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Establishment of Branch/Liaison/Project Office in India by foreign entities

May 12, 2016 2095 Views 1 comment Print

Applications from persons resident outside India for establishing Branch Office (BO) / Liaison Office (LO)/ Project Office (PO) or any other place of business in India shall be considered by the AD Category-I bank as per the guidelines issued by the Reserve Bank of India

Rajya Sabha Passes Finance Bill 2016

May 12, 2016 22768 Views 0 comment Print

Finance bill 2016 was presented in Lok Sabha by Finance Minister Shri Arun Jaitley on 29th February 2016 and same was approved by Lok Sabha with Amendments on 5th May 2016. The bill was first Presented in Rajya Sabha for approval on 09th May 2016 and bill finally got the Approval of Rajya Sabha on […]

Furnish details of limited scrutiny cases converted in complete scrutiny

May 12, 2016 5404 Views 0 comment Print

Pr. CCsIT/CCIT (Exemptions)/CCIT (Intl. Tax)/Pr. DGsIT/DGIT(Inv.) wise details of number of limited scrutiny cases converted into complete scrutiny, along with the actual assessed income in these cases (may be given in board tax bracket wise, for example Rs. 5-10 Lakh/Rs. 10-15 Lakh and so on.

Panama Papers: Procedure to seek Info from British Virgin Islands

May 12, 2016 2863 Views 0 comment Print

Over the past few years, India has sent several EOI requests to BVI under the India-BVI Tax Information Exchange Agreement (TIEA). A lot of requests are likely to be made to the BVI in near future in view of the investigations being carried out in the Panama Papers.

LTC for Government Employees – Food in Trains – Allowed

May 12, 2016 7225 Views 0 comment Print

It is clarified that if the Government servant has to compulsorily avail the catering facility and the cost is included in the rail fare for Rajdhani/Shatabdi/Duronto trains, the fare charged shall be reimbursable in full as per the entitlement/eligibility of the Government servant.

Impact of Companies Amendment Bill 2016 on Board’s Report

May 11, 2016 7063 Views 0 comment Print

The structure of Board’s report is proposed to be changed under Companies Amendment Bill 2016 to a large extent by doing away with the provision of extract of annual return in the report, instead just providing a web address of the annual return uploaded on the website of the company, thus reducing the duplication of information to a larger extent.

Ensure equal distribution of case among Sr./Jr. Standing Counsels

May 11, 2016 1195 Views 0 comment Print

In this regard it has come to the notice of the Board that there is an uneven distribution of cases among the Sr./Jr. Standing Counsels as well as SPPs at some zones/places. It is noticed that a some places most of the cases have been allocated to particular Counsel, while the other Counsel are not assigned a single case or have been assigned very few cases by the concerned authorities

Strange system of Laws and Courts in India: Revamping Desirable

May 11, 2016 2056 Views 0 comment Print

Laws are peculiar in their own ways and for the reasons best known to the judicial system of India. The experiences faced in the real life are presented to understand the gravity of the above question. In a cheque bounce case, the court postponed the hearing on several occasions for one or other reason. Each time, the banker promptly attended the case as a witness to the duel.

Further amendments in notification of Ministry of Corporate Affairs

May 11, 2016 592 Views 0 comment Print

In exercise of the powers conferred by sub-section(1) of Section 10B of the Cost and Works Accountants Act, 1959(23 and 1959)

Transfer posting orders in grade of ACIT/DCIT for Delhi Region

May 11, 2016 4771 Views 0 comment Print

F.No. P-328/T&P/DC-ACsIT/2016-17/1818 OFFICE OF THE PRINCIPAL CHIEF COMMISSIONER OF INCOME TAX NEW DELHI Dated : 11th May, 2016 ORDER NO. 38/G.O. 2016-17 Sub:-Estt. Group ‘A’ – Transfers and Postings of Deputy/Assistant Commissioners of Income-tax – Reg. – The transfers and postings of the following Deputy/Assistant Commissioners of Income-tax are hereby ordered with immediate effect and […]

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