The Government has introduced equalization levy of 6 per cent on online advertisers. The Finance Act, 2016 had inserted a separate Chapter VIII titled Equalization Levy in order to tap tax on income accruing to foreign e-commerce companies from India. It was provided that a person making payment exceeding in aggregate 1 lakh rupees in a year, to a non resident
Government has taken several decisions to aid the farmers in the current Rabi season to facilitate farming activities and to support rural economy.
Government withdraws exemptions given for the use of Rs. 500/- old notes, from the mid night of December 9, 2016, for making payments at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses for purchase of tickets
WEF 01.01.2017, all Credit Information Companies shall provide, upon request provide a Free Full Credit Report popularly known as CIBIL report
Govt propose to disclose No. of disputes negotiated under Mutual Agreement Procedures of tax treaties along with time being taken to resolve such disputes
Committee on Digital Payments headed by Shri. Ratan P Watal, Principal Advisor, NITI Aayog submits its Final Report to Union Finance Minister
Under Health plus Life Combi Product, Combination of any Life Insurance cover offered by a life insurer and a Health Insurance cover offered by General Insurer or Health Insurer is allowed.
Direct Tax Collections up to November, 2016 show net collections at Rs. 4.12 lakh crore which is 15.12% more than the net collections for the corresponding period last year;
The Ministry, vide notification no. S.R. 1049(E) dated 07.11.2016, has amended Companies (Registration Offices and Fees) Rules, 2014, allowing certification of AOC-4 by Company Secretaries and Cost Accountants also in addition to Chartered Accountants.
The Competition Commission of India (CCI) has registered four cases against cellular service providers alleging violation of Section 3 and 4 of the Competition Act, 2002 as follows: –
