SC: Forfeiture of Earnest Money Impermissible When Both Buyer and Seller are at Fault || Supreme Court: Gravity of Offence Cannot Defeat Speedy Trial; Pre-Trial Detention is Punishment || SC: Terrorist Act under UAPA Includes Conspiracies to Disrupt Essential Supplies, Not Just Violence || Supreme Court Directs Measures to Prevent False and Frivolous Complaints Against Judicial Officers || SC: Mere Participation in Arbitration Doesn’t Bar Challenging Arbitrator; Waiver Must be in Writing || SC: Under Order 1 Rule 10 CPC, the Plaintiff, as Dominus Litis, Cannot be Forced to Add a Defendant || SC: Law Does Not Change With a New Bench; Decisions of a Coordinate Bench are Binding || Delhi HC Absence of Formal Arrest under Section 311A Crpc Does Not Bar Giving Handwriting Samples || Del HC: Security Guards Performing Duties Cannot Be Prosecuted For Wrongful Restraint or Molestation || Bombay HC: Housing Society Earning From Telecom Towers Isn’t An ‘Industry’; Staff Get No Gratuity

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 :