♣ This income tax calculator supports assessment year 2015-16 and 2016-17 (as per rules & regulation of Income Tax Department). ♣ To decide the assessment year select the date of ‘Year ended on’ by dropdown box only and enjoy all features for relevant period. ♣ You can do different calculations for Citizen, Sr.Citizen, and Sup.Sr.Citizens . For which you must enter the correct date of birth. It will determine age accordingly. If you leave the date of birth blank, the tool will fill the equivalent date of age 18.
Under Globalised scenario, the boundaries of the business crossed the beyond from one county to many countries during the last two decades, at the same time business risk is also increased the same level for the companies and their investor. As a investor or stake holder of an entity to know the health of the business is inevitable.
The Reserve Bank of India had issued Notification No. FEMA 20 /2000-RB dated 3rd May 2000 on Foreign Exchange Management (Transfer or issue of security by a person resident outside India) Regulations, 2000to prohibit, restrict or regulate, transfer or issue security by a person resident outside India.
Clause (viib) of sub section (2) of section 56 was inserted vide finance act, 2013 w.e.f 01.04.2013 i.e. for A. Y. 2013-14 to provide that where a closely held company issues its shares at a price which is more than its fair market value then the amount received in excess of fair market value of shares will be charged to tax in the hand of the company as income from other sources.
In case of captive consumption, the valuation would be done under Rule 8 and if same goods are partly sold by the assessee then such goods should be assessed on the basis of transaction value and duty to be determined as per Section 4 for each removal.
Also all imported motorcycles which meet the EURO III emission norms as defined in EU Directive 2003/77/EC will continue to be exempted from the conditions at Sl. No.(2) (II) (c) above, until 31st March, 2017. However, at the time of Customs clearance, an EC Type Approval Certificate / Certificate of COP, of an accredited agency from any member state of EU, including notarized English translation thereof, shall be furnished. This Type Approval shall stipulate that the vehicle to be imported meets the technical requirements of all relevant separate directives, as last amended and as listed in EU Directive 2002/24/EC.
On the basis of an assessment of the current and evolving macroeconomic situation, it has been decided to: keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.75 per cent; keep the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liability (NDTL);
In paragraph 14 of the Sixth Bi-monthly Monetary Policy Statement for 2015-16 released today, the Governor highlighted the steps being taken by the Reserve Bank of India, in keeping with the Government’s initiatives to promote the ease of doing business and contribute to an eco-system conducive for growth of entrepreneurship, particularly in respect of the start-up enterprises. The details are:
The Companies Law Committee has presented its report to make recommendations to the Government on issues arising from the implementation of the Companies Act, 2013 as well as on the recommendations received from Bankruptcy Law Reforms Committee, the High Level Committee on CSR, the Law Commission and other agencies.
F. No 4(5)-W&M/2015: The Government of India hereby notifies repurchase of (i) 7.59 per cent Government Stock 2016, (ii) 10.71 per cent Government Stock 2016, and (iii) 7.02 per cent Government Stock 2016 (herein after called the Government Stocks) for its cash management operations. The repurchase by the Government of India will be undertaken to prematurely redeem the Government stocks by utilising the current surplus cash balances.
