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News Headlines   RSS Feeds
  How to file ITR for FY 2016-17 and all the links you need
By CA Manu T George
The Income tax department has already notified the income tax return forms to be used for filing returns for FY 2016-17 or assessment year 2017-18.
 All about E-way Bill under GST
By CA Manu T George
Preliminary data on India’s balance of payments (BoP) for the first quarter (Q1) i.e., April-June 2017-18 are presented in Statements I (BPM6 format) and II (old format).
 Good and simple tax: on the GST regime
By CA Manu T George
A course correction is essential to fix the glitches in the GST regime
 Seeks to extend the time limit for filing of GSTR-1, GSTR-2 and GSTR-3
By CA Manu T George
In exercise of the powers conferred by the second proviso to sub-section (1) of section 37, first proviso to sub-section (2) of section 38 and sub-section
 Good news, find Tax Return Preparers soon at a place near you; 5 things to know
By CA S K Verma
In a bid to help small taxpayers in filing their income tax return, the Income Tax Department has decided to appoint at least one trained tax personnel in every district of the country.
 Filing of GST return
By CA Nilesh Sahu
The regular Returns filing (GSTR-1, GSTR-2, and GSTR-3) deadline relaxed for July/August 2017. The Time period for filing returns (GSTR-1, GSTR-2, and GSTR-3) is given below
 Why cement companies are going in for M&As
By CA Mayank Jain
It’s a dog-eat-dog scenario in the Indian cement sector as the pace of mergers and acquisitions (M&As) has been robust in the last few years.
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Continuing Prof. Edu.   RSS Feeds
 GST Returns and ITC under GST. (INDIRECT TAXES)
By CA S K Verma
Place: Laxmi Nagar CPE Study Circle of NIRC Date: 22-09-2017 – To: 22-09-2017 CPE.Hrs.: 5
 Seminar on GST & ICDS, it’s Impact, Disclosure and how to tackle them. (INDIRECT TAXES)
By CA Ojas Aggarwal
Place: Jammu & Kashmir Branch Of NIRC Date: 21-09-2017 – To: 21-09-2017 CPE.Hrs.: 6
 Group Discussion on Place of Supply and Input Tax Credit under Revised Model GST Law (INDIRECT TAXES)
By CA Devender Singh
Place: Gurgaon Branch Of NIRC Date: 15-09-2017 – To: 15-09-2017 CPE.Hrs.: 3
 Import & Export Procedure Under GST (Indirect Taxes)
By CA S K Verma
Place: Natural Gas CPE Study Circle for Members in Industry of ICAI Date: 15-09-2017 – To: 15-09-2017 CPE.Hrs.: 2
 Refresher Program on International Taxation (INTERNATIONAL TAXATION)
By CA S K Verma
Place: Northern India Regional Council Date: 16-09-2017 – To: 17-09-2017 CPE.Hrs.: 12
 GST-ITC, Trans, E-Way Bill & Miscellaneous Issue (INDIRECT TAXES)
By CA Ojas Aggarwal
Place: East Delhi CPE Study Circle of NIRC Date: 15-09-2017 – To: 15-09-2017 CPE.Hrs.: 5
 GST-ITC, Trans, E-Way Bill & Miscellaneous Issue INDIRECT TAXES
By CA Rashmi Sharma
Place: East Delhi CPE Study Circle of NIRC Date: 15-09-2017 – To: 15-09-2017 CPE.Hrs.: 5
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GST - Goods and Services Tax   RSS Feeds
 Govt eyes infra spending cuts as glitches in GST hit revenue
By CA Devender Singh
Post the launch of GST, the govt could be forced to cut spending on key infrastructure as lower-than-expected tax collections and sluggish growth have upset its budget calculations
 It’s possible to seriously simplify GST
By CA Rashmi Sharma
The Goods and Services Tax Network is facing starting hiccups, which is hardly surprising.
 GST has safeguards to check tax evasion
By CA Andrew F Thomas
If some traders and businessmen are trying to hoodwink the system by suppressing part of cash based transactions with the connivance of consumers, they will be doing so at their own peril, warns the Commercial Taxes department.
 Tax officials may go for searches, surveys to widen base under GST
By CA Rashmi Sharma
In its attempt to bring more companies under the goods and services tax (GST) umbrella, the tax department is planning to conduct searches and surveys across the country, a senior tax official told ET.
 GST revision only once in 3 months among key recommendations to GST Council
By CA Andrew F Thomas
The review of GST rates once every 3 months, a convergence of tax rates to 12% and 18% — are among the new recommendations to the GST Council through a new "approach paper" prepared by the Fitment committee.
 Finally, exporters hope for solution to GST woes
By CA Manu T George
There is finally some respite for lakhs of exporters who have been complaining about goods and services tax (GST) eating into their margins and impacting shipments already grappling with poor infrastructure and an appreciating rupee.
 No GST on sitar, but tax string on guitar
By CA Rashmi Sharma
Every district of the country will soon have at least one trained personnel to assist small taxpayers in filing ITRs,
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Markets   RSS Feeds
 FM calms nerves, says no plan to tax market gains
By CA S K Verma
In a bid to calm frayed nerves of stock market players, Finance Minister Arun Jaitley on Sunday clarified the government has no intention to impose a tax on long-term capital gains from trading in shares.
 Why we must tweak the market-led model
By CA Ojas Aggarwal
ACCORDING to the latest report by the New World Wealth, after Russia, India is the second most unequal nation in the world as 54 per cent of its wealth is in the hands of millionaires.
 PE transactions prompt income tax queries over round tripping concerns
By CA Atul Gupta
Domestic companies raising private equity funding in the near term are likely to face increased scrutiny from tax sleuths looking for instances of round tripping.
 Amended India-Mauritius tax treaty only covers investments in shares
By CA Andrew F Thomas
The revamped India-Mauritius tax treaty will apply to only investments in shares and not to other instruments, details of the agreement released by Port Louis showed.
 Government drops cap gains tax on startup shares held for 2 years
By CA Nilesh Sahu
In a fresh boost to startups, the government on Thursday inserted an amendment to the Finance Bill to provide for capital gains tax exemption if shares of an unlisted company were held for more than two years.
 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.
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General   RSS Feeds
 Questions about the GST cess
By CA Nilesh Sahu
As part of the Goods and Services Tax (GST) reforms that have been implemented in the country, a new levy called the GST Compensation Cess has been introduced to make good apprehended losses to States in the first five years of GST implementation.
 How to prepare for the looming tax-extension deadline
By CA Manu T George
Back in April, the Internal Revenue Service (IRS), processed more than 145 million tax returns.
 Income tax: Gratuity for employees raised to Rs 20 lakh; here is how you will benefit
By CA Mayank Jain
The Centre has recently approved an amendment that seeks to increase the maximum limit of gratuity for private and public sector employees fromRs 10 lakh to Rs 20 lakh. Here’s how you will benefit
 Haryana to set up scrutiny panel on GST benefits
By CA Atul Gupta
The Haryana government today said it has decided to constitute a two-member scrutiny committee to determine whether reductions in tax rates post rollout of GST have been passed on to consumers.
 Waive certain taxes for companies in insolvency proceeding
By CA Mayank Jain
Industry body Assocham today sought from the government slew of tax relief for companies against whom insolvency proceedings have been initiated.
 I-T department to appoint 7600 more tax return preparer scheme to cover entire country
By CA Nilesh Sahu
Every district of the country will soon have at least one trained personnel to assist small taxpayers in filing ITRs, with the Income Tax Department proposing to appoint 7,600 additional experts whose services will also be available on mobile application.
 All eyes are on GST as Centre plans higher social pension
By CA Rashmi Sharma
The government has readied a draft proposal to increase the quantum of the three key "social pensions" but all eyes are on the state of revenues post-GST, with the revamp now hinging on whether the Centre will have resources to fund the revision.
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Corporate Law   RSS Feeds
 Government firm on tax law changes, relents on tribunal postings
By CA Ojas Aggarwal
Addressing one of the major concerns of the Opposition on the Finance Bill, the government Wednesday assured Parliament that all judicial appointments in regulatory bodies or tribunals, many of which are being restructured in one go through provisions in the Finance Bill, will continue to be made in consultation with the judiciary.
 Income Tax relief on money in single parent’s account may lead to tax evasion: Law panel
By CA Rashmi Sharma
The income tax exemption on the money deposited in a single parent's account as maintenance for a minor child in a divorce settlement case could open flood gates of tax evasion, the Law Commission warned today.
 Law panel against income tax relief for single parents
By CA S K Verma
The Law Commission is learnt to have decided against recommending income tax exemption on the money deposited in a single parent’s account as maintenance for a minor child in a divorce settlement case.
 Maintenance of Accounts and other record in GST Law
By CA Rashmi Sharma
No specific list of accounts or record has been prescribed in Section 53 of GST Law.
 Parliament Votes to Extend Value Added Tax Law
By CA Ojas Aggarwal
Legislators on Sunday extended the enforcement of value added tax for the upcoming fiscal year (starting March 21) and dropped the newly-proposed article narrowing the tax base to the final consumer.
 Taxation Laws (Second Amendment) Act, 2016 ​​​​​​​​​​​​​​​​​​​​​​​​​​​​
By CA Mayank Jain
In the Income-tax Act, 1961 (hereinafter referred to as the Income-tax Act), in Amendment of section 115BBE, for sub-section (1),
 Glimpse of Invoices Revised Model GST Law
By CA Nilesh Sahu
The esteemed vision of Hon’ble Prime Minister to create a digital and paper less economy cannot be crystalize without the digitalization of documentation and removal of hurdle of hard document.
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Students   RSS Feeds
 Announcement for Intermediate (Integrated Professional Competence) Course Students to Commence Practical Training
By CA Atul Gupta
Pursuant to the amendment in CA Regulations, 1988, a candidate who has passed either or both the Groups of Intermediate (Integrated Professional Competence) Examination can commence their Practical Training.
 Intermediate-Announcement for May, 2018 old and new syllabus
By CA Andrew F Thomas
GST Be Examined In Section B ­ Indirect Taxes Of Paper 4: Taxation In May, 2018intermediate (Ipc) Examination Under Old Scheme Of Education And Training
 Certificate Course on Forex and Treasury Management –Forthcoming Batches Mumbai ,Hyderabad, Noida & Kolkata
By CA Ojas Aggarwal
Certificate Course on Forex and Treasury Management –Forthcoming Batches Mumbai ,Hyderabad, Noida & Kolkata
  November-2017 CA Examinations
By CA Ojas Aggarwal
In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988,
 Announcement for ICAI-CAMPUS (August-September, 2017) Aspirants
By CA Manu T George
Completion of GMCS is mandatory for taking part in ICAI Campus Placement Programme, meant for Newly Qualified CAs. Accordingly,
 Date and Time Schedule for Webcast and Mock Test Papers for May’ 2017 Examination
By CA Devender Singh
The Board of Studies has organized LIVE Webcasts for Intermediate (IPC) Course and Final Course students on how to prepare for respective subjects for May, 2017
 Announcement for the Students of CPT level for June, 2017 Examination - Section A: Fundamentals of Accounting
By CA Mayank Jain
The Ministry of Corporate Affairs (MCA) has notified Companies (Accounting Standards) Amendment Rules, 2016 (G.S.R. 364(E) dated 30.03.2016) wherein MCA has omitted AS 6,
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New Forms   RSS Feeds
  Form DVAT 01 - Application For Opting For Composition Scheme by a dealer registered
By CA Devender Singh
Instructions for dealers opting for composition scheme (For details refer section 16 of the Act and Rule 5 of these rules)
 Requirement of item wise details in Forms Annexure - 2A, Annexure - 2B, DVAT- 30 and DVAT 31
By CA Manu T George
Requirement of item wise details in Forms Annexure - 2A, Annexure - 2B, DVAT- 30 and DVAT 31
 Amendment of ANF 3C Application for on line filing of Grant of Status Certificate
By CA S K Verma
In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy 2015-20,
 Regarding Form CR-II.
By CA Manu T George
In exercise of the powers conferred on me under section 27 of Delhi Value Added Tax Act, 2004 and in partial rnodification to the notification No.F.3(628)/Policy/VAT/2016/ 1424-36 dated 11th February,2016
 Filing of reconciliation return in Form 9 for the year 2014-15
By CA Nilesh Sahu
In partial modification to this department's Circular No. 34 of 2015-16 on the subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005
  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
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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
 Extension of date empanelment of members to act as observers for November / December 2017 examinations up to 25th September, 2017
By CA Nilesh Sahu
In continuation to the announcement dated 10th august, 2017 empanelment of members to act as observers at the examination centres for the chartered accountants examinations, November / December 2017,
 CPE Events 18 September- 23 September 2017
By CA Atul Gupta
CPE Events 18 September- 23 September 2017
 Invitation for expression of interest from software development companies for providing software relevant to the Practitioners & CA Firms of ICAI by 31 October
By CA Andrew F Thomas
Invitation for Expression of interest (EOI) from software development companies for providing software relevant to the Practitioners & CA Firms of ICAI by October 31, 2017
 Peak Filing Preparation 2017-MCA 21
By CA Nilesh Sahu
As you are aware it is time of peak filing of Balance Sheet & Annual Return under the Companies Act.
 Group for suggesting ways and means to resolve Inter unit reconciliations issues including re-engineering the process/procedures, revenue sharing, between HO and branches, various grants payable and accounting entries thereof, especially in GST regime
By CA Devender Singh
The President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017, has constituted a Group for suggesting ways and means to resolve Inter unit reconciliation issues including re-engineering the process/procedures,
 Weightage of Marks at All Levels of CA Course Under Revised Scheme of Education and Training
By CA S K Verma
Students may please note that under the New Scheme of Education and Training, it has been decided to assign weightage of marks to various sections of a subject
 CBDT has extended the due date for filing Income Tax Returns and audit reports from 30th September 2017 to 31st October 2017
By CA Devender Singh
CBDT has extended the due date for filing Income Tax Returns and audit reports from 30th September 2017 to 31st October 2017
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From the Courts   RSS Feeds
  Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
By CA Nilesh Sahu
This is an appeal by the Revenue against the order dated 6th June 2008 passed by the Income Tax Appellate Tribunal (`ITAT') in ITA No. 1848/Del./2000 & ITA No.1803/Del./2000 for the Assessment Year (`AY') 1995-96.
 Commissioner Of Income Tax, Delhi-Iv Vs. DLF Universal Ltd.
By CA Devender Singh
This is an appeal by the Revenue against the order dated 6th June 2008 passed
 Jcb India Ltd. Vs. Deputy Commissioner Of Income Tax &
By CA S K Verma
These are three writ petitions by JCB India Ltd. seeking quashing of an order dated 30th March 2016 passed
 Saheb Ram Om Prakash Marketing Pvt Ltd Vs. Commissioner Of Income Tax & ORS
By CA Ojas Aggarwal
The challenge in this petition under Article 226 of the Constitution of India by Saheb Ram Om Prakash Marketing Pvt. Ltd.
 Tulsi Tracom Private Limited Vs. Commissioner Of Income Tax – 9
By CA Atul Gupta
This is an appeal under Section 260 A of the Income Tax Act, 1961 (hereinafter referred to as `the Act')
 M/s Brothers & Sisters Enterprise vs. JCIT (ITAT Kolkata)
By CA Rashmi Sharma
CBDT guidelines for scrutiny of cases: Law explained as to how the CBDT Guidelines for manual selection of cases for scrutiny have to be interpreted and whether CIT in granting approval is required to show application of mind and give reasons for his decision
 PCIT vs. Delhi Airport Metro Express Pvt. Ltd (Delhi High Court)
By CA Andrew F Thomas
S. 263 Revision: For the purposes of exercising jurisdiction u/s 263, the conclusion of the CIT that the order of the AO is erroneous and prejudicial to the interests of the Revenue has to be preceded by some minimal inquiry.
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Auditing   RSS Feeds
 Time Limit For Completion Of Assessment From The Date Of Special Auditors Report Under Income Tax Act, 1961
By CA Rashmi Sharma
Section 142(2A) of the Income Tax Act, 1961 (Act for short) provides for the conduct of special audit that may directed by the Assessing Officer.
 Provisioning pertaining to Fraud Accounts
By CA Rashmi Sharma
Please refer to circular DBR.No.BP.BC.83/21.04.048/2014-15 dated April 1, 2015 on the captioned subject. On a review, it has been decided to amend the provisioning norms in respect of all cases of fraud, as under:
 Tax Audit Report (TAR) Certain exceptions and increased limits according to number of partners and considering nature of activity are desirable
By CA Devender Singh
Provisions relating to maintenance of accounts and obtaining of TAR are old provisions and we find that very low limits fixed long ago have remain in force for long time.
 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),
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Latest Circulars   RSS Feeds
 RBI-Auction of Government of India Dated Securities September 18, 2017
By CA Atul Gupta
The auction for securities will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions.
 RBI releases Handbook of Statistics on the Indian Economy 2016-17
By CA Mayank Jain
Today, the Reserve Bank of India released the nineteenth volume of its annual publication titled “Handbook of Statistics (HBS) on the Indian Economy 2016-17”.
 Sources of Variation in Foreign Exchange Reserves in India during April-June 2017
By CA Mayank Jain
Earlier today, the Reserve Bank of India released balance of payments (BoP) data for April-June 2017 on its website (www.rbi.org.in).
 Inclusion of “Emirates NBD Bank (P.J.S.C)” in the Second Schedule to the Reserve Bank of India Act, 1934
By CA Ojas Aggarwal
We advise that the “Emirates NBD Bank (P.J.S.C)” has been included in the Second Schedule to the Reserve Bank of India Act, 1934
  Master Circular on Conduct of Government Business by Agency Banks - Payment of Agency Commission
By CA Atul Gupta
The Reserve Bank of India carries out the general banking business of the Central and State Governments through its own offices
 Shri Rajiv Kumar, Secretary, Department of Financial Services, nominated on RBI Central Board
By CA Mayank Jain
The Government of India has nominated Shri Rajiv Kumar, Secretary, Department of Financial Services, Ministry of Finance, Government of India,
 RBI-Monthly Bulletin for September 2017
By CA Andrew F Thomas
The Reserve Bank of India today released the September 2017 issue of its monthly Bulletin.
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VAT (Value Added Tax)   RSS Feeds
 Cenvat Credit Is Not Income Liable To Be Taxed
By CA S K Verma
Rule 3 of CENVAT Credit Rules, 2004 allows the manufacturer or producer of final products or provider of output service to take credit on certain taxes paid
 Cos wanting to claim VAT refund on employees' foreign stay can get professional help
By CA Manu T George
When a company takes its employees for an offsite visit abroad, the VAT paid on the local travel and the hotel accommodation is refundable.
 Regarding disposal of pending form DVAT 04 & 07 Form Applications
By CA Manu T George
Regarding disposal of pending form DVAT 04 & 07 Form Applications
 Disposal of pending Form DVAT 04 & Form DVAT 07 applications: regarding
By CA Nilesh Sahu
As you are aware, we have ushered into a new Tax regime with the roll out of GST which has taken effect from 1st July, 2017.
 Cenvat Credit Rules, 2017 III Part
By CA Andrew F Thomas
Rule 11(5) provides that the manufacturer of final products shall submit a monthly return in the form specified by the notification, by the Board.
 VAT phased out in TS
By CA Rashmi Sharma
The twelve-year journey of Value Added Tax (VAT) in the State ended on Thursday with its dealers meeting the deadline for filing of the final returns of income.
 Cenvat Credit Rules, 2017 II Part
By CA Ojas Aggarwal
In this part we will discuss the obligation of a manufacturer or producer of final products under Rule 8. In this regard we may refer definitions of some terms.
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Budget Extravaganza   RSS Feeds
 New look finance ministry team to frame contours of Budget 2018
By CA Ojas Aggarwal
Finance Minister Arun Jaitley's fifth Union Budget will sport a different look, starting with a lighter `Part B’ with fewer indirect tax changes because of GST
 How presenting the Budget early seems to be paying off already
By CA Ojas Aggarwal
Breaking with a long-standing tradition, Finance Minister Arun Jaitley presented the Union Budget a full four weeks early this year and the results already seem to be showing in terms of expenditure.
 Budget advancement helps Centre, states start spending early
By CA Rashmi Sharma
Advancing the Budget and notifying the Finance Act, 2017, have enabled the Centre and state governments to start spending from the first month of the financial year from the central funds.
 Five things that you can expect from the Mumbai civic budget today
By CA Andrew F Thomas
Mumbai civic chief Ajoy Mehta will present the Brihanmumbai Municipal Corporation’s (BMC) budget for the financial year 2017-18
 GST all set for July 1 rollout but casts shadow on state budgets
By CA Ojas Aggarwal
With GST all set to be rolled out from July 1, states have not made too many changes in the indirect tax structure in their budgets for 2017-18.
 Income-Tax collection revised in Rajasthan budget
By CA Manu T George
Expecting a major increase in salaries after implementing the 7th Pay Commission for state government employees this year, the state has upwardly revised its budget estimate from income tax (I-T) collection for 2017-18.
 No new taxes likely in Maharashtra Budget
By CA Rashmi Sharma
Maharashtra finance minister Sudhir Mungantiwar on Thursday indicated that there will not be any new tax burden on the common man.
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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 S/shri N. K. Billaiya, Am & S.S. Godara, JM Causelist For Bench 'A' 18/09/2017
By CA Devender Singh
Income Tax Appellate Tribunal Ahmedabad Benches , ) Ahmedabad S/shri N. K. Billaiya, Am & S.S. Godara, JM Causelist For Bench 'A' 18/09/2017
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 18th September To 29th September , 2017.
By CA S K Verma
Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 18th September To 29th September , 2017.
 Income Tax Appellate Tribunal Kolkata Benches Kolkata Constitution of Kolkata Benches from 11/09/2017 To 14/09/2017
By CA Andrew F Thomas
Income Tax Appellate Tribunal Kolkata Benches Kolkata Constitution of Kolkata Benches from 11/09/2017 To 14/09/2017
 Income Tax Appellate Tribunal Mumbai Benches Mumbai Consolidated Cause of SA/MA/Pronouncement for friday 15/09/2017
By CA Nilesh Sahu
Income Tax Appellate Tribunal Mumbai Benches Mumbai Consolidated Cause of SA/MA/Pronouncement for friday 15/09/2017
 Income Tax Appellate Tribunal : Mumbai Benches : Mumbai Consolidated list of Orders ready for Pronouncement on 13/09/2017
By CA Nilesh Sahu
Income Tax Appellate Tribunal : Mumbai Benches : Mumbai Consolidated list of Orders ready for Pronouncement on 13/09/2017
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated list of Orders ready for Pronouncement on 13/09/2017
By CA Devender Singh
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated list of Orders ready for Pronouncement on 13/09/2017
 Income Tax Appellate Tribunal, Bangalore Benches: Bangalore Revised Constitution on 14/09/2017
By CA Atul Gupta
Income Tax Appellate Tribunal, Bangalore Benches: Bangalore Revised Constitution on 14/09/2017
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Placements & Empanelment   RSS Feeds
 New Opening Finance Manager( Chartered Accountant),
By CA Mayank Jain
Salary:INR 19,00,000 - 22,50,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
 25LPA-New Opening DGM/ GM Direct Taxation For A Power Company
By CA Manu T George
Salary: INR 22,50,000 - 25,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, PG - Any Postgraduate, CA
  New Opening SR Executive/ Assistant Manager (fund Accounting)
By CA S K Verma
Salary:INR 9,00,000 - 13,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 25 LPA-New Opening Manager / Senior Manager - Accounting Projects (individual Role)
By CA Ojas Aggarwal
Salary:INR 18,00,000 - 25,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA - First Attempt,
 22.5 LPA Financial Accounting Manager - Need Only Qualified CA Professionals
By CA Manu T George
Salary:INR 15,00,000 - 22,50,000 P.A.,Functional Area:ITES , BPO , KPO , LPO , Customer Service , Operations,
  New Opening SR Executive/ Assistant Manager (fund Accounting)
By CA Rashmi Sharma
Salary:INR 9,00,000 - 13,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 New Opening Assistant Branch Manager/branch Accountant
By CA Andrew F Thomas
Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, Role:Chartered Accountant
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Direct Tax   RSS Feeds
 TDS Applicability On Government Contracts Under Gst (Under Section 51 Of The Cgst Act, 2017)
By CA Rashmi Sharma
Tax Deducted at Source (TDS) is a system introduced by Income Tax Department, where person responsible for making specified payments such as salary,
 CBEC tells field officers to take GST disputes to Supreme Court
By CA Andrew F Thomas
Central Board of Excise and Customs (CBEC), the indirect tax administration of the union government, on Monday instructed its field officers to prepare to move the Supreme Court on all disputes where levy of goods and service tax (GST) has been questioned or stayed by any high court.
 Jurisdiction-free income-tax assessment on the cards
By CA Ojas Aggarwal
The success of the pilot, to be first carried out in New Delhi and Mumbai, will determine if the plan has to be expanded all over the country, a senior revenue department official said.
 CBDT asks I-T department to take urgent steps
By CA Mayank Jain
With revenue collection from the TDS category witnessing a sluggish pace, the CBDT had asked the I-T department to pull up its socks and take "urgent" steps and also conduct survey operations to shore up the funds.
 TDS on interest on deposits made under the Capital Gains Accounts Scheme, 1988 where the depositor has deceased
By CA Devender Singh
It has been brought to the notice of CBDT that in cases of deceased depositor who has made deposits under the Capital Gains Accounts Scheme, 1988;
 Tax evaders set to face action: CBDT chairman Sushil Chandra
By CA Manu T George
CBDT chairman Sushil Chandra says income tax dept will soon conclude probe into financial dealings of about 100,000 individuals suspected of tax evasion
 Income-tax department calls big corporate entities to pay advance taxes
By CA Manu T George
The income-tax (I-T) department is “coaxing” top corporate entities to make the 45 per cent of the total advance tax payment by September 15,
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Service Tax   RSS Feeds
 A 5-Point Guide For Buyers To Understand The Effect Of GST On Real Estate
By CA Andrew F Thomas
The big question for the buyer: "The property you want to buy, has it got cheaper or more expensive after the implementation of GST?"
 Stalled unsorted diamond imports to resume after GST rate revision
By CA S K Verma
Industrial unsorted rough diamond imports, which had stopped due to a three per cent Goods and Services Tax (GST) since July this year, may resume after rate revision to 0.25 per cent, say industry representatives.
 TDS, TCS deductors can apply for GST registration from 18 September
By CA Mayank Jain
The GST registrations for entities mandated to collect and deduct tax at source will start from 18 September; the date from which TDS or TCS is to be done will be notified later
 E-commerce companies face tax heat as I-T department says discounts should be treated as capital spend
By CA Mayank Jain
E-commerce giants such as Flipkart and Amazon have appealed against an income tax order of last year which if implemented would force them to pay tax at a time when they are engaged in a do-or-die battle for market share in India.
 Central Goods and Services Tax (Sixth Amendment) Rules, 2017
By CA Rashmi Sharma
In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, namely:-
 GST will also impact direct tax collection
By CA S K Verma
Finance Minister Arun Jaitley on Wednesday said that the Goods and Services Tax (GST) is bound to impact the direct tax collection as well due to the increased detection technology and greater compliance.
 Seeks to extend time period for filing of details in FORM GSTR-6 for months of July & August
By CA Andrew F Thomas
In exercise of the powers conferred by sub-section (6) of section 39 read with section 168 of the Central Goods and Services Tax Act, 2017
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Transfer Pricing   RSS Feeds
 India to reform port pricing to spur investment
By CA Rashmi Sharma
Global marine terminal operators that have led port privatization in India could unshackle themselves from a long-running and complicated pricing regime as the government draws up new legislation allowing rebidding on older contracts under revised tariff rules set in 2013.
 New rules to cut transfer pricing disputes
By CA Manu T George
India has unveiled a new set of rules that aim to further provide certainty to multinationals and reducing transfer pricing disputes and litigation.
 NLSIU gets endowment chair to carry out research on international best practices
By CA Nilesh Sahu
In a significant shift in how future policies in some key government departments such as the direct and indirect taxes administration are to be framed,
 India and Japan to ramp up cooperation in northeast, defence
By CA Devender Singh
India and Japan will look to further ramp up defence cooperation during the visit of Japanese PM Shinzo Abe this week even as progress in the negotiations for purchase of US 2i surveillance aircraft by India from Tokyo remains in the realm of speculation.
 Why investors should be wary of pricing guidelines
By CA Atul Gupta
‘Price is what you pay. Value is what you get’. Most of us would have read this profound quote by Warrant Buffet, one of the most successful investors of all time. The quote lays down the fundamental principle for making investments.
 CBDT signs 4 more Advance Pricing Agreements
By CA Ojas Aggarwal
The Central Board of Direct Taxes (CBDT) has entered into four more Advance Pricing Agreements (APAs), pertaining to sectors like telecom, banking, manufacturing and education, during August, an official statement said on Monday.
 Multinationals face quandary over transfer pricing
By CA Atul Gupta
Tax collection from transfer pricing audits has become more common in Africa, with little sign that it will abate in the near future.
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Customs and Excise   RSS Feeds
 Man fleeing from Customs arrested
By CA Devender Singh
Customs sleuths on Saturday night arrested a 35-year-old resident of Kozhikode who had reportedly escaped from the Mangaluru International Airport on Friday after being caught for being in illegal possession of cannabis.
 Refund of amount on account of double-payment of Customs
By CA S K Verma
Attention of the Importers, Exporters and all other stakeholders is invited to the Facility Notice No 62/2012, dated 19.11.2012 issued by JNCH on the above subject.
 SC paves way for trial against RIL in 1987 excise evasion case
By CA Ojas Aggarwal
The Supreme Court has paved the way for trial against the Reliance Industries Ltd in a three- decade old case relating to alleged evasion of excise duty.
 GST: Govt sets up panel to receive profiteering complaints
By CA Atul Gupta
The Standing Committee on Anti-profiteering will act as a complaint processing machinery and will refer any cases it finds fit for investigation to the Directorate General of Safeguards (DGS)
 IGST on high-seas sale of imports is levied only during customs clearance
By CA S K Verma
The CBEC Circular no 33/2017-Cus dated August 1, 2017 clarifies that IGST on high-seas sale transactions of imported goods, whether one or multiple,
 Central Excise Rules, 2017 – Part II
By CA S K Verma
Rule 16 provides that the Central Government may, by notification, extend the facility of removal of any excisable goods from the factory of production to a warehouse or from one warehouse to another warehouse without payment of duty.
 Central Excise Rules, 2017 – Part I
By CA S K Verma
The GST subsumes excise duty, service tax and other indirect taxes levied by the State Governments. After the implementation of GST,
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Mergers and Acquisitions   RSS Feeds
  IBBI pitches for market driven mechanism for mergers, acquisitions
By CA Andrew F Thomas
Insolvency and Bankruptcy Board of India Chairperson M.S. Sahoo on Wednesday pitched for a market driven institutional mechanism to facilitate and enable mergers and acquisitions with minimum regulations that can conveniently safeguard the legitimate interests of concerned stakeholders.
 Air India disinvestment: Govt invites applications from investment bankers, law firms
By CA Nilesh Sahu
The government on Thursday invited applications for appointing transaction advisors and law firms in assisting strategic sale in the national carrier Air India.
 Govt seeks advisers for Air India disinvestment
By CA Rashmi Sharma
Taking forward the process for Air India divestment, the government on Thursday invited applications from investment bankers, law firms and other entities to act as advisers for strategic stake sale of the flag carrier.
 India Inc's M&A value dips 46 percent in August: Grant Thornton
By CA Andrew F Thomas
Corporate India's merger and acquisition activity moderated by 46 per cent to 939 million in August compared to same month last year as firms adopted "wait and watch" approach amid GST rollout, says a report.
 Deals of the day-Mergers and acquisitions Sep 12, 2017,
By CA S K Verma
The following bids, mergers, acquisitions and disposals were reported by 1300 GMT on Tuesday
 Deals of the day-Mergers and acquisitions Sep 5, 2017
By CA Atul Gupta
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT
 Nationalised Banks Exempted From CCI Approval For Mergers
By CA Nilesh Sahu
Paving way for fast-tracking consolidation in PSU banking space, the government has exempted mergers of nationalised banks from seeking fair trade watchdog CCI's approval.
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Indirect Tax   RSS Feeds
 What is a belated income tax return and what are its consequences
By CA Ojas Aggarwal
If you think you will miss the extended income tax return filing deadline also, there's still a chance for you to file your return.
 Why rejig of financial year could upset your tax planning
By CA Atul Gupta
On July 1st 2017 the most awaited and historic change to the Indian Taxation system was made with the introduction of the Goods and Services Tax (GST).
 The threat of harsh penalty should not impede tax compliance
By CA Nilesh Sahu
The Employees Provident Fund Organisation added over 10 million new subscribers after employers got an opportunity to file declarations for their unregistered employees with a nominal fee of Rs 1 per annum. The amnesty proved a pragmatic way to improve compliance.
 What are the tax exemption limits for allowances, reimbursements paid to employees? Find out
By CA Nilesh Sahu
Many of the allowances, reimbursements paid to us as a part of salary are tax-exempt up to a certain limit but the tax exemption is subject to certain conditions.
 High-income taxpayers to get priority treatment and extra facilities
By CA S K Verma
Welcome priority taxpayer, how may I help you? That could be the greeting you may get from the taxman, an encounter that's traditionally been far from friendly.
 GST input tax credit rules: How taxpayers will benefit from ITC
By CA Atul Gupta
The mechanism of input tax credit will ultimately reduce the final price to the wholesaler, retailer and consumer too, and cause a paradigm shift from individuals paying more taxes to more individuals paying taxes.
 More complications in filing income tax returns
By CA Ojas Aggarwal
Until recently, a person didn’t need to file a return if his taxable income was below Rs 2.5 lakh. But this year onwards, it doesn’t solely depend on the taxable income.
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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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