Respected Members *QUOTES OF THE DAY:*

Life is a series of natural and spontaneous changes. Don't resist them - that only creates sorrow. Let reality be reality. Let things flow naturally forward in whatever way they like.

Have a nice day *LAW   UPDATE:* Cyprus to lose capital gains tax waiver from April 2017The Cabinet on Wednesday approved a revised Double Taxation Avoidance Agreement (DTAA) between India and Cyprus, which provides for source-based taxation of capital gains on transfer of shares, instead of a residence-based approach. An agreement to this effect was reached in July between the two countries, according to which Cyprus investors’ capital gains on investments made in Indian companies after March 31, 2017, can be taxed here.

*BUSINESS NEWS:*Car maker Hyundai Motor India Ltd will, as part of its strategy to position itself as a modern premium automobile company, launch two more sports utility vehicle (SUV) models of which one will be launched this year and another couple of years down the line, said a top company official. 

*ICAI   UPDATES:* Request to provide/update PAN details to avoid blocking of e-filing account by the Income Tax Department. *REGARDS*CA Anshul Singhal8505975170anshulca.singhal@gmail.com