Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 28th April, 2016 PRESS RELEASE Subject: Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind …
General Circular No. 04/2016 F. No.01/01/2009-CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhavan, Dr R.P. Road, New Delhi Dated: 27th April, 2016 To All Regional Directors, All Registrars of Companies, All Stakeholders. Subject: Clarification with regard to Companies (Accounting Standards) Amendment Rules …
The Supreme Court in its recent judgment has held that tips collected by the hotel from customers and distributed to employees are not salary for the purpose of TDS under Section 192. Case Law Details: Civil Appeal Nos. 4435-37 of 2016 ITC Limited Gurgaon (Appellant) versus Commissioner of IT (TDS) Delhi (Respondent) …
Changes in FCRA Rules As per Foreign Contribution (Regulation) Amendment Rules, 2015 notified in Gazette of India on 14.12.2015, the Bank shall report to the Central Government within forty-eight hours any transaction in respect of receipt and utilization of any foreign contribution by any person whether or not …
The Measures taken by the Government to Curb Black Money in the Country Ministry of Finance Press Release dated 27/04/2016 The Government has taken several measures to effectively deal with the issue of black money, particularly black money stashed away abroad. Such measures include policy-level initiatives, more effective …
Tax Evasion by Indian Citizens Named in Panama Papers Ministry of Finance Press Release dated 27/04/2016 Recently, information about certain offshore entities held by various Indian persons has appeared in media. Such information is attributed to be part of ‘Panama Papers’ leaks. The International Consortium of Investigative Journalists …
