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News Headlines   RSS Feeds
 CBDT simplifies ITR filing process from FY18
By CA Ojas Aggarwal
The Central Board of Direct Taxes (CBDT) on Friday notified Income tax return (ITR) forms for the upcoming financial year (FY17-18).
 Govt extends service tax return filing date to April 30
By CA Andrew F Thomas
The Centre has extended the last date for filing service tax return by five days to April 30, in a relief to lakhs of service providers.
 No move to tax farm income, clarifies Arun Jaitley
By CA Nilesh Sahu
The Centre sought to distance itself from proposals to tax agricultural income, on Wednesday, with Finance Minister Arun Jaitley dismissing any such plans.
 New board for indirect taxes to become operational from June 1
By CA Mayank Jain
The Central Board of Indirect Taxes and Customs (CBIC), which will replace the current CBEC, will become operational from June 1 in preparation for the Goods and Services Tax (GST) regime, an official source said.
  9 changes that came into effect from April 1
By CA S K Verma
With the new financial year came the new rules to file income tax returns!
 First time filing income tax? Here's all you need to know about Form 16 and Form 26AS
By CA Nilesh Sahu
With the end of the financial year, the process to file tax return has been started.
 New Opening Financial Controller Chartered Accountant (Manufacturing Plant) A Leading Company
By CA Ojas Aggarwal
Salary:INR 15,00,000 - 20,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,
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Continuing Prof. Edu.   RSS Feeds
 Income Computation and Disclosure Standards (ICDS) (DIRECT TAXES)
By CA Devender Singh
Place: PATIALA BRANCH OF NIRC Date: 04-05-2017 – To: 04-05-2017 CPE.Hrs.: 6
 Transational Provisions in GST & Tax Invoice, Credit Note,Debit Note.Reverse Charge in GST, (INDIRECT TAXES)
By CA S K Verma
Place: Central Delhi CPE Study Circle of NIRC Date: 01-05-2017 – To: 01-05-2017 CPE.Hrs.: 5
 GST Migration And Transitional Provision (Indirect Taxes)
By CA Mayank Jain
Place: North Campus Study Circle of NIRC Date: 27-04-2017 – To: 27-04-2017 CPE.Hrs.: 5
  Income Computation and Disclosure Standards (ICDS) (DIRECT TAXES)
By CA Nilesh Sahu
Place: PATIALA BRANCH OF NIRC Date: 04-05-2017 – To: 04-05-2017 CPe.Hrs.: 6
  Recent Amendments in Audit and Income tax and Transitional Provision under under GST Law . (INDIRECT TAXES)
By CA Devender Singh
Place: West Delhi Study Circle of NIRC Date: 26-04-2017 – To: 26-04-2017 CPE.Hrs.: 4
 Goods & Service Tax and Cash Payment u/s Income Tax Act (OTHERS)
By CA Andrew F Thomas
Place: Yamuna Nagar Branch Of Nirc Date: 28-04-2017 – To: 28-04-2017 CPE.Hrs.: 3
 Recent Amendments in Audit and Income tax and Transitional Provision under under GST Law . (INDIRECT TAXES)
By CA Nilesh Sahu
Place: West Delhi Study Circle of NIRC Date: 26-04-2017 – To: 26-04-2017 CPE.Hrs.: 4
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VAT (Value Added Tax)   RSS Feeds
 Haryana govt exempts solar equipment from VAT
By CA Ojas Aggarwal
The Haryana government today exempted solar equipment and parts used in installation of solar power projects from value added tax (VAT).
 AP to push for same benefits under GST for VAT exempted goods
By CA Rashmi Sharma
Amaravati, Apr 11 (PTI) Andhra Pradesh government will urge the GST Council that goods exempted from VAT be extended the same benefit under the new Goods and Services tax regime when it comes into force from July 1.
 Andhra Pradesh to push for same benefits under GST for VAT exempted goods
By CA Atul Gupta
Andhra Pradesh government will urge the GST Council that goods exempted from VAT be extended the same benefit under the new Goods and Services tax regime when it comes into force from July 1.
 Petrol prices set to rise in Goa with increase in VAT
By CA Atul Gupta
The value-added tax collected by Delhi government in February indicates that the adverse impact of demonetisation on tax revenue visible in December and January may have diminished.
 Payment systems to remain open on all days from March 25, 2017 to April 1, 2017
By CA Mayank Jain
A reference is invited to the circulars DPSS.CO.CHD.No./2656/03.01.03/2016-17 dated March 23, 2017 on “Special Clearing operations on March 30 and 31, 2017”
 Delhi cuts VAT on ATF to 1% for regional flights; other states to announce the same soon a
By CA Manu T George
The Delhi government today announced reduction in Value Added Tax (VAT) on jet fuel for regional flights flying out of Delhi airport.
 Shops cannot charge VAT on discounted items: Consumer forum
By CA Mayank Jain
To check fleecing of customers by charging value added tax (VAT) on discounted items, the district consumer disputes forum has ruled that “Charging of VAT on the discounted price by the shops is unfair trade practice and a deficiency in service.”
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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
 Simplified one page Income Tax Return Form: Changes to keep in mind before filing tax return for AY2017-18
By CA Nilesh Sahu
The financial year 2016-17 has ended and it is time to file your income tax return. However, filing your ITR is going to be less taxing now as in a move towards simplifying the cumbersome income tax forms, the government has launched a new and simplified one page ITR form-1 (Sahaj) for the financial year 2016-17.
  No proposal to replace Income Tax with Banking Cash Transaction Tax
By CA Atul Gupta
There is no proposal "at present" to replace Income Tax with Banking Transaction Tax or BTT, the government said today.
 GST coming July 1 despite calls for delay: Revenue Secretary Hasmukh Adhia
By CA Manu T George
India will launch goods and services tax (GST) as planned on July 1 to boost economic growth and state revenues, a finance ministry official said on Wednesday, despite calls from some businesses for a delay.
 Centre introduces provision of taxation on NPS in Income Tax Act
By CA S K Verma
The provision that the withdrawal from the National Pension Scheme is taxed to the extent of 60 per cent has been introduced into the Income Tax Act, 1961 (‘Act’) vide Finance Act, 2016 by inserting clause (12A) in Section 10 of the Act.
 Income Tax Department Clarifies On Cash Withdrawal From Banks, Post Offices
By CA Rashmi Sharma
Ban on cash transactions in excess of Rs. 2 lakh will not be applicable to withdrawals from banks and Post Office savings accounts, the Income Tax Department said on Wednesday.
 The Goods And Services Tax (Compensation To States) Bill, 2017
By CA Ojas Aggarwal
Section 18 of the Constitution (One Hundred and First Amendment) Act, 2016 provides that parliament shall, by law, on the recommendations of the Goods and Services Tax Council, provide for compensation to the States for loss of revenue arising on account of implementation of the goods and services tax for a period of five years.
  Goods and Service Tax (GST) and Real Estate Sector
By CA Atul Gupta
As we all know that the whole nation has been dreaming for the biggest indirect tax reform i.e. implementation of the Goods and Service Tax (GST) for a decade, it is going to become a reality soon.
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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
 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,
 GST to be made applicable from May, 2018 examination onwards for Intermediate (IPC) Course and Final Course
By CA S K Verma
The Council of ICAI has decided that Goods and Services Tax (GST) will be examined in both Part II: Indirect Taxes of Paper 4: Taxation of Intermediate (IPC)
 Applicability of GST in Nov., 2017 Examinations
By CA Rashmi Sharma
Students appearing in November, 2017 Intermediate (IPC) Examination may note that Goods and Services Tax (GST) will not be examined in Part II: Indirect Taxes of Paper 4: Taxation.
 Applicability of Income Computation and Disclosure Standards (ICDSs) for May 2017 Examination
By CA Manu T George
The Central Government had, vide Notification No.S.O.892(E) dated 31.3.2015, in exercise of the powers conferred by section 145
 Scholarships for CA Students
By CA Mayank Jain
Board of Studies, ICAI invites applications for the award of Scholarships to the selected candidates to be paid from April 1, 2017
 Campus Placements for Articleship and Industrial Training
By CA Rashmi Sharma
It was felt that many students could not approach firms / Industries on account of inadequate information, resources and also due to lack of reference/connection.
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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
 Group to look into the intricacies involvced in areas pertaining to the Disciplinary Mechanism
By CA Atul Gupta
In partial modification of our letter number No.M-626/16-1/2017 dated 24th April, 2017, the President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017
 Exposure Draft of Amendments to Ind AS 101, First-time Adoption of Indian Accounting Standards
By CA Mayank Jain
Following is the Exposure Draft of amendments to paragraph D7AA of Ind AS 101, First-time Adoption of Indian Accounting Standards, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments.
  Requirements for passing Information Systems Audit (Assessment Test)
By CA S K Verma
It is hereby informed that in exercise of the authority vested with it under Regulation 204 of the Chartered Accountants Regulations, 1988,
  Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
By CA Ojas Aggarwal
Following is the Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments.
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
By CA Andrew F Thomas
Following is the Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers, issued
 Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers
By CA Andrew F Thomas
Following is the Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers, issued
 Reconstitution of Group to study the existing norms for the appointments/re-appointments of statutory / internal auditors
By CA Atul Gupta
The President has requested the Group to complete the task at the earliest so that the report of said Group can be placed at the next meeting of the Council.
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From the Courts   RSS Feeds
 Ultratech Cement Ltd vs. ACIT (Bombay High Court)
By CA Nilesh Sahu
An additional ground (relating to claim u/s 80-IA) cannot be permitted to be raised if the necessary evidence that the assessee is entitled to the claim is not on record.
 Vikram Singh vs. UOI (Delhi High Court)
By CA Devender Singh
S. 279: As there is no time limit prescribed for filing an application for compounding of an offense, the CBDT is not entitled to reject an application on the ground of 'inordinate delay'.
  CIT vs. Annamalaiar Mills (Supreme Court)
By CA S K Verma
Capital gains: An amount received from a wholly-owned subsidiary in consideration of transfer of shares of the WOS to a group of shareholders is not taxable as capital gains. The Department cannot subject a transaction under the Gift-tax Act and also levy tax under the Income-tax Act.
 CIT vs. Equinox Solution Pvt. Ltd (Supreme Court)
By CA Ojas Aggarwal
S. 45/ 50(2): If an undertaking is sold as a running business with all assets and liabilities for a slump price, no part of the consideration can be attributed to depreciable assets
 Centaur Helicopter Services P. Ltd. Vs. Commissioner Of Income Tax
By CA S K Verma
This batch of appeals under Section 260-A of the Income Tax Act ("the Act" hereafter) and writ petitions arise from scrutiny assessments made pursuant to a search and seizure operations conducted in 1995.
 Ashok Chawla Vs. Commissioner Of Income Tax
By CA Ojas Aggarwal
This batch of appeals under Section 260-A of the Income Tax Act ("the Act" hereafter)
 NATIONAL AGRICULTURAL COOPERATIVE MARKETING FEDERATION OF INDIA LTD. Vs. COMMISSIONER OF INCOME TAX, DELHI-XI & ANR.
By CA Atul Gupta
This appeal by the National Agricultural Cooperative Marketing Federation of India Limited
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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
 Exim Bank's Government of India supported Line of Credit of USD 52.30 million to the Government of the Republic of Mauritius
By CA Rashmi Sharma
Export-Import Bank of India (Exim Bank) has entered into an agreement dated November 17, 2016 with the Government of the Republic of Mauritius for making available to the latter,
 RBI-Formation of a new district in the State of Haryana - Assignment of Lead Bank Responsibility
By CA Devender Singh
The Haryana Government vide Gazette Notification dated December 1, 2016 had notified the creation of a new district to be called ‘Charki Dadri’ in the State of Haryana.
 RBI proposes fresh Regulations under Foreign Exchange Management Act, 1999 for Cross Border Mergers: Invites comments from stakeholders
By CA Manu T George
The Reserve Bank today has placed on its website the draft guidelines proposed to be issued on cross border merger transactions pursuant to the Rules notified
 Decrease in Foreign Investment limit/ceiling under the PIS in Indian Companies from 49% to 47% - M/s Ujjivan Financial Services Limited
By CA Ojas Aggarwal
The Reserve Bank of India has today notified that M/s Ujjivan Financial Services Limited has passed resolutions at the Board of Directors’ level agreeing for decreasing the limit for the purchase of its equity shares
 RBI launches the May 2017 Round of Inflation Expectations Survey of Households
By CA Atul Gupta
The Reserve Bank of India has been regularly conducting Inflation Expectations Survey of Households. The May 2017 round of the survey is now being launched.
  RBI announces auction of a 15-days Government of India Cash Management Bill
By CA Manu T George
The auction will be conducted using "Multiple Price Auction" method. The competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) between 10.30 A.M.
 Auction of Government of India Dated Securities April 24, 2017
By CA Rashmi Sharma
The auction for securities will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions.
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Budget Extravaganza   RSS Feeds
 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.
 H.P. budget devoid of any financial prudence
By CA Manu T George
Initiating a discussion on the State budget for the year 2017-18, the leader of the opposition in Vidhan Sabha, Prem Kumar Dhumal, on Tuesday blamed the Virbhadra government for not identifying even a single factor for resource mobilisation and depending exclusively on borrowings and central allocations.
 GST, demonetisation todecide budget priorities
By CA Nilesh Sahu
Demonetisation, Goods and Service Tax (GST), and Kerala Infrastructure Investment Fund Board (KIIFB) are likely to be the three key markers of his speech as Finance Minister
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Sales Tax   RSS Feeds
 Six arrested for posing as Sales Tax officers, extorting money
By CA Nilesh Sahu
Ulhasnagar police in Thane district have arrested six persons who allegedly posed as Sales Tax officers and extorted lakhs of rupees from shop owners.
 Insurance Agency Mergers and Acquisitions in Q1 "Explode," OPTIS Partners' Report Reveals
By CA Devender Singh
Insurance agency mergers and acquisitions exploded during the first quarter of the year, with 178 reported transactions in the first three months of 2017, according to OPTIS Partners' M&A database. That far outstripped the 115 deals reported in the first quarter of 2016.
 Sales tax sleuths raid spare parts shops in Meerut's infamous Sotiganj market
By CA S K Verma
Several officers of sales tax department, escorted by a large contingent of police, on Thursday carried out an inspection of shops in Sotiganj market, which is infamously known as the "last destination" of vehicles stolen from Delhi and NCR region.
 Income Tax: How offshore income could be taxed twice
By CA Devender Singh
In this era of globalisation, an individual’s earnings is often from across the border. He can be a resident of one country, but earning income from other countries in a particular financial year.
 India finalises bills to launch new sales tax in July
By CA Mayank Jain
India moved a step closer on Saturday towards launching a new national sales tax from July after a panel of federal and state finance officials finalised two key bills to be put before parliament.
 NMC to implement new tax system from Apr 1a
By CA Manu T George
Two years after it was planned, the Nagpur Municipal Corporation (NMC) is set to enforce the new tax system from April 1.
 13 per cent sales tax boost post demonetisationa
By CA S K Verma
The finance department, which was earlier apprehensive of meeting its target of Rs 90,985 crore, is now confident of reaching its goal.
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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 Visakhapatnam Bench Consolidated list of orders ready for pronouncement on 06/04/2017
By CA Atul Gupta
Income Tax Appellate Tribunal Visakhapatnam Bench Consolidated list of orders ready for pronouncement on 06/04/2017
 Income Tax Appellate Tribunal Mumbai Consolidated list of orders ready for pronouncement on 26/04/2017
By CA Mayank Jain
Income Tax Appellate Tribunal Mumbai Consolidated list of orders ready for pronouncement on 26/04/2017
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Constitution of Kolkata Benches for one week from 17.04.2017 To 20.04.2017(21st April 2017- M.A.Day)
By CA Rashmi Sharma
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Constitution of Kolkata Benches for one week from 17.04.2017 To 20.04.2017(21st April 2017- M.A.Day)
 Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Constitution For The Period From 17.04.2017 To 27.04.2017.
By CA Atul Gupta
Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Constitution For The Period From 17.04.2017 To 27.04.2017.
 Income Tax Appellate Tribunal Pune Benches Pune Causelist for Bench 'A' For The Week Ending 21/04/2017
By CA Mayank Jain
Income Tax Appellate Tribunal Pune Benches Pune Causelist for Bench 'A' For The Week Ending 21/04/2017
 Income Tax Appellate Tribunal Pune Benches Pune Causelist for Bench 'A' For The Week Ending 21/04/2017
By CA Manu T George
Income Tax Appellate Tribunal Pune Benches Pune Causelist for Bench 'A' For The Week Ending 21/04/2017
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before Shri V Durga Rao, Hon'ble Judicial Member & Shri G Manjunatha, Hon'ble Accountant Member During The Period From 17 April, 2017 To 5 May, 2017.
By CA Mayank Jain
Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before Shri V Durga Rao, Hon'ble Judicial Member & Shri G Manjunatha, Hon'ble Accountant Member During The Period From 17 April, 2017 To 5 May, 2017.
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Placements & Empanelment   RSS Feeds
 New Opening General Manager - Finance & Accounts
By CA Ojas Aggarwal
Salary:INR 35,00,000 - 45,00,000 P.A. As per The Company Policy, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit PG:CA,
 New Opening Assistant Manager- Finance & Accounts
By CA Manu T George
Salary:INR 2,50,000 - 5,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:Any Postgraduate, CA
 New Opening Assistant Manager Finance
By CA Rashmi Sharma
Salary:INR 6,00,000 - 10,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 New Opening Chartered Accountant / Accounts Manager
By CA Atul Gupta
Salary:INR 2,25,000 - 3,75,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 10 Opening for Accountant and Chartered Accountant
By CA Manu T George
Salary:INR 1,25,000 - 6,25,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:Any Postgraduate - Any Specialization, M.Com - Commerce,
 Immediate Opening for Big Four-statutory Audit -must be Qualified CA
By CA Atul Gupta
Salary:INR 6,00,000 - 13,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 New Opening Accounts Executive, Chartered Accountant (CA)
By CA Atul Gupta
Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
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Direct Tax   RSS Feeds
  No relief to those who defaulted on 1st IDS installment: CBDT
By CA S K Verma
The Central Board of Direct Taxes (CBDT) has refused to grant any relief to those black money declarants who failed to submit their first installment of tax and penalty under the IDS owing to personal emergencies or liquidity crunch.
 CBDT clears the air on rental incomes from industrial parks, SEZs
By CA Andrew F Thomas
The Central Board of Direct Taxes (CBDT) has made it clear that income from letting out buildings /developed space along with other amenities in an industrial park/special economic zones (SEZs) would only be treated as “business income” and not as “income from house property”.
 CBDT signifies achievements towards eliminating domestic black money
By CA Devender Singh
The Central Board of Direct Taxes on Friday signified the concerted and coordinated actions of Law Enforcement Agencies (LEAs) under the Department of Revenue who have achieved phenomenal success in fighting the menace of black money during the last three years.
 Seafarers get tax exemption from Ministry of Finance
By CA Manu T George
Union ministry of finance has granted income tax exemption to Indian seafarers sailing aboard foreign ships outside India for more than 182 days a year.
 Financial institutions need to get accounts self-certified for FATCA by April 30
By CA Mayank Jain
Financial institutions need to obtain self-certification from each account holder by April 30 to comply with the Foreign Account Tax Compliance Act (FATCA) and avoid blocking of accounts, the Central Board of Direct Taxes said on Tuesday.
 Direct tax incentives to promote start-ups
By CA S K Verma
Various tax exemptions have been given to start-ups in the recent past. The following direct tax incentives were provided in the Income-Tax Act,1961 to promote start-ups through Finance Act, 2016.
 Employer didn't deposit the TDS it deducted on your salary. How to claim it?
By CA Andrew F Thomas
I was an employee of Kingfisher Airlines. The company didn't deposit the TDS it deducted on my salary.
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Service Tax   RSS Feeds
 GST loss to be reduced by slice of service tax
By CA Ojas Aggarwal
Even as the Jharkhand assembly on Thursday ratified the state Goods and Services Tax Bill, 2017, experts said the state will suffer significant losses under the new tax regime expected to be rolled out on July 1.
 Government encouraging self-registration for GST
By CA Atul Gupta
The government is encouraging business for online self-registration for GST instead of going through external agencies even after the deadline expires on April 30.
 Spl assembly session on GST Bill on May 9
By CA Manu T George
The state government has convened a one-day special assembly session on May 9 to pass the State Goods and Service Tax (GST) Bill.
  Getting the trade to align with GST is a challenge
By CA Ojas Aggarwal
As with most consumer goods companies, Emami, a Kolkata-based FMCG major, is gearing up for the goods & services tax (GST),
 Getting the trade to align with GST is a challenge
By CA Atul Gupta
As with most consumer goods companies, Emami, a Kolkata-based FMCG major, is gearing up for the goods & services tax (GST),
 With GST launch, race against time to avoid sales tax upheaval across India
By CA Rashmi Sharma
As India gets set to roll out the landmark goods and services tax (GST) from 1 July, it’s scrambling to finalize technology to process as many as 3.5 billion invoices each month
 GST to rate taxpayers, businesses on payment record, make ratings public
By CA Mayank Jain
Trade and industry will be assigned a 'compliance rating' based on their credibility with regard to timely deposit of taxes to the exchequer and filing of returns under the goods and services tax structure.
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Transfer Pricing   RSS Feeds
 Relief for Indian MNCs likely as government mulls diluting POEM rules
By CA Manu T George
Indian companies with overseas subsidiaries are likely to get some leeway around transfer pricing, withholding tax
 EY Azerbaijan holds seminar on transfer pricinga
By CA Andrew F Thomas
EY Azerbaijan held the seminar dedicated to determination of transfer prices and regulations requirements for their application in Azerbaijan Apr. 11, 2017.
 India among top 3 investment destinations over medium term
By CA Rashmi Sharma
Globalisation means a broader mix of countries is available to a global CEO for growth opportunities.
 India notifies amended tax treaty with Singapore
By CA S K Verma
The government today notified the amended India-Singapore tax treaty under which capital gains tax will be levied at source of investments with effect from April 1.
 Rollback provision available in respect of bilateral advance pricing agreement under the India-Korea DTAA
By CA Ojas Aggarwal
As a major boost to multinational companies located in Korea and doing business in India, the Central Board of Direct Taxes (CBDT)
 Advance pricing agreement with rollback provision from April 1 under India-Korea DTAA
By CA Manu T George
The revised tax treaty with Korea provides for taxpayers to file for bilateral advance pricing agreement, along with rollback provision, for settling transfer pricing disputes from April 2017, the CBDT said today.
  India among the top three nations where transfer pricing policies faced official examination
By CA Rashmi Sharma
Companies will need to become comfortable with sharing more tax data with authorities far and wide.
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Customs and Excise   RSS Feeds
 Ensure transparency in excise department working: Bizmen to government
By CA Mayank Jain
The city industrialists want the new government in the state to ensure transparency in the working of the excise and taxation department.
 It is time to review the customs duty on essential food imports
By CA Manu T George
With Rabi crop prospects looking bright and harvest kicking off, it is time for the Centre to review the tariff or customs duty on commodities such as wheat, pulses, edible oil and sugar.
 Migration to GST of existing Central Excise / Service Tax Assessees
By CA Rashmi Sharma
Please refer to my DO letter IV(33) 16/2016-Systems dt. 27th Jan, 2017 on the above subject regarding setting up GST Migration Seva Kendras for smooth transition of existing taxpayers to GST.
 Rate of exchange of conversion of the foreign currency with effect from 3rd February, 2017
By CA S K Verma
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962),
 Budgetary Changes In Customs
By CA Mayank Jain
Changes are more in Customs Act by Finance Bill, 2017 than in Central Excise and Service Tax. The changes meant for customs are discussed in this article.
 Customs and excise officials upset with GST administration deal with states
By CA Devender Singh
Upset at the centre ceding most of taxpayers under the goods and services (GST) to states, the association of Indian Revenue Service Officers from customs and central excise on Monday passed a resolution at its general body that in its present form the proposed tax would not be good for the country.
 Higher petro excise props up govt tax kitty
By CA S K Verma
Finance minister Arun Jaitley has said that indirect tax receipts are up 25% in the April-December period.
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Mergers and Acquisitions   RSS Feeds
 Deals of the day-Mergers and acquisitions Apr 27, 2017,
By CA Rashmi Sharma
The following bids, mergers, acquisitions and disposals were reported by 1300 GMT on Thursday:
 GAVS Tech eyes to double revenue from mergers & acquisitions
By CA Andrew F Thomas
IT services and solutions provider GAVS Technologies is looking to double its global revenues through a series of mergers and acquisitions this year, a top official said today
 New Indirect Tax Regime: Homebuyers and renters keeping fingers crossed on GST impact
By CA Nilesh Sahu
Many salaried taxpayers change their jobs in the hope of better future prospects. Generally the main motive behind any change of job is a higher pay package.
 Hitachi India appoints Bharat Kaushal as managing director
By CA Devender Singh
Hitachi India has announced the appointment of Bharat Kaushal as its managing director, said a company statement issued today.
 RBI issues new draft rules for M&As
By CA S K Verma
RBI’s new M&A rules seek reporting of all deals which are not on the automatic route to be more stringent and time-bound, and provide for mandatory permission
 The 12 digital health mergers and acquisitions of Q1 2017
By CA S K Verma
Only one quarter into 2017, there have already been an impressive number of mergers and acquisitions in the digital health space.
  Deals of the day-Mergers and acquisitions Apr 19, 2017
By CA Ojas Aggarwal
April 19 (Reuters) - The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Wednesday:
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Indirect Tax   RSS Feeds
 CBEC rechristened Central Board of Indirect Taxes and Customs
By CA Mayank Jain
Ahead of the implementation of the Goods and Services Tax (GST), Finance Minister Arun Jaitley has given his nod for the reorganisation of the field formations of the Central Board of Excise and Customs (CBEC).
 Income tax department to challenge ITAT relief to Cairn Energy in HC
By CA Nilesh Sahu
The Income Tax Department is likely to challenge in high court a tax tribunal order giving relief to British oil firm Cairn Energy plc from payment of interest on a Rs 10,247 crore tax demand it had raised retrospectively.
 5 crucial ways how doing business will be different under GST
By CA Manu T George
The goods and services tax (GST) regime is less than 75 days away — assuming July 1 as the roll-out date. Here is a look at how doing business will be different in the GST-era.
 What is the lowdown on the Goods and Services Tax
By CA Mayank Jain
It’s the new system proposed to be rolled out from July 1 this year for taxing all goods and services that you consume. The Goods and Services Tax or GST will replace the myriad local,
 Ineligible Input Tax Credit Under Gst Regime
By CA Andrew F Thomas
Section 17(5) of the Central Goods and Services Act, 2017 provides that input tax credit in respect of the following shall not be available
 What is GST, how is it different from now: Decoding the indirect tax regime
By CA Ojas Aggarwal
It is a proposed new indirect tax regime, where one commodity will have the same rate, pan-India. There could be exceptions based on local importance, in which case those would be exempt.
 Indirect tax collection can fall short of FY’17 target
By CA Ojas Aggarwal
The indirect tax collection for Pune zone is likely to fall short of the overall target for the fiscal ended March 31,2017, as collections were affected in the aftermath of demonetisation.
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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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