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CBDT has notified the Income Tax

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  • CBDT has notified the Income Tax

    CBDT has notified the Income Tax (16th Amendment), Rules, 2015, which shall come into force on the date of their publication in the Official Gazette to incorporate “range concept” and “use of multi-year data” to reduce litigation on transfer pricing issues.

    ITAT was correct in dismissing the appeal observing, that apart from making a mere reference to information received from the investigation wing, the AO mechanically issued notice under Section 148 of the Act. (CIT vs. G and G Pharma India Ltd.), [Delhi High Court]

    CBEC vide circular number 1009/16/2015-CX dated 23.10.2015 has directed its officers not to exercise their powers for launching prosecution unless evasion of tax is equal or more than Rs. 1 Cr.

    State finance ministers are scheduled to meet on November 20 to discuss the model goods and services tax (GST) law.

    Delhi VAT- form DP-1 filing date further extended to Nov 23, 2015 notification number F.3(352)/Policy/VAT/2013/929-40 dated 21.10.2015.

    MCA notifies rules for recruitment of additional director in SFIO under sub-section (5) of Section 211 of the Companies Act, 2013.
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