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Updates of the day...

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Updates Of the Day
1.SEBI and the Bangladesh Securities and Exchange Commission (BSEC) signed a (MoU) on bilateral cooperation and technical assistance at Dhaka, Bangladesh on November 22, 2015.
2.Custom and Excise duty exemption to EOUs on raw materials/parts consumed in manufacture of certain ships/vessels and cleared to DTA. Notification No. 55/2015.
3.DVAT Authorities have issued circular regarding the status of the forms downloaded by the dealers for central statutory forms/declarations which are mainly required by the dealers for making inter-state purchases at concessional rate or for inward stock transfer.
4.Only companies are eligible for deduction u/s 80IA(4) under Income Tax Act. [ITAT Chennai: ACIT vs. B. Dhanasekaran]
5.Excess of expenditure over trust’s income for a previous year can be claimed as income applied in subsequent previous year. [ITAT Bangalore: Karnataka Food and Civil Supplies Ltd]
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