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Notifications/Circulars

CBDT Notifies Equalisation levy Rules, 2016

May 27, 2016 12208 Views 0 comment Print

Every assessee, who is required to deduct and pay equalisation levy, shall pay the amount of such levy to the credit of the Central Government by remitting it into the Reserve Bank of India or in any branch of the State Bank of India or of any authorised Bank accompanied by an equalisation levy challan.

CBDT notifies date of Applicability of Equalisation Levy

May 27, 2016 9271 Views 0 comment Print

n exercise of the powers conferred by sub-section (2) of section 163 of the Finance Act, 2016 (28 of 2016), the Central Government hereby appoints the 1st day of June, 2016 as the date on which Chapter VIII of the said Act shall come into force.

SEBI (Depositories and Participants) (Third Amendment) Regulations, 2016

May 27, 2016 1030 Views 0 comment Print

35B. Every depository shall devise and maintain a wind-down plan in accordance with guidelines specified by the Board. Explanation.- For the purpose of this regulation, ‘wind-down plan’ means a process or plan of action employed, for transfer of the beneficial owner accounts and other operational powers of the depository to an alternative institution that would take over the operations of the depository in scenarios such as erosion of networth of the depository or its insolvency or its inability to provide critical depository operations or services

Scheme for Facilitating Start-ups Intellectual Property Protection

May 27, 2016 1336 Views 0 comment Print

Government of India has recognized government organizations like TIFAC / NRDC / BIRAC/DEITY / DSIR etc. for the purpose of consideration as facilitator for start-ups vide published Scheme for Facilitating Start-ups Intellectual Property Protection (SIPP) document.

EPFO: Promotion of New MSMEs & Inspection Instruction

May 27, 2016 2956 Views 0 comment Print

The Inspection Scheme shall take into account the self-certified returns filed by MSMEs – provided the MSME are not more than 3 years old. Roughly 5% of MSME units shall be verified through a random risk based inspection system for compliance. Inspections allotted by Shram Suvidha portal shall ensure this.

HUF cannot be a partner in a partnership firm

May 27, 2016 23032 Views 0 comment Print

In view of above, it is clear that HUF cannot be a partner but its Karta or any individual of HUF can be a partner in a partnership firm in its individual capacity and not the HUF.

Anti-dumping duty on import of Coumarin from China

May 27, 2016 1258 Views 0 comment Print

Seeks to impose anti-dumping duty on Coumarin of all types Tariff Item 2932 20 10 , originating in or exported from People s Republic of China, for a period of five years (unless revoked, superseded or amended earlier)

No mandatory Trust registration cancellation u/s 12AA for Turnover

May 27, 2016 4729 Views 0 comment Print

It is clarified that it shall not be mandatory to cancel the registration already granted u/s 12AA to a charitable institution merely on the ground that the cut-off specified in the proviso to section 2(15) of the Act is exceeded in a particular year without there being any change in the nature of activities of the institution

SEBI mandates disclosure of Audit Qualification Impact by listed entities

May 27, 2016 4129 Views 0 comment Print

SEBI decides to make the listed entities disseminate the cumulative impact of all the audit qualifications in a separate format, simultaneously, while submitting the annual audited financial results to the stock exchanges. This will ensure that the information is available to the investors, without delay, enabling them to take well informed investment decisions;

Delhi VAT: Govt withdraws Delhi Sugam -1 (DS-1)

May 27, 2016 2503 Views 0 comment Print

Form Delhi Sugam-1 (DS1), in exercise of the powers conferred under section 70 of the Delhi Value Added Tax Act, 2004, for furnishing the details in respect of any commodities/goods to be moved from Delhi to any place outside the territory of Delhi on account of sale, stock transfer or due to whatsoever reason, by all the registered dealers of Delhi before the actual movement of such goods occurs.

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