Vide order dated 02.05.2016 in F.No.225/12/2016/ITA.II, the Central Board of Direct Taxes (the Board) had clarified the position regarding tax treatment of income arising from transfer of unlisted shares. It was communicated that income from such a transfer would be taxable as Capital Gains
Disputes have cropped up in respect of classification of railway/bus/other tickets/passes, railway ticket rolls and bus ticket rolls, mark sheets/certificates, OMR Sheets/ Answer Books with OMR, Answer booklets, inland letter cards, passbooks, applications forms, paper outer strip seal, Railway receipt (RR) and practical notebook.
Analysis of CAP-II reports shows various serious discrepancies regarding the of assessees, filing of e-returns and paper returns and total no. of returns filed which was also indicated in the earlier letter of Pr. DGIT(Logistics).
Where the recommendation of DPC has been kept in sealed cover solely on account of pendency of criminal case, the sealed cover may be opened in case of acquittal of Government servant provided it has not been stayed by a superior court.
Board is considering issuance of a Master Circular on Show Cause Notice, Adjudication and Recovery by consolidating 85 circulars of Central Excise. The said master circular intends to compile relevant legal and statutory provisions on the subject by including all relevant Circulars issued in the past and by rescinding Circulars which are no longer relevant.
Please find enclosed herewith a letter No. E(LL)2015/PNM/AIRF/1 dated 20.10.2015 alongwith a letter No.2012/CE-I/CT0/22 dated 14.12.2012 and E(NG)/II/2005/RC4/SC/2 dated 21.06.2013 issued to the General Manager (P) All Zonal Railways & Production Units.
This is regarding Employees’ Enrolment Campaign, 2017 during period 01.01.2017 to 31.03.2017, in order to extend social security benefits to all eligible workers in country.
IDS 2016 deceleration will not be invalid in cases where payment has been made through cheque, RTGS, electronic transfer etc. on or before date of 30th November, 2016, but the same has been credited by banks after due date of 30th November, 2016, but on or before the 05th December, 2016.
All employees registered with ESIC but not covered with EPFO must be brought under the coverage of EPFO as per due procedure.
It was observed that the prescribed number of Inspections are not being carried out by the field authorities. This is borne out by the fact that as against 2349 Reports of the Inspections to be carried out during 2015-16 for the work done in 2014-15 that were due to be sent to the Directorate of IT by 15.04.2016, only 599 reports were received till 10.01.2017.
