"February, 2016" Archive - Page 53

Signing of bilateral Advance Pricing Agreements with United Kingdom

The Central Board of Direct Taxes (CBDT) has entered into two bilateral Advance Pricing Agreements (APAs) with United Kingdom on 29th January, 2016. With this signing, CBDT has concluded three bilateral APAs the first one being a bilateral APA signed with Japan in December, 2014....

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Posted Under: Income Tax |

ICAI President's Message – February 2016

Dear Friends, I started my journey in the active service of profession in the year 1991 as an office bearer of Indore Branch of CIRC of ICAI. I am happy that after 24 years, the profession gave me the opportunity to serve as the 63rd President of the ICAI, in the year 2015. Earlier, I […]...

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Posted Under: Income Tax |

CAASB seeks comments on – Cost Auditing and Assurance Standards Board releases Exposure Draft of Standard on Cost Auditing

Request for Comments Cost Auditing and Assurance Standards Board (CAASB), the standard-setting body of the Institute, has approved the release of Exposure Draft of Standard on Cost Auditing (ED SCA) ‘The Cost Auditor’s Responses to Assessed Risks’ in its 25th meeting held on 18th January 2016. The exposure draft is hosted on...

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Posted Under: Income Tax |

Two Years RI to Then Assistant Commissioner of Central Excise & Customs in DA Case

Additional Special Judge for CBI Cases, Chennai has convicted Shri Balaji Rao, then Assistant Commissioner of Central Excise & Customs and his son Shri Arthanarishwar Rao in a Disproportionate Assets case. Shri M.Balaji Rao was sentenced to undergo two years Rigorous Imprisonment while his son Shri Arthanarishwar Rao to undergo one year R...

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Posted Under: Income Tax |

Physical filing of forms ARF, FCGPR and FC-TRS to discontinue from February 8, 2016

RBI/2015-16/303 A.P. (DIR Series) Circular No. 40 (01/02/2016)

A.P. (DIR Series) Circular No. 40 Foreign Direct Investment –Reporting under FDI Scheme, Mandatory filing of form ARF, FCGPR and FCTRS on e-Biz platform and discontinuation of physical filing from February 8, 2016...

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CENVAT Credit (First Amendment) Rules, 2016

Notification No. 01/2016-Central Excise (N.T.) (01/02/2016)

Notification No. 01/2016-Central Excise (N.T.) In exercise of the powers conferred by Section 37 of the Central Excise Act, 1944 (1 of 1944), the Central Government hereby makes the following rules further to amend the CENVAT Credit Rules, 2004, namely:-...

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Rate of exchange of conversion of foreign currency wef 02.02.2016

Notification No. 17/2016-Customs (N.T.) (01/02/2016)

Notification No. 17/2016 - Customs (N.T.) In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Excise and Customs hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No.14/2016-CUSTOMS (N.T.), dated 21st January, 2016, with effect fro...

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