{"id":1968,"date":"2016-04-13T05:46:59","date_gmt":"2016-04-13T05:46:59","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=1968"},"modified":"2020-10-13T07:25:56","modified_gmt":"2020-10-13T07:25:56","slug":"corporate-and-professional-update-april-2-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-april-2-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE APRIL 2, 2016"},"content":{"rendered":"<h3 style=\"text-align: justify;\"><span style=\"color: #000080;\">CORPORATE AND PROFESSIONAL UPDATE APRIL 2, 2016<\/span><\/h3>\n<figure id=\"attachment_1969\" aria-describedby=\"caption-attachment-1969\" style=\"width: 546px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/download.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-1969\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/04\/download.jpg\" alt=\"www.caindelhiindia.com; Corporate updates\" width=\"546\" height=\"508\" \/><\/a><figcaption id=\"caption-attachment-1969\" class=\"wp-caption-text\">www.caindelhiindia.com; Corporate updates<\/figcaption><\/figure>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>DIRECT TAX:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/caindelhiindia.com\/service\/income-tax-return-filing\">Income Tax ;<\/a>\u00a0Tax Dept notifies new ITRs\u00a0: People with an income of more than Rs. 50 lakh per annum and having the pleasure of owning a yacht, aircraft or valuable jewellery will now have to disclose these costly assets with the I-T department notifying a new set of Income Tax Return (ITR) forms for assessment year 2016-17<\/li>\n<li>Income Tax:\u00a0First time home buyers from April 1<sup>st<\/sup> will get additional tax benefit for purchase of residential properties of value up to Rs 50 lakh. The government&#8217;s proposal coming into force from April 1<sup>st <\/sup>\u00a0is\u00a0 aimed at promoting its &#8216;housing for all&#8217; scheme and bolster the real estate sector which is facing a huge slowdown for last three-four years.)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>INDIRECT TAX:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li><span style=\"color: #00ccff;\"><strong>Service Tax :<\/strong><\/span> CBEC specifies &#8216;point of taxation&#8217; for change in reverse charge liability POINT OF TAXATION (SECOND AMENDMENT) RULES, 2016 \u2013 AMENDMENT IN RULE 7 NOTIFICATION NO.21\/2016-ST,\u00a0 DATED 30-3-2016.<\/li>\n<li><span style=\"color: #00ccff;\"><strong>Service Tax :<\/strong> <\/span>Since company is a separate and independent entity, service tax dues payable by director (or director&#8217;s proprietorship firm) cannot be recovered from company; hence, attachment of company&#8217;s bank account was raised.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"color: #ff6600;\"><strong>Key Dates:<\/strong><\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li>Payment of TDS u\/s 194IA deducted on purchase of property\/TCS collected in March:\u00a007\/04\/2016<\/li>\n<li>Submission of Forms received in March to IT Commissioner:\u00a007\/04\/2016- Form No. 27C(TCS)<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">\u00a0<strong>&#8220;A seed grows with no sound,<\/strong><strong>\u00a0<\/strong><strong>but a tree falls with huge noise. Destruction has noise, but creation is quiet.<\/strong><strong>\u00a0<\/strong><strong>This is the power of silence&#8221;<\/strong><strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\">We look forward for your valuable comments.\u00a0 <a href=\"https:\/\/www.caindelhiindia.com\">www.caindelhiindia.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE APRIL 2, 2016 DIRECT TAX: Income Tax ;\u00a0Tax Dept notifies new ITRs\u00a0: People with an income of more than Rs. 50 lakh per annum and having the pleasure of owning a yacht, aircraft or valuable jewellery will now have to disclose these costly assets with the I-T department notifying a new &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[142,146],"tags":[566,502,501,569,179,545,214,549,560,550,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1968"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=1968"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1968\/revisions"}],"predecessor-version":[{"id":2927,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/1968\/revisions\/2927"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=1968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=1968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=1968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}