Follow Us:

Archive: March, 2016

Posts in March, 2016

3.90 Lakh Companies Not filed Annual Return for 2015

March 8, 2016 4972 Views 1 comment Print

However, several companies have not submitted their annual report/return, audited report, balance sheet and details of profit/loss. As per data generated from MCA 21 System, following are the details of companies who have not filed their Balance Sheets and Annual Returns:-

Assessment time cannot be extended if it already becomes time barred: SC

March 8, 2016 4147 Views 0 comment Print

Supreme Court, in State of Punjab Vs. M/s. Shreyans Indus Ltd., has held that power of the Sales Tax Commissioner to extend the time to pass an order on assessment is to be exercised before the normal period of assessment expires.

CBI Registers case against 5 Bank Employees, A CA & 3 others in Rs.1000 Crore Fraud Case

March 8, 2016 7771 Views 0 comment Print

CBI REGISTERS A CASE AGAINST THEN GENERAL MANAGER & FOUR OTHER OFFICIALS OF SYNDICATE BANK AND OTHERS INCLUDING A CHARTERED ACCOUNTANT & THREE PRIVATE PERSONS FOR CAUSING AN ALLEGED LOSS OF RS.1000 CRORE(APPROX) TO BANK The Central Bureau of Investigation has registered a case on a complaint from Syndicate Bank U/s 120-B r/w 409, 420, […]

Anti-dumping duty on Polypropylene for a period of five years

March 8, 2016 4153 Views 0 comment Print

seeks to levy definitive anti-dumping duty on Polypropylene, originating in, or exported from Singapore, for a period of five years GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 7/2016-Customs (ADD)  New Delhi, the 8th March, 2016 G.S.R. 285 (E).- Whereas, the designated authority, vide  notification No. 15/14/2014-DGAD, dated the 28th July, 2014, […]

Anti-dumping duty on Phenol for a period of five years

March 8, 2016 2317 Views 0 comment Print

Seeks to levy definitive anti-dumping duty on Phenol, originating in, or exported from the European Union, Singapore and Korea RP, for a period of five years

Revised timeline for verification of arrear demand U/s. 245 of Income Tax Act, 1961

March 7, 2016 4687 Views 0 comment Print

In cases where that tax payer has contested the demand, CPC would issue a reminder to the assessing officer about the contention of the taxpayer, asking him to either confirm, or make appropriate changes to the demand within thirty days. In case no response is received from the AO within thirty days, CPC would issue the refund without any adjustment. The responsibility of non-adjustment of refund against outstanding arrears, if any, would lie with the assessing officer,

Delhi VAT: Extends due date of filing GE II return to 15.03.2016

March 7, 2016 1414 Views 0 comment Print

Returns in Form GE-II for the first three quarters of the current financial year (i. e. 1st April, 2015 to 30th June, 2015; 1st July, 2015 to 30th September, 2015 and 1st October, 2015 to 31st December, 2015) are required to be filed by 15th March, 2016 an

Issue of Indian Currency Note- Foreign going vessels-Instructions

March 7, 2016 2014 Views 0 comment Print

It has been brought to notice of the Board that revised guidelines issued by RBI has not prescribed any restriction on denomination of Indian currency, carried by an Indian traveller or Captain of a Ship. In the light of the revised RBI guidelines, Board has decided to withdraw the restriction on denomination of Indian currency imposed vide earlier Circular No. 51/1999 dated 12.08.1999.

Clarification on taxability of consortium members

March 7, 2016 4555 Views 0 comment Print

A consortium of contractors is often formed to implement large infrastructure projects, particularly in Engineering, Procurement and Construction (‘EPC’) contracts and Turnkey Projects. The tax authorities, in many cases have taken a position that such a consortium constituted an Association of Persons (‘AOP’) i.e. a separate entity for charging tax.

Fair, Lovely & Ugly From Jaitley’s potli

March 7, 2016 5905 Views 2 comments Print

Krishna, Government has announced Budget on 29th February 2016 for the Year 2016-17. On this Various persons expressed their views. As every coin has two sides, likewise Budget 2016 also came up with some good and some bad changes. Tell us which are the Fair, Lovely and Bad provisions which came out of Jaitley’s potily?

Search Post by Date
July 2026
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031