{"id":2309,"date":"2016-03-15T12:37:40","date_gmt":"2016-03-15T07:07:40","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2309"},"modified":"2021-12-07T12:58:43","modified_gmt":"2021-12-07T07:28:43","slug":"corporate-and-professional-update-dated-march-15-2016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-dated-march-15-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE DATED MARCH 15, 2016"},"content":{"rendered":"

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CORPORATE AND PROFESSIONAL UPDATE DATED MARCH 15, 2016<\/span><\/h2>\n

The\u00a0Reserve Bank of India\u00a0(RBI<\/a>), it seems, has finally lent ear to millions of such prospective account holders. It has simplified the KYC documentation to make account opening less onerous.<\/p>\n

Moving ‘The Real Estate (Regulation and Development) Bill, 2015’ for consideration and passage, Urban Development Minister M Venkaiah Naidu said it aims to protect the interests of buyers and bring more transparency in the sector.<\/p>\n

RBI<\/strong><\/span> <\/a>has issued Know Your Customer Direction, 2016 for all Banks or entities licensed u\/s 22 of Banking Regulation Act, 1949, Etc.<\/p>\n

Govt. approves guidelines to promote electronic payments<\/p>\n

Central Government issues instructions for reduction of government litigation through withdrawal of appeal by the department before CESTAT by instruction no. F.No.390\/Misc.\/163\/2010-JC-<\/p>\n

Income Tax:<\/strong><\/span>\u00a0TDS u\/s 195 – the assessee can not be said to have paid the consideration for use of or the right to use copyright but has simply purchased the copyrighted work embedded in the CD- ROM which can be said to be sale of \u2018good\u2019 by the owner. The consideration paid by the assessee thus as per the clauses of DTAA can not be said to be royalty<\/p>\n

EPS:<\/strong><\/span>\u00a0The Union Govt. after exempting EPF<\/a>, considering a proposal to make it mandatory for Employer to route most of its saving to Employee Pension Scheme (EPS) a move for creating pensioned society.<\/p>\n

TRANSFER PRICING<\/strong> <\/span>– COMPUTATION OF ARM’S LENGTH PRICE: Where assessee had benchmarked its international transactions on TNMM basis and TPO had neither disputed assessee’s claim that TNMM was most appropriate method, nor comparables selected by assessee, it was not open for TPO to reject benchmarking done by assessee and make adhoc ALP additions in value of international transactions – [2016] 67 16 (Mumbai – Trib.)<\/p>\n

6% Tax on online advertisement \/ Google Tax, Such provisions are applicable from 1st June, 2016.The levy clearly is targeted to tax various online advertisements companies like YouTube , Google , Facebook , Twitter etc.<\/p>\n

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:\u00a0singh@carajput.com<\/a>\u00a0or call at 9555555480<\/p>\n","protected":false},"excerpt":{"rendered":"

CORPORATE AND PROFESSIONAL UPDATE DATED MARCH 15, 2016 The\u00a0Reserve Bank of India\u00a0(RBI), it seems, has finally lent ear to millions of such prospective account holders. It has simplified the KYC documentation to make account opening less onerous. Moving ‘The Real Estate (Regulation and Development) Bill, 2015’ for consideration and passage, Urban Development Minister M Venkaiah …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4,1,11,15],"tags":[4332,4334,4333,5,4331,9038,4083],"class_list":["post-2309","post","type-post","status-publish","format-standard","hentry","category-companies-act-roc","category-direct-tax","category-gst","category-income-tax","category-indirect-tax","category-others","category-rbi-consultancy","category-tds","tag-the-real-estate-regulation-and-development-bill","tag-employee-pension-scheme-eps","tag-entities-licensed-us-22-of-banking-regulation-act-1949","tag-income-tax","tag-kyc-documentation","tag-service-tax","tag-tds-us-195"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t