It has been brought to notice of Board that after implementation of Single Window NOC Module, ex-bond Bills of Entry are getting referred to Participating Government Agencies (PGAs) for No Objection Certificate even though the same goods had received NOC from PGA at the time of warehousing i.e at the into bond Bill of Entry stage.
The Competent Authority has accorded approval for setting up a dedicated structure for delivery and monitoring of taxpayer services in the Central Board of Direct Taxes (CBDT) and its attached and subordinate offices, with immediate effect and until further orders.
Section 10(46) of the Income-tax Act, 1961 Central Government notifies Madhya Pradesh State AIDS Control Society a body constituted by the Government of Madhya Pradesh in respect of the following specified income arising to that Society
The system will identify the applicants whose TIN application will be processed only after field visit by the concerned Nodal Officer. The applicants whose PAN is connected with the PAN of suspicious dealers (as published on the web site of the department) and the applicants in whose case any of the third party verifications fail get covered in this category.
In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, Regulated Entities (REs) are required to follow certain customer identification procedures while undertaking a transaction either by establishing an account based relationship or otherwise and monitor their transactions.
Apprehensions that the term person in the DTAA does not specifically include partnerships have been brought to the notice of the Central Board of Direct Taxes (the Board), and further clarity has been sought on whether the provisions of the treaty are applicable to a partnership.
The unclaimed redemption and dividend amounts, that are currently allowed to be deployed only in call money market or money market instruments, shall also be allowed to be invested in a separate plan of Liquid scheme / Money Market Mutual Fund scheme floated by Mutual Funds specifically for deployment of the unclaimed amounts. AMCs shall not be permitted to charge any exit load in this plan and TER (Total Expense Ratio) of such plan shall be capped at 50 bps.
The Reserve Bank of India has issued various guidelines aimed at revitalising the stressed assets in the economy. The measures taken by the Reserve Bank include Strategic Debt Restructuring Mechanism, Framework to Revitalise the Distressed Assets in the Economy, Revisions to the Guidelines on Restructuring of Advances by Banks, Flexible structuring of Long Term Project Loans and amendments to guidelines on Sale of Financial Assets to Securitisation Companies (SC) / Reconstruction Companies (SC).
Do hereby direct that the returns in Form GE-II for the first three quarters of the current financial year (i.e. 1st April, 2015 to 30th June, 2015; 1st July, 2015 to 30 September, 2015 and 1st October, 2015 to 31st December, 2015) are required to be filed by 7th March, 2016.
In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy (2015-2020), the Director General of Foreign Trade hereby makes amendment in Annexure-1 of Appendix 2A in the table as under:
