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1. Assessing Officers advised by CBDT not to reopen past assessments merely on the ground that the current year’s turnover has increased, due to use of digital means, as a result of Demonetization. Because reason to believe and not the reason to suspect is the premise behind S.147-Circular no. 40/2016 dated 09-12-2016.
2. Direct Tax Collections for November, 2016 show growth of 15.12 %. This collection is 48.67% of the total budget estimates of Direct Tax.
3. SEBI had issued Circular regarding streamlining the process for acquisition of shares pursuant to tender officer made for takeover, Buy Back and Delisting of Securities CIRCULAR CFD/DCR2/ CIR/P/2016/131 December 09, 2016.
4. The Government will waive service tax on debit and credit card transactions of up to Rs. 2,000 to promote digital transactions amid cash crunch following the withdrawal of old Rs. 500 and 1,000 banknotes.
5. GST Migration for Punjab VAT dealers to start from 16.12.2016. As (GST) is likely to be implemented with effect from April 1, 2017.
6. RBI Allows Banks to Open Account with OTPs. The Reserve Bank of India has amended customer authentication rules to allow banks to open new accounts using one-time pins.
2. Direct Tax Collections for November, 2016 show growth of 15.12 %. This collection is 48.67% of the total budget estimates of Direct Tax.
3. SEBI had issued Circular regarding streamlining the process for acquisition of shares pursuant to tender officer made for takeover, Buy Back and Delisting of Securities CIRCULAR CFD/DCR2/ CIR/P/2016/131 December 09, 2016.
4. The Government will waive service tax on debit and credit card transactions of up to Rs. 2,000 to promote digital transactions amid cash crunch following the withdrawal of old Rs. 500 and 1,000 banknotes.
5. GST Migration for Punjab VAT dealers to start from 16.12.2016. As (GST) is likely to be implemented with effect from April 1, 2017.
6. RBI Allows Banks to Open Account with OTPs. The Reserve Bank of India has amended customer authentication rules to allow banks to open new accounts using one-time pins.