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Archive: 23 September 2016

Posts in 23 September 2016

A Practitioner’s guide for a start-upon Private Placement

September 23, 2016 2668 Views 0 comment Print

There are a lot of questions about funding and the right way to work with them. Considering the changes in the Companies Act, 2013 which has changed some of the basic fundamentals and imposed some restrictions for investor protection, the challenges faced by startups have increased.

Tax on Compensation received from Builder under Redevelopment agreement

September 23, 2016 9402 Views 0 comment Print

Rajnikant D. Shroff Vs ACIT (ITAT Mumbai)  Undisputedly, the assessee is a member of a society owning a building. The society has entered into an agreement with a developer for development of a new building after demolishing the old building. As per the terms of the agreement, the developer has to provide a flat along […]

Companies (Management and Administration) Amendment Rules, 2016

September 23, 2016 5947 Views 0 comment Print

In the case of a company existing on the commencement of the Act, the particulars as available in the register of members maintained under the Companies Act, 1956 shall be transferred to the new register of members in Form No.MGT-1 and in case additional information, required as per provisions of the Act and these rules, is provided by the members, such information may also be added in the register as and when provided

FAQs on Settlement Commission under Goods and Service Tax

September 23, 2016 2740 Views 0 comment Print

Q 1. What are the basic objective of Settlement Commission? Ans. The basic objectives of setting up of the Settlement Commission are:- i. to provide an alternate channel for dispute resolution for the taxpayer; ii. to expedite payment of GST involved in disputes by avoiding costly and time consuming litigation process; iii. to provide an opportunity to tax payers to come clean who may have evaded payment of tax;

ITR-7 data related to exemptions approved u/s 35 and 80G

September 23, 2016 2149 Views 0 comment Print

DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, New Delhi – 110055 Dated : 23-Sep-2016 F.No. DIT(S)-III/2015-16/e-Filing Txn/ To, The Chief Commissioner of Income-Tax (Exemption) Pratyaksh Kar Bhawan, Block E-2, 25th Floor, Civic Centre, J.L. Nehru Marg, New Delhi — 110002.. Sub: : ITR-7 data related to exemptions approved u/s 35 […]

Guidelines for designating/certifying a Common Service Provider by DGFT

September 23, 2016 3373 Views 0 comment Print

ANF 5A of Aayat Niryat Forms of FTP 2015-20 has been amended to include guidelines for designating/certifying a Common Service Provider by DGFT, Department of Commerce or State Industrial Infrastructure Corporation in a Town of Export Excellence under Para 5.02 (b) FTP 2015-20.

Reg. Definition of service provider under Common Service Providers in EPCG scheme

September 23, 2016 6109 Views 0 comment Print

The issue has arisen whether EPCG authorizations can be issued to a person who does job work for the exporter of goods, as a CSP under para 5.02 read with para 1.35 of Foreign Trade Policy (FTP) 2015-20.

Regulatory Framework for Commodity Derivatives Brokers

September 23, 2016 1180 Views 0 comment Print

As per Section 131(B) of Finance Act, 2015 all rules, directions, guidelines, instructions, circulars, or any like instruments, made by the erstwhile Forward Markets Commission (FMC) or the Central Government applicable to recognized associations under the Forward Contracts (Regulation) Act, 1952 shall continue to remain in force for a period of one year

SEBI proposes Foreign Portfolio Investors to trade directly in Corporate Bonds without a broker

September 23, 2016 709 Views 0 comment Print

The SEBI Board met in Mumbai today and took the following important decisions: I. Amendment to SEBI Regulations to permit Foreign Portfolio Investors (FPIs) to trade directly in Corporate Bonds without a broker II. Amendments proposed to the SEBI (Infrastructure Investment Trusts) Regulations, 2014 and SEBI (Real Estate Investment Trusts) Regulations, 2014

Role of CBEC as work for GST begins

September 23, 2016 6772 Views 0 comment Print

The journey to rollout the Goods and Services Tax (GST) has commenced with the enactment of the 101st Constitution Amendment Act, 2016 on 8th September, 2016 and the subsequent notifications. The Government is committed and has set in motion a slew of steps to ensure that the GST conies into force from 1st of April, 2017. In this backdrop, the role of CBEC is of utmost significance and importance.

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