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Updates of the day...

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Updates Of the Day
1.RBI has relaxed the conditions of facilities for residents for hedging of foreign currency borrowings.
2.W.e.f. 15th November, 2015 ‘Swachh Bharat Cess’ @ 0.5% will apply on value of all taxable services and effective rate of service tax will be 14.5%.
3.No TDS liability u/s 194A on interest paid which is compensatory in nature. [ITAT Chennai held In the case of The ACIT vs. M/s. Trimex Industries (P) Ltd.].
4.CIT not authorized to verify charitable activities of trust while granting registration u/s 12AA: [Jaipal Singh Sharma Trust vs. CIT (ITAT Delhi)].
5.Government approved for amending the Double Taxation Avoidance Convention (DTAC) signed between India and Turkmenistan.
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