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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 1209 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 406531 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 150904 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 1605 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 4462 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 723 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 819 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 29815 Views 0 comment Print


Notification No. 19/2016-Central Excise (N.T.) Dated: 01.03.2016

March 1, 2016 4522 Views 0 comment Print

hereby declares that if two or more premises of the same factory are located within a close area in the jurisdiction of a Range Superintendent, the manufacturing process undertaken therein are interlinked, and the units are not operating under any of the area based exemption notifications, the Commissioner of Central Excise, may, subject to proper accountal of the movement of goods from

Notification No. 18/2016-Central Excise (N.T.) Dated: 01.03.2016

March 1, 2016 4237 Views 0 comment Print

under heading “(3) Procedures”, in paragraph (b), in sub-paragraph (i), after the words “shall be lodged”, the words, figures, letter and brackets “before the expiry of the period specified in section 11B of Central Excise Act, 1944(1 of 1944)” shall be inserted

Notification No. 17/2016-Central Excise (N.T.) Dated: 01.03.2016

March 1, 2016 1111 Views 0 comment Print

Central Board of Excise and Customs hereby makes the following further amendments in the notification No.31/2007-Central Excise (N.T.), dated the 2nd August, 2007, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) , vide, number G.S.R. 528(E), dated the 2nd August, 2007, namely

Notification No. 16/2016-Central Excise (N.T.) Dated: 01.03.2016

March 1, 2016 2092 Views 0 comment Print

In the said notification, in paragraph 2, in clause (v), in sub-clause (b), for the word, figures and letters, “section 11AB”, the word, figures and letters, “section 11AA” shall be substituted

Seeks to prescribe interest rate at 15% p.a. for section 11AA of Central Excise Act, 1944

March 1, 2016 51841 Views 1 comment Print

1st March, 2011 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide, number GSR 136 (E), dated the 1st March, 2011, except as respects things done or omitted to be done before such supersession, the Central Government hereby fixes the rate of interest at fifteen per cent. per annum for the purposes of the said section

Time limit for filing CENVAT Credit refund application in case of service export

March 1, 2016 6211 Views 1 comment Print

Government of India in the Ministry of Finance (Department of Revenue) No. 27/2012 – C.E. (N.T.) dated 18th June, 2012, published in the Gazette of India, Extraordinary , Part II, Section 3, Sub-section (i) vide number G.S.R. 461(E), dated the 18th June, 2012, namely

CENVAT Credit (Third Amendment) Rules, 2016

March 1, 2016 45076 Views 1 comment Print

These rules may be called the CENVAT Credit (Third Amendment) Rules, 2016. (2) Save as otherwise provided, they shall come into force on the 1st day of April, 2016.

Notification No. 12/2016-Central Excise (N.T.) Dated: 01.03.2016

March 1, 2016 7078 Views 1 comment Print

Seeks to further amend Notification No. 49/2008-Central Excise (N.T.), dated the 01.03.2016 so as to amend the rate of abatement from Retail Sale Price for commodities specified therein and bring certain commodities under Retail Sale Price based assessment

Amended tariff values for apparel articles & clothing accessories not knitted or crocheted

March 1, 2016 1075 Views 0 comment Print

Seeks to further amend Notification No. 20/2001-Central Excise (N.T.), dated the 30.04.2001 so as to amend the tariff values prescribed for articles of apparel and clothing accessories not knitted or crocheted.

Chewing and Unmanufactured Tobacco Packing Machines Rules, 2016

March 1, 2016 2494 Views 0 comment Print

These rules may be called the Chewing Tobacco and Unmanufactured Tobacco Packing Machines (Capacity Determination and Collection of Duty) Amendment Rules, 2016

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