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Updates of the Day

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1. CBDT sets up a committee to bring quality to assessment orders. Notification No. 225/246/2014/ITA.II.

 2. Income tax department will process and send refunds within 7 to 10 days to the taxpayers.

 3. Anonymous donation received by assessee would be exempt u/s 115BBC as the activity of the trust was spiritual not religious. [CIT vs. Bhagwan Shree Laxmi Narain Dham, High Court- Delhi]

 4. DVAT dealer to file online sugam-2 (DS2) before physical entry of goods in Delhi with effect 15th September 2015.

 5. Delhi government announces reward upto 10 Lacs scheme for informers on VAT providing vital inputs in the national capital.

 6. SEBI amends ICDR norms; allows participation of more anchor investors in public issue. Notification no.SEBI/LAD-NRO/GN/2015-16/18, 10-9-2015.

 7. MCA has released the Companies Filing of Documents and Forms in EBRL Rules, 2015, which shall come into force from the date of their publication in the Official Gazette.

 8. Last date for payment of Membership fee and COP fee of ICAI for 2015-2016 is September 30, 2015.
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