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Budget 2016

Latest Articles


An Analytical Overview of Finance Bill 2026: Key Tax Implications for Corporates

Income Tax : The Bill retains corporate tax rates while rationalising MAT and offering targeted incentives for IT, cloud services, and global i...

February 5, 2026 1203 Views 0 comment Print

Additional Deduction For Home Loan Interest

Income Tax : Budget 2016: In furtherance of the goal of the Government of providing 'housing for all', it is proposed to incentivise first-home...

August 6, 2020 101788 Views 22 comments Print

TCS on Motor Vehicles wef 01.06.2016

Income Tax : In this Budget, from 1 June 2016, The transactions are sale of a motor vehicle of value exceeding Rs.10 lakh, and receipt of mone...

March 21, 2020 406525 Views 17 comments Print

TCS on sale of Motor Vehicles and goods or services

Income Tax : The existing provision of section 206C of the Act, inter alia, provides that the seller shall collect tax at source at specified r...

March 15, 2020 150898 Views 10 comments Print

Exemption from PAN furnishing U/s. 206AA to non-resident

Income Tax : In order to reduce compliance burden, it is proposed to amend the said section 206AA so as to provide that the provisions of this ...

March 15, 2020 24052 Views 0 comment Print


Latest News


IBBI Proposes New Limit on Insolvency Professional Assignments

Corporate Law : The IBBI has proposed a new regulation to cap the total number of assignments for Insolvency Professionals (IPs) at 10, including ...

August 13, 2025 1602 Views 0 comment Print

IBBI guideline on online Education by IPAs & RVOs

Corporate Law : Insolvency and Bankruptcy Board of India (Online Delivery of Educational Course and Continuing Professional Education by Insolvenc...

July 12, 2020 1029 Views 0 comment Print

Income Declaration Scheme: Govt assures complete confidentiality

Income Tax : The Government has assured complete confidentiality to those declaring their income under the Income Declaration Scheme 2016. Add...

July 1, 2016 2014 Views 0 comment Print

PM warns Tax Evaders to disclose income before 30.09.2016

Income Tax : For those having undisclosed income, the government has provided a special chance to declare it by September 30, 2016. He said by ...

June 27, 2016 4459 Views 0 comment Print

Google Payments: Notification regarding Equalisation Levy

Income Tax : This is to inform you that as per the Notification No. 37/2016: F.No. 370142/12/2016-TPL dated 27 May 2016 read with Finance Act, ...

June 11, 2016 5671 Views 3 comments Print


Latest Judiciary


Outstanding lease rent falls qualifies as ‘Operational Debt’: NCLT Delhi

Corporate Law : NCLT Delhi held that non-payment of outstanding lease rent falls under the ambit of ‘Operational Debt’ as defined under sectio...

June 27, 2025 720 Views 0 comment Print

Insolvency Application was maintainable against Personal Guarantor u/s 60(1) even if there was absence of pending CIRP against CD

Company Law : The view that NCLT had no jurisdiction to entertain Section 95 Application filed by the Financial Creditor and the Application oug...

February 3, 2025 870 Views 0 comment Print

Suspension of initiation of CIRP applies to date of default

Corporate Law : NCLAT Chennai held that suspension of initiation of CIRP (Corporate Insolvency Resolution Process) as per provisions of section 10...

August 31, 2023 807 Views 0 comment Print

Gujarat HC Stays Service Tax on Senior Advocates

Service Tax : Honble Gujarat High Court has vide its order dated 30th March, 2016 in the case of Percy Cawas Kavina vs. UOI in Special Civil Ap...

March 30, 2016 6568 Views 0 comment Print


Latest Notifications


Personal Details of Public Servants Exempt from Disclosure Under RTI if Not in Public Interest

Corporate Law : Jitender Kumar Jain's RTI appeal for details on a show cause notice was dismissed as personal information, with no larger public i...

September 19, 2024 816 Views 0 comment Print

Make Indirect Taxes Dispute Resolution Scheme a Success: CBEC

Custom Duty, Excise Duty, Service Tax : As you are aware, in order to reduce litigation, Government has come out with an Indirect Tax Dispute Resolution Scheme, 2016 in t...

July 22, 2016 21778 Views 0 comment Print

Step by Step-Instructions to Forms of Income Declaration Scheme, 2016

Income Tax : Processes of uploading manual/paper Form 1 received by PCIT/CIT, generation of Form 2 for efiled/paper Form 1, viewing of Form 3 s...

July 1, 2016 13606 Views 0 comment Print

Excise registration/Payment date for jewellers extended to 31.07.2016

Excise Duty : Time limit for taking central excise registration of an establishment by a jeweller is being extended up to 31.07.2016. However, a...

July 1, 2016 2515 Views 0 comment Print

TCS on Sale of good/Services only if Cash Receipt exceeds 2 Lakh

Income Tax : Question 1: Whether tax collection at source under section 206C(1D) at the rate of 1% will apply in cases where the sale consider...

June 24, 2016 29812 Views 0 comment Print


Notification No. 18/2016-Customs Dated: 1st March, 2016

March 1, 2016 4888 Views 0 comment Print

Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 25/2002-Customs, dated the 1st March, 2002

Notification No. 17/2016 – Customs Dated: 1st March, 2016

March 1, 2016 1522 Views 0 comment Print

Government of India in the Ministry of Finance (Department of Revenue) No. 25/99- Customs, dated the 28th February, 1999, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 161(E), dated the 28th February, 1999

Notification No. 16/2016-Customs Dated: 1st March, 2016

March 1, 2016 3622 Views 0 comment Print

Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 21/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 194(E), dated the 17th March, 2012

Notification No. 15/2016-Customs Dated: 1st March, 2016

March 1, 2016 6334 Views 0 comment Print

Government of India in the Ministry of Finance (Department of Revenue) No. 27/2011-Customs, dated the 1st March, 2011, published in the Gazette of India, Extraordinary, vide number G.S.R. 153(E), dated the 1st March, 2011

Notification No. 14/2016-Customs Dated: 1st March, 2016

March 1, 2016 5269 Views 0 comment Print

(i) in the TABLE, serial numbers 9, 9A, 10, 10A and the entries relating thereto shall be omitted; (ii) in paragraph 2, in item (ix), the figures and letters 9A,10A, shall be omitted.

Limit for bonafide gifts imported by post or as air freight increased to Rs, 20000

March 1, 2016 2095 Views 1 comment Print

(a) in the proviso, for the words rupees ten thousand, the words rupees twenty thousand shall be substituted; (b) in the Explanation, for the words rupees ten thousand, the words rupees twenty thousand shall be substituted.

Notification No. 12/2016-Customs Dated: 1st March, 2016

March 1, 2016 3625 Views 0 comment Print

Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 12/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185 (E), dated the

Notification No. 11/2016-Customs Dated: 1st March, 2016

March 1, 2016 5023 Views 0 comment Print

Seeks to exempt CVD on imported media with recorded Information Technology Software on so much value as is equivalent to the value of the Information Technology Software recorded on the said media which is leviable to Service tax under Finance Act, 1994

Notification No. 21/2016-Central Excise (N.T.) Dated: 01.03.2016

March 1, 2016 3046 Views 0 comment Print

The declaration filed under paragraph (1A) shall be accompanied by a Chartered Engineer’s certificate in respect of correctness of the ratio of input and output where a copy of the Standard Input Output Norms notified by Director General of Foreign Trade, Ministry of Commerce, if fixed, is made available to the Chartered Engineer before obtaining the certificate, in respect of goods

Central Excise (Removal of Goods at Concessional rate of Duty for Manufacture of Excisable Goods), 2016

March 1, 2016 6523 Views 0 comment Print

Short title, extent and commencement. — (1) These rules may be called the Central Excise (Removal of Goods at Concessional Rate of Duty for Manufacture of Excisable and Other Goods) Rules, 2016

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