Skip to main content

Updates of the day...

By
Updates Of the Day
1.NIRC of ICAI is organizing Seminar on FEMA on 19th Dec 2015 from 10AM to 5PM at NDMC Convention Centre, Opp Jantar Mantar, New Delhi.
2.NHAI Tax Free Bonds issue opens on 17.12.2015.Issue size - 10000Cr. Coupon Rates Retail 10 Years - 7.39% 15 Years - 7.60%.
3.DGFT had prescribed a procedure to be followed for claiming rewards under MEIS where exports had been made through EDI generated shipping bills between 01.04.2015 to 31.05.2015.
4.Anti-dumping duty cannot be charged for gap period, the period between lapse of provisional duty and imposition of final duty. [Supreme Court held In the case of Commissioner of Customs vs. G.M. Exports and Others].
5.Currency notes with anything written on them are also legal tender i.e. acceptable in market. Press Release 2015-2016/1400 dated 14.12.2015.
6.Date of filing CST Form 9 has been extended up to 15.01.2016 vide Circular No. 32 dated 15.12.2015.
7.Disallowance u/s 14A while computing book profit u/s 115JB permitted, covered in explanation to sec.115JB (2) [ITAT Mumbai: DCIT vs. Viraj Profiles Ltd].
8.The counsels have to inform to the ITAT about appeals of department having tax effect less than 10 lakhs by 18.12.2015.
9.CBDT has introduced the new facility of pre-filling TDS data while submitting online rectification. The new simplified process of online rectification of incorrect TDS details filed in the ITR.
10.CBDT mandates quoting of PAN for transactions exceeding Rs.2 lakhs regardless of the mode of payment with effect from 01.01.2016.
For more News Like us on https://www.facebook.com/caonlineofficial Or Subscribe on mail visit : www.caonline.in

Comments

Post a Comment

Popular posts from this blog

Household debt up, but India still lags emerging-market economies: RBI

By
  Although household debt in India is rising, driven by increased borrowing from the financial sector, it remains lower than in other emerging-market economies (EMEs), the Reserve Bank of India (RBI) said in its Financial Stability Report. It added that non-housing retail loans, largely taken for consumption, accounted for 55 per cent of total household debt.As of December 2024, India’s household debt-to-gross domestic product ratio stood at 41.9 per cent. “...Non-housing retail loans, which are mostly used for consumption purposes, formed 54.9 per cent of total household debt as of March 2025 and 25.7 per cent of disposable income as of March 2024. Moreover, the share of these loans has been growing consistently over the years, and their growth has outpaced that of both housing loans and agriculture and business loans,” the RBI said in its report.Housing loans, by contrast, made up 29 per cent of household debt, and their growth has remained steady. However, disaggregated data sho...
Post a Comment
Read more

External spillovers likely to hit India's financial system: RBI report

By
  While India’s growth remains insulated from global headwinds mainly due to buoyant domestic demand, the domestic financial system could, however, be impacted by external spillovers, the Reserve Bank of India (RBI) said in its half yearly Financial Stability Report published on Monday.Furthermore, the rising global trade disputes and intensifying geopolitical hostilities could negatively impact the domestic growth outlook and reduce the demand for bank credit, which has decelerated sharply. “Moreover, it could also lead to increased risk aversion among investors and further corrections in domestic equity markets, which despite the recent correction, remain at the high end of their historical range,” the report said.It noted that there is some build-up of stress, primarily in financial markets, on account of global spillovers, which is reflected in the marginal rise in the financial system stress indicator, an indicator of the stress level in the financial system, compared to its p...
Post a Comment
Read more

Healthy balance sheets augur well for economy: RBI Governor Sanjay Malhotra

By
  Large tariffs by the United States administration and elevated geopolitical risk have increased near-term global financial stability risks, and along with weather events pose downside risks to domestic growth, Reserve Bank of India(RBI) Governor Sanjay Malhotra said in the foreword to the Financial Stability Report released today.Noting that domestic growth momentum is buoyed by strong domestic drivers, sound macroeconomic fundamentals and prudent policies, Malhotra said: “External spillovers and weather-related events could pose downside risks to growth.”On the other hand, he said the outlook for inflation is benign, and there is greater confidence in the durable alignment of inflation with the Reserve Bank’s target.Commenting that the structural shifts reshaping the global economy are making policy intervention challenging, the Governor emphasised the need for central banks and financial sector regulators to remain vigilant, prudent and agile in safeguarding their economies and...
Post a Comment
Read more