"08 December 2016" Archive

Handbook on Preparation & Presentation before Tribunals

This handbook will provide adequate insight of preparation and presentation of cases before adjudicating authorities and tribunals and procedures followed before them that would be helpful in understanding the nuances and methodologies to be adopted for representation before them....

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Posted Under: Corporate Law |

EPFO to Introduce next version of Electronic Challan cum Receipt

No.R-I/Introduction of ECR 2.0/2016 (08/12/2016)

EPFO is in the process of launching next version of ECR in the month of December, 2016. The revised ECR is a part of the Unified Portal which has Online Registration of Establishments (OLRE) and Universal Account Number (UAN) as its other two components....

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How to Furnish / Verify Form 27BA to remove TDS payment defaults

Notification No. 12/2016-Income Tax- CPC TDS (08/12/2016)

Procedure for the purposes of furnishing and verification of Form 27BA for removing of default of Short Collection and/or Non Collection of Tax at Source ...

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Notification No. 113/2016-Income Tax dated 8th December 2016

Notification No. S.O. 3681(E) (08/12/2016)

In notification No. 97/2016 related to Adjudicating Authority & Appellate Tribunal under Benami Property Act, word established under should be read as referred to in...

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RBI allows OTP based e-KYC & Central KYC for new Bank accounts

RBI/2016-17/177 DBR.AML.BC.47/14.01.01/2016-17 (08/12/2016)

i. It has been decided to allow One Time Pin (OTP) based e-KYC subject to certain restrictions. ii. All Scheduled Commercial Banks (SCBs) are required to invariably upload the KYC data pertaining to all new individual accounts opened on or after January 1, 2017, with Central KYC Records Registry. ...

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15 Amendments to Master Direction on KYC norms

RBI/2016-17/176 DBR.AML.BC. No. 18/14.01.001/2016-17 (08/12/2016)

i. Explanation to Section 3(a)(ii)d pertaining to ‘definition of beneficial owner in case of trust’ which reads as - Explanation: Term ‘body of individuals’ includes societies has been deleted....

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11 benefits by govt to Promote Digital and Cashless Economy

To accelerate digital transactions through use of credit/debit cards and mobile phone applications/e-wallets etc, Central Govt has decided on a package of incentives and measures for promotion of digital and cashless economy in country....

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Posted Under: Corporate Law | ,

Innovative Methods of Laundering & Transportation of Cash unearthed

Income Tax Sleuths Unearth Innovative Methods of Laundering and Transportation of Cash at Mumbai, Nagpur and Ahmedabad. Income tax investigations at Mumbai led to the revelation of a syndicate of ground level operators active in converting banned currency notes into legal tenders for a commis ...

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Posted Under: Corporate Law |

Upto Rs. 2000 Payment no Service tax on Debit/ Credit card merchant discount

Notification No. 52/2016-Service Tax (08/12/2016)

Government waives service tax charged while making payments through credit card, debit card, charge card or any other payment card; waiver limited to payments up to Rs. 2,000 in a single transaction ...

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Status of Time Barring Scrutiny Assessments as on 05/12/2016

F. No. DGIT(S)/DIT(S)-3/AST/Time Barring Matters/84/2016-17 (08/12/2016)

Complete data as well as the AO/Range/CIT-wise summary of pendency of Time Barring scrutiny assessments as on 05/12/2016 and regionwise summary is attached. ...

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