MENU

Posted On:  7 months ago


Companies to furnish Statement of Financial Transactions to Income Tax Department`

As per Rule 114E of the Income Tax Rules 1962, for and from 2016-­17, all companies have to be furnish SFT in respect of certain specified transactions as tabulated below

article author CS Perila Sheth

Posted On:  7 months ago


Launch of Post Assessment – Revision u/s 263/264 Proceedings module of Income Tax Business Application (ITBA)

This is in reference to the subject mentioned above. The functionality for passing revision order is now available in the Revision module of ITBA. 2. The Revision u/s 263/264 Proceedings module of the ITBA can be accessed by entering the following URL in the browser: https://itba.incometax.gov.in The path for Revision module is: ITBA Portal -> Login -> Modules -> Revision

article author One Roof Consultant

Posted On:  7 months ago


Launch of Income Tax Business Application (ITBA) – TPO Proceedings Module

This is in reference to the subject mentioned above. The functionality for TPO Proceedings (Process flow from recording the reference particulars and initiation of TPO Proceedings to passing of TPO order) is now available in the TPO Proceedings Module of Income Tax Business Application (ITBA).

article author One Roof Consultant

Posted On:  7 months ago


Filing of the VAT Audit Report in Form 704 for year 2015-16

Section 61(1) of the Maharashtra Value Added Tax Act, 2002 provides that all eligible dealers shall submit the Audit Report in Form- 704. As provided under rule 17A (1) of the Maharashtra Value Added Tax Rules, 2005, this form is to be uploaded electronically. Rule 66 of the said Rules mandates that such Audit Report in Form e-704 shall be submitted within nine months and fifteen days of the end of the year to which such report relates. Accordingly the prescribed date for filing of Form e-704

article author One Roof Consultant

Posted On:  7 months ago


Reg. effective rate of excise duty of 12.5% on Motor Vehicles

Seeks to further amend Notification No. 12/2012-Central Excise dated 17.03.2012 to prescribe an effective rate of excise duty of 12.5% on Motor Vehicles falling under heading 8702 90 21, 8702 90 22, 8702 90 28 and 8702 90 29 of the First Schedule of the Central Exicse Tariff Act, 1985.

article author One Roof Consultant

Posted On:  7 months ago


Direct Tax Collections up to December, 2016 show Growth of 12.01 %

The figures for Direct Tax collections up to December, 2016 show that revenue net of refunds is Rs. 5.53 lakh crore which is 12.01% more than the net collections for the corresponding period last year. This collection is 65.3% of the total Budget Estimates of Direct Taxes for Financial Year 20 16-17.

article author One Roof Consultant

Posted On:  7 months ago


Forms related to various regulations of the Chartered Accountants Regulations, 1988

Forms related to various regulations of the Chartered Accountants Regulations, 1988 Documents to be submitted in case of delay in submission of following Forms

article author One Roof Consultant

Posted On:  7 months ago


How to file Online RTI (Right To Information) application in India

After the implementation of the RTI Act 2005, a large number of RTI applications have been received by the public authorities.  The RTI applications were sent through post or in person by the citizens. This became on e of the challenging task for the public authorities to manage and monitor such bulk amount of RTI applications.

article author CA Chirag Chauhan

Posted On:  7 months ago


Origin of lawyer’s dress code in India

A black coat & white coat dressing always brings to our mind the professionals aspiring law. This dressing makes a lawyer or an advocate distinct from the others. But then why Black & White only in this world full of colours is something that can come to our mind. The black coat and white coat dressing derives its origin from the 17th century.  It runs back to the time when Queen Mary II passed away due to smallpox in 1694. Her widower the bisexual King William III ordered all the judges and lawyers to wear black gowns as a token of public mourning.

article author Dharmesh Jain

Posted On:  7 months ago


Working Group to implement Article 1 of Trade Facilitation Agreement

The undersigned has been directed to inform that Board has constituted a Working Group for effective implementation of Article 1 of ‘Trade Facilitation Agreement, The nominated members and Terms of reference for the Working Group are as hereunder

article author One Roof Consultant

Posted On:  7 months ago


Customs Rate of exchange of foreign currency WEF 06.01.2017

In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.  147/2016-CUSTOMS (N.T.), dated 15th December, 2016, except as respects things done or omitted to be done before such supersession, the Central Board of Excise and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa,

article author One Roof Consultant

Posted On:  7 months ago


Special Economic Zones (Amendment) Rules, 2016

In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely

article author One Roof Consultant

Posted On:  7 months ago


Scheduled bank approved for EPF Contribution and to Receive Cheques

In exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’ Provident Funds Scheme, 1952, namely

article author One Roof Consultant

Posted On:  7 months ago


Amendment to Schedule Entry D-5 and D-10 of MVAT Act

In pursuance of the powers conferred by clause (a) of entry 5 of Schedule ‘D’ appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra, hereby notifies with effect from the date 1st January 2017 the area and the period as shown in column (2) and column (3) respectively of the Schedule appended herewith, to be area and period covered for the purpose of clause (a) of the said entry 5, namely

article author One Roof Consultant

Posted On:  7 months ago


TATA Translational Cancer Research Centre notified U/s. 35(1)(ii)

It is hereby notified for general information that the organization TATA Translational Cancer Research Centre (‘TTCRC’) under the aegis of TATA Medical Centre Trust (PAN:- AABTT2222Q) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5D of the Income-tax Rules, 1962 (said Rules), from Assessment year 2016-2017 onwards in the category of ‘Scientific Research Association’, subject to the following conditions, namely

article author One Roof Consultant

Posted On:  7 months ago


Guidance Note on Board Evaluation

The Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”) contain broad provisions on Board Evaluation i.e. evaluation of the performance of: (i) the Board as a whole, (ii) individual directors (including independent directors and Chairperson) and (iii) various Committees of the The provisions also specify responsibilities of various persons / committees for conduct of such evaluation and certain disclosure requirements as a part of the listed entity’s corporate governance obligations.

article author One Roof Consultant

Posted On:  7 months ago


SEBI LODR (Third Amendment) Regulations, 2016

In exercise of the powers conferred by section 11, sub-section (2) of section 11A and section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992) read with section 31 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, namely

article author CS Perila Sheth

Posted On:  7 months ago


Exclusively listed companies of De-recognized/Non-operational/exited Stock Exchanges placed in the Dissemination Board (DB)

1. SEBI vide circular dated October 10, 2016 provided a period of three months to the ELCs on the DB to submit an action plan to list or to provide exit to shareholders to the designated stock exchanges. 2. In light of representation received seeking extension of time to submit plan of action, it is decided to extend the time till March 31, 2017. All other conditions as mentioned in the SEBI circular dated October 10, 2016 remain unchanged

article author CS Perila Sheth

Posted On:  7 months ago


SEBI (Alternative Investment Funds) (Amendment) Regulations, 2016

In exercise of the powers conferred by sub­section (1) of section 30 read with sub-section (1) of section 11, clause (ba) and clause (c) of sub-section (2) of section 11 and sub-sections (1) and (1 B) of section 12 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012, namely

article author One Roof Consultant

Posted On:  7 months ago


SEBI (Portfolio Managers) (Amendment) Regulations, 2016

In exercise of the powers conferred by section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Board hereby makes the following regulations to further amend the Securities and Exchange Board of India (Portfolio Managers) Regulations, 1993, namely

article author CS Perila Sheth