Finance Control

Extension of last date upto 30.06.2016 to file Form 11 of LLP for the financial year 2015-16. MCA Circular no. 07/2016.

These new taxes which are applicable from today are:-
1.Krishi Kalyan Cess @ 0.5% on all Services
2.1% Tax to be collected at Source on Sale of Cars
3.Tax @ 6% to be deducted on Payment to Google, Facebook etc

Finance Min. approves 8.7% interest on EPF for 2015-16

The Finance Ministry has approved 8.7 percent interest on PF deposits for over 5 crore subscribers of retirement body EPFO, lower than 8.8 percent decided by the Central Board of Trustees (CBT). “The (EPFO's apex decision-making body) CBT, at its meeting held in February 2016, has proposed an interim rate of interest at 8.8 percent to be credited to the accounts of Employees' Provident Fund subscribers for 2015-16. The Ministry of Finance has, however, ratified an interest rate of 8.7 percent,” Labour Minister Bandaru Dattatreya said in a written reply to the Lok Sabha today.