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As you all are kindly aware. the Income Declaration Scheme-2016 has been launched w.e.f. June, 2016. This scheme provides offers a unique opportunity to persons who are willing to declare any undisclosed income under the scheme with its attended benefits. The Department has embarked upon a comprehensive publicity plan for creating awareness about this scheme amongst the citizen all over the country.
Banks shall however, continue to obtain and keep on their records a certificate from statutory auditors and an external legal opinion in terms of paragraphs 2.5 and 3.1(v) of Annex 16 of the Master Circular on Basel III Capital Regulations dated July 1, 2015.
S.O. 2185(E).-In the notification of the Government of India in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number 46/2016, dated the 17th June, 2016, published vide number S.O. 2142 (E), dated the 17th June, 2016,at page 2, in line 5, for to section 115TC read below section 115TCA
In exercise of the powers conferred by clause (23EE) of section 10 of Income-tax Act, 1961, Central Government hereby notifies Core Settlement Guarantee Fund set up by National Securities Clearing Corporation Limited (NSCCL), Mumbai, a recognised clearing corporation, for the purposes of the said clause for the assessment year 2016-17 and subsequent assessment years.
CBDT notifies Core Settlement Guarantee Fund, set up by Indian Clearing Corporation Limited (ICCL), Mumbai for the purpose of clause (23EE) of section 10 of the Income-tax Act, 1961
CBEC hereby makes the following amendments in the Notification of the Central Board of Excise and Customs No. 87/2016-CUSTOMS (N.T.), dated 16th June, 2016, with effect from 24th June, 2016, namely:-
Model GST Laws: The Government of India has released a Model GST Law in Public Domain. We are sharing an important and path breaking analysis of Model GST Law. We have tried to analyze the GST law in brief and hope the same will be helpful to readers. We have tried to do the same […]
In this article, author attempts to highlight the basic concept of foreign currency translation and its impact on financial statement as per FASB 52. Please note this article is for giving the overview of its basic concept and it is not the exhaustive view for taking any opinion.
Seeks to exempt service tax on taxable services by way of transportation of goods by a vessel from outside India upto customs station in India with respect to which the invoice for the service has been issued on or before 31st May, 2016 subject to the condition of production of customs certified copy of the import manifest or import report required to be delivered under section 30 of the Customs Act, 1962.
Central Government, hereby exempts taxable services with respect to which the invoice for the service has been issued on or before the 31st May, 2016, from the whole of Krishi Kalyan Cess leviable thereon, subject to condition that the provision of service has been completed on or before the 31st May, 2016.
