"May, 2016" Archive - Page 2

Definitive anti-dumping duty on Methyl Acetoacetate

Notification No. 22/2016-Customs (ADD) (31/05/2016)

Seeks to impose definitive anti-dumping duty on “Methyl Acetoacetate”, originating in or exported from USA or China PR, for a period of five years (unless revoked, superseded or amended earlier). GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 22/2016-Customs (ADD) New Delhi, the 31st May, 2016...

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Anti-dumping duty on ‘Dichloromethane (Methylene Chloride)’

Notification No. 21/2016-Customs (ADD) (31/05/2016)

Seeks to impose anti-dumping duty on ‘Dichloromethane (Methylene Chloride)’ of all types [tariff item 2903 12 00], originating in or exported from People’s Republic of China or Russia, for a period of five years (unless revoked, superseded or amended earlier), from the date of imposition of the provisional anti-dumping d...

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Retirement age increased to 65 for Central Govt Doctors

Notification No. G.S.R.567(E) (31/05/2016)

The age of superannuation in respect of General Duty Medical Officers and Specialists included in Teaching, Non-Teaching and Public Health Sub-cadres of Central Health Service shall be sixty-five years....

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Waiver of loan is taxable u/s 28(iv) : Madras HC

CIT Vs Ramaniyam Homes (P.) Ltd. (Madras High Court)

Under one time settlement the bank waived loan amount (used by the assessee for acquiring capital assets) which includes both principal amount of loan and interest on loan. Held that Waiver of loan is taxable under section (‘u/s’) 28(iv) of the Income-tax Act, 1961 (‘the Act’)....

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FAQs : TCS on Motor Vehicle More than Rs.10 Lacs

Finance minister, Mr. Jaitley had proposed to impose a provision for collection of Tax at source at the rate of 1%, in case of Sale of Motor Vehicle and finally it was passed and law amended. Effective date is 1st June, 2016. In this article, I am trying to answer most commonly asked questions on this Amendment....

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Survey funds CSI Airport, Mumbai better than Airports across the world

Asked to rate their experience of Mumbai Customs vis-a-vis other international Airports across the world, 69% rated their experience with Mumbai airport customs as better or somewhat better than other international airports, 15% rated on par and about 16% felt, it was worse....

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Posted Under: Custom Duty |

Restriction on redemption in Mutual Funds

Circular No. SEBI/HO/IMD/DF2/CIR/P/2016/57 (31/05/2016)

Securities and Exchange Board of India Circular SEBI/HO/IMD/DF2/CIR/P/2016/57 May 31, 2016 To All Mutual Funds/Asset Management Companies (AMCs)/ Trustee Companies/Boards of Trustees of Mutual Funds Sir/ Madam, Subject: Restriction on redemption in Mutual Funds 1. Presently, in terms of circular SEBI/IMD/CIR No.5/126096/08 dated May 23, 2...

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LLP form 11 date extended to 30.06.2016 & waiver of late fee

General Circular No. 07/2016 (31/05/2016)

It has been decided to extend the period for which the one time waiver of additional fees is applicable to all eforms which are due for filing by companies between 25.03.2016 to 30.06.2016 as well as extend the last date for filing such documents and availing the benefit of waiver to 10.07.2016...

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Guidance Note on FATCA and CRS as updated on 31.05.2016

For implementation of FATCA and CRS in India, necessary legislative changes have been carried out in the Income-tax Act, 1961 and the Income-tax Rules, 1962 so as to collect and provide relevant information to the foreign tax authorities. ...

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Posted Under: Custom Duty |

Notification No. 78/2016-Customs (N. T.) Dated: 31st May, 2016

Notification No. 78/2016-Customs (N. T.) (31/05/2016)

Government of India Ministry of Finance (Department of Revenue) (Central Board of Excise and Customs) Notification No. 78/2016-CUSTOMS (N. T.) New Delhi, 31st May, 2016 10 Jyaistha, 1938 (SAKA) S.O. … (E).– In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board [&h...

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