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MCA vide its circular dated 14/2015 dated 28th October 2015 extended the due
date of filing the annual return for companies.
A Non-Resident Indian may subscribe to National Pension System governed and administered
by Pension Fund Regulatory and Development Authority (PFRDA), provided such subscriptions are
made through normal banking channels
All LLPs which have received Foreign Direct Investment in the previous year(s) including the current year shall submit to the Reserve Bank of India, on or before the 15th day of July of each year, a report titled ‘Annual Return on Foreign Liabilities and Assets’ as specified by the Reserve Bank from time to time.
Hon’ble Delhi High Court directs CBDT to notify Income tax Return forms on or before beginning of assessment years, however refuses to extend due date of filing income tax returns and tax audit report for Assessment Year 2015-16.
Government accepts the report of the A.P. Shah Committee as regards inapplicability of MAT provisions prior to 1.4.2015 in cases where there is no permanent establishment.
MCA vide its circular number 12/2015 dated September 01, 2015 has further extended the last date of filing of Form CRA-4 without any penalty/late fee upto 30th September, 2015.
In a surprise move yesterday ,HDFC Bank has cut its base rate by 35 bps to 9.35%. This base rate reduction may compel other banks to re-look at their lending rates and follow suit.
CBDT has announced new norms for granting reward to informants leading to tax recovery from the defaulters. As per the new norms, the informant will be entitled to reward equivalent to 10% of the tax recovery directly attributable to the information supplied by the informant, subject to a ceiling of Rs. 15 lakh.
CBDT has directed that Additional Commissioners of Income-tax and Joint Commissioners of Income-tax shall perform the functions of Assessing Officers under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
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