Notification issued u/s 138(2) of the Act prescribes a general prohibition in furnishing of information/documents before any person/authority. Two exceptions have, however, been prescribed where the information can be made The first exception pertains to providing of information by DGIT(Systems) in respect of records or data related to PAN, tax deduction account number and computerization of income-tax records of assessee.
The Union Cabinet has approved the proposals of Ministry of Finance on certain landmark budgetary reforms relating to (i) the merger of Railway budget with the General budget, (ii) the advancement of the date of Budget presentation from the last day of February and (iii) the merger of the Plan and the Non-Plan classification in the Budget and Accounts.
Article 265 of the Constitution of India provides that no tax shall be levied or collected except by the authority of law. Furthermore, insertion of new article 246A makes a clear division of power to make laws with respect to goods and services tax imposed by the Union or by such State, as enumerated in the Seventh Schedule of the Constitution
Times and now, questions have been raised on the qualifications and eligibility of the officers of the department to conduct audit, but the Government has proved to be adamant in continuing the ritual despite of the poor results of such audits. This piece of articulation is on the journey of provisions related to audit in the Chapter V of the Finance Act, 1994 governing the service tax law.
Cabinet approves extension of the validity of Central Orders dated 28.09.2015 in respect of edible oils and edible oilseeds and Central Order No. S.O. No. 2857(E) dated 18.10.2015 in respect of pulses from 01.10.2016 to 30.09.2017
Cabinet approves Agreement between India and Samoa for exchange of information with respect to Taxes- The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing and ratification of Agreement between India and Samoa for the exchange of information with respect to Taxes.
As per sub-section 2 of Section 32K of the Central Excise Act, 1944 also made applicable to Service Tax matters by virtue of Section 83 of the Finance Act, 1994 and sub-section 2 of Section 127H of the Customs Act, 1962, immunity granted to a person from prosecution, penalty and fine shall stand withdrawn if such person fails to pay any sums specified under order of settlement within the stipulated time.
Securities and Exchange Board of India CIRCULAR SEBI/HO/CDMRD/DRMP/CIR/P/2016/90 September 21, 2016 To, The Managing Directors/Chief Executve Officers, National Commodity Derivatives Exchanges Sir/Madam, Sub: Staggered delivery, early delivery system, early pay-in facility, penalty on delivery default, fixation of FSP and changes in expiry dates 1. As per Section 131[B]of the Finance Act, 2015 all rules, directions, […]
It has been decided that in case of duplicate UANs issued to one EPF member as mentioned above, the following solutions are detailed below: • The members should be advised to apply for P.F. transfer from previous EPF account to the present EPF account.
In view of the references received from stakeholders seeking clarification on the applicability of provisions of Chapter III of the Companies Act, 2013 (Act) and Rule 18 of Companies (Share Capital and Debenture) Rules, 2014 to the issue of Rupee bonds by the Indian companies exclusively to persons resident outside India
