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Empanelment of experts as Mediators or Conciliators

September 30, 2016 1162 Views 3 comments Print

Notice for Inviting applications for Empanelling experts as Mediators or Conciliators, Southern Region Notice for Inviting applications for Empanelling experts as Mediators or Conciliators, Western Region Notice for Inviting applications for Empanelling experts as Mediators or Conciliators, South Eastern Region Notice for Inviting applications for Empanelling experts as Mediators or Conciliators, Eastern Region

Govt Decides to Raise EPFO Investment in ETF from 5% to 10%

September 29, 2016 703 Views 0 comment Print

The Government has decided to raise the Employees Provident Fund ( EPF) investment in Exchange Traded Funds from present 5 per cent to 10 per cent. Announcing this Shri Bandaru Dattatreya, the Minister of State(IC) for Labour and Employment said that the decision has been taken considering the good returns in ETF investment.

CBEC retains customs duty on ghee, butter & butter oil at 40 beyond 30.09.2016

September 29, 2016 679 Views 0 comment Print

GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 53/2016-Customs New Delhi, the 29th September, 2016 G.S.R. 931 (E).– In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so […]

Sanction of Death Relief Fund in Cases of Death While in Service- Reg

September 29, 2016 5434 Views 0 comment Print

In this regard, I am directed to inform that the President, Central Staff Welfare Committee/Central P. F. Commissioner has decided on 21.09.2016 that the Death Relief fund will be given in all cases of death while in service at the rate applicable to cases of unnatural death.

CBDT notifies ICDS Applicable from Assessment Year 2017-18

September 29, 2016 27529 Views 0 comment Print

CBDT has vide notification No. 87/2016 notifies following income computation and disclosure standards applicable from A.Y. 2017-18- 1. Accounting policies 2. Valuation of inventories 3. construction contracts  4. Revenue Recognition 5. Tangible fixed assets  6. Effects of changes in foreign exchange rates  7. government grants  8. securities Preamble  9. Borrowing costs and 10.Provisions, contingent liabilities […]

CBDT rescinds ICDS notified in 2015

September 29, 2016 2170 Views 0 comment Print

Central Government hereby rescinds the notification of the Government of India in the Ministry of Finance, Department of Revenue, published in the Gazette of India, Part-II, Section 3, Sub-section (ii), vide notification number S.O. 892(E) dated the 31st March, 2015, except as respects things done or omitted to be done before such rescission.

Draft GST Rules – A Brief Understanding

September 29, 2016 7270 Views 0 comment Print

As a step towards implementation of GST in India, the Central Board of Excise and Customs (CBEC) has released the Draft Goods and Services Tax Rules (GST Rules) on the public domain recently. Along with GST Rules, CBEC has also released draft formats of the various Forms mentioned in the said Rules.

ITAT Mumbai held Gain on Sale of Penny Shares as bogus

September 29, 2016 15145 Views 1 comment Print

The Brief facts of the case are that assessee is engaged in the business of running a fast food and juice centre in Iraniwadi in Kandivali (W) under the name and style of Bhagvwati Juice Centre. Specific information was received from Addl. CIT (Inv.) , Unit-V, Mumbai that the assessee is indulging in non-genuine and […]

Reg. Scrutiny notices u/s 143(2) for PAN selected in CASS-2016

September 29, 2016 5809 Views 0 comment Print

It is seen that till 28-09-2016, notices u/s. 143(2) for scrutiny have not been issued in 625 cases. These 625 cases include 62 cases which are lying with inactive codes. In view of the above, you are requested to make arrangements for issue of notice u/s 143(2) well before the time barring date i.e. 30.09 2016.

Arvind Kejriwal Criticises Nationwide Raid on Small Traders

September 29, 2016 5593 Views 1 comment Print

Delhi Chief Minister Arvind Kejriwal  criticised Prime Minister Narendra Modi and Income Deceleration Scheme 2016 for Nationwide Raid and survey carried out by the Income Tax Department to make the Income Deceleration Scheme 2016 Successful. Recently Department has Raided and Surveyed Small Traders including Small Street Vendors too. Text of the letter is as follows […]

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