Supreme Court Lays Down Principles Governing Joint Trials in Criminal Cases under CrPC and BNSS || Karnataka HC: Person Joining Festivals of Another Religion Does Not Violate Rights || Himachal Pradesh High Court: Recovery of Money without Proof of Demand Is Not Bribery || Kerala HC: Cognizance Of Rape u/s 376B IPC Needs Complaint by Separated Wife, Not on Police Report || J&K&L HC: Dealership & Lease Agreements Are Separate Contracts and Disputes Must Be Filed Separately || Calcutta High Court: Unemployment Does Not Excuse Able-Bodied Husband from Maintaining His Wife || Ker. HC: Violating the Procedure for Sampling Contraband u/s 53A of Abkari Act Vitiates Prosecution || Delhi High Court: Students with Less Than 75% Attendance Cannot Contest DU Student Union Elections || Delhi High Court: UGC Cannot Debar a University from PhD Admissions under UGC Act || Delhi High Court: MCD's Higher Property Tax on Luxury Hotels Not Arbitrary

Amendment in Rule 114H of Income-tax Rules, 1962- (Ministry of Finance ) (22 Jun 2016)

MANU/PIBU/0499/2016

Direct Taxation

Rule 114H of the Income Tax Rules 1962 has been amended to provide sufficient time to reporting financial institutions for completing due diligence in respect of reportable accounts under the provision.

The timeline specified for review of pre-existing individual and entity accounts has been extended from 30 June 2016 to 31 December 2016. The extension is only for high value accounts.

Relevant : Income-Tax (15th Amendment) Rules, 2016 MANU/CBDT/0057/2016

Tags : INCOME TAX RULES REPORTABLE ACCOUNTS DEADLINE

Share :