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Archive: 07 December 2016

Posts in 07 December 2016

Govt to simplify Labour Laws by grouping on functional basis

December 7, 2016 2050 Views 0 comment Print

Ministry has initiated steps for drafting four Labour Laws on Wages; Industrial Relations; Social Security & Welfare; and Safety and Working Conditions

Increase Wages limit to Rs. 25000 for EPF Converge- CBT

December 7, 2016 12576 Views 2 comments Print

Sub-committee of Central Board of Trustees, EPF recommended to Govt to consider increase in wage ceiling under EPFO to Rs. 25000 PM from existing 15000 PM.

Due date & Fee for Annual ROC Filing in J&K relaxed

December 7, 2016 1147 Views 0 comment Print

Jammu and Kashmir -Relaxation of additional fees & extension of last date of in filing form MGT-7 (Annual Return) & AOC-4 (Financial Statement)

S. 10(46) CBDT Notifies Petroleum & Natural Gas Regulatory Board

December 7, 2016 721 Views 0 comment Print

Central Government hereby notifies for section 10(46) of Income-tax Act, 1961 , Petroleum and Natural Gas Regulatory Boars in respect of following specified incomes

Clarification on due date of transfer of shares to IEPF Authority

December 7, 2016 898 Views 0 comment Print

Various representations have been received from Companies for simplification of transfer process of shares under Investor Education & Protection Fund (Accounting. Audit. Transfer. and Refund) Rules, 2016. notified on 05.09.2016.

9 Government Social Security Scheme for Domestic Workers

December 7, 2016 4588 Views 0 comment Print

9 Schemes, formulated by Govt to give social security cover to unorganized workers, listed in Schedule I of Unorganised Workers’ Social Security Act, 2008

Monitoring, Compliance and Penalty under FATCA

December 7, 2016 3316 Views 0 comment Print

As provided in Rule 1 14G(9), the statement needs to be furnished to the Directorate of Intelligance and Criminal Investigation and the said Directorate has been given the responsibility of ensuring the compliance. The penalty provisions provided in the Income-tax Act, 1961

Procedure for Furnishing Report under FATCA and CRS

December 7, 2016 3178 Views 0 comment Print

8.1 As per Rule 1 14G(9), the statement in respect of each reportable account needs to be filed by the RFIs to the Director of Income-tax (Intelligence and Criminal Investigation) or Joint Director of Income-tax (Intelligence and Criminal Investigation) through online transmission of electronic data to a server designated for this purpose under digital signature in accordance with the data structure specified by the Principal Director General of Income Tax (Systems).

Reporting under FATCA and CRS by Trust and related issues

December 7, 2016 3703 Views 0 comment Print

7.1 In the case of trust, two situations may arise- a. when a trust is itself a Reporting Financial Institution, or b. when a trust is a NFE that maintains a Financial Account with a Reporting Financial Institution.

62114 cases of non payment of Minimum Wages for Contract Jobs

December 7, 2016 1843 Views 0 comment Print

Contractual workers are being paid minimum wages covered under Scheduled Employment at rate fixed according to nature of work as provided under Minimum Wages Act, 1948.

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