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Archive: December, 2016

Posts in December, 2016

Cabinet approves DTAA between India and Tajikistan

December 16, 2016 994 Views 0 comment Print

The protocol, after it enters into force, will enable sharing of information exchanged under Double Taxation Avoidance Agreement, DTAA with other law enforcement agencies for non tax purposes.

Cabinet approves Renewal of MoU between ICAI and CBFS, Oman

December 16, 2016 979 Views 0 comment Print

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval of the MoUs signed in 2008 and 2011 and the renewal of Memorandum of Understanding (MoU) between the Institute of Chartered Accountants of India (ICAI) and College of Banking and Financial Studies (CBFS), Oman.

Pradhan Mantri Garib Kalyan Deposit Scheme (PMGKDS), 2016 – Operational Guidelines

December 16, 2016 2911 Views 1 comment Print

Application for deposit under Pradhan Mantri Garib Kalyan Deposit Scheme shall be made in Form II, indicating amount, full name, PAN, Bank Account details and address of declarant.

Taxation Laws (Second Amendment) Act, 2016 get President’s assent

December 15, 2016 9712 Views 2 comments Print

Taxation Laws (Second Amendment) Act, 2016 / Taxation and Investment Regime For Pradhan Mantri Garib Kalyan Yojana, 2016 received assent of President on 15th December, 2016.

Govt announces prizes / rewards to promote digital payment

December 15, 2016 4762 Views 2 comments Print

NITI Aayog announces launch of the schemes – Lucky Grahak Yojana and Digi-Dhan Vyapar Yojana – for incentivising digital payment

Salary of non-resident for services rendered abroad is not taxable in India

December 15, 2016 3159 Views 0 comment Print

It is not disputed that the petitioner as a marine engineer had rendered services outside India for the period of 286 days. He has received his remuneration for such work from a foreign company. Consequently, the income received by the petitioner for services rendered outside India has to be considered as income received out of India and treated as such.

Selling liquor or tobacco products to a child is punishable

December 15, 2016 1063 Views 0 comment Print

All tobacco products and intoxicating liquor and the shops selling them must display a message that giving or selling intoxicating liquor or tobacco products to a child is a punishable crime with upto seven years of rigorous imprisonment and a fine of upto one lakh rupees.

Digital Payment System For Parking Charges At Airports

December 15, 2016 841 Views 0 comment Print

Airports Authority of India (AAI) has issued directions to respective Car Parking Licensees across all AAI controlled airports for evolving a mechanism of e-payment transactions in form of Debit/Credit Cards, Digital Wallets (PayTM, Freecharge, Mobikwik, Reliance Jio etc.)

IBBI (Liquidation Process) Regulations, 2016

December 15, 2016 19771 Views 0 comment Print

(1) These Regulations may be called the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016. (2) These Regulations shall come into force on the date of their publication in the Official gazzate.

NCLT (Procedure for reduction of share capital of Company) Rules, 2016

December 15, 2016 32730 Views 1 comment Print

These rules may be called National Company Law Tribunal (Procedure for reduction of share capital of Company) Rules, 2016 and applicable from 15.12.2016.

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