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Updates of the day...

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Updates Of the Day
1.Congratulations to Hon'ble CA. Manoj Fadnis, President, ICAI who have been elected as Deputy President, CAPA.
2.Supreme Court has directed RBI to no fresh permission/ renewal of permission shall be granted by RBI/AD banks respectively till the policy is reviewed.
3.Adjustment of cenvat credit of education cess and secondary and higher education cess now allowed with the payment of service Tax.Notification no. 22/2015 dated 29.10.2015.
4.New MCA Form AOC 4 CFS would be available for filing w.e.f 1st Nov 2015 with new versions of form AOC 4 (XBRL) and AOC 4.
5.Date for filing of DVAT Form 09 has been extended upto 15.12.2015 vide circular No. 28 dated 30.10.2015.
6.It is mandatory to issue notice under section 143(2) subsequently to return filed under section 148 of the Income Tax Act, 1961. [PR. CIT vs. Shri Jai Shiv Shankar Traders Private Limited., (Delhi High Court)
7.Hamdard eligible for exemption under section 10(23C) (iv) for business held in trust, as dominant purpose of assessee is charitable. (Delhi High Court)
8.Government notifies tolerance limit of 1% and 3% under new Transfer Pricing Rule.Notification No.. 86/2015.
9.CBDT has set up a committee with a view to simplify the provisions of the Income tax Act, 1961, under the chairmanship of Justice R.V. Easwar, (Retd.)
10.CBDT clarified that extended due date of October 31, 2015 is also applicable for e-filing of audit reports.
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