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News Headlines   RSS Feeds
 Want to file your income tax return online? Here’s the first step
By CA Atul Gupta
For individuals who want to fill out their ITRs themselves, the process can appear somewhat complex at first. Knowing which income tax slab you fall under, and what your tax liabilities are, is a good place to start.
 Good news for income tax payers! Taxmen can’t deny assessee’s legitimate claim in revised return, rules ITAT
By CA Manu T George
An assessee can now claim deduction by filing a revised income tax return even after the issue of notice by the Income Tax Department.
 Can file revised return after notice issued by I-T ITAT
By CA Manu T George
A tax benefit claimed by a taxpayer in his revised income-tax return cannot be denied outright by an income-tax (I-T) officer merely because the revised return has been filed after issue of notice, income-tax appellate tribunal (ITAT) has said.
 How to file income tax returns online if you don't have Form 16 ITR 2018-19
By CA Rashmi Sharma
You can file your returns by following these simple steps even if you haven’t received Form 16 from your employer.
 These 5 websites can help you file your ITR Income tax e-filing
By CA S K Verma
Income tax e-filing: Apart from the income tax department website, Taxpayers can file their income tax returns (ITR) on some other websites as well. Here are they.
 Here's why some retirees no longer have to file a tax return
By CA Andrew F Thomas
The tax cuts outlined in last month’s federal budget successfully passed the Senate today.
 How to file different categories of ITR forms online Income tax e-filing
By CA S K Verma
There are two ways of filling the form online. One is by manually entering all details and submitting the return online. The other is by uploading XML files through offline methods.
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Continuing Prof. Edu.   RSS Feeds
 Advance Ruling & Valuation Under GST
By CA Nilesh Sahu
Place: Karol Bagh Study Circle of NIRC Date: 07-07-2018 – To: 07-07-2018 CPE.Hrs.: 3
 E-Way Bill Under GST
By CA Devender Singh
Place: Pusa Road CPE Study Circle of NIRC Date: 05-07-2018 – To: 05-07-2018 CPE.Hrs.: 3
 Benami Property Law;Critical Issues in filing Income Tax Returns and Audit Reports incl tax audit
By CA Mayank Jain
Place: Tri Nagar Keshav Puram CPE Study Circle of NIRC Date: 06-07-2018 – To: 06-07-2018 CPE.Hrs.: 4
 GST Audit and Annual Report, E-way Bill issues
By CA Manu T George
Place: East Delhi CPE Study Circle of NIRC Date: From: 23-06-2018 – To: 23-06-2018 CPE.Hrs.: 5
  Financial Planning through Mutual Funds and Related Tax Implications and Overview of Benami Property Prohibition law and its interplay with Income Tax Act
By CA Devender Singh
Place: Daryaganj CPE Study Circle of NIRC Date: 22-06-2018 – To: 22-06-2018 CPE.Hrs.: 5
  Financial Planning through Mutual Funds and Related Tax Implications and Overview of Benami Property Prohibition law and its interplay with Income Tax Act
By CA Devender Singh
Place: Daryaganj CPE Study Circle of NIRC Date: 22-06-2018 – To: 22-06-2018 CPE.Hrs.: 5
  Financial Planning through Mutual Funds and Related Tax Implications and Overview of Benami Property Prohibition law and its interplay with Income Tax Act
By CA Devender Singh
Place: Daryaganj CPE Study Circle of NIRC Date: 22-06-2018 – To: 22-06-2018 CPE.Hrs.: 5
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GST - Goods and Services Tax   RSS Feeds
 GST amendments in Monsoon Session to make returns simpler
By CA Atul Gupta
The proposed GST changes will do away with filing returns under GSTR2 and GSTR3, modify the composition scheme, and eliminate ambiguities in the laws
 One country, one GST, lots of confusion
By CA Mayank Jain
What happens when two units of the Authorities of Advance Ruling (AAR) hold divergent views on whether cess can be transitional under Goods and Services Tax (GST)? Confusion reigns, for sure.
 GST formalising economy, widening tax base
By CA Atul Gupta
Historic tax reform GST has resulted in formalisation of the economy and consequently information flow would eventually augment not only the indirect tax collections but also direct tax collections," the ministry said in a statement.
 GST Refund Fortnight For Exporters Ends Today
By CA Nilesh Sahu
The government extended the special fortnight-long drive on Tuesday to process pending GST refunds.
 Funds collected under GST anti-profiteering rules to be split between Centre, state
By CA Mayank Jain
Centre and the 'concerned state' will equally share the amount deposited by erring businesses in the consumer welfare fund set up as part of the GST anti-profiteering rules, as per a Finance Ministry notification.
 GST payers can move jurisdictional tax officer to change username, password
By CA Devender Singh
Taxpayer would be required to approach the concerned jurisdictional tax officer to get the password for the GST Identification Number (GSTIN) allotted to the business
 Taxpayers can now change email, mobile number under GST system. Here's how to do it
By CA Manu T George
The government has introduced a new system to allow taxpayers to update email and mobile number in the GST System. This was introduced as many have complained that "the intermediaries who were authorized
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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
 Interest income from an NRO account is fully taxable in India
By CA Mayank Jain
Tax must be paid according to the income tax slab of the individual. It has to be reported under the head ‘income from other sources’
 Income tax payers filing appeals before ITAT will have to provide information relating to the amount locked up in dispute
By CA Manu T George
The form for filing appeals to the Income Tax Appellate Tribunal (ITAT) is being amended after 25 years.
 GST, infrastructure status drive PE investments in warehousing
By CA Manu T George
Government initiatives such as Make in India, implementation of the Goods & Services Tax and infrastructure status for the logistics sector have been pushing both demand for and investment in warehousing and industrial real estate across the country.
 Taxman should move towards limited scrutiny
By CA Andrew F Thomas
Cross-verification of information should be the norm, but detailed scrutiny of income tax returns should be an exception
  Government likely to withdraw tax notice on free banking services
By CA Rashmi Sharma
The tax department will likely withdraw a show-cause notice issued to several banks asking them to pay the service tax on ‘free services’ provided to customers, following the finance ministry’s intervention.
 GST Council may bring natural gas, aviation turbine fuel under its purview at next meeting
By CA Ojas Aggarwal
Under the existing structure, the fuels attract the Centre’s excise duty and a state’s value added tax
 IT department cautions TDS deductors against quarterly filing default
By CA Atul Gupta
No, in India there is no tax on inherited property. If there is any income from such property, then it is taxable in the hands of inheritor and gains are also taxable in the hands of inheritor at the time of sale of such property.
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Corporate Law   RSS Feeds
 Case Laws Relating To E-Way Bill
By CA Manu T George
The implementation of e-way bill has caused more delay because of the improvements to be done in the portal system. The Central Government has announced that the e-way bill system would be applicable for the inter-State transactions with effect from 01.02.2018 and the States would implement the e-way bill system for intra-State transactions by 1st June, 2018.
  Are we maintaining documents and records as required under GST Laws?
By CA S K Verma
By this time every tax professional is aware that GST is mainly following various kinds of compliances like filing of returns, e-way bills, etc.
 Are we maintaining documents and records as required under GST Laws?
By CA Mayank Jain
By this time every tax professional is aware that GST is mainly following various kinds of compliances like filing of returns, e-way bills, etc.
 Businesses tipped on new income tax law
By CA S K Verma
The business community has been urged to study and understand the new income tax law to be able to fully-benefit from it when it is implemented.
 Will Budget Make Changes In GST Laws
By CA Mayank Jain
Union Budget 2018-19 is just a fortnight away from now and there is one school of thought which say that Budget will not contain GST proposals.
 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.
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Students   RSS Feeds
 Announcement - Live Virtual Classes
By CA Mayank Jain
We are pleased to inform that the Board of Studies, the academic wing of the Institute, is planning to organize Live Virtual Classes at select centres*from July 16, 2018 for the benefit of Intermediate and Final level students of CA course for the May 2019 attempt with the following objectives:
 Assessment of CA Students after completion of 1st and 2nd year of practical training
By CA Mayank Jain
The Council has decided to assess students after completion of first and second year of practical training with online MCQ based tests.
 Certificate Course on Forex and Treasury Management-Forthcoming Batch at Bengaluru
By CA Devender Singh
Announcement for forthcoming batch of Certificate Course on Forex and Treasury Management
 Cut-off date for conversion from earlier scheme to Revised Scheme of Education and Training -Eligibility to appear in November, 2018 examinations.
By CA Manu T George
Cut-off date for students converting from earlier scheme to Revised Scheme of Education
 Announcement for the Certificate Course on Cooperatives at Gwalior from 26th May 2018
By CA Mayank Jain
The Committee for Co-operatives and NPO Sectors of ICAI is starting its next batch for the Certificate Course on Cooperatives at Gwalior.
 Roll No. data - PQC Exam in INTT-AT, May, 2018.
By CA Andrew F Thomas
Roll No. data - PQC Exam in INTT-AT, May, 2018.
 President's Message - February 2018
By CA Rashmi Sharma
Moreover, India’s recently-liberalised FDI policy, especially regarding the participation of non-resident Indians (NRIs) as domestic investors, has made India a prime destination, among the NRIs.
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New Forms   RSS Feeds
 Penalty on late filing of ITR and other tax changes effective from Apr 1
By CA Nilesh Sahu
Several major income tax changes will come into effect from the start of the new financial year, i.e., April 1, 2018. These include penalty on late filing of income tax returns (ITR),
 How to view, download your Form 26AS and why it is important
By CA Andrew F Thomas
Form 26AS, also known as Annual Statement, is a document that provides details of TDS, refunds associated with a PAN in a particular financial year
 E-Way Bill Mandatory From 01.02.2018
By CA Rashmi Sharma
Rule 138 of the Central Goods and Service Tax Rules, 2017 deals with the e-way bill which came into effect from 01.07.2017. But no rule has been framed at that time.
 FORM GSTR-3B v/s FORM GSTR-1
By CA Nilesh Sahu
The common errors while submitting FORM GSTR-3B and the steps needed to be taken to rectify the same in FORM GSTR-1 are provided in the table annexed herewith. The corresponding column in the table provides the steps to be followed by taxpayer to rectify such error:
 Form GSTR-3B of GST - Boon or Curse
By CA Atul Gupta
Form GSTR--3B is summary return inserted by Government vide Rule 61 of the CGST Rules,2017 in lieu of Form –GSTR-3 . It is a summary return in place of GSTR-3.
  Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Services Tax Rules, 2017
By CA Ojas Aggarwal
In exercise of the powers conferred by rule 117 of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017
 Form 64E is enabled in e-Filing to furnish the statement of income distributed by a securitisation trust
By CA Atul Gupta
In exercise of the powers conferred by section 295 read with sub-section (4) of section 115TCA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
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ICAI   RSS Feeds
 Launch of Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at ICAI Chennai from 7th July, 2018 to 4th August, 2018
By CA Manu T George
This educational course is as per 1st proviso to Rule 5 (1) of Companies (Registered Valuers and valuation) Rules, 2018 and a precondition for taking IBBI Registered Valuers Examination
 Special discount for Professional Accountants of South Asian Region for registering in the World Congress of Accountants (WCOA), 2018 from November 5-8, 2018, Sydney, Australia
By CA Andrew F Thomas
The World Congress of Accountants (WCOA) only happens once every four years and in 2018 the global accounting profession is coming to Sydney.
 Launch of Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at ICAI Jaipur from 14th July, 2018 to 11th August, 2018
By CA Devender Singh
This educational course is as per 1st proviso to Rule 5 (1) of Companies (Registered Valuers and valuation) Rules, 2018 and a precondition for taking IBBI Registered Valuers Examination
 Launch of Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at ICAI Jaipur from 14th July, 2018 to 11th August, 2018
By CA Devender Singh
This educational course is as per 1st proviso to Rule 5 (1) of Companies (Registered Valuers and valuation) Rules, 2018 and a precondition for taking IBBI Registered Valuers Examination
 Announcement for the Certificate Course on NPO at Noida from 14th July 2018
By CA Nilesh Sahu
The Committee for Co-operatives and NPO Sectors of ICAI is starting its next batch for the Certificate Course on NPO at Noida.
 Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) - Information Technology Test
By CA Nilesh Sahu
In partial modification of Important Announcement No. 13-CA (EXAM)/Advanced ICITSS/2018 dated 19th March 2018; it is hereby informed that Dubai City
 All members having certificate of practice, please click here to submit important information to ICAI - Last date for online submission is 30th June 2018.
By CA Nilesh Sahu
Furnishing of Information to the Group constituted by the Council to examine the issues arising out of the Judgement dated 23.02.2018
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From the Courts   RSS Feeds
 Assistant Commissioner Assessment Iv Trade Tax, Varanasi & Ors. Vs M/s Auto Centre
By CA Atul Gupta
Arising out of impugned final judgment and order dated 03-11-2017 in ITA No. 934/2017 03-11-2017 in ITA
 Ansal Housing And Construction Ltd. vs Assistant Commissioner Of Income Tax & Anr.
By CA Mayank Jain
Arising out of impugned final judgment and order dated 03-11-2017 in ITA No. 934/2017 03-11-2017
 40 LPA-Opening Financial Controller
By CA Atul Gupta
Salary: INR 35,00,000 - 40,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
 30 LPA-Opening Senior Manager Finance & Accounts,
By CA Mayank Jain
Salary: INR 15,00,000 - 30,00,000 P.A.,Functional Area: Accounts, Finance, Tax, Company Secretary, Audit,PG - CA, ICWA (CMA),
 Indus Best Hospitality & Realtors Pvt. Ltd vs. PCIT (ITAT Mumbai)
By CA Manu T George
S. 263 Revision: Explanation 2 to s. 263 inserted by the FA 2015 (which confers power upon the CIT to revise assessments where inadequate inquiries have been conducted by the AO)
 ITO vs. Wiz-Tech Solutions Pvt. Ltd (ITAT Kolkata)
By CA Rashmi Sharma
S. 68 Bogus share premium: Addition cannot be made on the ground that the directors of the share subscribers did not turn up before the AO. The assessee can be required to prove only such facts which are in his knowledge. Creditworthiness of the subscriber cannot be disputed by the AO of the assessee but by the AO of the subscriber.
 Pesak Ventures Ltd. vs. DCIT (ITAT Delhi)
By CA Andrew F Thomas
S. 159/ 163/ 176: While a notice/ order on a dead person/ wound-up company is a nullity, this is subject to the condition that the department is made aware of the death/ winding-up.
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Auditing   RSS Feeds
 Supreme Court puts the spotlight on audit firms
By CA Atul Gupta
The Supreme Court on Friday put the spotlight on the Big Four multinational accounting firms, directing that a committee be set up to tighten regulatory oversight over them.
 Auditing to be less of a burden as accountants embrace AI
By CA Nilesh Sahu
Among the more thankless tasks undertaken by junior accountants is meticulously checking off inventory at clients’ warehouses, which can involve scaling ladders with paper and pen in hand.
 CAG's report on GST will be totally paperless
By CA Devender Singh
The Comptroller and Auditor General (CAG) will come out with its first digital audit report, a complete paperless exercise, with its performance appraisal of the Goods and Services Tax, expected to come out sometime towards the end of this calendar year.
 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).
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Latest Circulars   RSS Feeds
 RBI-Customer Service provided by agency banks
By CA S K Verma
We are receiving complaints from various quarters that pensioners are not being treated with due consideration by bank officials, specifically the old pensioners, when they come to the branches for pension related transactions.
 RBI-Control measures for ATMs – Timeline for compliance
By CA Ojas Aggarwal
Please refer to our confidential Circular DBS.CO/CSITE/BC.8074/31.01.015/2016-17 dated April 17, 2017 (issued to banks) highlighting concerns about the ATMs running on Windows XP and/or other unsupported operating systems.
 RBI releases Draft Directions on requirement of Legal Entity Identifier Code for participation in non-derivative markets
By CA Rashmi Sharma
The Reserve Bank of India today released Draft Directions on requirement of Legal Entity Identifier Code for participation in non-derivative markets.
 Liberalised Remittance Scheme – Harmonisation of Data and Definitions
By CA Atul Gupta
Please refer to paragraph 18 of the Statement on Developmental and Regulatory Policies of the Second Bi-monthly Monetary Policy Statement for 2018-19released on June 6, 2018.
  RBI - Auction of Government o India Dated Securities
By CA S K Verma
The auction for securities will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions.
  Investment by Foreign Portfolio Investors (FPI) in Debt - Review
By CA Ojas Aggarwal
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Schedule 5 to the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2017
 CPE Events 18th May - 23th June 2018
By CA Rashmi Sharma
CPE Events 18th May - 23th June 2018
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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
 Can file revised return after notice issued by Income Tax department ITAT:
By CA Devender Singh
A tax benefit claimed by a taxpayer in his revised income-tax return cannot be denied outright by an income-tax (I-T) officer merely because the revised return has been filed after issue of notice, income-tax appellate tribunal (ITAT) has said.
 Income Tax Appellate Tribunal Chennai Benches Chennai Constitution for the week from 25/06/2018 To 29/06/2018
By CA Rashmi Sharma
Income Tax Appellate Tribunal Chennai Benches Chennai Constitution for the week from 25/06/2018 To 29/06/2018
 Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of SA/ MA /Pronouncement for friday 22.06.2018
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of SA/ MA /Pronouncement for friday 22.06.2018
 Income Tax Appellate Tribunal, Mumbai Consolidated list of orders ready for Pronouncement on 20.06.20 18
By CA Ojas Aggarwal
Income Tax Appellate Tribunal, Mumbai Consolidated list of orders ready for Pronouncement on 20.06.20 18
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 25-06-2018 To 29-06-2018 & 02-07-2018 To 05-07-2018
By CA Atul Gupta
Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 25-06-2018 To 29-06-2018 & 02-07-2018 To 05-07-2018
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated List Of Orders Ready For Pronouncement On 20/06/2018.
By CA Manu T George
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated List Of Orders Ready For Pronouncement On 20/06/2018.
 Income Tax Appellate Tribunal, Mijmbai Benches, Mumbai Cause List For Early Hearino Applications Fixed On 22/06/2018
By CA Rashmi Sharma
Income Tax Appellate Tribunal, Mijmbai Benches, Mumbai Cause List For Early Hearino Applications Fixed On 22/06/2018
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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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Placements & Empanelment   RSS Feeds
 60 LPA-Opening in a Leading FMCG Industry Head Internal Audit
By CA S K Verma
Salary: INR 40,00,000 - 60,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
 40 LPA-Opening CFO - Aquaculture Tech Startup
By CA Ojas Aggarwal
Salary: INR 30,00,000 - 40,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 32.5LPA-Opening General Manager Tax - For A Service Provider Company
By CA Devender Singh
Salary: INR 27,50,000 - 32,50,000 P.A.,Functional Area: Accounts, Finance, Tax, Company Secretary, Audit,PG - CA
 30 LPA-Opening Manager / Associate Director - Infrastructure Advisory
By CA Ojas Aggarwal
Salary: INR 22,50,000 - 30,00,000 P.A.,Functional Area:Strategy , Management Consulting , Corporate Planning
 30 LPA-Opening Manager / Associate Director - Infrastructure Advisory
By CA Ojas Aggarwal
Salary: INR 22,50,000 - 30,00,000 P.A.,Functional Area:Strategy , Management Consulting , Corporate Planning
 New Opening Indirect Taxation- Manager/ Assistant Manager- Big 4
By CA Devender Singh
Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
 34 LPA-Opening Group Finance Manager/sr. Manager
By CA S K Verma
Salary: INR 19,00,000 - 34,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
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Direct Tax   RSS Feeds
 Top 3 post office schemes with income tax benefits for you
By CA Mayank Jain
Post Office Savings Scheme: If you are seeking safe investment options that will help you earn a decent return, post office schemes are the right investment plans for you
 CBDT issues draft notification for amending computation of interest income
By CA Atul Gupta
The Department of Income Tax (IT) through the Central Board of Direct Taxes (CBDT) has prposed to amend Rule 10CB of IT Rules, 1962 in respect of computation of interest income pursuant to secondary adjustment u/s 92CE of IT Act, 1961.
 Claim home loan interest for tax deduction from rental income
By CA Manu T George
A tax deduction for repayment of housing loan under Section 80C of the income tax Act is available
  CBDT notifies new communication scheme
By CA Devender Singh
The Central Board of Direct Taxes (CBDT) has notified a new centralised communication scheme for serving e-notices to income tax-payers as part of the government’s ambitious plan to usher in a countrywide paperless system of interface between the taxman and the assessee.
 CBDT proposes changes to three IT forms, seeks public suggestions
By CA S K Verma
The Central Board of Direct Taxes (CBDT) has proposed amendments in two forms and one rule under to Income Tax Rules, 1962 (I.T.Rules).
 CBDT proposes amendments to three IT forms, invites public suggestions
By CA Atul Gupta
The Central Board of Direct Taxes (CBDT) has proposed amendments in two forms and one rule under to Income Tax Rules, 1962 (I.T.Rules).
 Income tax returns filing: This is what taxpayers must mention
By CA Manu T George
The Income Tax Department came out with a draft notification saying it is amending Form 36, 36A and Rule 47 under the I-T Act to seek information about pending disputes with a view to reframing its litigation policy.
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Tenders   RSS Feeds
 West Bengal Electronics Industry Development Corporation, Kolkata - West Bengal
By CA Andrew F Thomas
For technical queries regarding this tender and for other terms and conditions relating thereto, please contact Mr.Ashis Kumar Sasmal, General Manager(Finance)
 Airports Authority Of India, New Delhi
By CA Nilesh Sahu
Appointment of statutory auditor for audit of accounts of AAI EPF Trust for the Financial Year 2017 ­ 2018 and e-filing of income tax return"
 Andhra Pradesh Grameena Vikas Bank, Warangal, Andhra Pradesh
By CA S K Verma
Andhra Pradesh Grameena Vikas Bank invites applications on the enclosed application format from Retired Officials (Scale-III to Scale-V) from RRBs
 Department Of Welfare, Patna - Bihar
By CA Ojas Aggarwal
Bihar Mahadalit Vikas Mission invites proposal from Chartered Accountant Firms for Strengthening of Financial Management and Accounting System at BMVM State Office Patna.
 Employees State Insurance Corporation, New Delhi
By CA Ojas Aggarwal
This document is being published in connection with the proposed appointment of External Concurrent Auditor by the ESIC for the audit of ESIC's investments.
 Health And Family Welfare Department, Shimla, Himachal Pradesh
By CA Ojas Aggarwal
Govt. of India in partnership with the States is implementing the National Health Mission which comprises of various programmes with the objective of improving medical facilities in the rural areas and seeks to provide accessible,
 India Trade Promotion Organisation, New Delhi
By CA Manu T George
Notice Inviting Expression of Interest (EOI) for empanelment/appointment of Auditors for Physical Verification and reconciliation with accounting records towards fixed assets located/installed at various locations, of ITPO at its Head Quarter, Pragati Maidan, New Delhi-110001.
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Transfer Pricing   RSS Feeds
 CBDT proposes clear-cut timelines under transfer pricing
By CA Atul Gupta
The department, through a draft notification, suggested that the amount should be returned within 90 days of signing of APAs and MAPs.
 Taxman disallows AMP deductions sought by MNCs
By CA Devender Singh
The income-tax department has started issuing notices to several multinational consumer firms, disallowing deductions on expenses of advertising, marketing and sales promotion under a hitherto unused provision of the Income Tax Act.
 Transfer Pricing Dispute Resolutions in India: New Relaxations
By CA Atul Gupta
The Income Tax Department recently released a clarification stating that it would accept requests for mutual agreement procedures (MAPs) and bilateral advance pricing agreements
  CBDT to accept transfer pricing MAP sans riders
By CA S K Verma
The Delhi Tribunal also held that profit attribution is required as the transfer pricing study does not adequately capture functions performed and risks undertaken by the Indian Company.
 Indian Subsidiary Held To Be A Dependent Agent PE – Transfer Pricing Study Considered Inadequate
By CA Ojas Aggarwal
The Delhi Tribunal also held that profit attribution is required as the transfer pricing study does not adequately capture functions performed and risks undertaken by the Indian Company.
  New rules to cut transfer pricing disputes
By CA S K Verma
India has unveiled a new set of rules that aim to further provide certainty to multinationals and reducing transfer pricing disputes and litigation.
 Transfer pricing review and adjustments in Germany
By CA Rashmi Sharma
What rules, standards and procedures govern the tax authorities’ review of companies’ compliance with transfer pricing rules? Where does the burden of proof lie in terms of compliance?
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Customs and Excise   RSS Feeds
 Delhi Customs launches special drive to help exporters get quick tax refunds
By CA Andrew F Thomas
The Delhi Customs has launched a special drive to help exporters get quick refunds on taxes paid by them for exporting goods, Chief Commissioner of Delhi Customs Sunil K Sawhney said here today.
  Customs Audit Regulations, 2018
By CA S K Verma
The CBEC, In exercise of the powers conferred by clause (d) of section 157, read with clause (ii) of sub-section (2) of section 158, of the Customs Act, 1962
 Customs Audit Regulations, 2018
By CA Mayank Jain
The CBEC, In exercise of the powers conferred by clause (d) of section 157, read with clause (ii) of sub-section (2) of section 158,
 Central Board of Excise and Customs to be renamed CBIC by April
By CA S K Verma
Rechristening of the apex indirect tax policy making body CBEC to Central Board of Indirect Taxes and Customs (CBIC) is likely to happen by April after the budgetary exercise gets Parliament nod.
 Central Board Of Excise & Customs New Delhi GST Flyers
By CA Andrew F Thomas
The Flyers compiled by NACIN and vetted by the GST Policy Wing, CBEC are based on the CGST/SGST/UTGST/IGST Act(s), the CGST Rules, 2017
 Hike in customs duty on electronics likely to boost revenue collection
By CA Ojas Aggarwal
The recent hike in customs duty on electronic goods is expected to not only discourage imports and boost domestic manufacturing, but could also benefit the Exchequer in a year of muted revenue growth.
 Customs duty raised on electronic goods
By CA Atul Gupta
The increase in customs duty will boost government’s tax collection at a time when GST collections have fallen below expectations
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Mergers and Acquisitions   RSS Feeds
 Deals of the day-Mergers and acquisitions June 21, 2018
By CA Rashmi Sharma
China State Grid has raised its offer to 13.81 reais per share in CPFL Energias Renovaveis SA after Brazilian securities industry regulator CVM mandated a review on the criteria used by the Chinese company to calculate the offer price.
 Department of Telecommunications set to approve Idea-Vodafone merger – all you need to know
By CA Andrew F Thomas
The Department of Telecommunications (DoT) is all set to approve the merger between Vodafone India and Idea Cellular within the next few days.
 Deals Of The Day-Mergers And Acquisitions June 18, 2018
By CA Nilesh Sahu
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday
 Deals Of The Day-Mergers And Acquisitions June 12, 2018
By CA Devender Singh
Switzerland’s Swiss Re is set to acquire a 13.81 percent stake in Kenyan insurer Britam Holdings from an individual shareholder, both firms said.
 Competition Commission of India may suggest structural changes in Walmart-Flipkart deal
By CA Rashmi Sharma
Fair trade regulator CCI might recommend structural changes to the proposed USD 16-billion Walmart-Flipkart deal to address possible competition concerns, according to officials.
 What you need to know about the Government’s new M&A rules for SMEs
By CA Andrew F Thomas
Today the Government made changes to the UK’s merger and takeover regime to recognise the growing importance of small British businesses developing cutting edge technology products with national security applications.
 The Secret to a successful M&A valuation
By CA Manu T George
Every company, big or small, aspires to grow even bigger. Growth can have many facets to it. It can be in the form of adding new products, or customers or geographies which ultimately leads to increasing the topline or the bottomline. The big question then is how to grow?
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Indirect Tax   RSS Feeds
 CBDT notifies new I-T return forms
By CA Nilesh Sahu
The Central Board of Direct Taxes (CBDT) on Thursday notified income tax return (ITR) forms for assessment year 2018-19 (financial year 2017-18).
 Here are the key changes in tax rules to come into effect from today
By CA Andrew F Thomas
Finance Minister Arun Jaitley while presenting the Union Budget 2018 introduced some major changes in the tax structure which will become effective from today.
 GST revenue growth in 2018-19 to match last 10 years’ indirect tax growth, says SBI report
By CA Devender Singh
The goods and services tax collection would grow at a rate of 14 percent to 16 percent for FY18-19, SBI report said.
 Things You Should Know Before Filing Your Income Tax Returns (ITR)
By CA Devender Singh
The last day to file income tax returns for assessment years 2016-17 and 2017-18 is March 31. The Income Tax (IT) department has been issuing some warnings which tax payers should be wary of before filing their income tax returns by March 31, the last to file belated income tax returns.
 All education loans do not get income tax benefits
By CA Manu T George
While education loans from all banks can provide you the section 80E benefit, loans from NBFCs may or may not
 FM Arun Jaitley to focus on direct and indirect taxes
By CA S K Verma
The last full Union Budget to be presented by Finance Minister Arun Jaitley in the forthcoming session of Parliament beginning on Monday will be unlike his previous four such exercises because of the complete overhaul of the indirect tax regime effected by implementing the Goods and Services Tax (GST) last year.
 Income Tax For Individuals – Assessment Year 2019–20
By CA Atul Gupta
The individuals, especially the salaried people expected much from the Finance Minister in his budget for this year 2018. But the Finance Minister did not bring the income exemption limit and also the rate structure.
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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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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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