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- MCA has extended the last date for filing of annual return and financial statements of the company filing from 29th October to 29th November 2016, notification coming very soon.
- CBDT had proactively released in April, 2016 time-series data relating to direct tax collections, number of taxpayers, cost of collection, etc., data of number of PAN allotted and data relating to distribution of income and tax payable in the returns for AY 2012-13.
- Ministry of finance issued Notification No. 99/2016 on 25th October, 2016 of the powers conferred by section 68 of the Prohibition of Benami Property Transactions Act, 1988.
- New revised double taxation avoidance agreement (DTAA) between India and republic of korea has been signed to avoid the burden of double taxation for taxpayers of two countries.Action of the AO in not giving reasons for not processing the refund application is “most disturbing” and stating ...Group M. [Media India Pvt. Ltd vs. UOI (Bombay High Court)].
- Under GST value and taxable value have to be given in GST returns as they may be different. Taxable value is to be given even if there is no consideration.
- MCA has revised Form AOC-4 with effect from 27th October 2016.
- ICAI invite applications for research work for National Economic Advisory Committee of ICAI.