F. No. 142/11/2015-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 23rd December, 2015 Subject: – Draft Guiding Principles for determination of Place of Effective Management (POEM) of a Company. Section 6(3) of the Income-tax Act, 1961, prior to its amendment by the Finance Act, 2015, provided that…
DetailsInstruction Ito. 1E1 /Z015 F. No.153 /12/2015-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) (TPL Division) *** New Delhi, the 23rd December, 2015 Subject: Applicability of Minimum Alternate Tax (MAT) on foreign companies for the period prior to 1.04.2015-reg On the issue of applicability of Minimum Alternate Tax…
DetailsEmployees’ Provident Fund Organisation (EPFO), a Statutory Body, Ministry of Labour and Employment ranks among the world’s largest social security organizations in terms of membership and fund size. The number of accounts is around 15 crore and almost 5 crore subscribers are regularly contributing to the fund. The organization also has been settling more than 1.00 crore claims annually…
DetailsThe Reserve Bank of India has created a dedicated helpline (Email) for start-ups in India in order to offer guidance/assistance to them for undertaking cross-border transactions within the ambit of the regulatory framework. While seeking guidance, the enterprises should provide complete information to the Reserve Bank and mention the specific issues on which they need…
DetailsThe Reserve Bank of India (RBI) has cancelled the certificate of registration of the following three non-banking financial companies (NBFCs) in exercise of the powers conferred on it under Section 45-IA (6) of the Reserve Bank of India Act, 1934. Sr. No. Company’s Name Address of Registered Office Certificate of Registration No. & Date Date…
DetailsCircular No. 22/2015 F.No.279/Misc./140/201.5-1L1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 17thh December. 2015 Subject:- Allowability of employer’s contribution to funds for the welfare of employees in terms of section 4313(b) of the Income Tax Act. As per section 438 of the Act certain deductions arc…
DetailsThe Central Board of Excise and Customs, Department of Revenue, Ministry of Finance, Government of India has taken a number of initiatives to facilitate trade and to resolve disputes. A slew of measures were taken to enable effective and speedy dispute resolution and to facilitate the trade and industry. Some of the important initiatives are: (1)…
DetailsSection 195 of the Income-tax Act (‘the Act’)empowers the Central Board of Direct Taxes to capture information in respect of payments made to non-residents, whether chargeable to tax or not. Rule 37 BB of the Income-tax Rules has been amended to strike a balance between reducing the burden of compliance and collection of information under…
DetailsIssue to open on 17th December 2015 and close on 31st December 2015 NHAI plans to raise funds through public issue of tax free, secured, redeemable non-convertible bonds with Face Value of Rs 1,000 each for an amount of Rs 1,000 crore with an option to retain over subscription of upto additional Rs 9,000 crore,…
DetailsThe Central Board of Direct Taxes (CBDT) has issued a Circular revising the monetary limits for filing of appeals by the Department with the objective of reducing litigation as a part of its initiatives to reduce grievances of the taxpayers. The monetary limits for filing of appeals by the Department before the Income Tax Appellate…
Details