{"id":737,"date":"2015-12-19T11:07:43","date_gmt":"2015-12-19T11:07:43","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=737"},"modified":"2020-10-15T15:54:01","modified_gmt":"2020-10-15T15:54:01","slug":"corporate-professional-update-december-17-2015","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-professional-update-december-17-2015\/","title":{"rendered":"CORPORATE &#038; PROFESSIONAL UPDATE DECEMBER 17, 2015"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><span style=\"color: #000080;\"><strong>CORPORATE &amp; PROFESSIONAL UPDATE DECEMBER 17, 2015<\/strong><\/span><\/h2>\n<figure id=\"attachment_3111\" aria-describedby=\"caption-attachment-3111\" style=\"width: 606px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/12\/achieve-your-goal.png\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-3111\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2015\/12\/achieve-your-goal.png\" alt=\"www.caindelhiindia.com; Achieve your Goals\" width=\"606\" height=\"285\" \/><\/a><figcaption id=\"caption-attachment-3111\" class=\"wp-caption-text\">www.caindelhiindia.com; Achieve your Goals<\/figcaption><\/figure>\n<ul style=\"text-align: justify;\">\n<li>India and Japan signs a Protocol for amending existing Convention for avoidance of double taxation and for prevention of fiscal evasion.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>CBDT has simplified the procedure for Form No. 15G &amp; 15H\u00a0for submitting a declaration as laid down in Rule 29C of the Income Tax Rules.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Reassessment without application of mind and examining the facts is invalid and liable to quash [Unique Metal Industries vs. ITO (ITAT Delhi)].<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>CBDT has simplified the procedure for form no.15G and 15H\u00a0for submitting a declaration as laid down in rule 29C of the Income Tax Rules.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>CBDT has simplified the process of online rectification of incorrect TDS details filed in the Income Tax Return.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Levy of interest on late payment of duty by providing it in subordinate regulations would be deemed as ultra vires if the same not provided by provisions of act. [Supreme Court; Shree Bhagwati Steel Rolling Mills].<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Penalty u\/s 86(19) under DVAT cannot be imposed without affording an opportunity to\u00a0 the dealer to produce documents before impounding the vehicle. [Appellate Tribunal, Value Added Tax, Delhi: M\/s Hindustan Unilever Limited].<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Indirect tax collections rose 34.3 per cent in the first eight months of 2015- 2016, led by high excise collections, signaling a pick- up in economic activity.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>MCA\u00a0has modified the\u00a0versions\u00a0of\u00a0e-Form\u00a0GNL-4;\u00a0Form INC-28;\u00a0Form CRA-2;\u00a0Form INC-2;\u00a0Form ADJ;\u00a0Form FC-1;\u00a0Form FC-4\u00a0and\u00a0Form AOC-CFS\u00a0w.e.f\u00a0 \u00a009.12.2015.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Cheque bounces cases to be filed at the Place of Presentation of Cheque &amp; not the place of issue. Negotiable Instruments (Amendment) Bill passed on 07.12.2015.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Disallowance u\/s 14A while computing book profit u\/s 115JB permitted, covered in explanation to Section115JB (2) [ITAT Mumbai: DCIT vs. Viraj Profiles Ltd.].<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Employers likely to pay service-tax on forfeiture of retention bonus or deposits of employees.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Anti-dumping duty cannot be charged for gap period, the period between lapse of provisional duty and imposition of final duty: Supreme Court: Comm of Customs vs. G.M. Exports &amp; Others.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Today (12.2015) is last date for payment of Advance Tax- 75% by Companies and 60% by others, in Challan No. ITNS -280.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Presumption of existence of an international transaction not allowed in transfer pricing provision. [Delhi High Court: Maruti Suzuki India Ltd. vs. CIT].<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Food vouchers given by employers to their workers are not \u2018goods\u2019 which attract local tax, and the company which facilitates this service is not liable to pay any tax.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Service Tax Department (ACES) has rejected some XML file for ST-3 return for the period 2015-2016 April-September, due to errors. please contact\u00a0<a href=\"mailto:aces.servicedesk@icegate.gov.in\">servicedesk@icegate.gov.in<\/a>or 1800 425 4251.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>SEBI had introduced the facility of\u00a0\u201cBasic Services Demat Account\u201d\u00a0(BSDA) with limited services for eligible individuals\u00a0in the year 2012 with the objective of achieving wider financial inclusion and to encourage holding of demat accounts.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Today (12.2015) is last date for submission of self-attested copy of PAN Card of Members\/Firms to ICAI.\u00a0members of Northern Region :\u00a0<a href=\"mailto:nropan@icai.in\">nropan@icai.in<\/a><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Central Madhya Pradesh Gramin Bank invites application from CA firms for\u00a0 EMPANELMENT OF CONCURRENT AUDITORS for conducting concurrent audit work.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances; Hope the information will assist you in your Professional\u00a0endeavors. For query or help, contact:\u00a0<a href=\"mailto:info@carajput.com\">info@caindelhiindia.com<\/a>\u00a0or call at\u00a0011-233 433 33.<\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE &amp; PROFESSIONAL UPDATE DECEMBER 17, 2015 India and Japan signs a Protocol for amending existing Convention for avoidance of double taxation and for prevention of fiscal evasion. CBDT has simplified the procedure for Form No. 15G &amp; 15H\u00a0for submitting a declaration as laid down in Rule 29C of the Income Tax Rules. Reassessment without &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":[161,146],"tags":[566,502,501,572,179,180,561,214,181,194,541,562,560,538],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/737"}],"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=737"}],"version-history":[{"count":5,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/737\/revisions"}],"predecessor-version":[{"id":3112,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/737\/revisions\/3112"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}