Press Information Bureau Government of India Ministry of Corporate Affairs 03-May-2016 17:48 IST CSR Spends on Swachh Bharat CESS As per Union Budget 2016-2017, the estimated amount to be collected from Swachh Bharat Cess during the year 2016-17 is Rs. 10,000 crores. However, there is no proposal of the Government to mandate Corporates to set […]
CBDT has Vide notification no. 30/2016 dated 29-04-2016 extended Due date for payment of TDS on transfer of immovable property u/s 194IA to 30 days from existing 7 days. Section 194IA requires buyer of the Property to deduct 1% TDS while making payment to seller if consideration of the Property exceeds 50 Lakh Rupees.
The Central Government vide Notification No. 21/2016-ST dated March 30, 2016, has amended Rule 7 of the Point of Taxation Rules, 2011 (the POTR) by inserting a proviso after the second proviso, in order to provide Point of Taxation (POT), where there is change in the liability or extent of liability of Service tax to be paid by Service Receiver under Reverse Charge in case service has been provided and the invoice issued before the date of such change, but payment has not been made as on such date, as follows
CBDT has vide Notification No. 30/2016 dated 29.04.2016 has inserted sub-rule Rule 3A and 3B and amended Sub Rule- 3 & 4 of Income Tax Rule-37CA related to Time and mode of payment to Government account of tax collected at source under section 206C. Revised Provisions related to payment of TCS and its mode wef 01.06.2016 are as follows :-
This article throws light on the situation pertaining to the aspect of employee retention for basic start up business and businesses which are already established. Promoters today have huge cost of retention and gone are those days when people stay for 30-40 years in a company i.e from their young 20’s to their super annuation 60
The term aggregator implies that there should be a web-based software application and a communication device to connect potential customers with the service providers to provide services under the brand name/trade name of the person owning the software application.
The time for filing the income tax return for FY 2015-16/AY16-17 is here. In this situation, following are some important points that every individual must know for filing income tax return this year.
List of services, payments for which are received in Rupee terms and which can be counted towards discharge of Export obligation under the EPCG Scheme, is notified. Appendix 3E shall not be applicable for EPCG scheme.
A new Appendix 5D is being notified containing list of services, payments for which are received in Rupee terms and which are to be counted for fulfilment of Export Obligation under EPCG scheme.
Several complaints are being received regarding delay in disbursal of rewards to informers. The matter was discussed in the last Conference of Chief Commissioners of Customs/Directors General, held in January 2016 wherein, it was decided to inter-alia put in place a suitable mechanism in the field formations to monitor cases becoming ripe for disbursal of reward.
