"14 September 2016" Archive

Corrigendum to Notification No. S.O.2380(E) dated the 12th July 2016

Notification No. 62/2016-Income Tax (14/09/2016)

S.O. 2943(E).-In the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O.2380(E) dated the 12th July 2016, PUBLISHED IN THE Gazette of India, Extraordinary, Part – II, Section 3, sub-section (ii) dated 12th July 2016....

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GST in India: April 2017 May be Challenging

We often hear that Government is working hard to see that it is able to introduce dual GST in country w.e.f. 1st April 2017 and at the same time a caveat that the target is stiff and there may be some time overrun....

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Posted Under: Income Tax | ,

Conditions & Steps for Private Placement: Companies act, 2013

When a company issues shares to a select group of investors, instead of inviting public at large, it is called private placement of shares. It falls neither in the category of a public issue, nor a rights issue. It is a faster way of raising capital, as a company has to comply with fewer requirements....

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Posted Under: Income Tax |

Analysis of IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

Investor Education and Protection Fund Authority (“Authority”) shall manage the IEPF which is credited mainly from unpaid Dividend which remains unpaid or unclaimed for a period of Seven years or more lying in Unpaid Dividend Account of the Company and also all amount payable as mentioned in clause (a) to (n) of subsection (2) of Sect...

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Posted Under: Income Tax |

Concept paper on GST returns

After a long wait for around 16 years now we are certain that this significant tax reform will see lights of the day by April 1 2017 or mid of F.Y 2017-18. First time in the history of taxation reforms a number of documents have been issued by Govt. before actual implementation of law....

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Posted Under: Income Tax |

Real Estate Sector Boon or Bane After GST?

India is on the brink of GST. This is a major tax reform undertaken by the central government and it will be impacting the economy positively. If managed well, it has the potential to add at least 1% of Indias GDP growth. Capping the rate of tax is good. However, if the rate of tax is increased at a later stage then it will prove to be t...

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Posted Under: Income Tax |

Is your financial plan really practical and workable?

Financial planning involves a series of steps followed by an individual or an organization for achieving a financial goal. But the hard fact remains that this process of financial planning is always go with certain hidden or unsuspected danger or difficulty. Therefore it is necessary to have new ideas of financial plan that can overcome t...

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Posted Under: Income Tax |

Levy of Penal Damages on Deposit of EPF contributions through Internet Banking

Instruction No. No: Bkg.1(4)2010/Online Remit./Vol-II (14/09/2016)

With the implementation of internet banking, the date of debit from the employer's account may be taken as date of payment for the purpose of levy of damages by way of penalty. Other issues e.g. delay in credit in EPFO's accounts or delay in transfer of funds for investment by banks may be dealt in accordance with banking agreements with ...

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Master Circular for Mutual Funds updated till 14.09.2016

Master Circular No. SEBI/H0/1MD/DF3/CIR/P/2016/84 (14/09/2016)

This Master Circular includes circulars issued upto September 14, 2016. Master Circular is a compilation of all the existing/applicable circulars issued by Investment Management Department of SEBI to Mutual Funds....

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Guidelines for Issue of Duty Credit Scrips under IEIS Scheme

Trade Notice No. 16/2016 (14/09/2016)

In pursuance of the Trade Notice No.4 dated 05.05.2016, changes in entitlement in the online system for the IEIS Quarterly cases has been incorporated and list of such cases where Supplementary Scrip is to be issued is made available in the Online Application Menu of the Quarterly IBIS Scheme....

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