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News Headlines   RSS Feeds
 Who can use ITR1 form to file tax return?
By CA Mayank Jain
Dividend received from the companies in excess of Rs 10 lakh, is chargeable to tax at 10% under Section 115BBDA. This provision is applicable to dividends distributed by the companies and is not applicable to the income distribution by the mutual fund.
 Who can use ITR1 form to file tax return?
By CA Manu T George
Dividend received from the companies in excess of Rs 10 lakh, is chargeable to tax at 10% under Section 115BBDA. This provision is applicable to dividends distributed by the companies and is not applicable to the income distribution by the mutual fund.
 Central Goods & Services Tax (Seventh Amendment) Rules 2018
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:-
 Filing your income tax returns? You need to know which form to submit
By CA Andrew F Thomas
Here is how you should choose the right ITR form to file your income tax returns. Filing your income tax return isn't as cumbersome as it once was. You have four different forms to choose from for the purpose, depending on your source of income and whether or not you are a resident of the country.
 Income tax return filing for FY 2017-18: Here are all the links you need
By CA Andrew F Thomas
The deadline to file your income tax return (ITR) for FY 2017-18 is July, 31, 2018 (unless the government decides to extend it). By filing your return on time, along with certain benefits such as carry forward of losses, you will not have to pay a late filing penalty.
 Filing your income tax returns? Here are 4 challenges that you may face
By CA Atul Gupta
The process can be quite cumbersome in the absence of efficient financial planning, and any negligence on the tax payer's part can lead to undue payment of tax
 7th Pay Commission and Income Tax efiling: Here is how government employees need to file ITR for AY2018-19
By CA Mayank Jain
Have you received arrears of salary as per the 7th Pay Commission recommendations? Here's how to report those in your income tax return.
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Continuing Prof. Edu.   RSS Feeds
 Group discussion of Finalisation /Reconciliation of Books of Accounts with specific reference to GST Audit
By CA S K Verma
Place: Gurgaon Branch Of NIRC Date: 21-07-2018 – To: 21-07-2018 CPE.Hrs.: 2
  Income Tax and Company Law
By CA Ojas Aggarwal
Place: East Delhi CPE Study Circle of NIRC Date: 21-07-2018 – To: 21-07-2018 CPE.Hrs.: 4
 Income Tax and Company Law
By CA Devender Singh
Place: East Delhi CPE Study Circle of NIRC Date: 21-07-2018 – To: 21-07-2018 CPE.Hrs.: 4
 GST Reconciliation & GST Audit
By CA S K Verma
Place: Patiala Branch Of NIRC Date: 16-07-2018 – To: 16-07-2018 CPE.Hes.: 6
 Programme on Stinging Implications of Benami Law and its interplay with Income Tax Law and PMLA
By CA Ojas Aggarwal
Place: Ludhiana Branch Of NIRC Date: 14-07-2018 – To: 14-07-2018 CPE.Hrs.: 3
 Interactive Seminar on Audit (SA’s) & Code of Ethics/CARO/Companies Amendment Act
By CA Manu T George
Place: Northern India Regional Council Date: 07-07-2018 – To: 07-07-2018 CPE.Hrs.: 6
 ITR & E-Filing Issues of Income Tax (Practical Cases)
By CA Rashmi Sharma
Place: Natural Gas CPE Study Circle for Members in Industry of ICAI Date: 06-07-2018 – To: 06-07-2018 CPE.Hrs.: 2
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GST - Goods and Services Tax   RSS Feeds
 30 LPA-Opening Chief Financial Officer
By CA Ojas Aggarwal
Salary: INR 20,00,000 - 30,00,000 P.A. Best in the industry,PG:CA, Any Postgraduate - Any Specialization,
 30 LPA-Opening Director-risk Assurance
By CA Atul Gupta
Salary: INR 27,50,000 - 30,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 GST Council could cut tax rates on these items in next meeting
By CA Mayank Jain
GST Council meeting: The all-powerful Goods and Services Tax (GST) Council, which is scheduled to meet on July 21, could announce another round of tax cuts on many items.
 Frequent changes in GST may muddle the tax system
By CA Andrew F Thomas
While tweakings are mandatory to bring things to perfection, it’s wise to recall that somewhere down the line, building the Tower of Babel had become a ‘perpetual incremental project’.
 Financial services firms fear GST may hit returns
By CA Manu T George
The Goods and Services Tax (GST) implemented in July 2017 has not caused much of an upheaval in the financial services sector. One reason is the single tax slab of 18% across all services that came under the ambit of GST.
 GoM expected to finalise views on reverse charge under GST, to meet on July 8
By CA Devender Singh
Another GoM on incentivising digital payments will be meeting for the second time and will look at offering discount to consumers making online payment
 Sales recover but retailers seek ease of tax filing One year of GST
By CA Rashmi Sharma
A year after the much-talked-about goods and services tax (GST) was introduced, the retail sector may have recovered nearly completely, but experts say more needs to be done to make compliance easier.
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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
 Common mistakes to avoid while filing your Income Tax Returns
By CA Atul Gupta
As tax filing deadline inches closer, you may be rushing to collate all your documents to file your returns. But sometimes despite being very careful, we can commit mistakes that can land us in trouble with the tax department.
 Income Tax Return filing season is here – Check top tricks to save money
By CA S K Verma
All of us are well aware of the fact that evading or avoiding taxes is a crime, and it can invite serious consequences.
 What is Income Tax Clearance Certificate? For whom is it a must?
By CA Atul Gupta
There are a few transactions where obtaining an Income-Tax Clearance Certificate is currently required under the Income-Tax Act.
 Don’t forget to mention these small things while filing income tax returns
By CA Manu T George
Here are a few seemingly less important things that all salaried individuals should take in account while filing their income.
 Wondering about your eligibility to file Income Tax Return?Read on
By CA Ojas Aggarwal
ITR filing is mandatory if your gross total income exceeds the basic exemption limit. Having a PAN does not necessitate furnishing your return. Find out when do you need to file ITR.
 Income Tax Return filing: How to link Aadhaar number with PAN card?
By CA Manu T George
Income Tax return filing season is on. You are required to link your Aadhaar number with the PAN card. Users have the flexibility to do it both online and offline.
 India notifies rules for income tax computation for foreign firms
By CA Mayank Jain
The government has notified rules for computation of income tax for foreign companies if they have place of effective management in the country. According to tax experts, it brings clarity on various aspects of the new place of effective management (POEM) regime.
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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
 Postponement of Final Level Live Virtual Classes
By CA Devender Singh
Students May kindly note that since IPC/Intermediate examination results for May, 2018 attempt is likely to be announced by the end of July, 2018
 Announcement Pattern Of Assessment From May 2019 Examination
By CA Rashmi Sharma
Students appearing in the Intermediate/IIPCE and Final Examinations under the Old and New Scheme of Education and Training may please note that beginning from May, 2019
 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.
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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
 7 Days’ Residential Programme on Professional Skills Development from 19th August to 25th August, 2018 at Centre of Excellence, Hyderabad.
By CA Rashmi Sharma
The Professional Development Committee jointly with Young Members Skill & Innovation Development Committee is pleased to announce ‘7 days’ Residential Programme on Professional Skills Development’ for Practicing Chartered Accountants.
 Committee for Capacity Building Members in Practice (CCBMP), ICAI: arrangement of the ‘Tax Cloud’ software- A web based ITR & TDS Return Preparation
By CA Andrew F Thomas
The Committee for Capacity Building of Members in Practice (CCBMP) of the Institute of Chartered Accountants of India (ICAI) has arranged the ‘Tax Cloud’ software on Web based ITR & TDS Return Preparation for Practised Chartered Accountants & CA Firms of ICAI.
 Group to examine the Consultative paper on proposed SEBI (Fiduciaries in the Securities Market) (Amendment) Regulations and formulate its comments on the areas affecting the profession
By CA Nilesh Sahu
Pursuant to the authority given to the President by the Council at its 373rd meeting held on 12th February 2018, the President has constituted a group comprising of the following members:
 CPE Events 16th July - 21th July 2018
By CA Andrew F Thomas
CPE Events 16th July - 21th July 2018
 Result of the Information Systems Audit [ISA] Assessment Test held on 23rd June 2018 is likely to be declared on 20th July, 2018
By CA Mayank Jain
The result of the Chartered Accountants Final Examination, Foundation Examination and Common Proficiency Test (CPT) held in May/June, 2018 are likely to be declared on Friday, the 20th July 2018
  Exposure Draft of Accounting Standard (AS) 19, Employee Benefits (Comments to be received by August 10, 2018)
By CA Manu T George
The Indian Accounting Standards (Ind AS), as notified by the Ministry of Corporate Affairs in February, 2015, have been applicable to the specified class of companies.
 Announcement - Unique Document Identification Number (UDIN)
By CA Rashmi Sharma
It has been observed that at many instances financial statements and documents are being certified/attested by third persons in lieu of our CA members. These statements misleads various authorities/other stake holders who rely upon them.
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From the Courts   RSS Feeds
 Commissioner Of Income Tax (Exemptions) vs Bharati Vidyapeeth Chairman
By CA Rashmi Sharma
The submission of the learned Additional Solicitor General that the Order of the ITAT restoring the registration has been challenged and the matter is pending in the High Court. In case, the said appeal is decided in favour of the Department and the registration is cancelled, it would be open to the petitioner to take further steps in this matter in accordance with law.
 Chief Revenue Controlling Officer Cum Inspector General Of Registration, & Ors. vs P. Babu
By CA Andrew F Thomas
Issue notice both on the special leave petitions as also on the limitation.
 Commissioner Of Income Tax (Tds) vs M/s Tata Teleservices Limited Managing Director
By CA Nilesh Sahu
Arising out of impugned final judgment and order dated 11-07-2017 in DBITA No. 132/2015 passed by the High Court Of Judicature For Rajasthan At Jaipur
 Commissioner Of Income Tax (Tds) vs M/s Jai Prakash Associates Ltd.
By CA Devender Singh
Arising out of impugned final judgment and order dated 22-08-2017 in ITA No. 114/2015 passed by the High Court Of Judicature At Allahabad, Lucknow Bench
 In The State Of Tamil Nadu vs Union Of India & Ors.
By CA Devender Singh
We have heard the learned Amicus, the learned ASG and learned senior counsel appearing for the State of Kerala. We have also gone through the status report presented by the learned ASG in the Court today in compliance of the judgment dated 03.04.2018.
 Lakhan Lal & Anr. vs General Manager (R And R) Narmada Hydrorelectric Development Corporation & Ors.
By CA S K Verma
There is a dispute between the parties as to whether full amount of compensation and the amount due on account of Special Rehabilitation Grant (SRG) was paid and it is only the SRG amount which has been deducted from the payment made.
 Commissioner, Customs And Service Tax (Cgst) vs M/s Shri Nakoda Ispat Ltd. Through Its Authorized Person
By CA Nilesh Sahu
Heard the learned counsel for the petitioner and perused the relevant material.
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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
 Regarding Recovery – VAT Delhi – Circular No.6/2018
 RBI-Auction of Government of India Dated Securities July 16, 2018
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. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the notifications (copies enclosed)
 Auction for Sale (Issue/Re-issue) of Government Stock (GS) July 16, 2018
By CA Mayank Jain
Subject to the limit of Rs 12000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 Cr each against any one or more of the above securities.
 RBI-Incorporation of Name of the Purchaser on the Face of the Demand Draft
By CA Nilesh Sahu
In order to address the concerns arising out of the anonymity provided by payments through demand drafts and its possible misuse for money laundering, it has been decided that the name of the purchaser be incorporated on the face of the demand draft,
 RBI likely to extend deadline for filing of foreign investment master form
By CA Rashmi Sharma
The deadline for the filing of the form was set at July 12, but the website that was designed for the purpose has been malfunctioning for the last couple of days.
 Priority Sector Lending - Targets and Classification: Lending to non-corporate farmers – System wide average of last three years
By CA Ojas Aggarwal
Priority Sector Lending - Targets and Classification: Lending to non-corporate farmers – System wide average of last three years
 Exim Bank's Government of India supported Line of Credit of USD 17.50 million to the Government of the Cooperative Republic of Guyana
By CA Atul Gupta
Export-Import Bank of India (Exim Bank) has entered into an agreement dated July 19, 2017 with the Government of the Cooperative Republic of Guyana for making available to the latter
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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 Tribunalvice President's Secretariat : Hyderabad Constitution Of Hyderabad Benches 16/07/2018 To 23/7/2018
By CA S K Verma
Income Tax Appellate Tribunalvice President's Secretariat : Hyderabad Constitution Of Hyderabad Benches 16/07/2018 To 23/7/2018
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated List Of Orders Ready For Pronouncement On 18/07/2018.
By CA Ojas Aggarwal
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated List Of Orders Ready For Pronouncement On 18/07/2018.
 Income Tax Appellate Tribunal : Bangalore Banches : Bangalore Constitution for the week from 16/7/2018 To 20/7/2018
By CA Nilesh Sahu
Income Tax Appellate Tribunal : Bangalore Banches : Bangalore Constitution for the week from 16/7/2018 To 20/7/2018
 Income Tax Appellate Tribunal. Lucknow Benches. Lucknow Constitution For The Period From 23107/2018 To 27107/2018, 30.07.2018 To 31.07 .201 8 And 01 .08.2018 To 03.08.201 8.
By CA Devender Singh
Income Tax Appellate Tribunal. Lucknow Benches. Lucknow Constitution For The Period From 23107/2018 To 27107/2018, 30.07.2018 To 31.07 .201 8 And 01 .08.2018 To 03.08.201 8.
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before S/shri V Durga Rao, Hon'ble Judicial Member & D S Sunder Singh, Hon'ble Accountant Member During The Period From 16.07.2018 To 27.07.2018
By CA Manu T George
Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before S/shri V Durga Rao, Hon'ble Judicial Member & D S Sunder Singh, Hon'ble Accountant Member During The Period From 16.07.2018 To 27.07.2018
 Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri Pramod Kumar, Am & Mahavir Prasad, JM Causelist For Bench 'A' 16-07-2018
By CA Rashmi Sharma
Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri Pramod Kumar, Am & Mahavir Prasad, JM Causelist For Bench 'A' 16-07-2018
 Punj Lloyd Ltd vs. The Commissioner Value Added Tax
By CA Rashmi Sharma
The petitioner (hereafter "the company") is aggrieved by the failure of the respondent (hereafter called "DVAT") to process and refund excess amounts payable to it for two periods and has approached this court.
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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
 20 LPA-Opening Hiring ! Sr. Manager / Manager - Risk & Compliance (mnc)
By CA Mayank Jain
Salary: INR 15,00,000 - 20,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 New Opening Accountant/accounts Executive/ Chartered Accountant
By CA Manu T George
Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
 25 LPA-Opening SAP Sr. / Principal FICO Functional Consultant
By CA S K Verma
Salary: INR 15,00,000 - 25,00,000 P.A.,PG:MBA/PGDM - Any Specialization, Finance, ICWA (CMA), CA, M.Com - Commerce
 22 LPA-Opening Hiring For Big 4- Statutory Audit
By CA Ojas Aggarwal
Salary: INR 12,00,000 - 22,00,000 P.A.,Functional Area:Accounts, Finance, Tax, Company Secretary, Audit
 40 LPA-Opening CA GM Finance Needed Urgently in Polymer Industry
By CA Nilesh Sahu
Salary: INR 25,00,000 - 40,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 60 LPA-Opening Taxation Accountant
By CA Mayank Jain
Salary: INR 35,00,000 - 60,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
  30 LPA-Opening Manager / Associate Director - Infrastructure Advisory
By CA Manu T George
Salary: INR 22,50,000 - 30,00,000 P.A.,Industry:Strategy / Management Consulting Firms,PG:MBA/PGDM - Any Specialization, CA
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Direct Tax   RSS Feeds
 Filing your income tax returns? Here are four challenges that you may face
By CA Rashmi Sharma
As the last date for filing income tax return approaches, most tax payers would be busy collating various information required to file their returns.
 Filing your income tax returns? Here are four challenges that you may face
By CA Rashmi Sharma
As the last date for filing income tax return approaches, most tax payers would be busy collating various information required to file their returns.
 Here's a list of things to remember while filing income tax returns this year
By CA Atul Gupta
Those who are bound by the return filing mandate need to make sure they are filing their return within the due date of July 31.
 How to fill salary details in ITR1 for FY 2017-18
By CA Mayank Jain
Income tax return (ITR) form 1 for FY 2017-18 requires taxpayers to provide full details of their salary income and income from house property.
 Filing income tax returns? You need to disclose these assets to the taxman
By CA Manu T George
In order to detect cases of disproportionate assets owned by a taxpayer as compared to his known sources of income, the Income Tax Department wants taxpayer with income over Rs 50 lakh to report various assets and liabilities in income tax return (ITR).
 Here's why you should not delay filing your income tax returns
By CA Rashmi Sharma
If you wait till the last minute to file your returns, you may commit mistakes in a hurry and will have to file a revised return
 Six changes in ITR 1 form that you must know ITR 2018-19
By CA Mayank Jain
Salaried employees with income below Rs 50 lakh per year and one house property need to fill ITR1 from while filing income tax return.
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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
 Indian High Court refuses to review dispute over transfer pricing comparables selection
By CA Ojas Aggarwal
An Indian High Court on June 29 ruled in a transfer pricing dispute that Indian tribunals are the final fact-finding authority; therefore, questions such as the appropriateness of comparables cannot be reviewed by the High Court.
 Move court only on question of law in transfer pricing cases: High Court
By CA Andrew F Thomas
In what could impact several ongoing disputes over transfer pricing, the Karnataka High Court ruled that courts should be approached in such cases only if there is a substantial question of law.
 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.
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Customs and Excise   RSS Feeds
 Ministry Of Finance Notification No. 50/2018–customs
By CA Manu T George
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962)
 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.
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Mergers and Acquisitions   RSS Feeds
 CCI launches online guidance system for merger & acquisitions
By CA Mayank Jain
The Competition Commission today launched an online guidance system on merger & acquisitions rules in order to simplify compliance requirements.
  Deals Of The Day-Mergers And Acquisitions July 16, 2018
By CA Manu T George
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday
  Deals Of The Day-Mergers And Acquisitions July 16, 2018
By CA Rashmi Sharma
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday
 Deals Of The Day-Mergers And Acquisitions July 16, 2018
By CA Andrew F Thomas
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday
 Deals Of The Day-Mergers And Acquisitions July 13, 2018
By CA Manu T George
Malaysia’s IHH Healthcare Bhd is set to take control of India’s Fortis Healthcare after its bid of up to $1.1 billion was chosen over a rival’s, giving it ownership of over 30 hospitals amid a private healthcare boom in India.
 Deals Of The Day-Mergers And Acquisitions July 11, 2018
By CA Nilesh Sahu
The following bids, mergers, acquisitions and disposals were reported by 1030 GMT on Wednesday
 Deals Of The Day-Mergers And Acquisitions July 5, 2018
By CA S K Verma
Perry Ellis International Inc recommended shareholders to vote for the buyout offer from the company’s founder instead of a higher bid made by men’s accessories maker Randa.
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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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