News Update

Sales Tax - 'sale price' apart from including consideration for sale, also includes value of any discount or rebate offered, which is to be deducted from sale price: SCGST - GoM on IT to review progress made by GSTN so far on SaturdayRailways inducts two digitally enabled LocomotivesADB loans USD 84 mn for improving water supply in Bhagalpur & GayaIAS Association delegation meets Dr Jitendra SinghFodder scam - Laloo pleads for bail; Jharkhand HC says NOIES officers to get new houses soonIndia successfully testifires N-capable ballistic missile ‘Dhanush’ from Naval Ship off Orissa coastIndian, Canadian PMs resolve to expedite BIPA & CEPA pactsCBDT notifies India-Kenya DTAA (See 'http://www.taxindiainternational.com/')GST on 'Commission' Received in Convertible Foreign Exchange – Part-I (See 'TOG Insight' in Taxongo.com)Electoral Bond Scheme to open on Mar 1 for 10 daysNDMA organises workshop on action plan to deal with heat waveRailways organises suppliers' Samvad; Digital Challan launchedChanges in the business connection provision (See 'Edit' in 'taxindiainternational.com')I-T - Department has no right to re-examine entire issue from a different angle, if returned income of assessee is accepted barring minor adjustment of expenditure claim: HCGST Council meeting - pointers from Industry for considerationCus - CBLR, 2013 - Prohibition - Even orders passed under Regulation 23 are appealable u/s 129A of CA, 1962: HCCertain grey areas in Taxability of 'Bill to - Ship to' TransactionsST - Refund - Banking services and technical inspection & certification services are co-related with export; are Input services: HCGovt notifies Electoral Bonds; Political parties can encash bonds only through bankBig relief for Indian students joining MBBS abroad; Govt grants them exemption from qualifying NEETFinance Commission invites inputs for widening of tax baseCanada to aid India in research effortsCivil Services Day - Four priority programmes listed for PM's AwardsI-T - When assessee diverted sum received for procuring import licences for purchase of shares, such advance is to be construed as deemed dividend u/s 2(22)(e): HCI-T - If Revenue initiates penalty proceedings after six months of receipt of adjudicatory order, such proceeding is beyond period of limitation imposed u/s 275: HCGST Council to meet on March 10 through video conferencing; likely to approve new GSTR design and many amendment in GST lawsPNB fraud - ED & Income Tax continue to seize luxury vehicles & assets of Nirav Modi & ChoksiBank Frauds - Taxpayers tired to pay for 'New Civilisation'!I-T - It is clear case of barking up wrong tree if Revenue records show no tax arrears against assessee: HCIntermediary services to foreign parties-inter-state or intra-state supply?
Untitled Document
SAVINGS SCHEME NOTIFICATION
8% Savings Scheme folds up
Govt notifies Electoral Bond Scheme for political funding

Senior Citizen Savings Scheme Rules amended to make it 50 years in place of 'irrespective of the above age limit'

National Savings Time Deposit - Rule 5 amended to make 100 as 200

National Savings Monthly Income Account Rules amended to substitute 100 by 1500

National Savings Certificate - Lesser benefit if resident becomes non-resident

NSC interest Rates revised

KVP interest rates revised

Rates for FDs in post office revised

8.3 % rate notified for Sukanya Scheme

Post office (Monthly Income Account) Rules, 1987 amended to notify 7.5% rate

Senior Citizen Savings Scheme - 8.3% Rate of interest after July 1, 2017 notified

Post Office Recurring Deposit Rules amended to reduce interest rate

Deposit of old demonetized notes of Rs. 500 and Rs. 1000 in small Savings scheme
Revision of interest rates for Small Savings Schemes
Revision of interest rates for Small Savings Schemes-discontinuation of physical pre-printed NSC and KVP certificates - regarding
North Block notifies 8.1% interest rate for General Provident Funds
Govt notifies establishment of Senior Citizen Welfare Fund; Huge amount of unclaimed funds lying with PPF, post office schemes and others to be transferred to New Fund
Govt notifies Sukanya Samriddhi Account Rules
Revision of interest rates for Small Savings Schemes.
Sr Citizens Savings Scheme amended
Sr Citizen Savings Scheme - 9.3% interest rate fixed
9.2% interest rate fixed for Sukanya Samriddhi Scheme
8.7% interest rate notified for Fiscal 2015-16
Govt notifies Sukanya Samridhi Account Rules, 2014
Public Provident Fund - Interest rate hiked to 8.7%
National Savings Certificates (IX Issue) - Rate of interest hiked
National Savings Certificates (VIII Issue) - Rate of interest hiked
National Savings Certificates (IX Issue) Rules, 2011 Notified
Post Office (Monthly Income Account) Scheme - Rate of interest hiked
Senior Citizen Savings Scheme - Rate of interest hiked
Post Office Recurring Deposit Scheme - Rate of interest hiked
Post Office Deposit Scheme - Rate of Interest hiked from April 1, 2014
Public Provident Fund Scheme, 1968 and Senior Citizen Savings Scheme, 2004 - Amendments in Rules
Senior Citizen Savings Scheme: Rule amended to allow spouse if sole nominee, to continue account
Notification
MoF notifies 8% interest rate for Savings (Taxable) Bonds, 2003