E India CA

Professional Updates for Chartered Accountants

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Income Disclosure Scheme – Effective Tax Rate is 45% only (not 31%)

Income Disclosure Scheme - Effective Tax Rate is 45% only (not 31%) Effective Tax Rate is 45% only (not 31%) under Income Disclosure Scheme 2016 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. Question ...

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PF Body Removes 5-Day Grace Period for Contribution by Employers

The Employees' Provident Fund Organisation (EPFO) has removed the grace period of five days given to employers to deposit the provident fund (PF) contribution. Earlier, employers paid the PF contributions and administrative charges within 15 days of close of every month and had a grace period of five days. The grace period was to r...

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CBDT extends last date of filing ITR to 31st October 2015

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 1st October, 2015 Subject: Extension of date for filing of Income tax returns and tax audit reports to 31st October 2015 - regarding The issue of extension of last date for e-filing returns of income and audit r...

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CBDT substitutes Rule 29C of Income Tax Rules, 1962 w.e.f 1.10.2015

CBDT has substituted Rule 29C of Income Tax Rules, 1962 w.e.f 1.10.2015, which relates to furnishing of Form No. 15G and Form No. 15H u/s 197A of the Income Tax Act, 1961. Government Simplifies the Format and Procedure for Self Declaration in form No.15G or 15H to Reduce the Cost of Compliance and Ease the Compliance Burden for bot...

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DVAT – Online Form Delhi Sugam-2 (DS2) before each vehicle entry

GOVERNMENT OF NATIONAL CAPITAL TERRITORY OF DELHI DEPARTMENT OF TRADE & TAXES VYAPAR BHAWAN: I.P. ESTATE: NEW DELHI -110 002  No. F.7(433)/Policy-II/VAT/2012/PF/714-721  Dated: 10/09/2015  CIRCULAR No. 25 of  2015-16   Department of Trade and Taxes, Government of National Capital Territory of Delhi has vide notificati...

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No Extension of Date for Filing of Returns due by 30th Sept. for AY 2015-16

No Extension of Date for Filing of Returns due by 30th September for Assessment Year 2015-16 for Certain Categories of Assessees Including Companies, and Firms and, Individuals Engaged in Proprietary Business/Profession etc whose Accounts are required to be Audited; Taxpayers are Advised to file their Returns Well in Time to Avoid La...

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Notification No. RBI/2015-16/137 (Delhi)

Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalising Distressed Assets in the Economy - Review of the Guidelines on Joint Lenders' Forum (JLF) and Corrective Action Plan (CAP) RBI/2015-16/137 DNBR.CC.PD.No.066/03.10.01/2015-16 July 23, 2015 To All Non-Ba...

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Notification No. RBI/2015-16/136 (Delhi)

Implementation of Section 51-A of Unlawful Activities Prevention Act (UAPA), 1967-17th and 18th Update of Al-Qaida Sanctions List RBI/2015-16/136 DBR.AML.No.1223/14.06.001/2015-16 July 22, 2015 The Chairpersons/ CEOs of all Scheduled Commercial Banks/ Regional Rural Banks/ Local Area Banks/ All India Financial Institutions/ all N...