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FINMIN LINES UP 16 PSUs FOR DISINVESTMENT

06 April, 2016

Finance ministry has drawn up a list of 16 public sector units ( PSUs), including Oil & Natural Gas Corp, Oil India and Coal India, for disinvestment in 2016- 17, which could fetch the exchequer ₹ 40,000 crore at current stock value.
INCOME TAX E-FILING VAULT ADDS MUSCLE TO TAX SECURITY

06 April, 2016

To ensure taxpayers are able to shield their e-filing against any fraudulent activity, the income tax department has introduced a new facility called e-filing vault.
EXP ON FOREIGN TRAVEL OF DIRECTORS DISALLOWED AS COMPANY HAD NO BUSINESS IN SUCH LOCATIONS

13 March, 2016

New Delhi 15.01.2016 (RDI): The honorable Bombay High Court in, Advance Power Display Systems Ltd. v. Commissioner of Income-tax-8, held that, where foreign buyer of assessee was situated in Singapore, expenditure incurred for travel to meet buyer in Singapore could only be allowed; and expenses incurred on travel to countries other than Singapore were to be disallowed
Union Budget 2016 updates

13 March, 2016

New Delhi, 3 March 2016 (RDI): 1. Introduction 1.1 The Finance Minister (FM) seems to be cheering the Prime minister's 'Make in India' initiative, not only on the manufacturing of tangible products but also on some of the intangible assets such as 'Patents'.

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