"27 May 2016" Archive

Single application for filing claim under MEIS for shipments from different EDI Ports

Public Notice No. 13/2015-2020-DGFT (27/05/2016)

Applicant shall file separate application for each port of export in case of Non EDI Shipping bills. In case of EDI shipping bills, the applicant can file a single application containing shipping bills of different EDI ports. Accordingly shipments from different EDI ports will not require separate applications....

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Allocation of quantity of Black Pepper under Indo-Sri Lanka Free Trade Agreement

Trade Notice No. 7/2016 (27/05/2016)

In terms of Annexure-l to Appendix 2A of FTP 2015-20 read with Public Notice No. 62 dated 25.02.2016, the allocation of 2,500 MTs of Black Pepper for import under the Indo-Sri Lanka Free Trade Agreement for the financial year 2016-17. is attached as Annexure to this Trade Notice....

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CBDT Notifies Equalisation levy Rules, 2016

Notification No. 38/2016-Income Tax (27/05/2016)

Every assessee, who is required to deduct and pay equalisation levy, shall pay the amount of such levy to the credit of the Central Government by remitting it into the Reserve Bank of India or in any branch of the State Bank of India or of any authorised Bank accompanied by an equalisation levy challan....

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CBDT notifies date of Applicability of Equalisation Levy

Notification No. 37/2016-Income Tax (27/05/2016)

n exercise of the powers conferred by sub-section (2) of section 163 of the Finance Act, 2016 (28 of 2016), the Central Government hereby appoints the 1st day of June, 2016 as the date on which Chapter VIII of the said Act shall come into force....

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SEBI (Depositories and Participants) (Third Amendment) Regulations, 2016

Notification No. SEBI/LAD-NRO/GN/2016-17/007 (27/05/2016)

35B. Every depository shall devise and maintain a wind-down plan in accordance with guidelines specified by the Board. Explanation.- For the purpose of this regulation, 'wind-down plan' means a process or plan of action employed, for transfer of the beneficial owner accounts and other operational powers of the depository to an alternative...

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Scheme for Facilitating Start-ups Intellectual Property Protection

Public Notice No. CG/Misc./Facilitator/2016/506 (27/05/2016)

Government of India has recognized government organizations like TIFAC / NRDC / BIRAC/DEITY / DSIR etc. for the purpose of consideration as facilitator for start-ups vide published Scheme for Facilitating Start-ups Intellectual Property Protection (SIPP) document....

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EPFO: Promotion of New MSMEs & Inspection Instruction

Circular No. CAIU/011(34)2016/Circulars/4358 (27/05/2016)

The Inspection Scheme shall take into account the self-certified returns filed by MSMEs - provided the MSME are not more than 3 years old. Roughly 5% of MSME units shall be verified through a random risk based inspection system for compliance. Inspections allotted by Shram Suvidha portal shall ensure this....

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How to furnish details of assets & liabilities in New ITR Form

The ITR (income tax return) forms for the the financial year ended 31st March 2016 have been notified by the government well in time this time. Generally, the forms are on the same lines as that of the previous forms except that the tax payers either an individual or an HUF have to furnish additional details of the assets and liabilities...

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Posted Under: DGFT | ,

54 Reasons for Penalty/Prosecution under Income Tax Act, 1961

IN this Article we have discussed 37 defaults which invites levy of Penalty and 17 offences which are punishable under under the Income Tax Act,1961. Articles further discusses in brief about Penalty & Prosecution Provision in Brief. ...

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Posted Under: DGFT | ,

E-FIle Your Income Tax Return, The Right Action for Peace of Mind

The process of electronically filing Income tax returns through the internet is known as e-Filing. e-Filing of Returns/Forms is mandatory for A. In the case of an Individual/HUF a. Where accounts are required to be audited under section 44AB ;...

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Posted Under: DGFT |

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