"30 September 2016" Archive

IDS 2016- CBDT enables facility to upload Form-1 filed Manually

F.No.142/8/2016-TPL (30/09/2016)

CBDT Instruction No.10 of 2016 dated 28.09.2016 provides that in cases where the declarants do not have PAN, a declaration under the Income Declaration Scheme, 2016 (the Scheme) can be filed manually before the jurisdictional Pr.Commissioner/Commissioner by quoting the date and acknowledgment number of PAN application form....

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Income from sale of shares is Business income or Capital gains

This article is for better understanding of Treatment of Income from Sales of shares or other securities. Here I am explaining about the possibilities one can treat the income from sale of shares and what are the benefits of it. The article also comprises the corresponding guidelines from CBDT which are self explanatory and fiercest....

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Posted Under: Income Tax |

Buy-back Law, Procedure and Practice

Buy-back is one of the important provisions in the Companies Act, 2013 (the Act) which enables a company to purchase its own shares or other specified securities with inherent benefits to the company and its shareholders. A program of buy-back is resorted to by a company to enable it to...

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Posted Under: Income Tax |

How to use Two Way Lookup In Microsoft Excel

Most of us aware that Microsoft Excel can add, subtract, multiply, and divide functions. But if we able to use its advance functions like VLOOKUP, HLOOKUP, INDEX+MATCH coupled with IF function, we can able to demeanor DATA MINING within few minutes which generally takes hours to complete the task and sometime impossible if we are dealing ...

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Posted Under: Income Tax |

How to bring your personal finance under your control

I kept a sizable emergency reserve in liquid funds; I didn’t have any emergency situation for 3 years. The liquid fund where I kept the sizable emergency fund was not giving me good returns. So I invested that money in a small property. Now I have an emergency and the property is not easily liquidable...

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Posted Under: Income Tax |

Extension of due date applies to all assesse who were required to file Return on 30.09.2016

F.No.225/195/2016/ITA.II (30/09/2016)

It is further clarified that the extension of 'due-date' of 17.10.2016 would apply to all assessees who are required to file their return of income by 30th September, 2016 as per clause (a) of Explanation 2 to sub-section (1) of section 139 of Income-tax Act, 1961....

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Know Online status of ICAI Membership Fees Payment

Recently ICAI has started a facility by which Members can know online the status of Membership Fees Paid or Payable by them. Member has to enter his Members Ship Number and Date of Birth as per ICAI records to know his Membership and COP Fees Payment Status....

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Posted Under: Income Tax |

Who is liable to Register under GST Law

As per sub-section (1) of section 19, every person who is liable to be registered under Schedule III of the Act shall apply for registration within thirty days from the date on which he become liable to registration but if the person is registered under an earlier law, it shall not be necessary for him to apply for fresh registration exce...

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Posted Under: Income Tax |

How to register a mutual fund with SEBI -FAQs for Intermediaries

FAQs for Intermediaries What is the procedure for registering a mutual fund with SEBI? A. How to get registered as a Mutual Fund? An applicant proposing to sponsor a mutual fund (MF) in India must submit an application in Form A [first schedule of the SEBI (Mutual Funds) Regulations, 1996 (hereinafter, referred to as the […]...

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Posted Under: Income Tax |

Developments in Commodities Markets – Post Merger

PR No. 143/2016 (30/09/2016)

SEBI took over the Regulation of the Commodity Derivatives market on September 28, 2015 as a result of merger of FMC with SEBI. The merger of two Regulators is an unique and rare event across the world. It was also a heartening moment for SEBI as an organization that Government had reposed faith in its regulatory capacity while entrusting...

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