The Ministry of Tourism has launched the 24×7 Toll Free Multi-Lingual Tourist Helpline in 12 International Languages including Hindi & English on 8.2.2016. This service is available on the toll free number 1800111363 or on a short code 1363 and operational 24×7 (all days) in a year offering a “multi-lingual… Read More »

GST #Issue1-GST Tax Credit of Capital Goods received on or after Appointed Date ?

GST TRANSITIONAL PROVISIONS GST on Input or Input Service During Transit as per Revised Model GST Law, GST Issue Series -1 : Credit of Taxes paid on Capital Goods received on or after Appointed Date ?  There is possibility that capital goods purchased before the appointed day are received by the assessee on or after… Read More »

Law of Notices with Electronic Notices -Book Nov 2016

Law of Notices with Electronic Notices Hardcover – 1 Nov 2016 by Rajesh Gupta (Author) Buy Law of Notices with Electronic Notices Hardcover: 1188 pages Publisher: Universal Law Publishing – An imprint of Lexis Nexis; Third edition (1 November 2016) Language: English This work, besides making a threadbare analysis of technical provisions of law and their… Read More »

How to file Form V – PMGK Deposit Scheme 2016-User Manual

Form V (PMGK Deposit Scheme, 2016) – User Manual Table of Contents Introduction……………………………………………………………………………………………………. Pre-Requisites for Uploading Form V ………………………………………………………………..  Steps to generate ITDREIN for Form V……………………………………………………………. Steps to add Authorised Person …………………………………………………………………………. Steps to Upload Form V ………………………………………………………………………………………… Steps to View Form V……………………………………………………………………………………………. Introduction. As per the Notification No.[F.No.3(1)-W&M/2016] / so 4061, dated 16-12-2016, the… Read More »

Download Form V – Pradhan Mantri Garib Kalyan Deposit Scheme 2016

Download Form V – Pradhan Mantri Garib Kalyan Deposit Scheme, 2016  [ zip file] As per the Notification No.[F.No.3(1)-W&M/2016] / so 4061, dated 16-12-2016, the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 has been notified. The deposits under this Scheme shall be made by any person who intends to declare undisclosed income under sub-section (1) of… Read More »

Date Extended for Direct Tax Dispute Resolution Scheme 2016

Central Government had extended  the date to “31st day of January, 2017” on or before which a person may make a declaration to the designated authority in respect of tax arrear or specified tax under the Direct Tax Dispute Resolution Scheme, 2016 . Earlier the date was 31st day of December, 2016. Read Following Notifications… Read More »