1. (1) These rules may be called the Maharashtra Value Added Tax (Third Amendment) Rules, 2015.— (2) They shall come into force on 1st January 2016. 2. In the Maharashtra Value Added Tax Rules, 2005, after rule 52A, the following rule shall be added namely :‑
Notification No. 95/2015 In exercise of the powers conferred by section 139A, section 271FAA and section 285BA, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1.1 Chartered Accountants examinations are held as per the provisions of the Chartered Accountants Regulations, 1988, framed under Chartered Accountants Act, 1949. 1.2 Affairs relating to Chartered Accountancy examinations are managed by the Examination Committee, a Standing Committee of the Council of the Institute of Chartered Accountants of India.
Audit of ‘Internal Financial controls (hereinafter to be referred as ‘IFC’) over Financial Reporting’ is a reasonably advanced reporting concept for India. In India though there were no such requirements earlier, however, similar reporting requirements existed globally such as section 404 of Sarbanes Oxley Act, 2002 of USA.
G.S.R. 1007(E).—In exercise of the powers conferred by sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), and in supercession of its Notification No. FEMA.12/2000-RB, dated May 3, 2000, as amended from time to time, the Reserve Bank of India makes the following Regulations with respect to the holding by a person resident in India of a general or life insurance policy issued by an insurer outside India, namely:
Notification No. 149/2015 – Customs (N.T.) Central Government hereby rescinds the Customs Tariff (Transitional Product Specific Safeguard Duty) Rules, 2002, published by Notification No. 34/2002-NT-CUSTOMS, dated the 11th June, 2002 in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 420 (E), dated the 11th June, 2002, except as respects things done or omitted to be done before such rescission.
Notification No. 148/ 2015-Customs (N.T.) Central Board of Excise and Customs, hereby makes following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.12/97-CUSTOMS (N.T.), dated the 2nd April, 1997, published in the Gazette of India, Extraordinary, Part II, Section 3,Sub-section (i) vide number G.S.R. 193(E), dated the 2nd April, 1997, namely:-
In terms of revised selection methodology prescribed vide Circular No. 995/2/2015-CX dated 27th Feb, 2015, which has come into effect from 01st July, 2015, an annual schedule for audit would be drawn based on the risk evaluation method prescribed by the Directorate General of Audit. The risk assessment function will be jointly handled by National Risk Managers (NRM) situated in the Directorate of Audit and Local Risk Managers (LRM) heading the Risk Management Section of Audit Commissionerates.
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 29th December, 2015 The following Act of Parliament received the assent of the President on the 26th December, 2015, and is hereby published for general information:— THE NEGOTIABLE INSTRUMENTS (AMENDMENT) ACT, 2015 NO. 26 OF 2015 [26th December, 2015.] An Act further to amend the […]
. CIT Vs. Bharti Overseas Pvt. Ltd. (Delhi High Court) As far as Rule 8D (2) (i) is concerned, the AO has necessarily to record that he is not satisfied with the correctness of the claim of the expenditure made by the Assessee in relation to the income which does not form part of the total income.
