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1. SEBI has notified the amended the Securities And Exchange Board Of India (Listing Obligations And Disclosure Requirements) (Second Amendment) Regulations, 2016 to introduce regulation  relating to ‘Dividend Distribution Policy’.
2. Today (15.07.16) is Last Date to file TCS return by all Deducters in form 27EQ for Quarter ending June, 2016.
3. Time limitation of 6 years is also overruled by Section 197(c) of Finance Act, 2016. Now, AO can open the case of any year.
4. The Government of India has given Relaxation of time schedule for making payments under the Scheme the Income Declaration Scheme 2016:  (I) a minimum 25% of the tax, paid by 30.11.2016; (ii) further 25% by 31.3.2017; and balance on or before 30.9.2017.
5. The income tax department will start sending notices to settle over 300,000 pending tax disputes starting September-2016.
6. CBDT has clarified in Q No. 6 of Circular 27 of 2016 dated 14th July, 2016  that the tax rate will be 45% only and tax has to be paid out of disclosed income to get the immunity.

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