"29 March 2016" Archive - Page 4

Delhi Budget 2016-VAT, Excise / Stamp Duty & Luxury Tax changes

Deputy Chief Minister of Delhi Manish Sisodiya presented the Annual Budget for 2016-17 in Assembly on 28.03.2016 and rationalisesd VAT and Other Duties which may result in reduction in prices of readymade garments, shoes, watches and electric and hybrid vehicles. In this Article we have covered Highlights of Changes related to Taxes/ Dut...

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Extension of e-payment deadline & banking hours

Circular No. 191/01/2016-Service Tax (29/03/2016)

RBI has issued instructions vide notification RBI/2015-16/342 dated March 17, 2016 wherein it has been decided that all agency banks shall keep the counters of their designated branches conducting government business open for full day on March 30, 2016, and till 8.00 p.m. on March 31, 2016. All electronic transactions would, however, cont...

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S.10(46) Govt notifies Maharashtra State Technical Education Board

Notification No. 23/2016-Income Tax (29/03/2016)

(a) fees, fines and penalties; (b) receipts from Printed Educational Material; (c) receipts from Scrap or Waste paper; (d) receipts from other Government Bodies; (e) interest income from surplus funds kept in bank accounts and fixed deposits; (f) rent received from let out of properties; (g) royalty or License fees for providing technical...

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Scrutiny of Section 196(1), 203 & 188 of Companies Act, 2013

Section 203 (1) read with Rule 8 of Companies (Appointment & Remuneration of managerial personnel) Rules, 2014 makes it mandatory for listed companies and public companies having a paid up capital of 10 crore or more to have following whole time key managerial personal –...

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BEPS effect on Finance Bill 2016

The finance bill 2016 has introduced three changes that has originated from the BEPS Action plan. What are these BEPS Action plan recommendations and what has it got to do with our Tax systems and economy?...

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Changes in Company e-Forms wef 27.03.2016

Form 23AC, 23AC-XBRL, 23ACA, 23ACA-XBRL, Form 20B, Form 66, Form 21A and Form 23B eForms should be filed as attachments with GNL-2 from the date of notification (to be notified later....

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Companies Auditor’s Report Order (CARO), 2016 wef 01.04.2015

Order No. S.O. 1228(E) (29/03/2016)

This Order may be called the Companies (Auditor's Report) Order, 2016. - Every report made by the auditor under section 143 of the Companies Act, 2013 on the accounts of every company audited by him, to which this Order applies, for the financial years commencing on or after 1st April, 2015, shall in addition, contain the matters specifie...

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Reg. matters to be included in Audit Report till NFRA formation

S.O.1226(E) (29/03/2016)

until the National Financial Reporting Authority is constituted under section 132, the Central Government may hold consultation required under sub-section 11 of section 143 with the Committee chaired by an officer of the rank of Joint Secretary or equivalent in the Ministry of Corporate Affairs and the Committee shall have the representa...

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Till NFRA formation govt may notify AS recommended by ICAI

S.O. 1227(E) (29/03/2016)

Provided that until the National Financial Reporting Authority is constituted under section 132 of the Companies Act, 2013 (18 of 2013), the Central Government may prescribe the standards of accounting or any addendum thereto, as recommended by the Institute of Chartered Accountants of India, constituted under section 3 of the Chartered A...

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Buy-back may remain open for a period less than 15 days

G.S.R 358(E) (29/03/2016)

Companies (Share Capital and Debentures) Second Amendment Rules, 2016 Provided that where all members of a company agree, the offer for buy-back may remain open for a period less than fifteen days....

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