Daily Archive: Friday, March 18, 2016

Interest rates reduced for Small Savings Schemes-NSC, PPF, KVP, Sukanya Samriddhi etc

Author: | Categories: Small Savings Scheme No comments
Interest rates revision for Small Savings Schemes-Interest rates reduced for NSC, PPF, KVP, Sukanya Samriddhi, Senior Citizen, Monthly income  etc for 1st quarter FY 2016-17 F.No. 1/04/2016-NS .II Government of India Ministry of Finance Depa’rtment of Economic Affairs (Budget Division) North -Block , New Delhi Dated: 18th March, 2016

 

Reassessment proceedings cannot be resorted to only to examine the facts of a case

Author: | Categories: Income Tax, ITAT No comments
Reassessment proceedings cannot be resorted to only to examine the facts of a case, no matter how desirable that be unless there is a reason to believe, rather than suspect, that an income has escaped assessment.  Case Details: Income Tax Appellate Tribunal, New Delhi ITA No.3052/Del./2013 (AY:2004-05) M/s. Excellent Land

 

Government clarifies issues relating to imposition of Excise Duty on articles of Jewellery with simplified procedures.

Author: | Categories: Excise/Custom No comments
Government clarifies to the Jewellery Industry about the issues relating to imposition of Excise Duty on articles of Jewellery with simplified procedures. Ministry of Finance Press Release dated 18/03/2016 In the General Budget for 2016-17, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input

 

Senior Citizens Welfare Fund Rules 2016. Every Institution to transfer unclaimed amounts to be used for promoting welfare of Senior /older citizens

Author: | Categories: Finance Ministry No comments
Senior Citizens Welfare Fund Rules 2016  Government of India Ministry of Finance Department of Economic Affairs New Delhi, the 18th March,2016 NOTIFICATION G.S.R (E) In exercise of the powers conferred by section 128 of the Finance Act, 2015, 20 of 2015 the Government hereby makes the following rules, namely:-

 

Holding Period of capital assets for conversion of bond, debentures etc. into shares of company-Rule 8AA

Author: | Categories: Income Tax No comments
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE CENTRAL BOARD OF DIRECT TAXES Notification No. 18/2016 New Delhi, the 17th March, 2016 S.O. 1146 (E).- In exercise of the powers conferred by section 2, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central

 

Real Estate (Regulation and Development) Act, 2016-Role of Chartered Accountants

Author: | Categories: CA CS CMA No comments
Real Estate (Regulation and Development) Act, 2016  has been passed by the Lok Sabha on 15/03/2018. The Bill seeks to streamline and regulate the real estate project working by incorporating various measures to safeguard general public by prescribing adequate procedures and penal provisions. Recognising the skills of the Chartered