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Archive: December, 2016

Posts in December, 2016

Producer Company- Provisions applicable under Companies Act, 2013

December 16, 2016 5380 Views 1 comment Print

active Member means a member who fulfils the quantum and period of patronage of the Producer Company as may be required by the articles

A Very Useful Online Tool for Budgeting and Tax Returns

December 16, 2016 2875 Views 0 comment Print

Managing your personal finances and tax returns can be quite tedious, but many people have turned to themselves in order to avoid spending unnecessary funds. The majority of documents needed for such tasks can be created using Microsoft’s Excel, because of its resourceful and versatile nature.

Applicability of Principles of Financial Market Infrastructures on Commodity Derivatives Exchanges

December 16, 2016 1003 Views 0 comment Print

The PFMIs comprise of 24 principles for Financial Market Infrastructure to provide for effective regulation, supervision and oversight of FMIs.

SEBI cautions public on unsolicited calls/ SMS

December 16, 2016 892 Views 0 comment Print

It has come to notice of SEBI that many entities have been luring investors through unsolicited calls/SMS and assuring guaranteed profits on the trading tips provided by them.

Deduction u/s 80IC cannot be claimed for more than 5 years for units Set Up in specified areas in Himachal Pradesh

December 16, 2016 2790 Views 0 comment Print

M/s Shree Dhanwantri Herbals Vs. DCIT (ITAT Chandigarh) Benefit of deduction u/s 80IC of the Act @ 100% was available to new units, only on the setting up of the unit and not on account of substantial expansion undertaken by it. It was further held that there can be only one initial assessment year for […]

CBDT notifies Revised DTAA between India and Cyprus

December 16, 2016 3718 Views 0 comment Print

Notification of Completion of Internal Procedures for Revised Double Taxation Avoidance Agreement between India and Cyprus. Notification No. 114/2016

AO can look-into ESOP sale Income based on Form 16 during I-T Return Processing

December 16, 2016 1056 Views 1 comment Print

Dr. S. Muthian Vs ACIT (ITAT Chennai) Sec.143(3) of the Act contemplates two methods of assessment being made vis-a -vis a return filed by an assessee. Wherever, the AO wants to scrutinise the return of income, he has to issue notice u/s.143(2) of the Act so as to complete the assessment u/s.143(3) of the Act. […]

Corrigendum to Income Tax Notification No. 114/2016

December 16, 2016 5068 Views 0 comment Print

In the notification No. 114/2016 dated 14.12.2016 vide S.O. No. 4033(E) and published in the Gazette of India in the last line, for this, read the.

CBDT notifies authority for section 138(1)(a)(ii) of Income Tax Act, 1961

December 16, 2016 7489 Views 1 comment Print

CBDT specifies Joint Secretary (Marketing), Ministry of Petroleum and Natural Gas, Government of India, for the purposes of section 138(1)(a)(ii)

IBBI – Limited Insolvency Examination- FAQs

December 16, 2016 3124 Views 1 comment Print

How can I take the IBBI – Limited Insolvency Examination? You need to go through three stages for taking the examination and follow instructions given on the screen at every stage:

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