"May, 2016" Archive - Page 30

Industries (Development and Regulation) Amendment Act, 2016

No. 27 of 2016 (14/05/2016)

29E. Notwithstanding anything contained in any judgment, decree or order of any court, tribunal or other authority, any power exercised, or action taken or done or purported to have been taken or done, by the Central Government or, as the case may be, the State Government, shall be deemed to be...

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Sec. 40 (a)(i) is discriminatory & not applicable to Indo-US DTAA

CIT Vs Herbalife International India Pvt. Ltd (Delhi High Court)

Section 40 (a) (i), in providing for disallowance of a payment made to a non-resident if TDS is not deducted, is no doubt meant to be a deterrent in order to compel the resident payer to deduct TDS while making the payment....

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50 FAQs on Indirect Tax Advance Ruling Scheme

Q.1.What is the scheme of advance rulings? Ans. 1. Appreciating the need for foreign investors to be assured in advance of their likely indirect tax liability, the Central Government has set up an Authority for Advance Rulings (Central Excise, Customs and Service Tax) to provide binding ruling on important issues so that intending investo...

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Posted Under: Corporate Law |

Download Finance Act, 2016 as assented by President

No. 28 of 2016 (14/05/2016)

The Finance Bill was presented in the Lok Sabha on February 29, 2016. On May 5, 2016, the Lok Sabha passed the Finance Bill, 2016 and later on it was approved by the Rajya Sabha. The Finance Bill, 2016 received the presidential assent on May 14, 2016. Now it becomes the Finance Act, 2016 (No. […]...

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Income Declaration Scheme 2016 to open from 01.06.2016

NA (14/05/2016)

The Income Declaration Scheme, 2016 shall remain in force for a period of 4 months from 1st June, 2016 to 30th September, 2016 for filing of declarations and payments towards taxes, surcharge & penalty must be made latest by 30th November, 2016. Declarations can be filed online or with the jurisdictional Pr. Commissioners of Income-tax ac...

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Section 94-A(1) is Constitutional Valid : Madras High Court

T. Rajkumar & Others Vs UOI & Ors. (Madras High Court)

The Hon'ble Madras High court in the above cited case held that central govt can notify a country as notified jurisdictional area u/s 94A inspite of the fact that there exist a Double Tax Avoidance Agreement provided the DTAA is not serving the intended purpose for which it was entered into. ...

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India’s GDP Growth Will be 8% in 2016-17

India is expected to remain the fastest growing large economy of the world. It is likely to register a GDP growth of around 8% in 2016-17, thanks to the expected normal monsoons, positive global investor sentiments, high FDI inflows, and low interest rates...

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Posted Under: Corporate Law |

Plasticulture can play an important role in judicious usage of water

Right usage of water is becoming increasingly important given the fact that India currently supports nearly 17.84% of the world population, with 2.4% land and 4% of water resources. At the same time, monsoons are also becoming erratic. ...

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Posted Under: Corporate Law |

Anti-dumping duty on Digital Versatile Discs-Recordable (DVD-R)

Notification No. 17/2016-Customs (ADD) (13/05/2016)

Govt had initiated a review in the matter of continuation of anti dumping duty on imports of Digital Versatile Discs-Recordable (DVD-R) originating in, or exported from, Vietnam and Thailand imposed vide notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 98/2010- Customs, dated the 28th Septemb...

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Budget session concludes; GST Bill likely next session; 1,175 outdated laws repealed

Budget session concludes ; Session productive, says Minister Shri M.A.Naqvi. Government’s outreach to opposition resulting in better functioning of Parliament, says Minister. Sittings of Parliament and Bills passed by Lok Sabha over last 2 years increased. Over a dozen reform Bills passed in 2 years and Parliament needs to do more to pu...

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Posted Under: Corporate Law |

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