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Posted On:  5 months ago


Analysis of CAP-II reports regarding the no. of assessees, filing of returns etc. and the discrepancy in the reports as on 31/12/2016

The analysis of the CAP-II reports shows various serious discrepancies regarding the of assessees, filing of e-returns and paper returns and the total no. of returns filed which was also indicated in the earlier letter of the Pr. DGIT(Logistics) as referred above(copy enclosed).

article author One Roof Consultant

Posted On:  5 months ago


Digital payment promotion gets a boost

The Government’s efforts to give a boost to the digital payment systems and the cashless economy, post-demonetization have generated enthusiastic response from the people. People from different age groups, occupations and different walks of life have taken part in a big way in the Lucky Grahak Yojana and Digi-dhan Vyapar Yojana giving a fillip to digital transactions.

article author One Roof Consultant

Posted On:  5 months ago


CBDT issues a set of 12 FAQs on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity to declare such income and pay tax, surcharge and penalty totalling in all to 49.9 percent of such declared income and make a mandatory deposit of not less than 25% of such income in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016

article author One Roof Consultant

Posted On:  5 months ago


Enhancement of minimum import price on Areca nuts to Rs. 251/- per Kg

S.O. (E): In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government hereby amends the Import Policy Conditions of arecanut under Exim Code 0802 80 of Chapter 8 of ITC (EIS) 2012, Schedule 1 (Import Policy) as under:

article author One Roof Consultant

Posted On:  5 months ago


Submission of Life Certificate for Pensioners extended to 28.02.2017

The date of submission of life certificate by pensioners under Employees’ Pension Scheme 1995 was extended upto 15.01.2017 vide Head Office letter no. Pension-1/17( 1)2016/jeevan Praman/22750 dated 28.11.2016.

article author One Roof Consultant

Posted On:  5 months ago


Large Pendency of Inspection Reports due in the Directorate of Income Tax (IT)

Status of Inspection Reports due in the Directorate of Income Tax (IT) was recently reviewed. It was observed that the prescribed number of Inspections are not being carried out by the field authorities. This is borne out by the fact that as against 2349 Reports of the Inspections to be carried out during 2015-16 for the work done in 2014-15 that were due to be sent to the Directorate of IT by 15.04.2016, only 599 reports were received till 10.01.2017. While, apart from Kochi (62.3%); Ahmadabad (58.9%); and Guwahati (57.4%)

article author One Roof Consultant

Posted On:  5 months ago


Additional charges in grade of CCIT- Order No. 9 of 2017

The following officers in the grade of CCIT are, hereby, ordered to hold the charge (s) indicated against their names in addition to the substantive charge/ additional charge(s) being held by them, with immediate effect and until further orders:-

article author One Roof Consultant

Posted On:  5 months ago


Import of point of sale (PoS) terminal devices, its cells & batteries and labelling requirements thereof

The government has vide notification No. 35/2016-Central Excise, dated 28.11.16 exempted excise duty on Point of Sale (PoS) devices and also goods required for their manufacture. These devices are already exempted from customs duty. PoS devices are indispensable in a cashless digital payment ecosystem.

article author One Roof Consultant

Posted On:  5 months ago


States can’t dilute Real Estate Act

Minister of Housing and Urban Poverty Alleviation Shri M.Venkaiah Naidu today urged the States and Union Territories to rise to the occasion and implement the Real Estate (Regulation & Development) Act ,2016 from the first of May this year, as proposed in the Act. He addressed a meeting of Chief Secretaries and senior officials of States and UTs convened by the Ministry of HUPA to discuss implementation of the Real Estate Act.

article author One Roof Consultant

Posted On:  5 months ago


Consolidated FDI Policy Circular 2017- Inviting comments from stakeholders

Department of Industrial Policy & Promotion issued a ‘Consolidated FDI Policy Circular (Circular 1 of 2010)‘ on 31/03/2010, compiling all the information on FDI policy at one place. The Circular subsumed all the earlier Press Notes/ Press Releases/

article author One Roof Consultant

Posted On:  5 months ago


Ministry of Finance denies any collaboration with the tainted UK based Note Printing Company

There have been reports in sections of media stating that the Union Government has compromised the national interest by collaborating with a tainted UK based Note Printing Company.

article author One Roof Consultant

Posted On:  5 months ago


Clarification on Indirect Transfer provision under Income Tax Act, 1961

Circular No. 41/2016 was issued on 21.12.2016 which dealt with clarification on Indirect Transfer provisions. After the issue of the aforementioned circular, representations have been received from various FPIs, FIIs, VCFs and other stakeholders.

article author One Roof Consultant

Posted On:  5 months ago


Pass Percentage CA Final Nov 2016. How to Check your Result

ICAI has changed the way to check your CA Final Result for November 2016 exams. Earlier, CA Final results used to be uploaded on icai.nic.in website. However, this time for Nov 2016, the exam results will be made available at http://icaiexam.icai.org/.

article author CA Chirag Chauhan

Posted On:  5 months ago


If tax payment made before due date but credited late then IDS 2016 is not invalid

Representations have been received from field authorities and stakeholders that there has been delay in payment of 1st instalment of tax, surcharge and penalty under the Income Declaration Scheme (the Scheme) in some cases owing to some technical errors in the system, non-deposit of cheque by collecting banks, payment made by filling wrong challan etc.

article author One Roof Consultant

Posted On:  5 months ago


Enhancement of withdrawal limits from ATMs and Current Accounts

Please refer to our circulars DCM (Plg) No. 1274, 1317 and 2142/10.27.00/2016- 17 dated November 14, 21 and 28 and December 30, 2016, respectively, on the above subject.

article author One Roof Consultant

Posted On:  5 months ago


Grant of Registration under DVAT and CST within one day

In partial modification of this department’s Circular No 06 of 2016-17 Dt 17-05-2016 and in keeping with the reforms being undertaken, under ‘Ease of Doing Business’ in Department of Trade and Taxes, GNCTD, it has been decided to further ease the procedure for grant of registration under DVAT & CST Act, as under

article author One Roof Consultant

Posted On:  5 months ago


Amendments effective from 15.01.2017 to the All Industry Rates of Duty Drawback

The Government considered representations, feedback and data related to the All Industry Rates (AIR) of Duty Drawback that took effect on 15.11.2016 and has notified certain changes vide Notification No. 03/2017-Customs (N.T.) dated 12.01.2017. These changes take effect from 15.01.2017. The notification should be downloaded from www.cbec.gov.in and perused. The changes made, inter-alia, include

article author One Roof Consultant

Posted On:  5 months ago


Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2017

In exercise of the powers conferred by section 31 of the Securities Contracts (Regulation) Act, 1956 read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992, the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, namely

article author One Roof Consultant

Posted On:  5 months ago


SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2017

In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby, makes the following regulations to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014, namely

article author One Roof Consultant

Posted On:  5 months ago


EPFO- List of Technical Suvidha Centres

In continuation of the office order of even number dated 30.12.2016 it is informed that the Unified Portal has been launched on 23.12.2016. Further, Technical Facilitation Centre called Technical Suvidha Centres under the monitoring of respective Ancilliary NOCs (ANOC) have also been set up. The e-mail addresses and contact details of the same are given below

article author One Roof Consultant