Supreme Court will track down the details of cases against MP’s & MLA’s that are pending since 2014. The aim of this action is to put a full stop on politicians facing criminal charges from contesting elections. As per the direction, a bench of Justices Rajan Gogoi and Navin Sinha faddish the criminal cases filed … Continue reading “Details of cases against MP’s & MLA’s to be track down by SC”
Securities and Exchange Board of India (SEBI) has banned 10 individuals as they were sending out fake Short Message Service (SMS) in bulk recommending people to purchase the shares of the company to pump up trading volumes in the shares of Supreme Tex Mart Ltd (STML). According to SEBI, the SMS was sent to innocent … Continue reading “10 Individuals banned by SEBI for Fraudulent Trade”
CBDT vide its notification dated 05/10/2016 has notified form no. 68 under Rule 129 of income tax rule, to apply to Assessing offier for (i) Immunity from penalty u/s 270A relating to “under reporting and misreporting of income” (ii) immunity from initiation of proceedings u/s 276C and 276 CC relating to willful attempt to avaid tax … Continue reading “CBDT notified form 68 to grant immunity from penalty u/s 270A, 276C and 276CC”
CBEC vide notification no. 127/2016-Customs dated 20th October 2016 in supersession of the notification no.124/2016-Customs dated 6th October 2016 , determines the revised rate of exchange of Conversion of foreign Currencies in to Indian currency in respect of Import and Export of goods in/from India. SNO. Foreign Currencies For Imported goods (per unit of foreign currency) For Exported Goods … Continue reading “CBEC revised rate of exchange of Foreign currency with effect from 21st October 2016”
Form LLP 3 (Information with regard to limited liability partnership agreement and changes, if any, made therein) and Form LLP 4 (Notice of appointment, cessation, change in name/ address/designation of a designated partner or partner. and consent to become a partner/designated partner ) w.e.f. 20th October 2016. Stakeholders are advised to check the latest version … Continue reading “MCA shall update LLP Forms”
CBEC vide notification 126/2016–Customs dated 14th October, 2016 has amended the notification 36/2001-Customs dated 3rd August, 2001 in respect of “fixation of tariff value of the Imported goods in India”. The following are the rates of Import against the said description of goods – Sno. Description of goods Tarrif value US $ per Metric Tonne … Continue reading “CBEC amended notification 36/2001-Customs in respect of ” fixation of tariff value of the Imported goods in India””
Section 194-I of the Income-tax Act, 1961 requires that tax be deducted at source at the prescribed rates from payment of any income by way of rent. Now the issue is whether section 194-I is applicable on lump sum lease premium paid by an assessee for acquiring long-term leasehold rights for land or any other … Continue reading “CBDT clarified that lump sum lease premium or one-time upfront lease charges are not liable for TDS under section 194-I of the Income tax Act 1961”
CBEC vide Notification No. 125 /2016-Customs (N.T) dated 13th October 2016 makes further amendments in Notification No. 63/94- Customs (NT), dated the 21st November, 1994 related to “Land Customs Stations and Routes for import and export of goods by land or inland water ways”. As per the said notification CBEC add following places as land … Continue reading “CBEC amend Notification no. 63/94-Custom related to “Land Customs Stations and Routes for import and export of goods by land or inland water ways”.”
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