{"id":2627,"date":"2016-08-04T15:37:43","date_gmt":"2016-08-04T10:07:43","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=2627"},"modified":"2021-08-13T17:21:54","modified_gmt":"2021-08-13T11:51:54","slug":"corporate-and-professional-update-aug-5-2016","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE AUG 5, 2016"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69ea46ea93c11\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69ea46ea93c11\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4'><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#CORPORATE_AND_PROFESSIONAL_UPDATE_AUG_5_2016\" title=\"CORPORATE AND PROFESSIONAL UPDATE AUG 5, 2016\">CORPORATE AND PROFESSIONAL UPDATE AUG 5, 2016<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#DIRECT_TAX\" title=\"DIRECT TAX:\">DIRECT TAX:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#INDIRECT_TAX\" title=\"INDIRECT TAX:\">INDIRECT TAX:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#Company_Law\" title=\"Company Law:\">Company Law:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#OTHER_UPDATE\" title=\"OTHER UPDATE :\">OTHER UPDATE :<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#Key_Dates\" title=\"Key Dates:\">Key Dates:<\/a><ul class='ez-toc-list-level-5'><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5'><li class='ez-toc-heading-level-5'><ul class='ez-toc-list-level-5'><li class='ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#_%C2%B7_Filing_of_ITR_returns_by_Individuals_HUF_Without_Audit_05082016\" title=\"\u00a0\u00b7 \u00a0Filing of ITR returns by Individuals, HUF (Without Audit):\u00a005\/08\/2016\">\u00a0\u00b7 \u00a0Filing of ITR returns by Individuals, HUF (Without Audit):\u00a005\/08\/2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#%C2%B7_Filing_of_ITR_returns_by_Firms_AOP_BOI_Without_audit_05082016\" title=\"\u00b7 \u00a0Filing of ITR returns by Firms, AOP, BOI (Without audit):\u00a005\/08\/2016\">\u00b7 \u00a0Filing of ITR returns by Firms, AOP, BOI (Without audit):\u00a005\/08\/2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#%C2%B7_E-Payment_of_Service_Tax_for_July_by_Companies_06082016\" title=\"\u00b7 \u00a0 E-Payment of Service Tax for July by Companies:\u00a006\/08\/2016\">\u00b7 \u00a0 E-Payment of Service Tax for July by Companies:\u00a006\/08\/2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#%C2%B7_Extension_of_last_date_of_filing_of_Income_tax_returns_for_the_FY_2015-2016_AY_2016-17_from31072016_to_05082016_For_J_K_assessees_last_date_is_31082016\" title=\"\u00b7 Extension of last date of filing of Income tax \u00a0returns for the FY 2015-2016 (AY 2016-17) from31.07.2016 to 05.08.2016. For J&amp;K assessees last date is\u00a031.08.2016.\">\u00b7 Extension of last date of filing of Income tax \u00a0returns for the FY 2015-2016 (AY 2016-17) from31.07.2016 to 05.08.2016. For J&amp;K assessees last date is\u00a031.08.2016.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#%C2%B7_Extension_to_29102016_of_Last_Date_of_filing_of_e-forms_AOC-4_AOC-4_XBRL_AOC-4_CFS_MGT-7_Circular_No082016_Dated_29072016\" title=\"\u00b7 \u00a0Extension to\u00a029.10.2016, of Last Date of filing of e-forms AOC-4 , AOC-4 XBRL, AOC-4 (CFS), &amp; MGT-7. Circular No.08\/2016 Dated 29.07.2016.\">\u00b7 \u00a0Extension to\u00a029.10.2016, of Last Date of filing of e-forms AOC-4 , AOC-4 XBRL, AOC-4 (CFS), &amp; MGT-7. Circular No.08\/2016 Dated 29.07.2016.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#%C2%B7_Public_Servants_Annual_Assets_Liabilities_Return_Filing_due_date_extended_to_31122016\" title=\"\u00b7 \u00a0Public Servants Annual Assets Liabilities Return Filing due date extended to\u00a031.12.2016\">\u00b7 \u00a0Public Servants Annual Assets Liabilities Return Filing due date extended to\u00a031.12.2016<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-5'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-aug-5-2016\/#%C2%B7_15-08-16_is_the_last_date_for_Issue_of_TDS_certificates_in_form_16A_for_quarter_ended_30-6-16_by_all_deductors\" title=\"\u00b7 \u00a015-08-16\u00a0is the last date for Issue of TDS certificates in form 16A for quarter ended 30-6-16 by all deductors.\">\u00b7 \u00a015-08-16\u00a0is the last date for Issue of TDS certificates in form 16A for quarter ended 30-6-16 by all deductors.<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h4 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE_AUG_5_2016\"><\/span>CORPORATE AND PROFESSIONAL UPDATE AUG 5, 2016<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/07\/date-extended.jpg\" alt=\"date-extended\" width=\"510\" height=\"349\" \/><\/p>\n<p style=\"text-align: justify;\"><strong>Professional Update For the Day:<\/strong><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"DIRECT_TAX\"><\/span><u><\/u><strong><u>DIRECT TAX:<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Assessee having eligible industry and availing deduction under section 80-IB, will not be entitled for same in respect of income from DEPB and DEPB Premium.<\/li>\n<li>Personal property of directors can&#8217;t be used to recover import duty payable by company: HC<\/li>\n<li><a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income Tax<\/a>:\u00a0\u00a0MAT &#8211; computation of the book profit under explanation to section 115JA &#8211; the question of increasing the net profit by the amount of lease equalization charge would not arise, the same being not in the nature of a reserve\u00a0&#8211;\u00a0Gujarat High Court in case of\u00a0[PCIT Vadodara Vs. Sun Pharmaceutical Industries Ltd]<\/li>\n<li>ITAT: Applies Sec. 50C to builder&#8217;s land-transfer; Cites long-term holding intention to earn appreciation\u00a0[TS-415-ITAT-2016(Mum)]<\/li>\n<li>SC: Reverses Bombay HC, restores reassessment notice absent proof of bad-debts write-off\u00a0[TS-410-SC-2016]<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><strong><u>INDIRECT TAX:<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Constitution (122nd) Amendment Bill, 2014 enabling levy of <a href=\"https:\/\/carajput.com\/sebi-consulting.php\">GST<\/a> by Central Govt. as well as State Govts. is finally passed by Rajya Sabha with 100% in favour of the same. Now it shall go back to Lok Sabha to approve the amendments made by Rajya Sabha. Thereafter it shall be ratified by at least 16 States before being presented to the Hon&#8217;ble President for his assent.<\/li>\n<li>Order passed by DG allowing confidentiality of documents couldn&#8217;t be subject matter of appeal: CCI.<\/li>\n<li>No <a href=\"https:\/\/carajput.com\/services-tax-registration.php\">service tax<\/a> could be levied if there was a transfer of right to use goods irrespective of the fact that the transfer was non-exclusive.<\/li>\n<li>CESTAT Bangalore in the below citied case set aside the penalty imposed, due to delay in payment of service tax, by the revisionary authority\u00a0since the service tax along with interest has been paid voluntarily by the appellant.(\u00a0S-Mac Security Services Pvt. Ltd. Vs. Commissioner of Service Tax)<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Company_Law\"><\/span><strong><u>Company Law:<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Extension of last date of filing Form AOC-4, <a href=\"https:\/\/carajput.com\/services-xbrl.php\">AOC-4 XBRL<\/a>, AOC-4 CFS &amp; MGT-7 under the Companies Act, 2013.<\/li>\n<li>MCA issues The Companies (Accounts) Amendment Rules, 2016. MCA Notification dated 27.07.2016.<\/li>\n<li>MCA releases Companies (Incorporation) Third Amendment Rules, 2016. MCA Notification dated 27.07.2016.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"OTHER_UPDATE\"><\/span><strong><u>OTHER UPDATE :<\/u><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Starting ICAI Certificate Course on Forex &amp; Treasury Management in Delhi on\u00a020.08.2016, visit\u00a0<a href=\"https:\/\/www.icai.org\/post.html?post_id=3552&amp;\">https:\/\/www.icai.org\/post.html?post_id=3552 &amp;<\/a>c_id=266Fee @17,500 #0120-3045945<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>New <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">RBI<\/a> norms rule out banking licences for big corporates.<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Result of IPCC announced is Ist group &#8211; 9.18%, IInd group &#8211; 7.06%, both group &#8211; 4.78%.Congratulations to all passed out students<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><u>Key Dates<\/u><u>:<\/u><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h5 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"_%C2%B7_Filing_of_ITR_returns_by_Individuals_HUF_Without_Audit_05082016\"><\/span>\u00a0\u00b7 \u00a0Filing of <a href=\"https:\/\/carajput.com\/income-tax-services.php\">ITR returns<\/a> by Individuals,<a href=\"https:\/\/carajput.com\/services\/hindu-undivided-family.php\"> HUF<\/a> (Without Audit):\u00a005\/08\/2016<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"%C2%B7_Filing_of_ITR_returns_by_Firms_AOP_BOI_Without_audit_05082016\"><\/span>\u00b7 \u00a0Filing of ITR returns by Firms, AOP, BOI (Without audit):\u00a005\/08\/2016<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"%C2%B7_E-Payment_of_Service_Tax_for_July_by_Companies_06082016\"><\/span>\u00b7 \u00a0 E-Payment of Service Tax for July by Companies:\u00a006\/08\/2016<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"%C2%B7_Extension_of_last_date_of_filing_of_Income_tax_returns_for_the_FY_2015-2016_AY_2016-17_from31072016_to_05082016_For_J_K_assessees_last_date_is_31082016\"><\/span>\u00b7 Extension of last date of filing of <a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income tax \u00a0returns<\/a> for the FY 2015-2016 (AY 2016-17) from31.07.2016 to 05.08.2016. For J&amp;K assessees last date is\u00a031.08.2016.<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"%C2%B7_Extension_to_29102016_of_Last_Date_of_filing_of_e-forms_AOC-4_AOC-4_XBRL_AOC-4_CFS_MGT-7_Circular_No082016_Dated_29072016\"><\/span>\u00b7 \u00a0Extension to\u00a029.10.2016, of Last Date of filing of e-forms AOC-4 , AOC-4 XBRL, AOC-4 (CFS), &amp; MGT-7. Circular No.08\/2016 Dated 29.07.2016.<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"%C2%B7_Public_Servants_Annual_Assets_Liabilities_Return_Filing_due_date_extended_to_31122016\"><\/span>\u00b7 \u00a0Public Servants Annual Assets Liabilities Return Filing due date extended to\u00a031.12.2016<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<h5 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"%C2%B7_15-08-16_is_the_last_date_for_Issue_of_TDS_certificates_in_form_16A_for_quarter_ended_30-6-16_by_all_deductors\"><\/span>\u00b7 \u00a015-08-16\u00a0is the last date for Issue of <a href=\"https:\/\/carajput.com\/tds.php\">TDS certificates<\/a> in form 16A for quarter ended 30-6-16 by all deductors.<span class=\"ez-toc-section-end\"><\/span><\/h5>\n<p style=\"text-align: justify;\">\u201cWatch your thoughts, they become words. Watch your words, they become actions. Watch your actions, they become habits. Watch your habits, they become character. Watch your character, it becomes your destiny.\u201d<\/p>\n<p style=\"text-align: justify;\">&#8221; Zindagi to apne dum par hi ji jati hai, dusron ke kandhon par to sirf janaaze utha karte hain!&#8221;<\/p>\n<p style=\"text-align: justify;\">We look forward for your valuable comments.\u00a0<a href=\"https:\/\/carajput.com\">www.carajput.com<\/a><\/p>\n<p style=\"text-align: justify;\"><strong>FOR\u00a0 FURTHER \u00a0QUERIES\u00a0 CONTACT\u00a0US:<\/strong><\/p>\n<p style=\"text-align: justify;\">W: www.carajput.com \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 E: <a href=\"mailto:singh@carajput.com\">singh@carajput.com<\/a> \u00a0\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0T:011-233-4-33333 ,\u00a0 9-555-555-480<!--more--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CORPORATE AND PROFESSIONAL UPDATE AUG 5, 2016 Professional Update For the Day: DIRECT TAX: Assessee having eligible industry and availing deduction under section 80-IB, will not be entitled for same in respect of income from DEPB and DEPB Premium. Personal property of directors can&#8217;t be used to recover import duty payable by company: HC Income &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[150,172,9,4,15],"tags":[9037,5,6,9038,322,9022],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2627"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=2627"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2627\/revisions"}],"predecessor-version":[{"id":15698,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/2627\/revisions\/15698"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=2627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=2627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=2627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}