News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
News Headlines   RSS Feeds
 Notification No.76/2019 Central Board Of Indirect Taxes And Customs
By CA S K Verma
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.72/2019-CUSTOMS
  What to do if you haven’t got tax refund yeta
By CA Devender Singh
Are you wondering why you have not received your income tax refund yet despite having filed your income tax return (ITR) within the due date for assessment year (AY) 2019-20? There could be various reasons for the same. However, a common reason could be furnishing incorrect bank account details in the ITR form.
 Section 35D of the Income Tax Act, 1961 deals with the Amortization of Expenditure incurred in respect of Preliminary Expenses.
By CA Devender Singh
These are those expenses which are incurred for setting up of new business i.e., before commencement, or for extension of existing undertaking or in connection with setting up of a new unit.
 Notification No. 80/2019 Central Board Of Direct Taxes
By CA Mayank Jain
In exercise of the powers conferred by clause (v) of proviso to section 194N of the Income-tax Act, 1961 (43 of 1961), the Central Government, after consultation with the Reserve Bank of India (RBI), hereby specifies
 Notification No. 79/2019 Central Board Of Direct Taxes
By CA Nilesh Sahu
In exercise of the powers conferred by sub-section (1) of section 280A of the Income-tax Act, 1961 (43 of 1961), the Central Government, in consultation with the Chief Justice of the High Court of Karnataka,
 This major tax deadline is today. What you need to know
By CA Ojas Aggarwal
If you asked the IRS for six more months to work on your 2018 tax return, you’re about to run out of time. This spring, about 15 million taxpayers asked the IRS for an extension on their 2018 tax return. While those filers had to pay their projected taxes by April 15, they had to until Oct. 15 to complete and submit their returns.
  Notification No. 77/2019 Central Board Of Direct Taxes
By CA S K Verma
In pursuance of the powers conferred by sub-sections (1), (2) and (5) of Section 120 of the Income-tax Act, 1961(43 of 1961), the Central Board of Direct Taxes hereby directs that the Income-tax Authority of Regional e-Assessment Centres (read as ReAC) specified in column (2) of the Schedule below
More »
Continuing Prof. Edu.   RSS Feeds
 Financial Analysis & Management Accounting And Auditing
By CA Mayank Jain
Place: Faridabad CPE Study Circle of L&T-MHPS Boilers Private Limited(LMB) for Members in Industry of ICAI Date: 23-10-2019 – To: 23-10-2019 CPE.Hrs.: 3
 CPE Events 21th October To 26th October 2019
By CA Mayank Jain
CPE Events 21th October To 26th October 2019
 Seminar on Insolvency and Bankruptcy Code 2016 – A Gateway of Professional Opportunities
By CA Ojas Aggarwal
Place: Faridabad Branch Of NIRC Date: 19-10-2019 – To: 19-10-2019 CPE.Hrs.: 3
 Tax E- Assessment and Annual filing of returns under companies act
By CA Atul Gupta
Place: Shivaji Marg CPE Study Circle of NIRC Date: 19-10-2019 – To: 19-10-2019 CPE.Hrs.: 4
 Seminar on Sabka Vishwas and Recent Amendment in GST AND Procedural aspect of E assessment scheme 2019 under Income Tax and Q & A on ITR 6
By CA Mayank Jain
Place: North-Ex C.A. Study Circle of NIRC Date: 18-10-2019 – To: 18-10-2019 CPE.Hrs.: 4
 Discussion on Income Tax (Amendment) Ordinance 2019
By CA Manu T George
Place: Vikas Marg C.A. Study Circle of NIRC Date: 21-10-2019 – To: 21-10-2019 CPE.Hrs.: 4
 CPE Events 14th October To 19th October 2019
By CA S K Verma
CPE Events 14th October To 19th October 2019
More »
GST - Goods and Services Tax   RSS Feeds
 GST return filing: Businesses need to do this differently while filing GSTR-3B for September
By CA Rashmi Sharma
GST return filing: September month return invites various actions and adjustments by the taxpayers unlike other monthly returns. Here are the points which businesses must keep in mind for filing the monthly return GSTR-3B.
  Damning verdict on GST’s anti-profiteering rulings
By CA Andrew F Thomas
While the government came up with the idea of anti-profiteering in the GST law to ensure consumers didn’t get shortchanged with manufacturers not passing on GST rate-cuts, it was never clear why the government didn’t trust the markets to ensure this happened.
 New GST return forms may force firms to change ERP systems
By CA S K Verma
The new Goods and Services Tax (GST) returns from April 2020 that mandate providing more details may require companies to amend their enterprise resource planning (ERP) systems.
 Finding solution to GST conundrum
By CA Ojas Aggarwal
In a recent meet at Pune, the Finance Minister asked the participants not to damn the goods and services tax (GST) as it is the law passed by the Parliament and the State legislatures.
 GST: Dealing in international trade? You may not be classified as exporter
By CA Rashmi Sharma
According to the existing law, all intermediaries including the ones supplying services to outside India were subject to GST at the rate of 18%. ‘Intermediaries’ are specifically defined under the GST Act as a broker who arranges the supply.
 E-invoicing, a game-changer for GST
By CA Andrew F Thomas
The GST Council, on September 29, 2019, has approved the introduction of ‘E-invoicing’ or ‘electronic invoicing’ for business to business (B2B) transactions from January 1, 2020. Once implemented, it can help arrest tax evasion as it enables pre-populating of GST returns with the e-invoice details. Return filing will also become simpler with reconciliation becoming easier.
 Hopeful of GST collections recovering in the second half
By CA Devender Singh
Goods & Services Tax (GST) collections are expected to pick up during the second half of the current fiscal, according Revenue Secretary Ajay B Pandey.
More »
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.
More »
General   RSS Feeds
 The tax matter India must not cede ground on
By CA Andrew F Thomas
This should have been basic logic: MNCs must pay their share of tax in every market where they make a profit. In an interview with Nobel laureates Abhijit Banerjee and Esther Duflo in ToI last Saturday, Banerjee stated, “You can’t have all the production of India being attributed to the Maldives. You have to somehow think of ways to declare income where it is produced, some value added share or something. But you can’t just say that we will assign it anywhere.” He was responding to a query on how high tax rates drive people (and businesses) to move to countries that attract lower tax rates.
 Small savings schemes: Look at post-tax return before deciding to invest
By CA S K Verma
With the economy witnessing a slowdown, and the stock markets also turning volatile, many investors are looking for alternative avenues to park their savings
 Financial services firms come under taxman’s scanner
By CA Manu T George
Indirect tax officials suspect that some of these companies may have claimed input tax credit on expenses incurred before the switchover to the GST regime in July 2017, said people aware of the matter.
 Filing Income Tax Return Using Aadhaar Leads To Allotment Of Aadhaar. Read Latest Rules Here
By CA Nilesh Sahu
Did you know that a PAN or Permanent Account Number is generated automatically if an income tax return (ITR) is filed by quoting an Aadhaar number? The Income Tax Department said last month that a PAN will be generated automatically if a person files the ITR is filed using Aadhaar.
 If you are not paying income tax, get ready for I-T department's call
By CA Devender Singh
Not paying taxes and having unaccounted income is not going to pay any dividend anymore. The Income Tax Department has set up a huge database of all citizens.
 Five things to expect from GST Council meet in Goa today
By CA Nilesh Sahu
Federal indirect tax body, the Goods and Services Tax (GST) Council, is set to meet in Goa on Friday amid demands from the industry for a fiscal stimulus. Here are the five things to expect from the meeting to be chaired by union finance minister Nirmala Sitharaman.
 Are steps on personal income tax coming?
By CA Devender Singh
The sharp cut in corporate tax rate has triggered demand and speculation about more measures particularly on the personal income tax side. The government has a report of the task force on direct tax to chart out any future measures on the personal income tax.
More »
Corporate Law   RSS Feeds
  GST & Companies Act way Forward
By CA Mayank Jain
Place: East Delhi CPE Study Circle of NIRC Date: 06-04-2019 – To: 06-04-2019 CPE.Hrs.: 5
 Taxmen use rare law to collect dues directly from bank accounts of evaders
By CA Manu T George
Revenue officials, chasing huge tax collection deficit, are moving into top gear to maximise collections by year end even if that means deducting money directly from your bank account to fill a gap of thousands of crores.
 Income tax law needs to be a lot simpler
By CA Manu T George
Simplifying the Income Tax Act, automating tax collection and return processing and making the process user-friendly are priorities for the National Democratic Alliance (NDA) government, finance minister Piyush Goyal said.
 Govt panel may recommend dropping dividend distribution tax in new direct tax law
By CA Rashmi Sharma
The tax law panel is considering reverting to the classical method of taxing dividend in the hands of the shareholders Members of the task force set up to draft a new direct tax legislation may favour abolishing dividend distribution tax (DDT), according to a report by The Times of India.
 Law Commission proposes to abolish it Tax saving tool HUF may cease to exist
By CA Atul Gupta
The concept of Hindu Undivided Family (HUF) may cease to exist if the proposals of a recently released consultation paper on Reform of Family Law by the law commission are accepted.
 Residential status rules are different for exchange control, income tax laws NRI taxation
By CA Nilesh Sahu
The rules for determination of residential status under the exchange control law are different from those under the income tax law.
 Recent advance rulings under the GST Law
By CA Andrew F Thomas
The Authority for Advance Ruling (AAR) constituted under the Goods and Services Tax (GST) Law has recently pronounced advance rulings clarifying certain positions on the applicability of GST on supply of goods from retail outlets in international airports,
More »
Students   RSS Feeds
 Registration for Practical Training Assessments on December 8 and 29, 2019
By CA Devender Singh
The next practical training assessments are being scheduled on December 8 and 29, 2019. The students who have completed their 1st/ 2nd year of practical training during January 1 – September 30, 2019 are eligible to appear in these tests.
  No Postponement of CA November 2019 Exams
By CA Rashmi Sharma
It has been brought to our notice that certain announcement is being circulated in social media that the CA Exams will be held in December instead of November 2019.
 Effective Date of Validity of Peer Review Certificate.
By CA Manu T George
The Peer Review Board at its 59th meeting held on 23.08.2019, considering the difficulties faced by practice units on the validity of Peer Review Certificate, decided as follows
 ANNOUNCEMENT- Evaluation of Answer Books of CA Examsa
By CA Rashmi Sharma
It has been brought to our notice that certain adverse reports relating to the system of evaluation of answer books of CA exams are doing the rounds in social media. In this connection, following reforms which have been put in place recently are brought to the attention of the stakeholders in respect of the ICAI examination system
 Extension of the last date for submission of examination application forms in respect of CA exams to be held in November 2019, for candidates in J & K only
By CA Devender Singh
In view of the disruption of internet facitily in Jammu & Kashmir and the consequent hardships caused to students in filing examination application form, the last date for submission of exam application forms for appearing in the CA exams to be held in the month of November 2019 for candidates residing in the Jammu & Kashmir stands extended upto 15th September, 2019.
 Important Announcement - For kind attention of Direct Entry Students
By CA Mayank Jain
In order to mitigate the hardship being faced by the students while registering in Intermediate Course through Direct Entry Route till 30th June, 2019, the Council has decided to relax the criteria of completion of nine months of Practical Training to six months for being eligible to appear in the May 2020 Intermediate Examinations. Accordingly, the Council has passed the following resolution under Regulation 205 of the Chartered Accountants Regulations, 1988
 Relaxation in the requirement to undergo 8 months Study Period to appear in May, 2020 Intermediate Examination in respect of students who have cleared May/June, 2019 Foundation Examinations.
By CA Manu T George
In order to mitigate the hardship being faced by the students while registering themselves in Intermediate Course through Foundation Route on Self Service Portal to be eligible for appearing in May 2020 examinations, the Council has decided to give following relaxation to students who have cleared Foundation Examination in the results declared on 13th of August, 2019
More »
New Forms   RSS Feeds
 TDS mismatch in Form 26AS & Form 16? Ask employer to issue new Form 16 with correct details
By CA Mayank Jain
One must obtain Form 16 (TDS certificate issued by the employer) and verify the same with the Form 26AS.
 Before you file your tax return, note the key changes in Form 16
By CA Mayank Jain
Part B of Form 16 has been amended seeking more details about the allowances exempt under section 10 such as HRA, LTA, etc and deductions allowed under Chapter VI-A of the Income Tax Act, 1961.
 5 Things to know about Form 16
By CA Atul Gupta
Form 16 is a certificate issued by an employer, certifying that the TDS is deducted from the salary of the employee and deposited with the government.
 Form 16 will now have more details of your income and deductions
By CA Nilesh Sahu
In yet another attempt to increase transparency and minimize tax evasion, the Central Board of Direct Taxes (CBDT) has notified various changes in the formats of Form 16 and Form 24Q. The new amendments are in line with the changes in income-tax rules and new income tax return (ITR) forms recently notified by CBDT for assessment year (AY) 2019-20.
 Amendment of Form No. 16 and Form No. 24Q
By CA Manu T George
In exercise of powers conferred by sections 200 and 203 read with section 295 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,
 What are Form 15G, Form 15H?
By CA Mayank Jain
Form 15G is for resident Indians under the age of 60, HUF or trust. While Form 15H is for resident Indians aged 60 years or above.
  Post Qualification Course in International Taxation - Assessment Test (INTT-AT) - May, 2019 Application Form
By CA Atul Gupta
Candidates are advised to carefully read, understand and follow the instructions while filling in the Form and retain the same for future reference
More »
ICAI   RSS Feeds
 Register for Exclusive First Weekend Batch of Spanish Language Course - Level A.1.2 (60 hours) for ICAI Members and Students at New Delhi – 1st December, 2019
By CA Ojas Aggarwal
The Institute of Chartered Accountants of India (ICAI), through its Committee for Export of CA Services & WTO had made a tie up through Instituto Cervantes, Spanish Embassy Cultural Centre, to promote Spanish language amongst its members and students in order to overcome language barriers abroad. The first weekend batch of the Spanish language course (level A1.2- for 60 hours) is starting from 1st December, 2019 at New Delhi.
 Four Weeks Residential Programme to be held from 29th January, 2020 to 25th February, 2020 at CoE, Hyderabad for Women Participants only.
By CA Devender Singh
Board of Studies is pleased to announce the next batch of ICAI Four Weeks Residential Programme on Pro-fessional Skills Development from 29th January 2020 to 25th February, 2020 at Centre of Excellence, Hyder-abad.
 Should existing digital signature be revised or changed due to UDIN insertion?
By CA Manu T George
UDIN has no connection with Member’s Digital Signature and therefore no changes are required in Digital Signature.
 Can multiple certificate details be uploaded on UDIN portal in excel or any other format?
By CA Rashmi Sharma
There is no provision of such uploading. It has to be generated one by one.
  Change of Venue in respect of some of the Candidates of Foundation and Final Examinations at New Delhi, in respect of November 2019 Exams.
By CA Ojas Aggarwal
It is hereby informed that due to unavoidable circumstances, the venue of Foundation and Final Examinations scheduled to be held from 1st November 2019 to 18th November 2019 in respect of some of the candidates at New Delhi is being shifted. {ad}
 Discontinuance of activities at Sub-Decentralised Offices of ICAI
By CA Atul Gupta
ICAI’s Members and Students services have already been made online, in digitized form on a new platform which works on a Self Service Mode on the Self Service portal (SSP) and in view of the same, the functions/activities which were hitherto performed by Sub-Decentralised Offices (sub-DCOs) of receiving physical forms have been discontinued.
 Change of Venue in respect of some of the Candidates of Foundation and Final Examinations at New Delhi, in respect of November 2019 Exams.
By CA Manu T George
It is hereby informed that due to unavoidable circumstances, the venue of Foundation and Final Examinations scheduled to be held from 1st November 2019 to 18th November 2019 in respect of some of the candidates at New Delhi is being shifted.
More »
From the Courts   RSS Feeds
 The Income Tax Officer, Ward-14(3), Room No.305, C.R. Building, New Delhi. Vs. M/s. KEI Industries Ltd., D-90, Okhla Industrial Area, Phase-I, New Delhi.
By CA Rashmi Sharma
This appeal by Revenue has been directed against the Order of the Ld. CIT(A)-V, New Delhi, Dated 30.03.2015, for the A.Y. 2011-2012.
 Dy. Commissioner of Income Tax, Central Circle-32, New Delhi vs. M/s Utkarsh Realtech Pvt. Ltd. M-11,Middle Circle, Connaught Circus, New Delhi
By CA Andrew F Thomas
This appeal has been filed by the Revenue against the order dated 27.03.2015 passed by Learned Commissioner of Income Tax (Appeals)-XXX, New Delhi
 Freak Buildcon Pvt. Ltd. Sabharwal & Partners, Advocates, Delhi High Court, 4819/24, Ansari Road, Daryaganj, New Delhi. Vs. ACIT Central Circle 28, New Delhi.
By CA Nilesh Sahu
Since facts involved in these appeals are same and identical, hence, the appeals were heard together and for the sake of convenience, all these appeals are being consolidated
 M/s. Marudhara Marketing Pvt. Ltd., C/o Ravi Gupta, Advocate, E – 6A, Kailash Colony, New Delhi – 110 048. Vs. ACIT, Central Circle 30, New Delhi.
By CA Nilesh Sahu
Appellant, M/s. Marudhara Marketing Pvt. Ltd. (hereinafter referred to as the `assessee') by filing the present appeal, sought to set aside the impugned order dated 28.12.2018 passed by the Commissioner of Income - tax
 Dy. Commissioner of Income Tax, Circle-2(1)(2), (Intl. Tax), New Delhi. Vs. Shri Naresh Kumar, C/o Dewan P.N. Chopra & Co. D-295, Defence Colony, New Delhi-110024.
By CA Devender Singh
This appeal by Revenue is filed against the order of Learned Commissioner of Income Tax (Appeals)-43, New Delhi, ["Ld. CIT(A)", for short], dated 29.08.2016 for Assessment Year 2010-11. Grounds taken in this appeal of Revenue are as under
 M/s. Emergent Ventures India Pvt. Ltd., 11th Floor, Vatika Professional Point, Sector-66, Golf Course Extension Road, Gurgaon Vs. ACIT, Range-1, Gurgaon
By CA S K Verma
Referred Sections: Section 145 (3) and 144 of the Income Tax Act 1961, Section 14A of the Income Tax Act., Section 40 (a) (i) of the Income tax Act, Section 143(2) of the Income-tax Act, 1961, Section 142(1)
 DCIT, Circle-2(1), New Delhi Vs. M/s. BBC Worldwide (India) Pvt. Ltd, 518- 522, World Trade Centre, Baba Road, New Delhi
By CA Ojas Aggarwal
Referred Sections: Section 250 of the Income Tax Act, 1961, Section 154 of the income tax act, Section 92CA of the act , Section 2 (28C), Section 117 of the act., Sections 92C and 92D of the act., Section 151(2) of the act. Section 132(1)., Section 2(28D) of the said Act., Section 144C of the act, Section 234D of the Act.”
More »
Auditing   RSS Feeds
 Auditors barred from putting a value on companies they are auditing
By CA S K Verma
An income tax tribunal has barred auditors from issuing valuation certificates to the companies they are auditing. This is set to impact several tax disputes around valuations in companies including angel tax disputes involving start-ups.
 Standard on Internal Audit (SIA) 18, Related Parties
By CA Devender Singh
Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
By CA S K Verma
Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
 Standard on Internal Audit (SIA) 16, Using the Work of an Expert
By CA Ojas Aggarwal
Standard on Internal Audit (SIA) 16, Using the Work of an Expert
 Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
By CA Atul Gupta
Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
By CA Mayank Jain
Standard on Internal Audit (SIA) 13, Enterprise Risk Management
 Standard on Internal Audit (SIA) 12, Internal Control Evaluation
By CA Manu T George
Standard on Internal Audit (SIA) 12, Internal Control Evaluation
More »
Latest Circulars   RSS Feeds
 RBI tells banks to not send agents to do KYC for retail loans, credit cards
By CA Atul Gupta
The aim is to bring down cases of data theft and reduce operational risks. But the lenders are afraid that this might lead to deceleration of consumer loans and credit cards.
  Auction of State Government Securities
By CA Devender Singh
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 22, 2019 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility (available on RBI website).
 Reserve Bank of India imposes monetary penalty on SBM Bank (India) Ltd.
By CA Manu T George
The Reserve Bank of India (RBI) has, by an order dated October 15, 2019, imposed a monetary penalty of ₹ 3 crore on SBM Bank (India) Ltd. for non-compliance by SBM Bank (Mauritius) Ltd. (amalgamated with SBM Bank (India) Ltd. on November 30, 2018) with certain provisions of directions issued by RBI
 Conversion of Government of India (GoI)’s Securities
By CA Rashmi Sharma
The Government of India announces the conversion of its securities through auction for an aggregate amount of ₹ 20,000 crore (face value). The security-wise details of the conversion are given as under
  Director for Institute for Development and Research in Banking Technology (IDRBT)
By CA Nilesh Sahu
The Reserve Bank of India had set up the Institute for Development and Research in Banking Technology (IDRBT) on June 10, 1996 as a Society under the Society Registration Act, governed by a Governing Council (GC). The Director, IDRBT is Member Secretary of the Governing Council.
  RBI-Auction of State Government Securities Oct 17, 2019
By CA Devender Singh
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on October 22, 2019 (Tuesday).
 RBI-On-tap Authorisation of Payment Systems
By CA Mayank Jain
Reserve Bank of India had on January 21, 2019 released a policy paper on Authorisation of New Retail Payment Systems on its website and invited public comments there on. Comments / Feedback were received from individuals, public and private entities, institutions and industry associations.
More »
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
More »
ITAT-Constitution of Benches   RSS Feeds
 ITAT slams Tax Dept for Negligence in Maintaining Records, says Assessee can’t be Penalized for such Mistakes
By CA Ojas Aggarwal
While granting section 12A registration to a Trust, the Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has criticized the income tax department for its negligence in keeping records.
 Monetary limits for filing/withdrawal of Wealth Tax appeals by the Department before ITAT, HCs and SLPs/appeals before SC through extending the scope of Circular 3 of 2018 -Measures for reducing litigation.?
By CA Devender Singh
Reference is invited to Board's Circular No. 3 of 2018 dated 11.07.2018 (hereinafter, referred to as "the Circular") vide which monetary limits for filing of income tax appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/ appeals before Supreme Court were specified.
 Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Cause List Of Cases Posted Before A-Bench ( Db & Smc ) 14.01.2019 To 18.01.2019
By CA Rashmi Sharma
Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Cause List Of Cases Posted Before A-Bench ( Db & Smc ) 14.01.2019 To 18.01.2019
 Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sal Ma/ Pronouncement For Friday 18.01.2019
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sal Ma/ Pronouncement For Friday 18.01.2019
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata. Sub : Cause List For The Cases Fixed On Friday The 11/01/2019
By CA Manu T George
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata. Sub : Cause List For The Cases Fixed On Friday The 11/01/2019
 Income Tax Appellate Tribunamumbai Benchemumbai Consolidated Cause List Of SA/ Maj Pronouncement For Friday 11.01.2019
By CA Rashmi Sharma
Income Tax Appellate Tribunamumbai Benchemumbai Consolidated Cause List Of SA/ Maj Pronouncement For Friday 11.01.2019
 Income Tax Appellate Tribunal: Chandigarh Benches: Chandigarh Revised Constitution Of Chandigarh Benches From: 17'12.2018 To 21.12.2018 & 24.12.2018 To 28.12.2018,
By CA Andrew F Thomas
Income Tax Appellate Tribunal: Chandigarh Benches: Chandigarh Revised Constitution Of Chandigarh Benches From: 17'12.2018 To 21.12.2018 & 24.12.2018 To 28.12.2018,
More »
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.
More »
Placements & Empanelment   RSS Feeds
 1 Cr LPA-Opening Chartered Accountant (cima,cfa,ca,cpa)
By CA Atul Gupta
Salary INR: 50,00,000 - 1 Cr and above P.A, Functional AreaAccounts, Finance, Tax, Company Secretary, Audit,
  32.5 LPA-Opening Senior Accountant
By CA Mayank Jain
salary INR ? 20,00,000 - 32,50,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, PG :Any Postgraduate in Any Specialization,
 17 LPA-Opening Required Chartered Accountant - For Garment Export House
By CA Andrew F Thomas
Salary INR 13,00,000 - 17,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
  25 LPA-Opening Chartered Accountant
By CA Atul Gupta
Salary INR: 20,00,000 - 25,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, PG :CA in CA, Post Graduation
 20 LPA-Opening Chief Financial Officer (cfo)
By CA Ojas Aggarwal
Salary INR: 15,00,000 - 20,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, PG :CA in CA
  25 LPA-Opening Chartered Accountant
By CA Atul Gupta
Salary INR: 20,00,000 - 25,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 22.5 LPA-Openingh MNC Hiring Chartered Accountant with Team Management Experience.
By CA Rashmi Sharma
Salary: INR 17,00,000 - 22,50,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
More »
Direct Tax   RSS Feeds
 ITR Filing: Filing return? First, know this IMPORTANT THING through income tax calculator
By CA Manu T George
Income Tax Return Filing: One should find out the income tax allowance being given to an earning individual under the Income Tax Act 1961.
 How the proposed new Direct Tax Code could cut your income tax
By CA Nilesh Sahu
When the corporate tax rate was reduced to 25% last month, it was termed as an early Diwali for the corporate sector. Now, taxpayers are hoping the government will gift them a similar tax relief. According to former Niti Aayog Chairman Arvind Panagariya, “there is a strong case for a similar reform of personal income tax”.
 How is the residential status of an individual determined for income tax
By CA Nilesh Sahu
Any income earned by a taxpayer from sources in India or received in India (first receipt) is taxable in India. The residential status of taxpayers plays a key role in determining the scope of taxable income for a financial year in India and there by the tax payable.
 Notification No. 49/2019 Central Board of Indirect Taxes and Customs
By CA Andrew F Thomas
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,
 Direct tax code aims to simplify archaic tax rules as we know it
By CA Devender Singh
Income tax rules that govern how you pay taxes on your income date back to 1961. In order to keep up with time and to make rules on income tax less cluttered, the government has been contemplating a reform through the direct tax code (DTC). A task force that was entrusted with the preparation of the tax code has now submitted the report to the finance ministry although the recommendations are not out in the public domain yet.
 Have ITR related queries? This is how you can get them answered
By CA Atul Gupta
Taxpayers can directly approach the income tax department, with any query related to ITR filing, processing, refunds, etc. by filling up an online form.
 E-assessment Of I-T returns launched
By CA Mayank Jain
The government of India has over the last few years taken various steps to reduce human interface between the tax administration and the taxpayers and bring in consistency and transparency in various tax matters through use of Information Technology.
More »
Tenders   RSS Feeds
 Industrial Pramotion and Investment Corporation of Odisha Limited, Odisha
By CA S K Verma
IPICOL invites EOI in the enclosed format from Chartered/Cost Accountant Firms (Partnership /Limited Liability Partnership / Company) for appointment of Consultant for adoption and implementation Indian Accounting Standards (Ind AS)
 Jharkhand University of Technology, Namkum, Ranchi
By CA Ojas Aggarwal
Jharkhand University of Technology, Ranchi (JUT) on behalf of Government of Jharkhand invites Tender from Chartered Accountant Firms for GST Consultancy and Accounting Services.
 National Hydroelectric Power Corporation Limited, Dhemaji, Assam
By CA Atul Gupta
Online electronic bid (e-tenders) under Two cover system are invited on behalf of NHPC Limited (A Public sector Enterprise of the Government of India), Subansiri Lower H.E. Project from domestic bidders registered in India.
 Hutti Gold Mines Co Ltd
By CA Manu T George
The Hutti Gold Mines Company Limited (HGML), a Government of Karnataka Undertaking has the unique distinction of being the only primary producers of gold in the country.
  National Institute Of Technology, Ashok Rajpath, Patna
By CA S K Verma
National Institute of Technology, Patna, invites applications for engagement of Chartered Accountants firm to preparing (i) Annual Accounts of the Institute including Data entry in Tally ERP-9 for the financial Year 2019-20 (ii) Bank reconciliation and (iii) Internal Audit work of Sponsored Projects.
 National Backward Classes Finance & Development Corporation, Kranti Marg, New Delhi
By CA Mayank Jain
National Backward Classes Finance and Development Corporation (NBCFDC), is a Govt. of India Undertaking under the aegis of Ministry of Social Justice and Empowerment. The Corporation was incorporated on 13th January, 1992
 National Institute Of Technology, Ashok Rajpath, Patna
By CA Mayank Jain
National Institute of Technology, Patna, invites applications for engagement of Chartered Accountants firm to preparing (i) Annual Accounts of the Institute including Data entry in Tally ERP-9 for the financial Year 2019-20 (ii) Bank reconciliation and (iii) Internal Audit work of Sponsored Projects.
More »
Transfer Pricing   RSS Feeds
 National High Speed Rail Corporation Limited, New Delhi, Delhi
By CA Nilesh Sahu
Completed tender documents sealed in an envelope super-scribing the name of work; name and address of the Bidder, shall be submitted at NHSRCL's office at address in Para 1 above before 15.00 hrs. on 10.09.2019.
 Deals of the day-Mergers and acquisitions September 3, 2019
By CA Andrew F Thomas
Industrial vehicle maker CNH Industrial, said it planned to split its operations in two to create two more focused businesses.
 Transfer pricing documentation due by year-end
By CA Nilesh Sahu
Transfer pricing documentation, required by the State Administration of Taxation (SAT), is due to be submitted by companies that are part of an international group by the end of December.
 Transfer pricing amendments – a step towards certainty
By CA Manu T George
The Finance Minister has proposed to provide an option to the taxpayers to make one-time payment of tax including surcharge on the amount of transfer pricing adjustment or part thereof, instead of tax on deemed interest every year in case the taxpayer does not repatriate money from its AE in India.
 key international tax and transfer pricing developments
By CA Rashmi Sharma
Following the re-election of the Modi government, this year’s budget was presented by India’s first full-time female Finance Minister, Mrs. Nirmala Sitharaman. The finance minister maintained the theme that it is well within India’s capacity to reach a $5 trillion economy by 2025.
 Transfer pricing methodology of MNCs under customs department lens
By CA Rashmi Sharma
The days for information arbitration may just be over for many companies. The special valuation branch of the customs department is scrutinising transfer pricing methodologies of several multinationals with a view to reconcile their tax and import-expert submissions.
 MNCs now won't have to file CbC report in Indiaa
By CA Ojas Aggarwal
Indian arms of US MNCs will not have to file country by country or CbC report here. India has finalized bilateral competent authority arrangement for exchange of CbC reports with US.
More »
Customs and Excise   RSS Feeds
 Notification No. 78/2019 Central Board Of Direct Taxes
By CA Rashmi Sharma
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, `Kerala Bamboo, Kattuvalli and Pandanus Leaf Workers' Welfare Fund Board' (PAN AAAJK1244Q), a Boardconstituted by the Government of Kerala, in respect of the following specified income arising to that Board, namely
  Notification No. 74 /2019 Central Board of Indirect Taxes and Customs
By CA Nilesh Sahu
In exercise of the powers conferred by section 157 read with section 84 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following regulations, further to amend the Courier Imports and Exports (Electronic Declaration and Processing) Regulations, 2010,
 Notification No.63/2019 Central Board Of Indirect Taxes And Customs
By CA Atul Gupta
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.60/2019-CUSTOMS (N.T.), dated 14th August, 2019 except as respects things done or omitted to be done before such supersession
 Notification No. 62/2019- Central Board of Indirect Taxes and Customs
By CA Devender Singh
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs
 Notification No.60/2019 Central Board Of Indirect Taxes And Customsa
By CA S K Verma
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.55/2019-CUSTOMS (N.T.), dated 1st August, 2019 except as respects things done or omitted to be done before such supersession,
 Notification No.59/2019 Central Board Of Indirect Taxes And Customs
By CA Rashmi Sharma
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendments in the Notification of the Central Board of Indirect Taxes and Customs No.55/2019-CUSTOMS (N.T.), dated 1st August, 2019 with effect from 14th August, 2019,
  Notification No. 57/2019- Central Board of Indirect Taxes and Customs
By CA Mayank Jain
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs
More »
Mergers and Acquisitions   RSS Feeds
 Deals of the day-Mergers and acquisitions October 17, 2019
By CA Andrew F Thomas
Balkan telecoms and media company United Group B.V. is in discussions to acquire Bulgaria’s leading telecoms operator Vivacom, which went up for sale in July this year, two sources familiar with the matter said.
 Mergers and Acquisitions in India at lifetime high in 2018; Walmart-Flipkart deal largest in a decade
By CA Nilesh Sahu
Mergers and Acquisitions value in India soared in the last year 2018 with a total deal value reaching a lifetime high of $95.4 billion, driven mainly by multi-billion-dollar transactions including Walmart-Flipkart, Vodafone-Idea, ONGC-HPCL, and Tata Steel-Bhushan Steel. These four deals contributed 41 per cent of total deal value for 2018,
 Gun Jumping In Mergers And Acquisitions
By CA Devender Singh
Competition is regarded as the one of the most useful means recognized globally to ensure that consumers are provided access to a wide range of goods and services at competitive prices and the producers have an incentive to innovate and reduce costs for meeting the demands of consumers. It would be correct to mention that competition promotes efficiency. Recognizing its importance, governments across the world promote and sustain competition in the markets through appropriate regulations.
 Share of carve-outs in M&A deals rises as firms hive non-core assets
By CA S K Verma
According to the Bain-CII India M&A report, the share of carve-out deals among non-distressed asset deals has increased in salience from 27% in 2015 to 33% in 2018, with many headline deals over the last four years being carve-outs.
 Global headwinds cause steep fall in Mergers & Acquisitions activity in August
By CA Ojas Aggarwal
The month also saw active deal-making in the pharma and healthcare, e-commerce, banking, retail, and media and entertainment sectors.
 India witnesses M&A activity worth $310 billion between 2015-2019
By CA Atul Gupta
The report focused on 60 largest transactions by strategic investors in India between 2015 and 2019, each valued at more than $250 million.
 Competition Commission puts in place green channel route for M&A approvals
By CA Andrew F Thomas
Mergers and Acquisitions (M&As) or combinations beyond a certain threshold are required to have mandatory approval from the fair trade regulator.
More »
Indirect Tax   RSS Feeds
 Govt gives businesses four months to settle indirect tax disputes
By CA Rashmi Sharma
Businesses can now settle their pending disputes relating to central excise duty and service tax within four months starting 1 September under the terms notified by the government on Thursday.
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
By CA S K Verma
Income Tax Return: Income Tax department has made lives easier for the taxpayers by launching 'e-Filing Lite' portal. The portal is meant for the tax payers who find filing of income tax returns (ITR) on their own a complicated and time-taking process.
 No income tax on interest from accident compensation: High Court
By CA Manu T George
Forty years after an eight-year-old city boy was left maimed for life in a car accident, the Bombay High Court on Thursday held that income tax should not have been deducted from the interest on the compensation awarded by the court. The ruling was given by a bench of justices Akil Kureshi and S J Kathawalla on a plea by accident victim Rupesh Shah, now 48.
 How much tax do you need to pay for your equity investments?
By CA Atul Gupta
Among different types of assets, be they financial or physical, equity investments have given the highest returns over the long term. This is the reason why equity assets form a large part of most investors’ portfolios.
 Income Tax Department proposes new norms for taxing MNCs in India
By CA Atul Gupta
The income tax department on Thursday proposed change in the methodology for taxing multinational companies (MNCs), including digital firms, having permanent establishment in India by giving weightage to factors like domestic sales, employee strength, assets and user base.
 Can you claim tax benefit for tax paid on insurance premium? a
By CA Manu T George
Section 80C and 80D of Income-tax Act entitles specified taxpayers to claim deductions for the entire amount paid to the insurance company for specified insurance schemes.
 Top 30 Income Tax Judgments in 2018
By CA Andrew F Thomas
The year 2018 has been a very significant one to the taxation regime due to some important reforms in the laws and procedures. The contribution of the judiciary including the Supreme Court and various High Courts and Tribunals cannot be ignored. Some of the significant tax judgments delivered by the Indian judiciary in this year have been enlisted below.
More »
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);
More »
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
More »
Help   RSS Feeds
 Query
 Suggestions
 Information
 Results
More »
Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions