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Archive: 19 August 2016

Posts in 19 August 2016

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6435 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Govt notifies 12 Provisions of Insolvency and Bankruptcy Code, 2016

August 19, 2016 1778 Views 0 comment Print

S.O. 2746(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 19th August, 2016 as the date on which the provisions of following sections of the said Code shall come into force:—

Anti-dumping duty on 1-Phenyl-3-Methyl-5-Pyrazolone till 23.08.2017

August 19, 2016 809 Views 0 comment Print

Seeks to extend the levy of anti-dumping duty on imports of 1-Phenyl-3-Methyl-5-Pyrazolone originating in, or exported from, People s Republic of China, (imposed vide notification No. 80/2011-Customs, dated the 24th August, 2011) for a period of one year i.e. upto and inclusive of the 23rd August, 2017 Government of India Ministry of Finance (Department of […]

Anti-dumping duty on imports of Caustic Soda till 22.08.2017

August 19, 2016 1001 Views 0 comment Print

Seeks to extend the levy of anti-dumping duty on imports of Caustic Soda, originating in, or exported from Chinese Taipei (imposed vide notification No.79/2011-Customs, dated the 23rd August, 2011) for a period of one year i.e. upto and inclusive of the 22nd August, 2017

IDS 2016 and its impact on Penny Stock or Unquoted Shares

August 19, 2016 14216 Views 0 comment Print

If declaration is made in respect of any investment in shares and subsequently such shares were sold then capital gain is to be calculated and tax to be paid on the difference between the sale considerations and fair market value such assets ( i:e the date of determination of fair market value for the purpose of the scheme).

Right Issue under Companies Act,2013

August 19, 2016 18827 Views 0 comment Print

Right Issue-{Section 62 (1) (a) of Companies Act, 2013}- 1) A Company can issue equity shares to its existing shareholders in proportion to the paid-up capital of the Company by sending offer letter to them.

E-filed exemption forms 10A and 10G time barring on 31.08.2016

August 19, 2016 7199 Views 1 comment Print

The e-filed forms 10A and 10G filed during the period 01.02.2016 to 29.02.2016, the orders in respect of which will get barred by limitation on 31.08.2016, have been e­ mailed to the concerned Principal Commissioner of Income Tax (Exemption)/ CIT (Exemption) on their official designation based e-mail addresses in PDF files

Modification of Client Codes post Execution of Trades on Commodity Derivatives Exchanges

August 19, 2016 2111 Views 1 comment Print

(i) Classification of genuine errors: The following shall be classified as genuine errors for the purpose of client code modification:- a. Error due to communication and / or punching or typing such that the original client code / name and the modified client code / name are similar to each other. b. Modification within relatives (‘Relative’ for this purpose would mean as defined under Companies Act, 2013)

Deduction U/s 35AC available only up to previous year ending 31-03-2017

August 19, 2016 14416 Views 9 comments Print

Section 35AC of the Income Tax Act, as amended by the Finance Act, 2016, provides that no deduction under this section shall be allowed in respect of any assessment year commencing on or after 1st April, 2018. Accordingly, the benefit of deduction under section 35AC of the I.T. Act is available only up to previous year ending 31-03-2017 (Assessment Year 201 7-18) in respect of payments made to association or institution already approved by the National Committee for carrying out any eligible project or scheme.

Release of Version 2.0 of Income Tax Return Statistics for A.Y. 2012-13

August 19, 2016 1864 Views 0 comment Print

A new version of the income distribution data for AY 2012-13 has now been placed in public domain and is available at www.incometaxindia.gov.in. Version 2.0 of the tax return data includes additional tables containing distribution of gross total income in respect of different types of taxpayers e.g. individuals, HUF, firms, companies, association of persons, etc.

How to get most out of idle money in your savings account?

August 19, 2016 12131 Views 5 comments Print

Almost everyone has a tendency to save some excess money in his or her bank accounts, to use the same for any unplanned expenses in future, or during any unexpected situations, or even sometimes just as a factor of comfort.

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