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Archive: May, 2016

Posts in May, 2016

Maharashtra VAT: Authority to Grant Administrative Relief

May 6, 2016 6892 Views 0 comment Print

Administrative Relief under the Bombay Sales Tax Act, 1959 (BST Act) on account of the delay in obtaining the Certificate of Registration was being granted by the Joint Commissioner of the respective Administrative Division. This relief was being granted in view of the Government Resolution Finance Department No.STA­1082/244/RES-8 dated the 1st June 1983.

Maharashtra Profession Tax Enrolment Amnesty Scheme 2016

May 6, 2016 14419 Views 0 comment Print

The Maharashtra State Tax on Professions, Trades, Callings and Employments Act, 1975 (Profession lax Act) is being implemented with effect from 1st April 1975. Under this Act, every self-employed person engaged in any profession, trade, callings and employment in the State of Maharashtra is required to obtain Enrolment Certificate and pay Profession Tax yearly as per provisions of the Act.

PT Return- Exemption of late fee to Govt aided educational institutions

May 6, 2016 4798 Views 0 comment Print

Every employer, who is registered under this Act is required to furnish an electronic return of Profession Tax (PT) in Form III-B on department’s web-site www.mahaahavat.gov.in before due date of such return {sec. 6 and rule 11]. Electronic returns (e-returns) have been made mandatory for the periods starting from 1st April 2006 onwards by the notification No. VAT/AMD. 1010/1B/ PT/Adni 6 dated 14th July 2011.

Offshore Tax Evasion and Government initiatives

May 6, 2016 1201 Views 0 comment Print

While there are impediments in obtaining information relating to undisclosed assets stashed away abroad, pursuant to various initiatives taken by the Government, the flow of information has improved leading to better enforcement action. The Government has taken several measures to effectively deal with the issue of black money.

Committee notification under Rule 10VA(4) of Income-Tax Rules

May 6, 2016 979 Views 0 comment Print

In exercise of the powers conferred by sub-rule (4) of Rule 10VA of the Income-Tax Rules; 1962, read with section 9A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby notifies the following Committee for the purposes of the said sub-rule:‑

Assignment of Radio-Frequency Spectrum – New Declared Service

May 6, 2016 4060 Views 0 comment Print

Finance Bill, 2016 has introduced clause (j) as one of the declared services. Accordingly ‘assignment by the Government of the right to use the radio-frequency spectrum and subsequent transfers thereof’ has been declared as a service w.e.f. enactment of Finance Act, 2016.

Vacancy for Equity Research Analyst

May 6, 2016 4222 Views 0 comment Print

Vacancy for Equity Research Analyst with a Leading Company for CA, CFA, MBA / PGDM  having such experience. Job Description – Financial analysis of Indian listed stocks entailing: . Write research reports . Creation of financial model (in MS Excel) to forecast key company financial metrics, PER, EPS, NPAT, etc. . Monitor the stock for […]

Invitation to CA's as faculties, coordinators and paper writers

May 6, 2016 4504 Views 0 comment Print

ICAI Committee invites proposals from Chartered Accountants from Industry/ Profession as well as from Capital Market experts, Faculty members/Experts from IIM’s, XLRI, NIBM, MDI, Premier Universities , Public & Private Sector Banks/ Financial Institutions, Mutual Funds, ICRA, SIDBI, PE Funds, reputed academicians – Professors and Lecturers having expert knowledge in the subject as Faculties, Writers, Paper Setters/Evaluators And Coordinators who can contribute in the following way:

Video on delayed payment interest rate & limitation period increase

May 6, 2016 10150 Views 2 comments Print

Vide Union Budget, 2016, Interest rates on delayed payment of duty/ taxes across all indirect taxes is proposed to be made uniform at 15% per annum, except in case of Service tax collected but not deposited with the Central Government, in which case the rate of interest will be 24% per annum from the date on which the Service tax payment becomes due.

Delhi VAT: Change in Rate of VAT in Diesel

May 6, 2016 2446 Views 0 comment Print

he Lt. Governor of the National Capital Territory of Delhi, hereby, makes the following amendments in the Fourth Schedule appended to the said Act, namely: -Diesel (High Speed Diesel; Super Light Diesel Oil, Light Diesel Oil). 16.75 paise in the rupee

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