The Gold Bonds under Sovereign Gold Bond Scheme 2016-17 – Series II may be held by a Trust, HUFs, Charitable Institution, University or by a person resident in India, being an individual, in his capacity as such individual, or on behalf of minor child, or jointly with any other individual.
Sovereign Gold Bonds will be available for subscription at the branches of scheduled commercial banks and designated post offices through RBI’s e- Kuber system. The e-Kuber system can be accessed either through Infinet or Internet.
Sovereign Gold Bond Scheme will be open for subscription for the period from September 01 to 09, 2016. The issue price of the Sovereign Gold Bond for this tranche has been fixed at ₹ 3150/- (Rupees Three Thousand One Hundred Fifty only) per gram of gold. The rate has been fixed on the basis of simple average of closing price for gold of 999 purity of the previous week (August 22-26, 2016)
These rules may be called the Insolvency and Bankruptcy Board of India (Salary, Allowances and other Terms and Conditions of Service of Chairperson and members) Rules, 2016.
The coins of the following denominations shall also be coined at the Mint for issue under the authority of the Central Government to commemorate the occasion of Birth Centenary of Pandit Deendayal Upadhyaya
1. These regulations may be called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Third Amendment) Regulations, 2016. 2. They shall come into force on the date of their publication in the Official Gazette.
The Implementation Guide addresses the various issues relating to the auditor’s reporting responsibilities on the financial statements prepared under the Indian Accounting Standards (Ind AS) framework especially during the transition phase of first time implementation of Ind AS Framework.
The issue of deactivating of the e-filing accounts of the members of the ICAI by the Income Tax Department on account of the mismatch in ‘Name’/ ‘PAN No.’ / ‘Date of Birth’ in the Income Tax records and the records available with the ICAI was taken up with the Income Tax Authorities on 26th August 2016.
Few Words about the scheme:- i. The Income Declaration Scheme,2016 is incorporated as Chapter IX of Finance Act 2016 and is covered in section 181 to section 199. ii. It shall come into force on 1st day of June 2016
India is moving towards a lower tax regime with non-litigious approach. Thus, while compliant taxpayer can expect a supportive interface with the department, tax evasion will be countered strongly. Capability of the department to detect tax evasion has improved because of enhanced access to information and availability of technology.
