"06 July 2016" Archive

Investigation related to Anti-Dumping Duties on ‘certain glass fibre

F. No. 15/10/2015-DGAD–1 06/07/2016

Sunset Review investigation relating to Anti-Dumping Duties imposed on imports of ‘certain glass fibre and articles thereof’ originating in or exported from China PR...

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Desirability & feasibility of ‘a new financial year is to be examined

Government today constituted a Committee headed by Dr. Shankar Acharya (former Chief Economic Adviser) to examine the desirability and feasibility of having ‘a new financial year’; The Committee to submit its Report by 31st December, 2016. ...

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Posted Under: Custom Duty |

Sum received for restraining use of ceased Trademark is non taxable capital receipt

Orient Blackswan Private Limited, Hyderabad vs. ACIT (ITAT Hyderabad)

Assessee inter alia contended that the consideration was received as per the settlement agreement and vetted by Tomlin order of the Court of U.K. in consideration of restraining the assessee from the use of the name ‘Longman’ and as such, it is a capital receipt not liable to tax at all....

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ICDS to be applicable from 01.04.2016 instead of 01.04.2015

Income Computation and Disclosure Standards (ICDS) notified under Section 145 (2) of the Income -tax Act, 1961 to be applicable from 1st April, 2016 Vide Notification No. SO 892 (E) dated 31st March, 2015, the Central Government notified 10 Income Computation and Disclosure Standards (ICDS). These ICDS are applicable from 1.4.2015 i.e. pr...

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Posted Under: Custom Duty |

Appointment of ACIT Junior Scale to DCIT Senior Time Scale grade

Notification No. 15 06/07/2016

Notification No. 15 – Appointment of Assistant Commissioners of Income Tax (Junior Scale) to the grade of Deputy Commissioner of Income Tax (Senior Time Scale) – reg. Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) New Delhi Dated: 6th July, 2016 Notification No. 15 The following A...

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CBDT directs officials to not to disclose info received under IDS,2016

Notification No. 56/2016-Income Tax 06/07/2016

Central Government having regard to all the relevant factors, hereby directs that no public servant shall produce before any person or authority any such document or record or any information or computerised data or part thereof as comes into his possession during the discharge of official duties in respect of a valid declaration made und...

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Highlights of Model GST law, 2016

The model GST law has been released on 14th June, 2016. It outlays the basic structure of the CGST act; SGST acts to be based on the structure laid out. The draft of the IGST act has been also released as a part of the Model GST law. The key features of the Model are summarised as under:...

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Posted Under: Custom Duty |

How healthy your personal finance management is?

Like how we take care of our physical health through periodic check-ups, inspecting the financial health from time to time is very important. We tend to look at what we eat, how we keep our lifestyle in order to have a healthy life....

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Posted Under: Custom Duty |

Checklist for Annual General Meeting

Finalize AGM Notice and Annual Report : Notice shall have (complete address, venue, date , hour and agenda of the meeting ). Keep following ready: 1. AGM Notice ( to include attendance slip, Proxy form, Route map, Explanatory statement)...

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Posted Under: Custom Duty |

Startup India-The Status Report

STARTUP INDIA HUB Startup India Hub was operationalised on 1st April 2016 to resolve queries and provide handholding support to Startups. The hub has been able to resolve 12,290 queries received from Startups through telephone, email and Twitter. To seek clarifications pertaining to Certificate of Recognition as a “Startup”, Certifica...

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Posted Under: Custom Duty |

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