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News Headlines   RSS Feeds
 Issue of refunds of smaller amounts
By CA Rashmi Sharma
In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of Direct Taxes had issued instructions to Central Processing Center (CPC),
  Indirect tax to help meet FY16 target
By CA Devender Singh
The finance ministry said on Wednesday that tax collections stood at Rs 10.7 lakh crore in the first 10 months of FY16. This constituted 73.5 per cent of the Budget estimates (BE) of Rs 14.5 lakh crore.
 Tap into right mix of tax saving and regular income
By CA Ojas Aggarwal
This is taxing time of the year. All of us have to make good the shortfall in the investment required to be made for availing the tax benefits available for investments.
 Notice inviting comments on the draft companies (Auditor’s Report) order, 2016.
By CA Ojas Aggarwal
The Ministry had set-up a Committee on 16th September, 2015 to examine and recommend matter for inclusion in the statement to be attached with Auditor's Report under Section 143(11)
 Burdened by Income Tax? Former Finance Minister Has a Plan
By CA S K Verma
Only 3 per cent of over 1 billion people in India pay income tax, so it's not surprising that the salaried class often complains about high taxes.
 Tax Reforms
By CA Ojas Aggarwal
In recent times, India's tax laws have raised the hackles of domestic businesses as well as MNCs operating here. The bitterly contested Vodafone retrospective tax case is a prime example.
 Commerce ministry may seek tax breaks for hi-tech firms at SEZs
By CA Manu T George
In a fresh bid to revive special economic zones (SEZs) by linking them to the government’s Make in India initiative, the Union commerce ministry may request the finance ministry to give income-tax benefits to high-tech companies that open shop in SEZs and pursue higher value addition.
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Continuing Prof. Edu.   RSS Feeds
  INDIRECT TAXES - Value Added Tax (VAT) – Including State Level VAT
By CA Ojas Aggarwal
Place: ICAI Bhawan Pithapuram Colony,VISAKHAPATNAM Date: 13th Feb, 2016 17:30 - 20:30 CPE.Hrs.: 2
  Direct and Indirect Tax Implications under cross border service & 15CA & CB. and Latest Development in Service Tax.
By CA Atul Gupta
Place: Bawa Palace Banquets, U-38B, Besment, Shakarpur, Mother Dairy Road, Delhi-110092. Date: 13th Feb, 2016 16:30 - 21:45 CPE.Hrs.: 5
 Latest Amendment in VAT & Ind AS
By CA Mayank Jain
Place: Hotel Singh Sahib, Satbharawan School Road, Near Metro Pillar No 88, Karol Bagh New Delhi - 110005. Date: 15th Feb, 2016 17:00 - 22:00 CPE.Hrs.: 5
  Direct and Indirect Tax Implications under cross border service & 15CA & CB. and Latest Development in Service Tax.
By CA Manu T George
Place: Bawa Palace Banquets, U-38B, Besment, Shakarpur, Mother Dairy Road, Delhi-110092. Date: 13th Feb, 2016 16:30 - 21:45 CPE.Hrs.: 5
 DIRECT TAXES - Recent judgment/ judgments on Direct Taxes Lawsa
By CA Rashmi Sharma
Place: Mulund College of Commerce, Sarojini Naidu Road, Mulund West, Mulund - 400080 Date: 27th Feb, 2016 17:30 - 20:30 CPE.Hrs.: 3
 Direct and Indirect Tax Implications under cross border service & 15CA & CB. and Latest Development in Service Tax.
By CA Andrew F Thomas
Place: Bawa Palace Banquets, U-38B, Besment, Shakarpur, Mother Dairy Road, Delhi-110092. Date: 13th Feb, 2016 16:30 - 21:45 CPE.Hrs.: 5
  Recent Amendments in Income Tax Rules
By CA Ojas Aggarwal
Place: Branch Premises, 11/5 PACHAYYAPPA STREET, Kumbakonam, Tamil Nadu Date: 6th Feb, 2016 10:00 - 17:00 CPE.Hrs.: 6
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VAT (Value Added Tax)   RSS Feeds
 Dept forgets to change advance tax after VAT slash
By CA Ojas Aggarwal
Laxity on the part of officers of the excise and taxation department is costing businessmen in the state dear. The department, after issuing a notification for reducing VAT on sarson and binola khal (oil cakes) from 5% to 2% on December 14, forgot to change the rate of advance tax on these articles in its system.
 Govt surprises with VAT hike before budget, most items become costlier
By CA Atul Gupta
In a late night move on Monday that took people by surprise, the state government has increased taxes almost across the board making most of the household items and industrial inputs costlier by at least 0.5%.
 Rule 6 of CENVAT credit Rules
By CA Atul Gupta
CENVAT Credit of eligible Taxes on inputs, capital goods and input services that goes into or in relation to manufacture of dutiable goods or taxable services is admissible.
 Notify that the Form DP-1 shall be submitted online by all the dealers latest by 29.02.2016.
By CA S K Verma
In partial rnodiflcotion of Notification No.F.3(352)Policy IV AT/2013/1210-21 dated 31/12/2015 regarding submission of information online in Form DP-l, I, S.S.Yadav,Commissioner, Value Added Tax,
 In partial modification to this department's Circular No. 30 of 2015-16
By CA Nilesh Sahu
In partial modification to this department's Circular No. 30 of 2015-16 issued vide No.F.3(556)/PolicylV AT/2015/1028-34 dated 18/11/2015, the conditions specified for issuance of statutory forms under the Central Sales Tax Act, 1956
 Amendments in the Fourth Schedule, for the existing rows pertaining to serial numbers 12 and 13, regarding Petrol & Diesel.
By CA Devender Singh
Amendments in the Fourth Schedule, for the existing rows pertaining to serial numbers 12 and 13, regarding Petrol & Diesel.
 Related to Form GE-I and GE-II of Government Entity.
By CA Manu T George
In exercise of the powers conferred on me under section 27 of Delhi Value Added Tax Act, 2004 (hereinafter referred to as the said Act)
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Markets   RSS Feeds
 Tax-free bonds regain demand in the secondary market
By CA Ojas Aggarwal
Tax-free bonds which have been languishing for more than six months due to lack of investor interest in the secondary market, are in demand again.
 Relevant Market’ Under Competition Act, 2002
By CA S K Verma
The object of the Competition Act, 2002 (‘Act’ for short) is to preserve and promote competition and to prevent anti competitive business practices with minimal Government intervention.
 Indian markets best in terms of earnings momentum, price revision
By CA Andrew F Thomas
Let me just first ask you: the kind of volatile trade setup that the year has started with, the global markets were looking extremely shaky two or three days back because of oil and the Greek fears
 How India will become a common market with GST
By CA Rashmi Sharma
With the Centre and states finally reaching a consensus on the contours of the Goods and Services Tax (GST), India is all set to roll out the largest indirect tax reform since the introduction of the value-added tax in 2005.
 Broader markets outperform; Nifty holds 8,500
By CA Manu T George
Benchmark share indices continued to trade flat after the first hour of trade as investors shifted focus to fundamentally sound stocks in the broader market.
 Have Indian markets run ahead of fundamentals?
By CA Andrew F Thomas
The returns of Indian stock indices so far this year have been seven times the average for emerging markets. These gains have made the Indian market more expensive than most comparable peers, and even developed ones like the US, UK and Germany.
 Sebi mulls allowing foreign VCs in infra investment firms
By CA Mayank Jain
Capital markets regulator Sebi today proposed allowing Foreign Venture Capital Investors (FVCIs) in Core Investment Companies (CICs) for infrastructure sector to help attract overseas funds in this space.
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General   RSS Feeds
 Tax refunds of Rs 1 lakh crore issued so far in FY16
By CA Atul Gupta
The Income Tax department has issued refunds worth Rs 1 lakh crore till January in the current fiscal, the Finance Ministry said today.
 FATIA seeks relief from tax burden for salaried, business sections
By CA S K Verma
Federation of All Trade and Industry Associations (FATIA) in Erode district has urged the Central Government to double the ceiling on levy of income tax for individuals to Rs. 5 lakh from the existing level.
 Income tax laws should be clear and free from ambiguity
By CA Manu T George
R Radhakrishnan, Member of Parliament (Lok Sabha) today said that the Income Tax and other taxation laws should be clear and free from ambiguity.
 Refund of Excise duty on purchase of cars by physically handicapped persons
By CA Devender Singh
Attention is invited to Sl. No 280 of Notification No. 12/2012-CE dated 17.03.2012 vide which concessional rate of duty has been provided for purchase of Cars by physically handicapped persons.
 Avoiding tax policy blunders
By CA S K Verma
The recent announcement that the government of India is setting up a Tax Policy Research Unit (TPRU) is an extremely welcome one.
 Property tax in city suburbs higher
By CA Devender Singh
wners of properties in prime areas of Chennai city are more equal than their counterparts in the outlying areas not merely in basic amenities, they are a favoured lot even in property tax fixation.
 Amendment in para 2.05 (c) of Foreign Trade Policy (2015-20)
By CA Andrew F Thomas
In exercise of powers conferred by Section 3 of FT (D&R) Act, 1992, read with paragraph 1.02 and 2.01of the Foreign Trade Policy, 2015-2020, as amended from time to time,
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Corporate Law   RSS Feeds
 What the proposed corporate law changes mean for retail investors
By CA Mayank Jain
The proposed corporate law framework is a mixed bag for retail investors. “It is positive for minority shareholders to the extent it didn’t relax any existing safeguards (for investors)
 Gear up for changes in tax laws, treaties
By CA Rashmi Sharma
The international community led by the G20 had initiated the Base Erosion and Profit Shifting (BEPS) project a few years ago with the aim of ensuring that profits are taxed where economic activities are performed and where value is created. Governments,
 Easwar panel suggests friendlier direct tax laws
By CA Devender Singh
A committee set up by the government to change direct tax laws has suggested several taxpayer-friendly measures to improve the ease of doing business, reduce litigation and accelerate the resolution of tax disputes.
 Tax disputes out of investment pacts
By CA Devender Singh
The model bilateral investment treaty (BIT) cleared by the Union Cabinet last month makes it easier than what a draft version had proposed for foreign companies investing in India to seek judicial remedies in case of expropriation.
 Untangling the complex web of tax laws
By CA Andrew F Thomas
The National Democratic Alliance (NDA) government is seeking to prepare a road map to reduce existing tax litigation and look into increasing pecuniary threshold limits to discourage tax departments from launching new cases.
 Fickle tax laws hurt foreign investors
By CA Mayank Jain
It is absurd that foreign portfolio investors (FPIs) are facing fresh income-tax queries after the government granted them a retrospective exemption from the minimum alternate tax (MAT),
 Relaxation of additional fees and extension of last date of filing of AOC-4, AOC-4 XBRL and MGT-7 E-Forms under the Companies Act, 2013
By CA Ojas Aggarwal
In continuation of this Ministry's General Circular No.10/2015 dated 13.07.2015, keeping in view the request received from various stakeholders,
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Students   RSS Feeds
 Announcement regarding Manner of Signing of Certificates by Chartered Accountants
By CA Rashmi Sharma
Standard on Assurance Engagements (SAE) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus, should be read in t he cont ext of t he " Preface to the Standards on Quality Control,
 Inviting Suggestions on the drafted Background Material of Certificate Course on Derivatives
By CA S K Verma
Committee on Financial Markets and Investors’ Protection of ICAI is conducting Certificate course on Derivatives from the year 2009.
  Announcement of upcoming batches of Certificate Course on Forex and Treasury Management
By CA Atul Gupta
The Committee on Financial Markets and Investor\'s Protection (CFM&IP) of ICAI conducts Certificate Course on Forex and Treasury Management (FXTM) for the professional updation of the members and to explore the prevailing professional opportunities in the area for Forex Risk Management.
 Examination for the Certificate Course on Valuation scheduled on 24th January, 2016
By CA Andrew F Thomas
The candidates who have attended the 7 days classes of the Certificate Course on Valuation are eligible to appear for the examination. To qualify this course a project report of 100 marks on any topic of the choice of the participant has to be submitted. A participant of the course has to pass the written examination,
  Examination for the Certificate Course on Forex and Treasury Management is re-scheduled to 24th and 31st January, 2016
By CA Nilesh Sahu
The examination will consist of 65% multiple objective type questions and 35% subjective type question. A passing grade is awarded if the candidate obtains 40% marks in each paper and 50% in the aggregate in each group.
  Examination for the Certificate Course on Forex and Treasury Management is re-scheduled to 24th and 31st January, 2016
By CA Devender Singh
The examination will consist of 65% multiple objective type questions and 35% subjective type question. A passing grade is awarded if the candidate obtains 40% marks in each paper and 50% in the aggregate in each group.
 Examination for the Certificate Course on Derivatives is re-scheduled to 24th January, 2016
By CA S K Verma
There will be one Paper of 100 marks for three hours. The examination will consist of 100% MCQ's.
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New Forms   RSS Feeds
  Form DVAT 01 - Application For Opting For Composition Scheme by a dealer registered
By CA Andrew F Thomas
Form DVAT 01 - Application For Opting For Composition Scheme by a dealer registered
 Interest from Non-SLR securities of Banks
By CA Ojas Aggarwal
It has been brought to the notice of the Board that in the case of Banks, field officers are taking a view that, "expenses relatable to investment in non-SLR
 Regarding the status of the forms downloaded by the dealers.
By CA Manu T George
The department had started issuing central statutory forms online without any manual II intervention since the middle of year 2012.
 Regarding the status of the forms downloaded by the dealers
By CA Nilesh Sahu
The department had started issuing central statutory forms online without any manual intervention since the middle of year 2012.
 CBDT simplifies procedure for filling 15G, 15H forms
By CA Manu T George
The CBDT has simplified the procedure for filing of self declaration by individuals in 15G and 15H forms, allowing them to do it electronically.
 Online Form Delhi Sugam-2 (in short DS2) will come into force with effect from 15th September 2015.
By CA S K Verma
Department of Trade and Taxes, Government of National Capital Territory of Delhi has vide notification dated 10.09.2015
 Regarding Form Delhi Sugam-2 (DS-2)
By CA Devender Singh
Whereas, the Department of Trade and Taxes, Government of National Capital Territory of Delhi vide notifications dated 28.02.2014
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Department of Companies Affairs   RSS Feeds
 Impose tax on windfall profits of pvt oil cos: CPM tells Govt
 Taxes fuel petrol, diesel prices globally
 Department of Economic Affairs seeks hike in spectrum fee
 Rising yen gives companies the jitters
 ROC Forms
 ROC Circulars
 ROC Notifications
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ICAI   RSS Feeds
 Revised Standard on Auditing (SA) 610, Using the Work of Internal Auditors
By CA Andrew F Thomas
Standard on Auditing ( SA ) 610 (Revised ), Using the Work of Internal Auditors, should be read in conjunction with SA 200, Overall Objectives of the Independent Auditor and the Conduct of an Audit in Accordance with Standards on Auditing.
 Standard on Assurance Engagement (SAE) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus
By CA Nilesh Sahu
Standard on Assurance Engagements (SAE) 3420, Assurance Engagements to Report on the Compilation of Pro Forma Financial Information Included in a Prospectus, should be read in t he cont ext of t he " Preface to the Standards on Quality Control
 Internal Audit Standards Board, ICAI is organising National Conclave on the theme "Internal Audit: Transformation and Effectiveness" on February 5 & 6, 2016 at Mumbai.
By CA Andrew F Thomas
The Internal Audit Function plays a very crucial role in protecting the value of the modern business enterprises
  Special Examinations under MRA / MOU is scheduled to be held from June 20th-24th, 2016.
By CA Nilesh Sahu
Special Examination for Members of Foreign Accounting Bodies with whom the ICAI had entered into Mutual Recognition Agreement (MRA) / Memorandum of Understanding (MoU)
  Inviting Suggestions on the drafted Background Material of Certificate Course on Financial Markets and Securities Laws
By CA Ojas Aggarwal
Committee on Financial Markets and Investors Protection’ (CFMIP) of ICAI is launching a new Certificate Course on Financial Markets and Securities Laws.
 Govt to push ahead with NFRA despite stiff resistance from ICAI
By CA Atul Gupta
Discounting the stiff opposition of The Institute of Chartered Accountants of India (ICAI), a government panel has recommended the formation of a new regulatory authority, National Financial Reporting Authority (NFRA), as early as possible.
 ICAI to revamp chartered accountants course curriculum
By CA Andrew F Thomas
Chartered accountants’ body ICAI is awaiting in-principle approval from the government for its “completely revamped” course curriculum that is in tune with current economic landscape.
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From the Courts   RSS Feeds
 Chryscapital Investment Advisors (India) Pvt. Ltd. Vs. Deputy Commissioner Of Income Tax
By CA Rashmi Sharma
Is there a concept of "super profit" in the arms length price/transfer price determining process under the Income Tax Act, 1961
 Commissioner Of Income Tax-I Vs. M/s Cairs Computer Aided Information & Services Pvt Ltd
By CA Andrew F Thomas
The revenue is aggrieved by the order of the Income Tax Appellate Tribunal (ITAT).
 M/s. Aggarwal And Modi Enterprises (Cinema Project) Pvt. Ltd Vs. The Commissioner Of Income Tax
By CA Nilesh Sahu
These are thirteen appeals by the Assessee under Section 260A of the Income Tax Act, 1961
 Director Of Income Tax - Ii (International Taxation) Vs. National Petroleum Construction Company
By CA Rashmi Sharma
These appeals have been filed under Section 260A of the Income Tax Act, 1961 (hereafter the `Act')
 B.P. Jain And Assoc And Another Vs. Commissioner Of Income Tax
By CA Andrew F Thomas
The controversy in the present writ petition is regarding the calculation of the disputed income for the purposes of determination of the tax to be paid
 Commissioner Of Income Tax Delhi Vs. Roger Enterprises P. Ltd.
By CA Nilesh Sahu
ITA No. 439 of 2003 filed by the Assessee, Roger Enterprises Private Limited, under Section 260A of the Income Tax Act, 1961 (`Act')
 Roger Enterprises P. Ltd. Vs. Commissioner Of Income Tax Delhi
By CA Devender Singh
ITA No. 439 of 2003 filed by the Assessee, Roger Enterprises Private Limited, under Section 260A of the Income Tax Act, 1961
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Auditing   RSS Feeds
 Cost Auditing Standards [ Cost Audit Documentation (102)] – Part-II
By CA Ojas Aggarwal
In continuation of our effort to make notified Cost Auditing Standards readable, next in line is theCost Auditing Standard on Cost Audit Documentation (102).
 Conference on Companies Act gets under way
By CA Manu T George
The two-day seminar on “Companies Act, 2013 – New Standards for Corporate Governance” being organised by Kakatiya University College of Commerce , Business Management and Institute of Chartered Accounts of India (ICAI), got under way here on Monday.
 New bureau to dissolve state-run banks' power to choose auditors
By CA Ojas Aggarwal
The government is likely to empower the proposed Bank Board Bureau to select audit firms for public sector banks as part of its larger initiative to strengthen their corporate governance practices.
 Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015
By CA Devender Singh
In exercise of the powers conferred by sub-section (2) of Section 6, sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999),
 ICAI forms 'prima facie' view on NSEL auditor
By CA Atul Gupta
The Institute of Chartered Accountants of India (ICAI) has formed a ‘prima facie’ opinion in the complaint against the auditor of National Spot Exchange (NSEL) at the time of the latter’s payments scam.
 Firms appoint new auditors in shift to meet new standards
By CA Mayank Jain
As Indian firms transition towards a new system of auditor rotation, which comes into effect in April 2017, companies have started to plan ahead to ensure a smooth transition.
 Cadre restructuring in I-T dept may open scrutiny of closed cases
By CA Andrew F Thomas
The income tax department is in a tough spot regarding the promotion of some of its top officers.
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Latest Circulars   RSS Feeds
 RBI releases the Monthly Bulletin for February 2016
By CA Mayank Jain
The Reserve Bank of India today released the February 2016 issue of its monthly Bulletin.
 Rural Cooperatives: Repositioning (Shri R. Gandhi, Deputy Governor - February 9, 2016 - at the “National Conference of Cooperative Banks – Regaining Leadership in Agricultural Finance” held at BIRD, Lucknow)
By CA Manu T George
I am glad to be addressing you all at this National Conference on Cooperative Banks – Regaining Leadership in this historic city of Lucknow. It is a very contemporary issue.
 Master Circular – Collection of Direct Taxes- OLTAS
By CA Rashmi Sharma
The Central Board of Direct Taxes (CBDT) is responsible for administering various direct taxes through the Commissioners of Income Tax located in different parts of the country.
 RBI to conduct overnight variable rate repo auction under LAF Today For ₹ 250 billion between
By CA Andrew F Thomas
The Reserve Bank of India will conduct overnight variable rate repo auction for a notified amount of ₹ 250 billion today (February 10, 2016, Wednesday).
 Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015
By CA Manu T George
Attention of Authorised Dealers (ADs) is invited to Foreign Exchange Management (Possession and Retention of Foreign Currency) Regulations, 2015
 RBI seeks Comments on Working Group Report on introducing Interest Rate Options
By CA Nilesh Sahu
The Reserve Bank of India today released the Report of the Working Group on Introduction of Interest Rate Options in India
 Ministry of Finance Notification No. 8/2016 ? Customs Section 25 of Act, 1962 (52 of 1962),
By CA Rashmi Sharma
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 3/89-Customs, dated the 9th January, 1989,
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Budget Extravaganza   RSS Feeds
 Startups may get tax benefit in Budget for brand building
By CA Mayank Jain
In order to encourage startups, especially e-commerce companies, the finance ministry may look at according beneficial tax treatment to their brand building expenses in the forthcoming budget.
 Startups may get tax benefit for brand building in the Budget 2016
By CA Devender Singh
In order to encourage startups, especially e-commerce companies, the Finance Ministry may look at according beneficial tax treatment to their brand building expenses in the forthcoming Budget.
 Budget: FM will have to walk tightrope amid a trinity of challenges
By CA Devender Singh
The Modi government faces a trinity of challenges in formulating the Union Budget. Even as the government tries to stay on the path of fiscal consolidation,
 Assocham seeks more sops for salaried income households in Union Budget
By CA Atul Gupta
In order to help salaried income households and encourage more women to join the work force, finance minister Arun Jaitley should announce a 10-fold increase in children education allowance and tax exemption for creche facility in the Budget, Assocham has said.
 Budget STT be considered as advance income-tax like TDS
By CA Rashmi Sharma
Security transaction tax (STT) should be considered as advance income-tax, like TDS ,and income be taxed, with some specified period of holding, normal and special rates of income-tax.
 CPE Events 8th february - 13th february 2016
By CA Andrew F Thomas
SIRC of ICAI, Bangalore , First Floor, Kolkata --69, Statue Circle, Jaipur, Karol Bagh New Delhi - 110005., ROAD, KHAR (W), MUMBAI 400 052.
 Ramp up taxes, Thomas Piketty preaches to India as PM Modi prepares budget
By CA Nilesh Sahu
Want to become a developed economy? Spend more on health and education, finance it with taxes and publish as much data as possible.
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Sales Tax   RSS Feeds
 Whether Official Liquidator Is A Dealer For The Purposes Of Sales Tax?
By CA Andrew F Thomas
The provisions relating to Official liquidator under the Companies Act, 2013 have not yet been notified. It is relevant to refer to the provisions of Companies Act, 1956.
 Supreme Court stays levy of penalty on sales tax paid by Tata Sons
By CA Devender Singh
The Supreme Court today restrained Maharashtra government from imposing penalty on the sales tax levied on Tata Sons Ltd over the use of the TATA brand name by its subsidiaries.
 CCI dismisses complaint against Maharashtra sales tax dept
By CA Mayank Jain
The Competition Commission has rejected allegations of unfair business practices made against Maharashtra's Department of Sales Tax.
 Political storm in Japan over sales tax relief plan
By CA Rashmi Sharma
Shoppers in Japan may have to hand over their tax ID number every time they go to the supermarket as part of a unique, controversial plan to ease the pain of a rise in consumption tax.
 10 Major Cities With the Highest Sales Tax
By CA S K Verma
As most taxpayers know, tax structures can vary quite a lot depending on your location. When you take into account the many types of taxes Americans pay, the full picture can look very different,
  Auction for Sale (Re-Issue) of Government Stocks
By CA Manu T George
The Government of India have announced the Sale (re-issue) of (i) “7.68 per cent Government Stock 2023” for a notified amount of ₹ 2,000 crore (nominal) through price based auction,
  Auction for Sale (Re-Issue) of Government Stocks
By CA Nilesh Sahu
The Government of India have announced the Sale (re-issue) of (i) “7.35 per cent Government Stock 2024” for a notified amount of Rs.2,000 crore (nominal) through price based auction,
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Forex   RSS Feeds
 Perils of an ad hoc forex policy
By CA Nilesh Sahu
In a speech that he gave last month at the International Monetary Fund, the Reserve Bank of India (RBI) Governor,
 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
By CA Andrew F Thomas
The rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade today following weak domestic equity markets
 Rupee strengthened by 7 paise against dollar
By CA Devender Singh
The rupee strengthened by 7 paise to Rs 45.35 a dollar in early trade today on weakness in the US currency against major world currencies
 Rupee up by 4 paise against dollar in early trade
By CA Nilesh Sahu
The rupee strengthened by 4 paise to Rs 45.48 against the US dollar in early trade at the Interbank Foreign Exchange today
 Rupee falls by 18 paise at 4-week low against dollar
By CA Manu T George
The rupee today fell by 18 paise to trade at a four-week low of Rs 45.54 against the US currency in early trade, weighed down by dollar's gains against the major world currencies
 Rupee drops on weak shares; inflation eyed
By CA Nilesh Sahu
The Indian rupee fell on Friday tracking losses in local shares, which raised worries of foreign investors continuing to pull out funds from Asia's third-largest economy
 Rupee raises 6 paise against dollar in early trade
By CA Rashmi Sharma
The Rupee appreciated by 6 paise to Rs 45.07 a dollar at the Interbank Foreign Exchange market today, boosted by the greenback's weakness against euro and other major currencies
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ITAT-Constitution of Benches   RSS Feeds
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad . Constituion Of Benches For The Week Commencing From 02.02.2016 To 04.02.2016.
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad . Constituion Of Benches For The Week Commencing From 02.02.2016 To 04.02.2016.
 Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Constituion Of Benches For The Week Commencing From 08.02.2016 To 18.02.2016.
By CA Nilesh Sahu
Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Constituion Of Benches For The Week Commencing From 08.02.2016 To 18.02.2016.
 Income Tax Appellate Tribunal : Pune Benches : Pune Constitution for the week from 08/02/2016 To 12/02/2016
By CA Atul Gupta
Income Tax Appellate Tribunal : Pune Benches : Pune Constitution for the week from 08/02/2016 To 12/02/2016
 Income Tax Appellate Tribunal : Bangalore Benches : Bangalore Constitution for the week from 08/02/2016 To 11/02/2016
By CA Mayank Jain
Income Tax Appellate Tribunal : Bangalore Benches : Bangalore Constitution for the week from 08/02/2016 To 11/02/2016
 Income Tax Appellate Tribunal : Chenni Benches Constitution of Chenni Constitution for the week from 08/02/2016 To 11/02/2016
By CA Atul Gupta
Income Tax Appellate Tribunal : Chenni Benches Constitution of Chenni Constitution for the week from 08/02/2016 To 11/02/2016
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Constitution of Kolkata Benches for The Period From 08/02/2016 To 11/02/2016 (12.02.16 isHoliday)
By CA Mayank Jain
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Constitution of Kolkata Benches for The Period From 08/02/2016 To 11/02/2016 (12.02.16 isHoliday)
 Income Tax Appellate Tribunal, Pune Benches, Pune. Constitution For The Week Commencing From 01.02.2016 To 05.02.2016.
By CA Atul Gupta
Income Tax Appellate Tribunal, Pune Benches, Pune. Constitution For The Week Commencing From 01.02.2016 To 05.02.2016.
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Placements & Empanelment   RSS Feeds
 New Opening Executive - Costing (accounts) - Only CA
By CA Devender Singh
Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 New Opening CA Freshers., an Immediate Openings with an Indian MNC in Mumbai
By CA S K Verma
Salary:INR 5,00,000 - 8,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 CA Freshers., an Immediate Openings with an Indian MNC in Mumbai
By CA Rashmi Sharma
Salary:INR 5,00,000 - 8,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 20 Opening Executive - Audit & Assurance
By CA S K Verma
Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 New Opening CA Fresher/experienced (statutory Audit) in Big4 - Bangalore
By CA Ojas Aggarwal
Salary:INR 6,00,000 - 8,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 100 Opening CA Freshers, CA for Leading Accounting Firm Jenny
By CA Andrew F Thomas
Salary:INR 1,00,000 - 4,50,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,
 50 Opening Executive - Audit & Assurance
By CA Nilesh Sahu
Salary:INR 2,00,000 - 5,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, Role:Chartered Accountant
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Direct Tax   RSS Feeds
 Government says direct tax collection to fall short of target
By CA Atul Gupta
The government expects the direct tax collection to fall short of the budget target of Rs 7.9 lakh crore this year, but hopes to make good of the shortfall through higher indirect tax collection.
 Experts seek more clarity from CBDT on PoEM norms , detailed FAQs
By CA Devender Singh
Tax experts have sought greater clarity from Central Board of Direct Taxes (CBDT) on draft Place of Effective Management (PoEM) norms that aim to determine the tax residency of companies, and said that a set of objective criteria be put in place before implementing them.
 CBDT asks Income Tax department to speed up overseas requests
By CA S K Verma
With the current financial year coming to a close soon, CBDT has asked the Income Tax department to speed up select black money and tax evasion probe cases which require cooperation from foreign agencies under existing bilateral treaties.
 Check if your taxes are paid in full to avoid penal interest
By CA Mayank Jain
If you have been extra diligent with submitting proofs to the employer, any tax payable at the time of return filing always comes as a surprise.
 Govt could see a shortfall of `40K cr in direct tax collections this fiscal
By CA Mayank Jain
The government is likely to face a shortfall of Rs 40,000 crore in direct tax collection this fiscal going by the latest tax collection figures as the economic slowdown appears to have had an impact on mobilisation of revenue.
 Redress taxpayers' grievances in 2 months: CBDT to I-T dept
By CA Manu T George
Terming as “unsatisfactory” the current pace of taxpayers’ grievance redressal process, the Central Board of Direct Taxes (CBDT) has asked the Income Tax (I-T) department to resolve these complaints within two months.
 Plan to scrap income tax gets high-level hearing
By CA S K Verma
A presentation made last week for a sub-group of Secretaries set up by Prime Minister Narendra Modi seeks to abolish income tax and over 30 local, State and Central taxes.
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Service Tax   RSS Feeds
 MF industry pitches for service tax exemption for distributors
By CA Nilesh Sahu
This year the mutual fund (MF) industry’s pre-budget proposals largely revolve around tax exemptions and tax breaks, as per two persons directly involved in the process.
 Expect further rise in service tax rate, pruning in list of excise exemptions
By CA S K Verma
While speculations of 'will it' or 'won't it' continue to surround GST's implementation in April 2016, we reckon the Finance Minister will introduce some changes that will play a catalyst role to GST's introduction at a later date.
 Minor Change in Service Tax had Major Impacts on Clients
By CA Atul Gupta
The only thing permanent in the world is “Change”. Government each year announces budget for coming financial year, under which Government changes taxation laws ,
 Redress taxpayers' grievance in max two months: CBDT to IT department
By CA Ojas Aggarwal
Terming as "unsatisfactory" the current pace of taxpayers' grievance redressal process, the CBDT has asked the Income Tax department to resolve these complaints within a maximum period of two months.
 GST will become a reality soon'
By CA Devender Singh
Finance Minister Arun Jaitley on Thursday said he hoped that the Opposition parties will “see reason” and the Goods and Services Tax (GST) Bill, which is held up in Rajya Sabha, will be passed soon.
 CBEC preparing blue-print for HR restructuring for GST
By CA Mayank Jain
Human resource wing of the CBEC has started working on a blue-print for administrative restructuring of the department to prepare it for implementing the proposed Goods and Services Tax (GST), a new regime which will subsume most of the indirect taxes.
 Pros and cons of GST on the education sector
By CA Atul Gupta
Bipin Sapra, Partner – Indirect Tax & Regulatory Services at Ernst & Young India believes that the government should explore the idea of zero tax-rate for the education sector under the Goods and Services Tax (GST).
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Transfer Pricing   RSS Feeds
 Transfer pricing French filing requirement
By CA Andrew F Thomas
The law against tax fraud and serious economic and financial crime dated December 6, 2013 provided for a requirement to file an annual transfer pricing disclosure form .
 Amend archaic transfer-pricing rules
By CA Manu T George
With the tribunal deciding in favour of the taxpayer in most TP disputes, it is time that CBDT introduces detailed guidelines on administration of transfer-pricing
 Related party transactions above Rs 20 cr subject to transfer pricing law'
By CA Mayank Jain
As India seeks to ride on the growth trajectory, consolidating existing foreign investments and attracting fresh ones is critical. Transfer pricing rules are intimately connected to this given the large volume of inter-company dealings.
 Discontinue VAT on raw honey and equipment
By CA S K Verma
In order to promote bee keeping and farm diversification, Punjab Chief Minister Parkash Singh Badal today gave nod to abolish VAT on raw honey (unbranded honey) and equipment, boxes, food grade container and wax required for apiary.
 Mergers and acquisitions in the global chemicals industry expected to continue strong momentum in 2016, says report from Deloitte Global
By CA Rashmi Sharma
Global chemical mergers and acquisitions (M&A) activity is expected to remain buoyant in 2016, building on the strong momentum experienced in 2015,
 More than 100 transfer pricing disputes with US firms resolved under tax treaty
By CA Devender Singh
More than 100 transfer pricing disputes have been resolved under the mutual agreement procedure, or MAP, clause of the double taxation treaty between India and the US over the last one year, the income-tax department said in a statement on Thursday.
 Why the mad rush to implement a transfer pricing regime?
By CA Atul Gupta
The Government assures the country that this unconstitutional transfer pricing mechanism isn’t a tax, but an attempt to get affected businesses to pay their fair share of taxes.
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Customs and Excise   RSS Feeds
 Government Reviewing Move To Withdraw Customs Duty Exemption For Drugs
By CA S K Verma
Fearing a rise in prices of life-saving medicines, the government is reviewing its decision to withdraw customs duty exemption for the import of 74 drugs, including those for treating cancer, AIDS and haemophilia.
 Amendment in the Notification No. 110/2015-Customs (N.T.), dated the 16th November, 2015
By CA Ojas Aggarwal
In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962), sub-section
 Extending the Indian Customs Single Window to other locations and other Participating Government Agencies
By CA Manu T George
The Central Board of Excise and Customs has taken-up the task of implementing `Indian Customs Single Window Project' to facilitate trade.
  Seeks to further amend notification No. 12/2012- Customs
By CA Nilesh Sahu
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962
 Ministry Of Finance Notification No. 14/2016 - Customs (N.T.)
By CA Manu T George
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise & Customs No.02/2016-CUSTOMS (N.T.), dated 07th January, 2016,
 Customs, Excise & Service Tax Appellate Tribunal (Procedure for Appointment as President)
By CA Nilesh Sahu
In exercise of the powers conferred by sub-section (3) of section 129, read with sub-section (1) of section 156 of the Customs Act, 1962 (52 of 1962), the Central Government hereby makes the following rules, namely:-
 Advance Rulings (Procedure for Appointment as Chairman and Vice-Chairman) Rules, 2016
By CA Devender Singh
In exercise of the powers conferred by sub-section (3) of Section 245-O, read with subsection (1) and clause (p) of sub-section 2 of Section 295 of the Income-tax Act, 1961 (43 of 1961), the Board hereby makes the following rules, namely:-
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Mergers and Acquisitions   RSS Feeds
 Reliance Infra in talks to sell road assets portfolio
By CA Nilesh Sahu
Digital technologies are expected to contribute as much as 14% to the revenue of leading IT firms in 2015-16, according to Nasscom
 15 biggest mergers and acquisitions of Q4 2015
By CA Rashmi Sharma
Last year was a dynamic year for the advertising industry. According to R3’s Q4 2015 R3VIEW, the media industry alone saw the review of 22 of the largest US and glob­al accounts.
 Surge of oil and gas mergers and acquisitions expected
By CA Manu T George
Mergers and acquisitions in the oil and gas sector are expected to step up this year as investors look to capitalise on distressed situations, experts say.
 After brief lull, mergers & acquisitions back on Marico's radar
By CA Ojas Aggarwal
Consumer products major Marico is open to making acquisitions in the Southeast Asian and East African regions in a bid to expand its footprint.
  New transfer pricing norms to reduce tax litigation
By CA Ojas Aggarwal
In a bid to promote business-friendly taxation regime, the Centre has issued guidelines for transfer pricing (TP) provisions that are expected to reduce the rising volume of tax litigation.
 Expect more mergers and acquisitions
By CA Atul Gupta
Competition among buyers is expected to intensify in the insurance industry, with 83% of companies saying they plan to acquire another firm over the next three years.
 Healthcare Mergers and Acquisitions
By CA Ojas Aggarwal
2015 was a landmark year for information governance (IG). Healthcare organizations began to realize the value of IG as a competency required for data integrity. Associations and publications, like AHIMA and Executive Insight, launched strategic initiatives to build awareness and provide education for healthcare leaders.
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Indirect Tax   RSS Feeds
  Steps taken by Income Tax Department for safeguarding taxpayers from Phishing email
By CA Mayank Jain
The Income Tax Department has been at the forefront of using technology in implementing its e-Governance initiatives.
 Steps taken by Income Tax Department for safeguarding taxpayers from Phishing email
By CA Manu T George
The Income Tax Department has been at the forefront of using technology in implementing its e-Governance initiatives.
 Tax incentive for home loan principal repayment must be hiked
By CA Andrew F Thomas
Building a house is one of the major accomplishments in the life of every individual.
 Government to meet FY16 tax revenue target
By CA Devender Singh
Weeks before it presents Budget for the next fiscal, the government on Wednesday said it will achieve the tax revenue target for the current year with larger-than- budgeted indirect tax collections making up for a possible shortfall in direct taxes.
 Infrastructure firms may get to consolidate tax payments
By CA Nilesh Sahu
In what could boost the growth of the infrastructure companies, which are currently reeling under the burden of massive debt, the government is looking to allow them to file a consolidated group tax return, a person familiar with the development said.
 Settlement Commission Under Income Tax Act, 1961 Procedure
By CA Atul Gupta
Chapter XIX A of the Income Tax Act, 1961 (‘Act’ for short) deals with the establishment of Settlement Commission, its procedure, powers etc.,
 HC directs government to extend tax exemption for Gethu
By CA Mayank Jain
finds a place in Tamil dictionaries, spelling it as Gethu in English and not as Kethu (as contended by the State) has no relevance for the grant of exemption from entertainment tax,
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Various Acts & Rules   RSS Feeds
 Customs Tariff 2009-10 - PART-II - Chapter 98 - Project imports, Laboratory chemicals, passenger's baggage
By CA Atul Gupta
This Chapter is to be taken to apply to all goods which satisfy the conditions prescribed therein, even though they may be covered by a more specific heading elsewhere in this Schedule.
 Customs Tariff 2009-10 - PART-II - Chapter 97 - Works of art, collectors' pieces and antiques
By CA Atul Gupta
Unused postage or revenue stamps, postal stationery (stamped paper) or the like of heading 4907
 Customs Tariff 2009-10 - PART-II - Chapter 96 - Miscellaneous manufactured articles
By CA Mayank Jain
Articles of Chapter 66 (for example, parts of umbrellas or walking-sticks);
 Customs Tariff 2009-10 - PART-II - Chapter 95 - Toys, games and sports requisites; parts and accessories thereof
By CA Ojas Aggarwal
Toys, games and sports requisites; parts and accessories thereof
 Customs Tariff 2009-10 - PART-II - Chapter 94 - Furniture; bedding, mattresses, mattress supports
By CA Atul Gupta
Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings.
 Customs Tariff 2009-10 - PART-II - Chapter 93 - Arms and ammunition; parts and accessories thereof
By CA Nilesh Sahu
telescopic sights or other optical devices suitable for use with arms, unless mounted on a firearm or presented with the firearm on which they are designed to be mounted (Chapter 90);
 Customs Tariff 2009-10 - PART-II - Chapter 92 - Musical instruments; parts and accessories of such articles
By CA Devender Singh
parts of general use, as defined in Note 2 to Section XV, of base metal (Section XV), or similar goods of plastics (Chapter 39);
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Finance Bills   RSS Feeds
 The Companies (Removal Of Difficulties) Seventh Order - dated 4th Sept 2014 New
By CA Manu T George
Whereas the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act) received the assent of the President on the 29th August, 2013 and section 143 of the Act,
 Finance & Commerce Ministry to discuss draft BIPA model tomorrow
By CA Nilesh Sahu
Officials of the finance and the commerce and industry ministries are scheduled to discuss the issues related to the draft text of the Bilateral Investment Promotion and Protection Agreement (BIPA) tomorrow.
 Union Finance Minister Shri Arun Jaitley said that the revenue targets fixed for Direct Taxes for the current Financial Year 2014-15 would not only be achieved but would also be surpassed
By CA Nilesh Sahu
The Union Finance Minister Shri Arun Jaitley hoped that the revenue targets fixed for Direct Taxes for the current Financial Year 2014-15 would not only be achieved but would also be surpassed.
 Finance ministry may pitch for higher tax exemption on health insurance
By CA Mayank Jain
The finance ministry is likely to pitch for a substantial increase in the income-tax exemption limit for health insurance as part of its plan to deepen insurance coverage. The ministry is examining a proposal that seeks to double the limit to 30,000 from 15,000.
 Finance minister reviews annual performance of public sector banks and financial institutions for 2013-14; calls for tougher action against wilful defaulters; highest ever more than 10,000 new branches opened during 2013-14
By CA Devender Singh
The Union Finance Minister Shri P. Chidambaram said that the last Financial Year 2013-14 was a difficult year even though there was positive movement towards greater stability.
 India Infrastructure Finance Company to raise Rs 7,000 crore through tax-free bonds
By CA Manu T George
State-owned India Infrastructure Finance Company (IIFCL) plans to raise Rs 7,000 crore via a public issue of tax-free bonds in October, according to a senior company official
 Finance Ministry hopes RBI focusses on promoting growth in policy tomorrow
By CA Atul Gupta
Ahead of tomorrow's monetary policy review, the Finance Ministry has expressed the hope that Reserve Bank will focus on promoting growth.
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