The report reveals that nearly 70 per cent of Indians believe that multinationals are paying reasonable amounts of tax and that it is appropriate to offer tax incentives to attract overseas investment. In contrast, across the G20, only 52 per cent of respondents are likely to have trust in multinationals’ tax arrangements, and just 49 per cent think that tax incentives should be offered.
In exercise of powers conferred by section 10(46) of Income-tax Act, 1961 (43 of 1961),Central Government hereby notifies Science and Engineering Research Board, a board constituted by Central Government, in respect of the following specified income arising to that Board, namely:—
In exercise of powers conferred by section 10(46) of Income-tax Act, 1961 Central Government hereby notifies Madhya Pradesh Electricity Regulatory Commission,
An Application Shall be made in Form DIR-3 pursuant to Section 153 & 154 of the Companies Act, 2013 by the person who wish to apply for the same and such form shall be filed with MCA online along with Verification of Language as mentioned in Form DIR-3
Till the issuance of final instructions on MDR for debit card transactions, the extant instructions issued vide our circular dated December 16, 2016 shall continue.
RBI has today advised users of Pre-paid Payment Instruments (PPIs), including mobile and electronic wallets, that only non-bank entities authorised by RBI under Payment and Settlement Systems Act, 2007 (the Act) can issue PPI wallets for purchase of goods and services from third parties and money transfer within India.
Attention of Authorized Persons is invited to the A.P. (DIR Series) Circulars No. 20, 22 and 24 dated November 25, 2016, December 16, 2016 and January 3, 2017 respectively, permitting foreign citizens (i.e. foreign passport holders) to exchange foreign exchange for Indian currency notes up to a limit of Rs. 5000/- per week till January 31, 2017.
It has been decided to assign the lead bank responsibility of districts hitherto held by the Associate banks to State Bank of India. Accordingly, lead bank responsibility is assigned as follows:
As per the Gazette of India Notification G.S.R. 157 (E) dated February 22, 2017, the merger of State Bank of Hyderabad with State Bank of India has been notified. The Order called the Acquisition of State Bank of Hyderabad Order, 2017 comes into effect on April 1, 2017.
Functionality for processing Paper ITRs filed for AY 2016-17 in Forms ITR-1, 2, 2A and 4S will be available w.e.f. 04.2017 in Income Tax Business Application (ITBA).
