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Top Headlines   RSS Feeds
 Section 80D Tax Deductions: Your guide to Smart Healthcare investment
By Andrew F Thomas
Choosing the right health insurance policy and maximising the available deductions not only secure your family's well-being but also enjoy tax benefits.
 How do I claim tax exemption under 54F?
By Henry Richards
I used the capital gains from sale of stocks in FY 22-23 for constructing my house. This is my first property. I missed claiming tax exemption on the amount I spent on construction in ITR for FY2023. Can I revise the ITR and claim exemption under 54F? I will book more capital gains this fiscal year and utilise them for construction of the same house. Can I claim exemption under 54F in the next assessment year also?
 ITR filing: How income from stock market is taxed explained
By Thomas T. Rucks
Income tax calculator: An income made on sale and purchase of shares fall under the business income or capital gain head. So, those who made money in recent stock market rally need to know how their income from stock market will be taxed. According to tax and investment experts, income from stock market is calculated on the basis of holding period.
 Income Tax notice: 6 high-value cash transactions that can get you flagged by I-T dept
By Raul N Tiem
The Income Tax Department takes cognizance of certain high-value transactions that could land you in the legal net if ignored. To prevent tax evasion and money laundering, tax authorities closely monitor a variety of cash-related transactions. Financial institutions, including banks, mutual fund companies, brokerages, and property registrars, have an obligation to report cash transactions exceeding a specific threshold to the tax department. Below are several cash transactions subject to vigilant monitoring by tax authorities:
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Continuing Prof. Edu.   RSS Feeds
  Seminar on Income Tax
 Latest case laws in Direct Tax and CFO services-Opportunities
 Webinar on Accounting of Subsidiaries in Consolidated & Separate Financial Statements of the Parent
 FULL DAY SEMINAR ON TAX AUDIT
 Recent tax amendments b. Important aspects / clauses in Tax Audit
 Seminar on Auditing and Taxation of Charity Trusts
 Seminar on Assessment/ Reassessment u/s 147 of Income Tax Act with Latest Amendments. and tartup India Scheme- New Avenue of Practice for CAs
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GST - Goods and Services Tax   RSS Feeds
 GSTN Introduces the e-Invoice Verifier App: All You Need to Know
By Thomas T. Rucks
The GSTN has launched a new e-invoicing verification app to provide businesses with a convenient solution for verifying e-invoices and other related details. The e-invoice verifier app will ensure quick and accurate e-invoice authentication and does not require the user to log in to be able to use the same.
 Income tax return filing: What is ITR 1 Sahaj form? Check eligibility and steps to file online
By Henry Richards
ITR 1 Sahaj Form: ITR 1 form is the most commonly used form for ITR filing. ITR 1 is filed by taxpayers whose income is up to Rs 50 lakh.
 GST council may consider setting up tribunal for indirect tax litigation
By M. George
It is expected that the tribunal will be a common forum that will ensure uniformity across the country in redressal of disputes arising under the GST regime, officials said
 GST Council may lower tax on health insurance
 GST Annual Return: CBIC amends GSTR-9 to Allow IRC Claims and Amendment of Invoices till 30th Nov
By Orion M.
The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification to allow Input Tax Credit (ITC) claims and amendment of invoices till 30th November 2022.
 GST (Tax) E-invoice Must For Businesses With Over 5 Crore Annual Turnove
By Thomas T. Rucks
Earlier, businesses having turnover of ₹ 20 crore and above were required to generate e-invoices for all B2B transactions.
 GST Portal Releases Module-wise New Functionalities deployed on the Portal for Taxpayers
By Raul N Tiem
The Goods and Services Tax Network (GSTN) has released a module-wise new functionalities deployed on the GST Portal for taxpayers.
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General   RSS Feeds
 How to calculate income tax on stock market gains along with your salary?
By Sandy Mash
If listed stock shares are sold after 12 months of acquisition, the seller is said to have either made a long term capital gain (LTCG) or incurred a long term capital loss (LTCL).
 Moonlighting for Additional Income? Know Its Tax Implications
By Sandy Mash
Moonlighting has become a well-known term after instances of tech professionals from multiple big companies indulging in the same came to light.
 Have you claimed education cess? Be prepared to pay tax as per the new rules
By Thomas T. Rucks
Education Cess was introduced in Financial Year (FY) 2004-2005 with the aim to finance primary education. Currently, the Health and Education Cess (Cess) stands at 4% of gross tax liability (including surcharge). Taxpayers adopted a position to claim Cess as a deduction from their taxable income, which resulted in a dispute with the Tax Department. As a result, the matter was discussed before the Bombay High Court, which granted a deduction to the taxpayer.
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
By Jude Marg
In exercise of the powers conferred by sub section (1) of Section 11 of the Credit Information Companies (Regulation) Act, 2005, and in partial modification of its notification CEPD. PRD. No. S873/13.01.001/2021-22 dated November 12, 2021, the Reserve Bank of India, being satisfied that it is in public interest to do so, and to provide an avenue for cost free alternate grievance redress to customers of regulated entities covered under the RBIOS 2021
 How is tax computed for selling a house?
By Sandy Mash
As per the provisions of the Income-tax (I-T) Act 1961, if the actual sale consideration is lower than the stamp duty value by more than 10%, the stamp duty value would be regarded as the deemed sale consideration, for the purpose of calculating such LTCG/L
 How much tax do you pay on equity investments?
By Andrew F Thomas
Equity as an asset class is an important portion of an investor's portfolio. However, tax rules vary for different types of equity instruments.
 Fuel taxes: Centre s gains striking since FY16
By Orion M.
One of the biggest challenges that a taxpayer faces under the faceless taxation regime is to ensure that he is given a fair hearing during the assessment process as well as during the appeals process. Similarly, with electronic centralized processing of tax returns, taxpayers have to often bear the brunt of mistakes, without having adequate opportunity of putting across their views. The other challenge often faced by taxpayers is that tax laws are framed unilaterally, without considering their views. The counter to this by the government and the Income Tax (I-T) department is that during assessment and appeals, taxpayers are given an opportunity to present their case, and that pre-budget and post-budget consultations are held with various bodies to discuss the tax provisions. Is this really effective in practice?
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Corporate Law   RSS Feeds
 Critical Issues of ICDS and Impact Of DHC Judgement and Correcponding Amendments to Income Tax Act by Finance Act, 2018 and Interplay between them and Reporting
 How to do Audit of Proprietorship and Partnership Firm in the light of new amendment in Tax Audit under Section 44AB
 SC relaxes Dress Code for Lawyers
By Sandy Mash
The due date for filing Income Tax Return (ITR) has been extended to November 30, 2020. Every year taxpayers are required to pay taxes on their income and income from other sources. However, paying taxes can be burdensome, which is why the government introducing ITR filing procedure.
 COVID-19 crisis is an opportunity to redefine tax policy and law
By Thomas T. Rucks
The Covid 19 crisis is an opportunity to redefine tax policy and law. A calibrated approach to balance welfare economics with a vision to pioneer economic activity and national growth is needed.
  GST & Companies Act way Forward
By Thomas T. Rucks
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 M. 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 M. 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.
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Students   RSS Feeds
 Certificate Course on Public Finance & Government Accounting 9th Online Batch (Morning)
By Sandy Mash
The Committee on Public & Government Financial Management of ICAI is pleased to announce the 9th online batch of Certificate Course on Public Finance & Government Accounting commencing from 14th March, 2021 (on weekends only-Saturday & Sunday) as per the schedule given herein below.
 1st Online Batch of Certificate Course on Derivatives from 6th February 2021
By Raul N Tiem
Online Certificate Course on Derivatives The Committee on Capital Market and Investors Protection is pleased to announce its 1 stOnline batch of Certificate Course on Derivatives as per below details
 Change of Examination Centre for January / February 2021.
By M. George
It is hereby informed that due to unavoidable circumstances, examination centre at Allahabad (Uttar Pradesh), as per details given below has been changed.
 Notification for Eligibility Test (ET) for Post Qualification Course on Information Systems Audit (ISA) on Saturday the 23rd January, 2021 from 11:00 AM to 01:30 PM
By Orion M.
This time the Eligibility Test will be held in online mode through DLH portal of ICAI (http://learning.icai.org) for which face recognition & SSP portal login is mandatory.
 Students registered under Intermediate IPC Old Syllabus can write their examinations up to May 2021 examination term: ICAI
By M. George
The Institute of Chartered Accountants of India (ICAI) announced that the Students registered under Intermediate IPC Old Syllabus can write their examinations up to May 2021 examination term.
 Frequently Asked Questions w.r.t May/November 2020 Examination
By Sandy Mash
Whether the student who had applied for May 2020 Exams be required to fill Examination Form For November 2020 afresh.
 3rd Online Batch of Certificate Course on Forex and Treasury Management from 22nd August 2020
By Andrew F Thomas
The Committee on Capital Market and Investors Protection is pleased to announce its 3rd Online batch of Certificate Course on Forex and Treasury Management as per below details
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New Forms   RSS Feeds
 Form 26AS tweaks make paying taxes easier and evasion harder. Here s how
 Here s how you can download Form 26AS New income tax website
 Check the revised instructions to fill ITR Form 3, 5, 6 and 7 Income Tax Return
By Andrew F Thomas
There have been several changes made by the central government in the tax structure in the previous 3 to 4 months to link the country's taxation system with other financial systems and making ITR filing easier.
 TDS mismatch in Form 26AS & Form 16? Ask employer to issue new Form 16 with correct details
By Thomas T. Rucks
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 Thomas T. Rucks
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 Moshe Pras
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 Orion M.
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.
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Tally Software   RSS Feeds
 How to Audit Using Tally Audit Features in TallyPrime?
By M. George
Audit is an important function of any business organization, it denotes that the business has True and Fair transactions during the year. TallyPrime has an inbuilt feature- Tally Audit which enables the auditor to perform an audit or track changes that affect the integrity of a transaction, such as changes made to Date, Ledger Masters and Amounts in the Voucher are reflected in the Tally Audit Listings.
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Professional Updates   RSS Feeds
 Exposure Drafts of Standards on Auditing for Limited Liability Partnerships
By Henry Richards
Section 34A of the Limited Liability Partnership Act, 2008 prescribes that the Central Government may, in consultation with the National Financial Reporting Authority constituted under section 132 of the Companies Act, 2013
 One-Time Window for MEF 2023-24
By Thomas T. Rucks
The Institute is in receipt of representations from members who could not fill the MEF 2023-24 due to various reasons. It has been decided to give one-time window from 20th November to 22nd November, 2023 for three days to fill or complete the MEF application for the year 2023-24.
  Empanelment of Chartered Accountant firms/LLP by Office of C&AG from the empanelment year 2024-2025
By Henry Richards
The office of C&AG has been giving cognizance to location of the Head office as well as Branch Offices of the firms for the purpose of allotment of audits of Government Companies and its units located at various locations.
 Invitation for contribution to Question Bank in respect of Self-paced Online Module Examinations (Set-A & Set-B)
By Moshe Pras
The New Scheme of Education for Chartered Accountancy Couse has been launched on 1st July 2023 and the first examination under New Scheme will be held in the month of May-2024.
 Empanelment of Chartered Accountant firms/LLP by Office of C&AG from the empanelment year 2024-2025
By M. George
The office of C&AG has been giving cognizance to location of the Head office as well as Branch Offices of the firms for the purpose of allotment of audits of Government Companies and its units located at various locations.
 Archiving of UDINs
By Moshe Pras
It has been decided to archive UDINs after one year of their generation to ease off the load on the servers. Implementation of archiving UDINs has been scheduled in the phased manner beginning for the year 2019 in the first phase, followed for the years 2020, 2021, 2022 and 2023, thereafter.
 Sensitization of Companies to abide the provisions of Section 90 of the Companies Act, 2013 read with Rules thereunder relating to Significant Beneficial Ownership
By Sandy Mash
This is with reference to the initiative of the Ministry of Corporate Affairs (MCA) to create wider awareness of provisions relating to Significant Beneficial Ownership provided in the section 90 of the Companies Act, 2013 read with Companies (Significant Beneficial Owners) Rules, 2018, for ensuring compliance with the same.
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From the Courts   RSS Feeds
 Inordinate delay in income tax appeal hearings
 Income Tax leviable on Tuition Fee in the Year of Rendering of Services: ITAT
By Jude Marg
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax is leviable on the amount of tuition fee in the year when the corresponding services are made.
 Supreme Court invoked its power under Article 142 of Constitution to validate notices issued under section 148 as notices issued under section 148A. However the same shall be subject to amended provisions of section 149.
 ITAT refuses to stay tax demand on former owner of Raw Pressery brand
By Orion M.
An income tax appellate panel has refused to grant a stay on Rs 123 crore of taxes demanded by the authorities on share transfer by a fruit juice start-up to Mauritius based entities and actress Jacqueline Fernandes for huge premiums.
 Bombay HC sets aside rejection of refund claims by GST authorities
By Thomas T. Rucks
Claim had been rejected as it was filed after 2 yrs; Court sets rejection aside as authorities had not considered earlier SC relaxation on time limit due to Covid
 [Income Tax Act] Faceless Assessment Scheme does not take away right to personal hearing: Delhi High Court
 Rajasthan High Court directs GST Authority to Unblock Input Tax Credit availed in Electronic Credit Ledger
By Henry Richards
The Rajasthan High Court in the case of Vinayak Plylam Marketing Vs Superintendent, Central Goods, and Service Tax and Ors. directed the GST Authority to forthwith unblock the Input Tax Credit availed in the Electronic Credit Ledger by the Petitioner since, the statutory time limits mentioned in Rule 86A of the Central Goods and Services Tax Rules, 2017 has expired.
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Auditing   RSS Feeds
 NFRA issues Draft Procedure for Submission of Audit Files
By Andrew F Thomas
The National Financial Reporting Authority (NFRA) on Tuesday issued a notice of draft Procedure for Submission of Audit Files to NFRA.
 Auditors barred from putting a value on companies they are auditing
By Raul N Tiem
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 Jude Marg
Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
By Raul N Tiem
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 Henry Richards
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 Moshe Pras
Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
By Thomas T. Rucks
Standard on Internal Audit (SIA) 13, Enterprise Risk Management
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Latest Circulars   RSS Feeds
  Auction of Government of India Dated Securities
 Extension of validity of Directions under Section 35A read with section 56 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) HCBL Co-operative Bank Ltd Lucknow (U.P.)
By Orion M.
The Reserve Bank of India, vide Directive LKO.DOS.SED.No.S842/10-12-133/2022-2023 dated February 23, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949
 Winning in Uncertain Times: The Indian Experience (Inaugural Speech by Shri Shaktikanta Das, Governor, Reserve Bank of India - November 22, 2023 - Delivered at the FIBAC 2023 Conference Organised Jointly by FICCI and IBA at Mumbai)
By Raul N Tiem
I am thankful to FICCI and IBA for once again inviting me to this FIBAC Conference.1 As momentous changes are taking place in the financial and business landscape, events like this provide an opportunity to industry leaders, bankers and policymakers to deliberate on issues of our times and crystallise our thoughts for future guidance.
 International Trade Settlement in Indian Rupees (INR) Opening of additional Current Account for exports proceeds
 Regulatory measures towards consumer credit and bank credit to NBFCs
By Orion M.
As per extant instructions applicable to commercial banks1, consumer credit attracts a risk weight of 100%. On a review, it has been decided to increase the risk weights in respect of consumer credit exposure of commercial banks (outstanding as well as new), including personal loans, but excluding housing loans, education loans, vehicle loans and loans secured by gold and gold jewellery, by 25 percentage points to 125%.
 Emerging India: A Land of Stability and Opportunities (Keynote Speech by Shri Shaktikanta Das, Governor, Reserve Bank of India - November 9, 2023 - Delivered at the Symposium on Indian Economy 2023 organised by Institute of Indian Economic Studies at the Tokyo Chamber of Commerce and Industry, Tokyo, Japan)
By Thomas T. Rucks
I am delighted to participate in this symposium on Indian Economy organised by the Institute of Indian Economic Studies (IIES), Tokyo. I understand this event is being organised by the IIES after a gap of 3 years due to the intervening period of the COVID-19 pandemic.
 Auction of Government of India Dated Securities Nov 06, 2023
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Forex   RSS Feeds
 Perils of an ad hoc forex policy
By Orion M.
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 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 Jude Marg
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 Orion M.
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 M. 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 Orion M.
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 Sandy Mash
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
 Mere Securing a House on Rent in USA is not conclusive fact that Assessee is US Resident to Allow DTAA Benefit: ITAT
By M. George
The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) held that mere securing a house on rent in the USA is not the conclusive fact that the assessee is a US resident to allow DTAA benefit.
 20 LPA Opening Hiring Qualified CA For Assurance Manager Profile
By M. George
Experince: 3 - 8 years, Salary: 10,00,000 - 20,00,000 P.A., Functional Area: Finance & Accounting
 Non-Filing of Income Tax Return amounts to Escapement of Income: ITAT upholds Reassessment u/s 147
By Sandy Mash
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has recently, in an appeal filed before it, while upholding the reassessment under section 147 of the Income Tax Act, 1961, held that non filing of income tax return amounts to escapement of income.
 Non Appreciation of facts in true perspective: ITAT sets aside Revision Order
By Sandy Mash
The Income Tax Appellate Tribunal (ITAT), Kolkata bench consisting of Rajpal Yadav, Vice-President and Rajesh Kumar, Accountant Member held that there was no appreciation of facts in true perspective and thereby set aside the revision order.
 No Evidence of Tax Evasion by showing Fictitious or False Transactions: ITAT deletes Addition of Expenditure u/s 40A(3)
By Thomas T. Rucks
The Income Tax Appellate Tribunal (ITAT), Patna Bench has held that no evidence of tax evasion by showing fictitious or false transactions and deleted the addition of expenditure under section 40A(3).
 Earning Interest Income from Inter-Corporate Deposit is Business Income: ITAT
By M. George
The Income Tax Appellate Tribunal (ITAT), Kolkata bench held that earning interest income from Inter-corporate Deposit is business income.
 Income Tax Penalty u/s 271E cannot be levied in the absence of Regular Assessment: ITAT
By Andrew F Thomas
The Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has held that the income tax penalty under section 271E of the Income Tax Act, 1961 cannot be levied in the absence of a regular assessment against the assessee.
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Finance Bills   RSS Feeds
 The Companies (Removal Of Difficulties) Seventh Order - dated 4th Sept 2014 New
By M. 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 Orion M.
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 Orion M.
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 Thomas T. Rucks
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 Jude Marg
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 M. 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 Moshe Pras
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
 80 LPA Opening Head Internal Audit
By Jude Marg
Experience: 15 - 20 years, Salary: 50-80 Lacs P.A., Department: Finance & Accounting
 25 LPA Opening Vice President - Finance & Accounts
By Moshe Pras
Experience: 8 - 12 years, Salary: 22.5-25 Lacs P.A., Department: Finance & Accounting
 50 LPA Opening GM F&A - Qualified CA Near Bellary
By Jude Marg
Experience: 18 - 22 years, Salary: 45-50 Lacs P.A., Department: Finance & Accounting
 30 LPA Opening AGM A&F from manufacturing only(CA ONLY)
By Raul N Tiem
Experience: 8 - 13 years, Salary: 25-30 Lacs P.A., Department: Finance & Accounting
 22 LPA Opening Assitant/DY Manager- Direct TAX & Compliance
By Sandy Mash
Experience: 5 - 7 years, Salary: 12-22 Lacs P.A., Industry Type: IT Services & Consulting
 Vice President Finance & Accounting
By Henry Richards
Experience: 15 - 18 years, Salary: 35-50 Lacs P.A., Department: Finance & Accounting
 30 LPA Opening Senior Associate - Asset Management
By M. George
Experience: 8 - 13 years, Salary: 16-31 Lacs P.A., Role: Asset Manager
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Markets   RSS Feeds
 Market Top Losers 18/5/2023
By Sandy Mash
Market Top Losers 18/5/2023
 Market Top Gainers 18/5/2023
By Andrew F Thomas
Market Top Gainers 18/5/2023
 Top Ranked Mutual Funds 18/5/2023
By Orion M.
Top Ranked Mutual Funds 18/5/2023
 Market Top Losers 4/5/2023
By Sandy Mash
Market Top Losers 4/5/2023
 Market Top Gainers 4/5/2023
By Andrew F Thomas
Market Top Gainers 4/5/2023
 Top Ranked Mutual Funds 4/5/2023
By Orion M.
Top Ranked Mutual Funds 4/5/2023
 Market Top Losers 19/04/2023
By Jude Marg
Market Top Losers 19/04/2023
More »
Direct Tax   RSS Feeds
 Average tax return processing time cut to 10 days: CBDT
By Orion M.
The average time taken to process income tax returns after its verification by the tax payer has been reduced to 10 days, Central Board of Direct Taxes (CBDT) said in a statement on Tuesday.
 7 types of Income Tax Notice ITR filers may receive for AY 2023-24
By Jude Marg
Income Tax Notice Types for AY 2023-24: If you have filed Income Tax Return for AY 2023-24, you may receive an Income Tax intimation or notice for several reasons.
 ITR filing: Do these advance preparations before filing your income tax return
By Moshe Pras
The due date for filing your ITR 31 st July 2023 is fast approaching and it is advisable to prepare well in advance so that filing of your ITR goes on correctly and smoothly. Let us discuss the groundwork which you should do before you actually sit down to file your ITR.
 What are the strategies to maximize tax refunds after submitting an income tax return (ITR)?
By M. George
Taxpayers must submit an income tax return to the government, commonly once a year, in order to disclose their earnings, deductions, and tax liabilities. Filing ITR allows you to calculate the amount of tax due to the government or the prospective tax refund from tax-saving investments. After filing your income tax return, you can employ the following tactics to maximise your tax returns, according to different tax experts.
 ITR filing: Tax rules on income from house property that your should know
By Henry Richards
e-Pay Tax on e-filing portal: The Income Tax Department recently enabled the e-Pay tax service for RBL Bank with over-the-counter and net banking options. Along with RBL Bank, there are 24 banks that have been cleared by the tax department for tax payments at the e-Pay tax service available on the e-Filing portal.
 CBDT likely to issue rules on angel tax next week
By Henry Richards
The Finance Ministry and the Department for Promotion of Industry and Internal Trade (DPIIT) were discussing guidelines to provide clarity on angel tax
 Pension Taxation: Everything you need to know for ITR filing
By Moshe Pras
Under the previous taxation system, senior citizens who earn up to Rs. 3 lakh per year are exempted to pay income tax. However, the new regime stipulates that senior citizens will only be exempt from income tax if their annual income is less than Rs. 2.5 lakh.
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Tenders   RSS Feeds
 Mahanagar Telephone Nigam Limited, Lodhi Road, New Delhi
By Jude Marg
The tender shall be submitted through Central Public Procurement Portal website https://eprocure.gov.in/eprocure/app developed by National Informatics Centre (NIC), Ministry of Electronics & Information Technology, GOI. Your offer complete in all respects as per enclosed documents must be submitted as per schedule given under Section-I.
 Raipur Smart City Ltd., Raipur (C.G.)
By Raul N Tiem
That the particulars given are complete and correct and that if any of the statements made or the information so furnished in the application form is later found incorrect or false or there has been suppression of material information, the firm would not only stand
 Andhra Pradesh Capital Region Development Authority, Vijayawada, A.P.
 Odisha Power Generation Corporation Limited, Bhubaneswar, Odisha
 Corrigendum Syama Prasad Mookerjee Port, Kolkata, West Bengal
By Thomas T. Rucks
Chartered Accountants / Cost Accountants for Internal Audit as per scope of work for a period of 3 years. In accordance with the General Conditions of Contract, Special Conditions of contract, General Instructions to Bidder etc.
 Jharkhand Bijli Vitran Nigam Limited, Ranchi, Jharkhand
By M. George
Jharkhand Bijli Vitran Nigam Limited (JBVNL), a wholly owned subsidiary of Jharkhand Urja Vikas Nigam Limited (JUVNL), hereinafter referred to as Company is engaged in Distribution of power in the state of Jharkhand. JBVNL has its Head Office (HO) at Ranchi (Jharkhand)
 Assam Health Infrastructure Development and Management Society, Guwahati, Assam
By Henry Richards
Internal audit is an important tool of management to keep watch and exercise control over activities of the Organization. With the specialized knowledge of professional firms of Chartered Accountants, AHIDM Society endeavors to significantly improve not only finance & accounting related performance but also exercise management control over non- financial activities with the help of efficient Internal Audit mechanism.
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Transfer Pricing   RSS Feeds
 I T department keeps tolerance range for transfer pricing unchanged
By Moshe Pras
In a disappointment to businesses reeling from the Covid impact, the income tax department has kept the tolerance range for transfer pricing unchanged for 2019 20.
 India retains transfer pricing tolerance range for 2019 20
 PCIT rightly directed the Bank of India s case to Transfer Pricing Officer for determining ALP ITAT
 Key Highlights Of The 2nd Edition Of KSA Transfer Pricing Guidelines
By Henry Richards
General Authority of Zakat and Tax (GAZT) in the Kingdom of Saudi Arabia (KSA) released final Transfer Pricing Bylaws (TP Bylaws) in February 2019. Subsequently, in March 2019, GAZT issued the First Edition of Transfer Pricing Guidelines that provide insights and guidance and represents GAZT's views on the application of Transfer Pricing Bylaws.
 ITAT deletes Penalty since Assessee applied Transfer Pricing Provisions with Good faith and Due Diligence
By Raul N Tiem
In a major relief to Tianjin Tianshi India Pvt. Ltd, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied if the transfer pricing provisions under section 92C was handled by the assessee in due diligence without any mala fide intentions.
 Change in transfer pricing regulations to help MNCs
By Jude Marg
The Union budget 2020-21 has proposed to amend the Section 92CB of the Income Tax Act that empowers the Central Board of Direct Taxes to frame safe harbour rules for determination of the arm’s length price. The government has also sought to widen the ambit of Dispute Resolution Panel (DRP).
 National High Speed Rail Corporation Limited, New Delhi, Delhi
By Orion M.
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.
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Customs and Excise   RSS Feeds
 Notification No. 26/2021 Customs Ministry Of Finance
By Orion M.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table below, to the extent specified in the corresponding entries in column (3) of the said Table
 Delhi Customs issues Covid-19 Facilitation Measures: Relaxation in Procedure for Inbonding of Cargo Import under Warehouse Bill of Entry
By Moshe Pras
The Delhi Customs, on Wednesday, issued relaxation in the procedure for Inbonding of Cargo import under Warehouse Bill of Entry as one of the COVID-19 facilitation measures.
 Notification No. 32/2020 CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
By Raul N Tiem
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 amendment in the Notification of the Central Board of Indirect Taxes and Customs No.27/2020-CUSTOMS (N.T.), dated 19thMarch, 2020 with effect from 27th March, 2020, namely: -
  Notification No. 07/2020 Central Board of Indirect Taxes and Customs
By Moshe Pras
­In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council,
 Notification No. 07/2020 Central Board of Indirect Taxes and Customs
By Sandy Mash
­In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council,
 Notification No. 01/2020 Central Board of Indirect Taxes and Customs
By Raul N Tiem
In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day of January, 2020, as the date on which the provisions of section 114 of the Finance (No. 2) Act, 2019 (23 of 2019) shall come into force.
  Notification No.91/2019 Central Board Of Indirect Taxes And Customs
By Sandy Mash
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.88/2019-CUSTOMS (N.T.), dated 5th December, 2019
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Mergers and Acquisitions   RSS Feeds
 Govt may further sweeten Air India offer
By Jude Marg
The government may ease some of the conditions for potential bidders of Air India in a renewed effort to privatize the loss-making national carrier, which is crucial to achieving its ambitious divestment goal for this fiscal.
 How India is becoming an unlikely Asian hotspot for mergers & acquisitions
By Moshe Pras
Thanks largely to $15 billion of investments in Jio, India accounts for more than 12% of announced deals in the Asia Pacific region so far this year.
 Notification No. 05/2020-Customs (ADD) Ministry Of Finance
By Andrew F Thomas
Whereas, in the matter of import of `Chlorinated Polyvinyl Chloride Resin (CPVC)-whether or not further processed into compound' (hereinafter referred to as the subject goods), falling under heading 3904 of the First Schedule to the Customs Tariff Act, 1975
 Deals of the day-Mergers and acquisitions March 6, 2020
By Orion M.
India laid out a rescue plan for Yes Bank under which State Bank of India will take a 49% stake in the troubled lender, which is struggling with bad loans.
 Deals of the day-Mergers and acquisitions March 2, 2020
By Moshe Pras
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday
 Mint Investment Summit - M&A in India: Challenges and opportunities
By Thomas T. Rucks
Top business minds will from different companies will come together to discuss the challenges and the opportunities for mergers and acquisitions in India. The panelists, to discuss and debate the subject of M&A in India: Challenges and opportunities,
 Record Year 2019: Fintech Deals, Mergers and Acquisitions Study
By Thomas T. Rucks
019 was the most active year for fintech financing, mergers and acquisitions (M&A), and initial public offerings (IPOs), according to a new report by Financial Technology (FT) Partners.
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Indirect Tax   RSS Feeds
 How to reduce tax on rent from vacant houses
By Sandy Mash
Rent earned from real estate property, both residential and commercial, is added to the total income and taxed at applicable tax slab. As per Income Tax (I-T) laws, a taxpayer is required to pay tax on the rent actually earned on a let out property and also on notional rent applicable to properties that are not let out but cannot be classified as self-occupied.
 Make sure to claim these tax deductions
By M. George
Here are four tax deductions that a taxpayer may forget while filing returns using pre-filled ITR forms: Exemption on house rent without HRA, Deduction on savings account interest, Deduction on medical bills of uninsured parents, Deduction on donations.
 Investment tips for those opting for new tax regime
By Henry Richards
The nationwide lockdown over the COVID-19 pandemic shouldn’t ideally distract you from the fact that we are in April that also marks the beginning of the new Financial Year2020-21. In fact, you should utilise this time to plan your tax-saving measures for the current financial year.
 Indirect tax dept issues notices to companies over late input credit claim under GST frame
By M. George
The indirect tax department has issued notices to thousands of companies that had claimed late input tax credit under GST framework and thereby asked them to reverse the transaction. These companies had claimed the input tax credit for fiscal 2018 and 2019 after missing the September deadline.
 E-generated document required for indirect tax notices
By Jude Marg
In a Frequently Asked Questions (FAQs) issued by Institute of Chartered Accountants of India ( ICAI ) Unique Document Identification Number (UDIN) said that, Chartered Accountants ( CA ) are not authorised to certify Income Tax Return (ITR) as True copy.
 FinMin seeks industry inputs on direct, indirect tax changes
By M. George
The finance ministry for the first time has sought suggestions on changes in direct and indirect tax rates from the industry. This comes at a time when a revenue shortfall and consumption slowdown are threatening to upset the government’s finances.
 Govt gives businesses four months to settle indirect tax disputes
By Sandy Mash
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.
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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 Moshe Pras
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 Moshe Pras
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 Thomas T. Rucks
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 Henry Richards
Toys, games and sports requisites; parts and accessories thereof
 Customs Tariff 2009-10 - PART-II - Chapter 94 - Furniture; bedding, mattresses, mattress supports
By Moshe Pras
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 Orion M.
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 Jude Marg
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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