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Income Tax Notification No. S.O. 3592(E), Dated: 30.11.2016
Income Tax Notification No. S.O. 3592(E), Dated: 30.11.201 MINISTRY OF FINANCE(Department of Revenue)NOTIFICATIONNew Delhi, the 30th November, 2016S.O. 3592(E).—Whereas by notifications of the Governm...
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New Black Money Scheme
Section 115BBE (Tax Treatment of Unexplained Cash): The following comparison will make it easier for you to understand the tax treatment in case of depositing unaccounted money and declaring it in you...
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No tax on jewellery acquired-out of disclosed sources or exempt income
Press Information BureauGovernment of IndiaMinistry of Finance01-December-2016 15:58 ISTGovernment clarifies that the apprehension sought to be created that the jewellery with the household which is a...
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No Limit on gold jewellery & ornaments holding from explained sources
Press Information BureauGovernment of IndiaMinistry of Finance01-December-2016 18:24 ISTVarious points clarified with respect to gold jewellery and ornaments; No limit on holding of gold jewellery or...
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Reduction in Coupon Rate on 54EC Bonds from 6% P.A. to 5.25% P.A.
NATIONAL HIGHWAYS AUTHORITY OF INDIAAn autonomous body under Ministry of Road Transport & Highways,Government of IndiaG-5 & 6, Sector-10, Dwarka, New Delhi-110075NOTICEReduction in Coupon Rateon 54EC...
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Complete Analysis of Taxation Laws (Second Amendment) Bill, 2016
1. proposed scheme Scheme namely, ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016’ (PMGKY) has been proposed in the Bill.The declarant under this regime shall be required...
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Section-wise analysis of Pradhan Mantri Garib Kalyan Yojana, 2016
199C1. Any person may make a declaration in respect of any income, in the form of cash or deposit in an account maintained by the person with specified entity on or before 01.04.2017.2. No deduction w...
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CBDT notifies rules for calculation of time period for Property declared: IDS, 2016
MINISTRY OF FINANCE(DEPARTMENT OF REVENUE)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATION No. 108/2016-INCOME TAXNew Delhi, the 29th November, 2016G.S.R. 1100(E).—In exercise of the powers conferred by cl...
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CBDT notifies forms & rules to furnish statement of income distributed by securitization trust
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATION No. 107/2016New Delhi, the 28th November, 2016INCOME-TAXS.O. 3573(E).-In exercise of the powers conferred by secti...
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Benami Transactions in nutshell
All you need to know about Benami Transactions With the Government bringing de-monetisation to curb black money. It has also been said by the Prime Minister that the next target of the Govt. would be...
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Lok Sabha Approves bill to tax cash deposit of black Money
Finance Minister Arun Jaitley has presented in Lok Sabha on 28.11.2016 THE TAXATION LAWS (SECOND AMENDMENT) BILL, 2016 to tax at higher rates with penalty, Cash Deposit in Bank accounts out of Black M...
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3 Years Rigorous Imprisonment With Fine to Then JCIT
Press Release New Delhi , 29.11.2016Three Years Rigorous Imprisonment With Fine of Rs. Three Lakh To Then Commissioner of Income TaxThe Special Judge for CBI Cases, Bangalore has convicted Shri V.P.Sh...
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The Taxation Laws (Second Amendment) Bill, 2016
AS INTRODUCED IN LOK SABHABill No. 299 of 2016THE TAXATION LAWS (SECOND AMENDMENT) BILL, 2016A BILLfurther to amend the Income-tax Act, 1961 and the Finance Act, 2016.BE it enacted by Parliament in th...
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Highlihgts of New Income Disclosure Scheme
Proposed Salient Features of New Income Disclosure Scheme for disclosing #blackmoney held as #cash 1. Applicable for undisclosed income in the form of Cash or deposits (including FD/RD,etc) held in in...
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Income Tax 2nd Amendment Bill 2016: Brief Analysis
Income Tax 2nd Amendment Bill 2016 An alternative scheme namely, the ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016‘ (PMGKY) is introduced in the Bill.The salient feature...
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Senior Citizen Savings Schemes – Taxation and Status
Press Information BureauGovernment of IndiaMinistry of Finance25-November-2016 17:20 ISTSenior Citizen Savings SchemesSenior Citizens Saving Scheme, 2004 is a scheme of Department of Economic Affairs,...
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Measures to effectively tackle black money issue
Press Information BureauGovernment of IndiaMinistry of Finance25-November-2016 17:16 ISTMeasures to effectively tackle the issue of black moneyAnalysis of seizure of valuables and admission of undiscl...
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Interest income on Gold Monetisation Deposit Certificates is exempt
Press Information BureauGovernment of IndiaMinistry of Finance25-November-2016 17:25 ISTNorms on gold monetisation schemeGovernment has recently issued norms on gold monetisation scheme. Based on the...
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Insolvency &Bankruptcy Board notifies 2 Insolvency Regulations
Dated: 23-November-2016Insolvency and Bankruptcy Board (IBBI) of India notifies two Regulations; The Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professi...
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CBDT Signs Four Unilateral Advance Pricing Agreements
Press Information BureauGovernment of IndiaMinistry of Finance23-November-2016 18:27 ISTCBDT Signs Four Unilateral Advance Pricing Agreements pertaining to various sectors of the economy including pha...