FAQs on Digital Signature

What is a Digital Signature Certificate? Digital Signature Certificates (DSC) are the digital equivalent (that is electronic format) of physical or paper certificates. Examples of physical certificates are drivers’ licenses, passports or membership cards. Certificates serve as proof of identity of an individual for a certain purpose; for example, a driver’s license identifies someone who…

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Govt. received 638 declarations declaring undisclosed Foreign Assets amounting to Rs 3770 Crore under The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015

638 number of declarations have been received under the compliance window declaring undisclosed foreign assets amounting to Rs 3770 crore under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (the Act). These figures are subject to final reconciliation. The officer designated to receive the declarations worked till midnight on…

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Regularisation of assets held abroad by a person resident in India under Foreign Exchange Management Act, 1999

The Government of India has enacted The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (Black Money Act) on May 26, 2015 to address the issue of undisclosed assets held abroad. It provides for separate taxation of income and assets acquired abroad from income not disclosed but chargeable to tax…

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Now deaf and dumb are also entitled to Transport Allowance exemption upto INR 3200/- per month

Earlier only blind people were entitled to Transport Allowance exemption upto INR 3200/- per month and other were entitled to exemption upto INR 1600/- per month. Now CBDT vide notification no. 75/2015/F. No.142/02/2015-TPL dt. 23rd Sep-2015 has increased the limit of exemption upto INR 3200/- per month for deaf and dump people also. Exemption Table…

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CBEC’s Clarification regarding binding nature of circular and instructions

F.No.96/90/2015-CX.1 Government of India Ministry of Finance, Dept. of Revenue Central Board of Excise and Customs New Delhi ********* dated the 21.09.2015 To Principal Chief Commissioner / Chief Commissioner of Central Excise, Service Tax and Customs (All), Principal Commissioner of Central Excise, Service Tax and Customs (holding charge of    Chief Commissioner) (All), Web-master, CBEC Madam/sir,…

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Forward Markets Commission (FMC) with SEBI

Regulation of commodities derivates today came under Securities and Exchange Board of India (SEBI)’s jurisdiction, as the Forward Markets Commission (FMC) formally merged with the SEBI. The Union Finance Minister Shri Arun Jaitley formalized the merger by ringing the Customary Bell in Mumbai today. Speaking on the occasion, the Finance Minister Shri Jaitley said that…

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