In exercise of the powers conferred by section 15 of the Government Savings Banks Act, 1873 (5 of 1873), the Central Government hereby makes the following rules further to amend the Post Office Time Deposit Rules, 1981, namely:-
In the Post Office (Monthly Income Account) Rules, 1987, in rule 8, in sub-rule (1), after clause (l), the following clause shall be inserted, namely: (m) 7.8 per cent. per annum in respect of deposits made on or after the 1st day of April, 2016.
Central Government hereby notifies that the subscriptions made to the fund on or after the 1st day of April, 2016 and the balances at the credit of the subscriber shall bear interest at the rate of 8.1 per cent. per annum.
In the Sukanya Samriddhi Account Rules, 2014, in rule 7, in sub-rule (1), after first proviso, the following proviso shall be inserted, namely:-Provided that in the case of a deposit made under these rules on or after the 1st day of April, 2016, it shall bear at the rate of 8.6 per cent per annum from the date of deposit.
In the Kisan Vikas Patra Rules, 2014 (hereinafter referred to as the said rules), in rule 16, in sub-rule (1), for the words eight years and four months, the words nine years and two months shall be substituted. In the said rules, in rule 17, in sub-rule (3), the premature encashment value of Certificates purchased on or after 1.4.2016 but on or before 30.6.2016 shall be:-
(a) fees, fines and penalties; (b) receipts from Printed Educational Material; (c) receipts from Scrap or Waste paper; (d) receipts from other Government Bodies; (e) interest income from surplus funds kept in bank accounts and fixed deposits; (f) rent received from let out of properties; (g) royalty or License fees for providing technical knowledge and infrastructure; (h) dividend earned from Maharashtra Knowledge Corporation Ltd; (i) capital gains, if any, from disposal of assets as per Government financial guideline and rules of Government of Maharashtra.
Companies (Share Capital and Debentures) Second Amendment Rules, 2016 Provided that where all members of a company agree, the offer for buy-back may remain open for a period less than fifteen days.
In exercise of the powers conferred by clause (46) of section I0 of the income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Andhra Pradesh Electricity Regulatory Commission, a Commission constituted under the Andhra Pradesh Electricity Reform Act, 1998 (Government of Andhra Pradesh Act No.30 of 1998). in respect of the following specified income arising to that Commission.
Seeks to further amend notification No. 12/2012-Customs, dated the 17th March, 2012 so as to (i) continue BCD @ 25% on import of wheat beyond 31.03.2016 upto 30.06. 2016 (ii) retain BCD @ 40% on import of Ghee Butter and Butteroil, beyond 31.03.2016 for a period upto 30.09.2016
It is to bring to kind notice of all that section 36 A of the Delhi Value Added Tax Act, 2004 requires every person, at the time of making payment or credit to a contractor, to deduct TDS @ 4%, if the contractor is a registered dealer or @ 6% in case the contractor is unregistered.
