1. ICAI issues guidance note on reporting on fraud under section 143(12) of Companies Act, 2013 by auditor to central government.
2. Loans to medium enterprises, sanitation and renewable energy sectors to be covered under lending to priority sector as per revised RBI guidelines.
Extension of PDS Kerosene and Domestic LPG Subsidy Scheme, 2002 and Freight Subsidy (for Far flung Areas) Scheme, 2002
The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Shri Narendra Modi, has given its approval to extend the PDS Kerosene and Domestic LPG Subsidy Scheme, 2002 and Freight Subsidy (for far-flung areas) Scheme, 2002 for a period of one year that is up to 31st March, 2015.
The approval will help in reducing the under-recovery of the Oil Marketing Companies (OMCs).
The Government was providing a subsidy of Rs.22.58 per 14.2 kg. LPG cylinder and Rs.0.82 per litre on PDS Kerosene and Domestic LPG Subsidy Scheme, 2002. Besides, freight subsidy was also being provided to PDS Kerosene and Domestic LPG consumers in far-flung areas under the Freight Subsidy (for far-flung areas) Scheme, 2002. These two schemes ended on 31st March, 2014.
1. Refund of excess self-assessment paid by assessee was not eligible for interest as the provisions of Section 244A would not apply thereto. [Delhi High Court in case of CIT vs Engineers India Ltd].
2. Procedure for filing returns under Profession Tax, Luxury Tax & Sugarcane Purchase Tax Act after making payment by GRAS. [MVAT Trade Circular 3T of 20.02.2015].
3. MCA has notified and made available a new e-form GNL - 4 for filing w.e.f. 28th Feb, 2015 for the purpose of filing addendum for rectification of defects or incompleteness under the provisions of the Companies Act, 2013.
1. For computing TDS, employer to obtain from employee proof or particulars of prescribed claim (including claim for loss) in prescribed form & mode.
2. Penalty of Rs.1 Lakh for not furnishing information about payments to Non-residents whether these are chargeable to tax in India or not.
3. Clarity on tax rate for corporate in next three years have just come in, No reduction in corporate tax in FY 2015-16
1.5% reduction in 2016-17,
1.5% in 2017-18,
2% in 2018-19.
Did you by any chance looked at the terms and conditions of Tikshare. Copy and pasting is not allowed. I am afraid this could get you banned.
You are doing a great job no doubt but why dont you provide your views on these updates instead of pasting them here.
Thank you let the good work continue with a responsibility.
I dont think these are some copy paste. Yes, some are as I could see them on facebook groups. But, Ajay is doing great work. Let him continue.
But one thing, copy and pasting is strictly not allowed on Tikshare.
I wanted to make a consolidation of recent changes that are happening now days. You know every thing could not be written by us because we professionals don't have time.
I copy some content from government sites.
If you want I should type everything then I wil be unable to share such information, because I don't have sufficient time.
I apologise for that.
Ajay, the concept of Internet forums is to discuss something that we have doubt on. I do not think it is useful to copy and paste any information which is easily accesible by using Google.
We are here to discuss. No doubt you are doing great work.
Lets discuss something useful which is not discussed anywhere else.