"19 December 2016" Archive

Guidelines for public issue of units of REITs

Circular No. CIR/IMD/DF/136/2016 (19/12/2016)

SEBI (Real Estate Investment Trusts) Regulations, 2014 - a) Regulation 14(24) states that The Board may specify by issue of guidelines or circulars any other requirements, as it deems fit, pertaining to issue and allotment of units by a REIT.'...

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Use only SPICe forms for company incorporation: MCA

Stakeholders may kindly note that existing INC-2 and INC-7 eforms are likely to be withdrawn from the MCA portal shortly. Stakeholders will then have to use only SPICe (Simplified Proforma for Incorporating a Company electronically) forms...

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Posted Under: SEBI |

Reg. Issue of Invoice for online services without digital signature

Notification No. 53/2016-Service Tax (19/12/2016)

A person located in non taxable territory providing online information and database access or retrieval services to a non-assesse online recipient to issue online invoices not authenticated by means of a digital signature for a period upto 31st January 2017....

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Amount exceeding Rs. 5000 in old notes can be deposited only once

It has now been decided that amounts exceeding Rs.5000 in old notes can be deposited only once between now and 30th December, 2016. The banks have been advised to conduct due diligence regarding the reasons for not depositing these notes earlier....

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Posted Under: SEBI |

Tips to Employees: Whether Form Part of Salary or Perquisite and Profits In Lieu of Salary & Liable to TDS?

ITC Ltd. Gurgaon Vs Commissioner of Income-tax (TDS) (Supreme Court of India)

SC held that income from tips would be chargeable in the hands of employees as income from other sources, such tips being received from customers and not from employer...

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Definition of Capital Goods Under Revised GST Law

As contrast to the above definition, the definition of capital goods under earlier GST law was similar to that given under Cenvat Credit Rules, 2004. The earlier definition was very specific as compared to the present definition which has a very wide scope. ...

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Posted Under: SEBI |

RBI restriction on cash deposit of more than Rs. 5000 in a Bank Account

RBI/2016-17/189 DCM (Plg) No. 1859/10.27.00/2016-17 (19/12/2016)

Tenders of old notes of Rs. 500 and 1000 in excess of ₹ 5000 into a bank account will be received for credit only once during remaining period till December 30, 2016....

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MVAT: V. V. Kulkarni appointed as Member of Advance Ruling Authority

Notification No. VAT/AMD. 2015/1A/15/ADM-8 (19/12/2016)

No. VAT/AMD. 2015/1A/15/ADM-8.—In exercise of the powers conferred by sub-section (3) of section 55 of the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Commissioner of Sales Tax, Maharashtra State hereby amends the Notification No. VAT/AMD. 2015/1A/15/ADM-8, dated the 9th May 2016...

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Government decides to reduce existing rate of deemed profit U/s. 44AD

Govt decides to reduce existing rate of deemed profit U/s. 44AD of Income Tax Act in respect of amounts/receipts through banking channel/digital means...

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Posted Under: SEBI | ,

U S Taxation – April 18, 2017 Filing Deadline : Time to ponder

RS announced the arrival of US Taxation on Monday, Jan. 23, 2017 when IRS would begin accepting electronic tax returns...

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Posted Under: SEBI |
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