Under the existing regime for recovery of demand, Assessing Officers insist upon collecting disputed demands even when they are in appeal. The situation is aggravated in years when the revenue collection targets are ambitious. In practice, this is leading to serious hardship to the taxpayer particularly in cases where there is high-pitched assessment. Experience has shown that generally an application under section 220(6) for not treating the assessee as being in default is routinely rejected.
Trade Notice No. 15/2015- To reduce the number of mandatory documents required for exports and imports, DGFT had issued Notification No 114 dated 12th March 2015 specifying that only three documents each would be mandatory for exports and imports.
Notification No. 33/2015-2020 Import of Natural Rubber will not be allowed during the period 21st January 2016 to 31st March 2016 under Advance Authorisations to be issued or revalidated on or after 21st January, 2016.
With nearly 65% of the personal income-tax collection in India being raised through tax deducted at source (TDS), the onerous task of which has been cast on tax deductors, the TDS provisions need to be made more tax friendly and not as ‘tedious’ as they have remained over the years.
No.SEBI/LAD-NRO/GN/2015-16/032. -In exercise of the powers conferred by Section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with Section 25 of the Depositories Act, 1996 (22 of 1996), the Board hereby makes the following Regulations to further amend the Securities and Exchange Board of India (Depositories and Participants) Regulations, 1996, namely:-
No. SEBI/LAD-NRO/GN/2015-16/031.─ In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, namely:-
Circular No. SEBI/HO/CFD/DIL/CIR/P/2016/26 Stock exchange(s) may validate the electronic bid details with depository’s records for DP ID, Client ID and PAN, at periodic intervals throughout the bidding day during the bidding period and bring the inconsistencies to the notice of intermediaries concerned, for rectification and re-submission within the time specified by stock exchange.
Notification No. G.S.R. 101(E) (1) These rules may be called the Customs, Excise & Service Tax Appellate Tribunal (Procedure for Appointment as President) Rules, 2016.
Securities Exchange Board of India (SEBI) notified on 2nd September, 2015 the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The regulations have thus been structured to provide ease of reference by consolidating into one single document across various types of securities listed on stock exchanges.
G.S.R. 100(E) (1) These rules may be called the Authority for Advance Rulings (Procedure for Appointment as Chairman and Vice-Chairman) Rules, 2016
