Daily Archives: January 6, 2017

Indian Customs Traveller Guide Mobile App for Baggage rules

Indian Customs Traveller Guide Mobile App for Baggage rules Download Indian Customs Traveller Guide Mobile App for Baggage rules for Android User Download Indian Customs Traveller Guide Mobile App for Baggage rules for Apple User Download Indian Customs Traveller Guide Mobile App for Baggage rules for Window User A simplified guide to Baggage rules applicable to passengers travelling by air. This… Read More »

Migration to GST of Excise and Service Tax Assesses – Helpline Number

Communication to the Central Excise/Service Tax Taxpayers on migration to GST GST Helpline Number India CBEC : 1800-1200-232. GSTN: 0124 – 4688999 You can also send us mail at cbecmitra.helpdesk@icegate.gov.in. Dear Central Excise/Service Tax Taxpayers, Greetings from Central Board of Excise and Customs (CBEC). We thank you for your duty/tax payments which have contributed to… Read More »

Guide for GST Enrolment for existing Central Excise & Service Tax Assessees

GST Enrolment for existing Central Excise & Service Tax Assessees All existing Central Excise and Service Tax assessees will be migrated to GST starting 7th January 2017. To migrate to GST, assessees would be provided a Provisional ID and Password by CBEC. Provisional IDs would be issued to only those assessees who have a valid… Read More »

Indian Govt. amends rules for Special Economic Zone

SPECIAL ECONOMIC ZONES (AMENDMENT) RULES, 2016 – SUBSTITUTION OF RULE 5A NOTIFICATION NO. GSR 2(E) [F.NO.C.2/1/2016-SEZ], DATED 26-12-2016 In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely:—… Read More »

No direct investment by Indian Party in overseas entities located in non co-operative countries

No direct investment in overseas entities located in non co-operative countries FEM (TRANSFER OR ISSUE OF ANY FOREIGN SECURITY) (SECOND AMENDMENT) REGULATIONS, 2016 – AMENDMENT IN REGULATION 6 NOTIFICATION NO.FEMA.382/2016-RB/GSR 01(E), DATED 2-1-2017 In exercise of the powers conferred by clause (a) of sub-section (3) of section 6 and sub-section (2) of section 47 of… Read More »

First Advance Estimates of National Income 2016-17 (India)

Press Note : First Advance Estimates of National Income, 2016-17  The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation have released the First Advance estimates of national income at constant (2011-12) and current prices, for the financial year 2016-17. These are presented in Statements 1-4. The First Advance Estimates of GDP have been… Read More »

Hawala racket busts -Rs. 1 Crore foreign currencies seized

Delhi Zonal Unit of the Directorate of Revenue Intelligence (DRI) busts Hawala racket, seizes foreign currencies worth Rs.One Crore at IGI Airport. The Delhi Zonal Unit (DZU) of the Directorate of Revenue Intelligence (DRI),Ministry of Finance  has busted at Hawala racket adopting an ingenious modus operandi of foreign currency smuggling at the IGI airport, New… Read More »

FORM NO. 10BA -Declaration for Claiming Deduction u/s 80GG

FORM NO. 10BA n(See rule 11B) DECLARATION TO BE FILED BY THE ASSESSEE CLAIMING DEDUCTION U/S 80 GG I/We……………………………………………………………………………………………………………………. ( Name of the assessee with permanent account number) do hereby certify that during the previous Year………….I/We had occupied the premise………………………….(full address of the premise) for the purpose of my/our own residence for a period of…………………..months and… Read More »

India and Kazakhstan sign to amend Double Taxation Avoidance Convention

India and Kazakhstan sign Protocol to amend the Double Taxation Avoidance Convention (DTAC) India and Kazakhstan signed here today  in the national capital a Protocol to amend the existing Double Taxation Avoidance Convention (DTAC) between the two countries  which was earlier signed on 9thDecember, 1996 for the avoidance of double taxation and for the prevention… Read More »

TDS on Salary for Financial Year 2016-17 (Assessment Year 2017-18) : CBDT Circular

 TDS on Salary for FY 2016-17 / Financial Year 2016-17 ( Assessment Year 2017-18 ) Following Circular of TDS on Salary for FY 2016-17 issued by CBDT explains how much TDS to be deducted and valuation of perquisites, Allowances etc. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES DEDUCTION… Read More »

Loan to HUF is deemed dividend when shareholder-Karta has substantial interest in HUF

Facts of the Case The assessee is a Hindu Undivided Family (HUF). During the previous year to the Assessment Year, the assessee had received certain advances from one M/s. G.S. Fertilizers (P) Ltd.   In the audit report and annual return for the relevant period, which was filed by it before the Registrar of Companies… Read More »

National toll-free helpline number for GST Queries in India

GST helpline number Software development company KDK Softwares has launched a national toll-free helpline service for resolving GST-related queries. The toll-free helpline number (1800 103 9271) will be available in six languages like English, Hindi, Gujarati, Marathi, Kannada and Malayalam. The helpline service was inaugurated by Rajeev Swarup, Principal Secretary, Small Industries, government of Rajasthan.… Read More »

GST Enrolment Mobile App of GSTN of India

GST Enrolment Mobile App It is to inform that the GST Enrolment Mobile App is available on Google Play and can be downloaded on Android phones. You have to search by using GST Enrolment. Link to Download  GST Enrolment Mobile App GST Enrolment app is an offline utility to enrol an existing State VAT / Central Tax… Read More »

Comments invited on Public Issuance of Non-Convertible Debentures having credit rating below Investment Grade

Views/Suggestions solicited on SEBI Consultative Paper on Public Issuance of Non-Convertible Debentures having credit rating below Investment Grade SEBI has placed the Consultation paper on Public Issuance of Non-Convertible Debentures having credit rating below Investment Grade on its website for public comments. We enclose the Consultative Paper for ready reference and seek your views/suggestions on… Read More »

Exposure Draft of Revised SA 720- The Auditor’s Responsibilities Relating to Other Information

Exposure Draft of Revised SA 720, “The Auditor’s Responsibilities Relating to Other Information” for Comments Scope of this SA 1. This Standard on Auditing (SA) deals with the auditor’s responsibilities relating to other information, whether financial or non-financial information (other than financial statements and the auditor’s report thereon), included in an entity’s annual report. An… Read More »

Exclusively listed companies on Dissemination Board ; Time extended by SEBI

CIRCULAR SEBI/HO/MRD/DSA/CIR/P/2017/5 January 05, 2017 All recognised/Non-operational /Exited Stock Exchanges. All Exclusively Listed Companies in the Dissemination Board (shares of companies available for buying and selling and not for companies referred as vanishing companies.) Dear Sir/Madam, Sub: Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB). 1. SEBI vide circular dated… Read More »

SEBI Guidance Note on Board Evaluation

Guidance Note on Board Evaluation CIRCULAR SEBI/HO/CFD/CMD/CIR/P/2017/004 January 5, 2017 To All listed entities Sir / Madam, Sub: Guidance Note on Board Evaluation 1. The Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”) contain broad provisions on Board Evaluation i.e. evaluation of the performance of: (i) the Board as… Read More »

SEBI Alternative Investment Funds (Amendment) Regulations 2016.

THE GAZETTE OF INDIA EXTRAORDINARY PART – III – SECTION 4 PUBLISHED BY AUTHORITY NEW DELHI, JANUARY 04, 2017 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 4th January, 2017 SECURITIES AND EXCHANGE BOARD OF INDIA (ALTERNATIVE INVESTMENT FUNDS) (AMENDMENT) REGULATIONS, 2016 No. SEBI/LAD/NRO/GN/2016-17/026.– In exercise of the powers conferred by subsection (1) of… Read More »

Anti-dumping duty on import of Jute Products from Bangladesh or Nepal

Seeks to levy definitive anti-dumping duty on import of ‘Jute Products’ viz. Jute Yarn/Twine (multiple folded/cabled and single), Hessian fabric and Jute sacking bags from Bangladesh or Nepal for a period of five years (unless revoked, superseded or amended earlier) [TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]… Read More »

Form 61 and Form 61A – ITDREIN Registration and Upload -User Manual

User Manual : ITDREIN Registration and Upload of Form 61 and Form 61A Version 1.0. Introduction……………………………………………………………………………………………………………………….4 ITDREIN Services ……………………………………………………………………………………………………………..4 Steps to Generate ITDREIN …………………………………………………………………………………5 Steps to Add Authorised Person………………………………………………………………………….6 Steps to Upload Forms………………………………………………………………………………………….8 Steps to View Forms ……………………………………………………………………………………………10. Download Complete User Manual : ITDREIN Registration and Upload of Form 61 and Form 61A Related Post ITDREIN… Read More »

Menu Restructuring on Incometaxindiaefiling.gov.in – Income Tax Website of India

Menu Restructuring on Income Tax India E filing Income tax Return The Functionalities under menus available post login to e-Filing portal are restructured for making better user experience. After restructuring, the functionalities available under “My Account” are explained below: 1. View Form 26AS (Tax Credit ) 2. View e-Filed Returns/Forms: a) e-Filed Returns/Forms b) Form… Read More »

Aadhaar mandatory for Individuals registered under MNREGA : Govt Notification

MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 3rd January, 2017 S.O. 19(E).––Whereas, the use of Aadhaar as identity document for delivery of services or benefits or subsidies simplifies the Government delivery processes, brings in transparency and efficiency, and enables beneficiaries to get their entitlements directly in a convenient and seamless manner and Aadhaar obviates… Read More »

Indian Skill Development Service Rules 2017 Notified

MINISTRY OF SKILL DEVELOPMENT AND ENTREPRENEURSHIP NOTIFICATION New Delhi, the 4th January, 2017 G.S.R. 5(E).—In exercise of the powers conferred by the proviso to article 309 of the Constitution and in Supersession of the Deputy Director General (Group ‘A’) Recruitment Rules, 2002 and the Directorate General of Training (Group ‘A’ Posts) Recruitment Rules, 2011, except… Read More »