"25 July 2016" Archive

Govt notifies effective date of DVAT (Amendment ) Act 2016

Notification No. F.3 (4)/Fin.(Rev.-1)/2016-17/DS-VI/238 (25/07/2016)

In exercise of the powers conferred by sub-section (3) of section 1 of the Delhi Value Added Tax, (Amendment) Act, 2016 (Delhi Act 03 of 2016), the Lieutenant Governor of the National Capital Territory of Delhi, hereby, appoints the 26th July 2016 as the date on which said Act shall come into force...

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CBDT enables view of CIB, AIR & other info of Cases Selected in CASS

CASS - Instruction No. 2 (25/07/2016)

This year in CASS, two types of cases are selected for scrutiny, one is 'Limited Scrutiny' and other is 'Complete Scrutiny'. The type of case - 'Limited' or 'Complete' — is displayed on the notice issued u/s 143(2), 'Scrutiny Register', 'MIS Report' and on the screen showing details of the case....

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Abuse of Dominance under Competition Act, 2002

The Competition Act, 2002, follows philosophy of modern competition laws and aims at fostering competition and at protecting Indian markets against anti­ competitive practices by enterprises. The Act prohibits anti­-competitive agreements, abuse of dominant position by enterprises, and regulates combinations (mergers, amalgamations and ...

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Public procurement under Competition Act, 2002

To sum up, the policy planners, public procurement officials and CCI should work together as a team to deter bid rigging through robust enforcement, increased vigilance, and better designed public procurement programs....

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Jargon – The Professional Slang?

In this article, I have attempted to understand how the organizational environment affects our vocabulary, and the words we doll out. I have also laid a special emphasis on the usage of jargons in the corporate environment, and the paradigm shift we are witnessing....

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IND AS 10 – Events After The Reporting Period

(a) Event occurring after the reporting period are defined as ‘events which occur between the end of the reporting date and the date when the financial statements are approved by the Board of Directors in case of a company’ and ‘by the corresponding authority in case of any other entity’....

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Draft Rules for prescribing amount of share buyback U/s. 115QA

F No 370133/30/201 6-TPL (25/07/2016)

Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percent is levied on the distributed income arising out of buy back of unlisted share by the company. The distributed income was defined to be the consideration paid by the company on buy back of shares as reduced by the amount which was rec...

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Which return form you need to use for filing of your return

Though this is the last month of filing of income tax return for majority of the tax payers but there persists a confusion as to the ITR form which one has to use. Let us now discuss which form is applicable in your case and clear the doubts....

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Dummies / Employees – 4 Amazing tax planning you can’t afford to miss!

Introduction Getting into the day to day work, we never thought what we missed yesterday or what we can plan for tomorrow. We at Hubco.in, always receives queries from budding entrepreneurs and people serving under employment related to Tax planning and from there we get to know that these are the problem of masses. Based […]...

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Central Civil Services (Revised Pay) Rules, 2016

G.S.R. 721(E) (25/07/2016)

Categories of Government servants to whom the rules apply.- Save as otherwise provided by or under these rules, these rules shall apply to persons appointed to civil services and posts in connection with the affairs of the Union whose pay is debitable to the Civil Estimates as also to persons serving in the Indian Audit and Accounts Depar...

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