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MCA notifies draft Rules related to insolvency resolution & liquidation of insolvent corporate persons

October 14, 2016 1144 Views 0 comment Print

The Ministry of Corporate Affairs (MCA) as part of the process for implementing the Insolvency and Bankruptcy Code, 2016 (Code) had set-up a working group consisting of practitioners and experts for making recommendations for drafting rules and regulations for the insolvency resolution and liquidation of insolvent corporate persons.

Upload details of appeals pending before CIT(A) as on 29.02.2016: CBDT

October 13, 2016 1468 Views 0 comment Print

Hence it is directed to request that it may be ensured that the data of all the appeals pending before CIT(A) as on 29.02.2016 is uploaded on ITBA module for CIT(A) latest by 21.10.2016. This may kindly be treated as Most Urgent.

Appointment of Common Adjudicating Authority by DGRI

October 13, 2016 1144 Views 0 comment Print

Director General, Revenue Intelligence, hereby appoints officers mentioned in column (5) of the Table below to act as a common adjudicating authority to exercise the powers and discharge the duties conferred or imposed on officers mentioned in column (4) of the said Table

Delhi VAT: Appointment of Assistant VATO

October 13, 2016 5599 Views 0 comment Print

Lt. Governor of the National Capital Territory of Delhi is pleased to appoint the following AVATOs, with effect from the date of assumption of charge to assist the Commissioner of Value Added Tax, Government of National Capital Territory of Delhi in the administration of the said Act, namely :

Notification No. 125/2016-Customs (N.T) Dated- 13.10.2016

October 13, 2016 1408 Views 0 comment Print

In the said notification, in the TABLE, against serial number 8, in column (3), after the existing entries, the following entries shall be inserted, namely:- (11) Sub – Foreign Post office at Vijayawada; (12) Sub – Foreign Post office at Leh; (13) Sub – Foreign Post office at Hyderabad.

TDS on lump sum lease premium paid for long term lease

October 13, 2016 19591 Views 1 comment Print

The issue of whether or not TDS under section 194-I of the Act is applicable on ‘lump sum lease premium’ or ‘one-time upfront lease charges” paid by an assessee for acquiring long-term leasehold rights for land or any other property has been examined by CBDT in view of representations received in this regard.

Contribution to PF on salary exceeding Rs. 15000 p.m. WEF 01.09.2014

October 11, 2016 21913 Views 0 comment Print

The existing members as on the 1st day of September, 2014, who at the option of the employer and employee, had been contributing on salary exceeding six thousand and five hundred rupees per month, may on a fresh option to be exercised jointly by the employer and employee continue to contribute on salary exceeding fifteen thousand rupees per month

CBDT restricts acceptance of contributions by electoral trust

October 11, 2016 1675 Views 0 comment Print

CBDT amends Rule 17C to provide that  The electoral trust shall not accept contributions— (a)  from an individual who is not a citizen of India or from any foreign entity whether incorporated or not; (b)  from any other electoral trust which has been registered as a company under section 25 of the Companies Act, 1956 […]

Raising of further capital & process of exit of Exclusively Listed Companies from Dissemination Board

October 10, 2016 2422 Views 0 comment Print

SEBI has been receiving representations seeking clarifications on raising of further capital and the process of exit of ELCs from the DB. Therefore, SEBI, in the interest of the investors of such ELCs, clarifies as follows:

Anti-dumping duty on Narrow woven Fabrics Hook and Loop Velcro Tapes

October 8, 2016 3676 Views 0 comment Print

Seeks to impose anti-dumping duty on Narrow woven Fabrics Hook and Loop Velcro Tapes of specified types, originating in or exported from People s Republic of China for a period of five years.

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