The Government of India, vide Notification No. G.S.R. 180(E), dated 17th February, 2016 defined ‘startup’ under Startup India initiative, and has declared that a certificate of eligibility shall be required by such ‘startup’ for availing tax benefits under the Income Tax Act, 1961.
(1) There shall be constituted a Service known as the Indian Revenue Service (Customs and Central Excise) Group ‘A’ consisting of persons appointed to the Service under rule 5. (2) All the posts included in the Service shall be classified as Group ‘A’ posts.
Following amendments have been made in the Maharashtra Value Added Tax Rules, 2005 which is effective from 01 .04.2016: Rule 8 (Application for registration of dealers liable to tax) Any dealer liable to pay tax shall (including voluntary registration) submit a registration application electronically on www.mahavat.gov.in in Form 101 along with Form 105 (to be submitted […]
In exercise of the powers conferred by sub-sections (3) and (4) of section 13 of the Central Sales Tax Act, 1956 (Act No.74 of 1956), and of all other powers enabling it in this behalf; the Government of Maharashtra is hereby pleased to make the following rules further to amend the Central Sales Tax (Bombay) Rules, 1957, namely :‑
Telecom Ministry vide notification No. G.S.R. 436(E) dated 22.04.2016 mandates Panic button in new mobile handset w.e.f. 1st January, 2017 and GPS in new mobile hand set w.e.f. 1st January, 2018.
The Central Government has accorded its in-principle approval to the draft amendments in the Chartered Accountants Regulations, 1988 arising out of the Revised Scheme of Education and Training approved by the Council of the Institute.
It has also come to the notice of the RBI that the customers receive telephone calls relating to their winning lotteries/prizes etc. and depositing money in an unknown account, following which the amount of lottery would be remitted to them or credited to the account they would advise. The customers believing such fraudulent messages remit the required amount apart from divulging details of their accounts to the fraudsters.
IAS is defined and regulated by SEBI under the SEBI (Investment Advisors) Regulations, 2013, and entities offering these activities need to be registered with SEBI. In view of the same it is advised that henceforth, banks cannot undertake IAS departmentally. Accordingly, banks desirous of offering these services may do so either through a separate subsidiary set up for the purpose or one of the existing subsidiaries after ensuring that there is an arm’s length relationship between the bank and the subsidiary.
It has been decided that requirement of manufacturer certificate from OEMs in case of retrofitment of vehicles, after purchase, shall be dispensed with. Instead the certificate from District Road Transport Officer, as per annexure, would be sufficient for applying to this Department in the prescribed Performa alongwith remaining documents/papers as mentioned in the scheme for obtaining excise duty concession certificate from the Department of Heavy Industry.
Government had issued a notification dated 10th February 2016 regarding rules for withdrawal from EPF Funds by the members. Under the revised rules, the employee was permitted to withdraw the employees’ share from the fund (which is 12% of the wages). However, it was prescribed that the employers’ share of contribution towards the Provident Fund […]
