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 No more tax filing hassles with digital Form 16 Know how it works
By Raul N Tiem
The electronic version of Form 16 is generated directly from the TRACES portal by employers --- guaranteeing consistent and accurate data about your salary, deductions and TDS.
| ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?
By Thomas T. Rucks
Existing ITR laws provide relief to certain groups residing in various parts of India as well as people earning below specified thresholds.
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| Full List Of Trump's Reciprocal Tariffs Announced Wednesday
By Sandy Mash
On April 2, 2025, former U.S. President Donald Trump announced a sweeping 26% tariff on all imports from India. This move is part of his broader "reciprocal tariffs" policy aimed at counteracting what he claims are unfair trade practices by various nations. India's high tariffs on American goods and non-tariff barriers were cited as the primary reasons for this decision. Below is a detailed breakdown of the affected products and potential implications for Indian industries.
| Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025
By Andrew F Thomas
By understanding the various tax-saving options available under the Income Tax Act, 1961, employees can maximize their deductions, secure their financial future, and ensure compliance with tax regulations. One of the most popular ways to save tax is under Section 80C of the Income Tax Act for old tax regime taxpayers. This section allows you to claim deductions of up to Rs.1.5 lakh per financial year on various investments. Here are 5 popular tax saving options.
| | 5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025 | March 15 is deadline for last advance tax installment: Know if you must pay
By Moshe Pras
We often hear about businesspeople or movie stars paying advance taxes amounting to crores of rupees. The deadline for paying advance tax for Financial Year 2024-25 is March 15. According to the law, individuals with a total tax liability of more than Rs 10,000 for the year must pay advance tax accordingly.
| 5 small savings options that save tax under Section 80C
By Sandy Mash
Post Office Savings Schemes (POSS) are one of the safest investment options in India, backed by the government. Some of these schemes provide tax benefits under Section 80C of the Income Tax Act, 1961, allowing investors to claim deductions of up to Rs 1.5 lakh per financial year. These schemes are ideal for individuals seeking low-risk investments with guaranteed returns while saving on taxes.
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Textile units under GST lens for mis-classifying services
By Raul N Tiem
Central Goods and Services Tax (CGST) officials in the recent months have investigated over two dozen textile manufacturing companies across the country for mis-classifying textile processing activities and subsequently paying lesser tax.
| Income Tax Department reduces time allowed to apply for old income tax refunds; check the new time limit
By Orion M.
The Central Board of Direct Taxes (CBDT) recently issued a circular on the application for condonation of delay in filing ITR. Income taxpayers often file this application requesting the tax department to condone delay in filing/revising ITR in order to claim income tax refund and carry forward of losses and set off. This condonation of delay application allows them to file an income tax return (ITR) to claim past tax refund and/or claim carry-forward of loss and set-off in cases where the due date for filing tax return is long past.
| GSTR 2B input tax issue: A new advisory by GSTN on how to fix it for FY 2023-24
By Henry Richards
Goods and services tax (GST): The GSTN in an advisory said that if you are facing the issue of non-generation of GSTR 2B which is a statement of input tax credit you can avail then the following might be the reason. ​Chartered Accountant Akhil Pachori says that buyers will not be able to claim input tax credit for pending invoices of FY 2023-24 if the supplier has not filed GSTR 1.
| New process to pay tax demand under GST amnesty scheme clarified by GSTN
By Moshe Pras
GSTN has issued an advisory today clarifying how a person can pay the tax demand under the GST amnesty scheme.
| Should You File ITR 4 Sugam? Check Eligibility For FY 2023-24 Income Tax Return
By Raul N Tiem
Income Tax Return Form Filing: Income taxpayers are now able to initiate the filing process for their Income Tax Returns (ITR) for the financial year 2023-24 (or assessment year 2024-25), as the Income Tax Department has activated online filing options for ITR-1, ITR-2, and ITR-4. These forms cater to individuals, professionals, and small businesses.
| State government extends due date for filing GST returns for November
By M. George
The Tamil Nadu government on Wednesday announced extension of due date for filing GST returns for November, as a relief measure to those who were severely impacted by the Cyclone Michaung.
| 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.
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Won case against income tax department but still waiting for benefit? No more delay after an update in ITR portal
By Orion M.
Now you can expect faster benefits from a favourable order following the judgement in an income tax case. An update to the e-filing ITR portal on February 6, 2025, made this possible. The e-filing ITR portal will now allow the online filing of order giving effect (OGE) requests.
| Income Tax Department regrets issuing erroneous notices to taxpayers: Know the details
By Thomas T. Rucks
The Income Tax Department has recalled the defective ITR notices sent to many taxpayers who have correctly filed their income tax returns (ITR). Experts are surprised the tax department has accepted its own mistake in sending the wrong tax notices to the taxpayers. While it's a relief for taxpayers, the tax department sending defective notices is also concerning. There might be some taxpayers who filed a revised ITR against the tax notice sent by the tax department. This is because not everyone has the time, resources or desire to take up a battle with the government.
| Income Tax Return: Miss THIS ITR filing deadline and you will be fined Rs 10000
By Jude Marg
File your ITR by Dec 31 to avoid a Rs 10,000 fine; missed July 31 deadline? Pay Rs 5,000 and submit now!
| | Tax contribution of petroleum sector set to drop rapidly in FY 2024-25 | Missed reporting foreign assets in ITR? File revised return to avoid Rs 10 lakh penalty
By Andrew F Thomas
Missed declaring foreign assets or income in your ITR for AY 2024-25? File a revised return by December 31, 2024, to avoid a penalty of up to Rs 10 lakh under the Black Money Act.
| Tax regime shift: Is filing ITR under old regime still valid after default new regime?
By Andrew F Thomas
Effective AY25, the new tax regime has been made the default regime, and the old tax regime has been made optional.
| Income Tax Department Targets Bogus Refund Claims, Issues Notices To Taxpayers
By Jude Marg
The Income Tax Department has issued notices to taxpayers for the 2021-22 and 2022-23 assessment years, targeting fraudulent refund claims involving bogus expenses and medical deductions.
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Do you need Form 26AS? Know how to download & why it is mandatory for you
By Raul N Tiem
ITR Filing 2024: Form 26AS is the total summary of income, taxes deducted at source (TDS), taxes paid, and other related information of the individual or entity.
| | 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.
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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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Draft Panel for Appointment/ Re-appointment of Statutory Auditors of State Co-operative Banks (Stccbs) and Central Co-operative Banks (Ccbs) for the Year 2025-26.
By Sandy Mash
We are pleased to inform that the Draft Panel for Appointment/Re-appointment of Statutory Auditors of State Co-operative Banks (StCCBs) and Central Co-operative Banks (CCBs) for the year 2025-26 prepared on the basis of applicable guidelines, is hosted at http://meficai.org. Please note that the MEF panel 2024-25 has been taken as the base panel for preparation of this draft panel.
| | Commencement of Live Virtual Classes for the students of CA. Final course appearing in May 2026, September 2026 and January 2027 Examinations. | |
| Information Systems Audit - Assessment Test (ISA - AT), July 2025
By Jude Marg
Members are hereby informed that the next Information Systems Audit (ISA) Course Assessment Test (3.0 Syllabus) which is open to the members of the Institute will be held on 12th July 2025 (Saturday) from 9 AM to 1 PM (IST) through Computer Based Test (CBT) Mode only at the following cities provided that sufficient number of candidates offer themselves to appear there from.
| Advanced ICITSS -Adv. Information Technology Test Computer Based Mode (CBT) Schedule May, Jun, Jul, Sep, Oct, and Nov 2025
By Moshe Pras
The computer-based tests will be held at the following cities provided sufficient number of candidates offer themselves to appear in the test, from the said cities. ICAI reserves the right to cancel the centre and allot the candidates to any centre
| Auditing and Assurance Standards Board Online Panel of Experts for addressing Bank Branch Audit related queries
By M. George
The bank audit season is around the corner and the Reserve Bank of India (RBI) has made several significant announcements requiring the attention of Statutory Branch Auditors (SBAs). These include revised guidelines on Basel III capital regulations, prudential norms for income recognition, asset classification, and provisioning related to advances, as well as master directions on external commercial borrowings, trade credits and structured obligations, Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR); transfer of loan exposures; and presentation & disclosures of financial statements of banks.
| Results of the Chartered Accountants Intermediate and Foundation Examinations held in January 2025 declared.
By Andrew F Thomas
Results of the Chartered Accountants Intermediate and Foundation Examinations held in January 2025 declared.
| Invitation for contribution to Question Bank in respect of Self-paced Online Module Examinations (Set-A, B, C & D)
By Sandy Mash
The New Scheme of Education for Chartered Accountancy Couse has been launched on 1st July 2023 and the first examination under New Scheme was held in the month of May 2024. The candidates who are going to appear in the Final Examination under the New Scheme are required to qualify for Self-Paced Online Module Examinations. Self-Paced Module Test (SPMT) is a Computer Based Online Test having 4 Modules namely Set A, B, C and D of 100 Marks each.
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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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Auction of State Government Securities Feb 23, 2024
By Andrew F Thomas
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on February 27, 2024 (Tuesday).
| | RBI imposes monetary penalty on The Adinath Co-Operative Bank Limited, Dist. Surat, Gujarat | The Relevance of SEACEN in a Turbulent World (Closing remarks by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India - February 15, 2024 - at the 59th SEACEN Governors' Conference
By Moshe Pras
Honourable Governors, Deputy Governors, Managing Directors, delegations from SEACEN central banks, distinguished experts, and panellists, Dr. Mangal Goswami and the SEACEN team, and my colleagues from the Reserve Bank of India.
| Business restrictions imposed on Paytm Payments Bank Limited vide Press Releases dated January 31 and February 16, 2024
By Sandy Mash
I have a savings or current account with Paytm Payments Bank. Can I continue to withdraw money from this account after March 15, 2024? Can I continue to use my debit card issued by Paytm Payments Bank?
| 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 Andrew F Thomas
The Reserve Bank of India, vide Directive: LKO.DOS.SED.No.S842/10.12.133/2022-23 dated February 23, 2023 issued under section 35A read with section 56 of the Banking Regulation Act, 1949 (AACS), had placed the HCBL Co-operative Bank Ltd., Lucknow (U.P) under Directions from the close of business on February 24, 2023.
| Business restrictions imposed on Paytm Payments Bank Limited vide Press Releases dated January 31 and February 16, 2024
By Moshe Pras
I have a savings or current account with Paytm Payments Bank. Can I continue to withdraw money from this account after March 15, 2024? Can I continue to use my debit card issued by Paytm Payments Bank?
| Directions under Section 35 A read with section 56 of the Banking Regulation Act, 1949 Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District Extension of Period
By Thomas T. Rucks
The Reserve Bank of India issued Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 to Shimsha Sahakara Bank Niyamitha, Maddur, Mandya District vide Directive BLR.DOS.SSMS.No.S2174/12-08-295/2022-23 dated February 23, 2023 for a period of six months up to August 24, 2023
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Faulty Income Tax Assessment: ITAT Quashes Addition and Penalty against 82 Years Old Senior Citizen
By Henry Richards
Top Stories Faulty Income Tax Assessment: ITAT Quashes Addition and Penalty against 82 Years Old Senior Citizen [Read Order] ITAT quashes tax addition and penalty against 82-year-old senior citizen citing faulty assessment and health-related non-compliance.
| Amrit Bottlers Pvt. Ltd. Kolkata vs Department Of Income Tax
By Raul N Tiem
When this appeal came up for hearing, it was noticed that the tax effect involved in this appeal is less than Rs.3 lacs. It was in this backdrop that the ld.
| ITAT ruling: Cryptocurrencies now recognized as capital assets for taxation
By M. George
In a landmark ruling, the Income Tax Appellate Tribunal (ITAT) in Jodhpur has provided clarity on the tax treatment of cryptocurrencies in India. The decision, which recognizes cryptocurrencies as capital assets, impacts how gains from cryptocurrency sales are taxed, especially for transactions that occurred before the government introduced specific regulations for Virtual Digital Assets (VDAs) in 2022.
| ITAT upholds Possession Date for Capital Gains Tax Exemption
By Jude Marg
In this article, we delve into the joint appeal case filed by Sunil Amritlal Shah and Rita Sunil Shah (appellants) against the Income Tax Officer (ITO) for the Assessment Year (AY) 2011-12. The crux of the matter lies in interpreting Section 54 of the Income Tax Act, 1961 (ITA), specifically regarding the crucial date for claiming tax exemption on capital gains from selling residential property.
| ITAT deletes addition of Cash Deposit against Opening Balance during demonetization
By Henry Richards
The assessee filed her return of income for the assessment year 2017-18, declaring a total income of Rs. 4,10,500/-. The case was selected for scrutiny under the Computer Assisted Scrutiny System (CASS) under section 143(3) of the Income Tax Act. The scrutiny primarily focused on the cash deposits made during the demonetization period.
| 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
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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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35 LPA Opening Assistant Manager - Business Finance
By Orion M.
Experience: 3 - 6 years, Salary: 15-20 Lacs P.A., Department: Finance & Accounting
| 30 LPA DGM Plant Finance Controller
By Jude Marg
Experience: 10 - 17 years, Salary: 40-45 Lacs P.A., Department: Finance & Accounting
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| 30 LPA Opening Head Taxation
By M. George
Experience: 10 - 20 years, Salary: 20-30 Lacs P.A., Department: Finance & Accounting
| 1 Cr LPA Opening CEO / COO - Distillery , Alcohol
By Jude Marg
Experience: 15 - 24 years, Salary: 65 Lacs-1 Cr P.A., Department: Strategic & Top Management
| 35 LPA Opening Sr. Manager - Indirect Tax
By Raul N Tiem
Experience: 7 - 12 years, Salary: 20-30 Lacs P.A., Department: Finance & Accounting
| 35 LPA Opening sr. manager, cost accounting
By M. George
Experience: 7 - 12 years, Salary: 30-45 Lacs P.A., Department: Finance & Accounting
| 35 Finance Manager (Qualified CA)
By Henry Richards
Experience: 7 - 12 years, Salary: 25-35 Lacs P.A., Department: Finance & Accounting
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| | Direct Tax RSS Feeds |
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GSTR-3B deadline expired: File now to avoid input tax credit loss, GST registration cancellation
By Thomas T. Rucks
The deadline for filing GSTR-3B was November 20, 2024, for all GST registered taxpayers except in the state of Maharashtra and Jharkhand where the deadline is November 21, 2024. GSTR-3B is a simplified return that is essentially a summary of outward supplies, inward supplies subject to reverse charge mechanism (RCM), calculation of eligible input tax credit (ITC) and others.
| ITR Filing: Income tax department shortens time limit for condonation of delay What it means for taxpayers
By Jude Marg
The CBDT has released a new circular on condoning delays in filing ITR, replacing previous guidelines, effectiveOctober 1, 2024.
| CBDT launches campaign to intimate taxpayers on undeclared foreign assets in ITR
By Sandy Mash
The purpose is to remind and guide those who may not have fully completed Schedule Foreign Assets in their submitted ITR for AY 2024-25, especially in cases involving high-value foreign assets
| ITR AY2024-25: CBDT launches campaign for taxpayers to report income from foreign sources
By Andrew F Thomas
Black money: Compliance with Schedule foreign assets and income from foreign sources is compulsory under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, which stipulates the disclosure of foreign assets and income.
| CBDT comes out with FAQs on Direct Tax Vivad se Viswas scheme 2024
By Jude Marg
The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, was announced in the Union Budget 2024-25 by the Union Finance Minister to resolve pending income tax disputes
| CBDT weighs overhaul of designations for income tax officials to secure better clarity
By Jude Marg
As part of the restructuring, the condonation of delay, a critical process that allows taxpayers to verify their Income Tax Return (ITR) or file it after the deadline, was also reviewed
| Direct tax-GDP ratio at millennial high in FY24
By Thomas T. Rucks
An interesting feature is the sharp decline in share of corporate tax in direct tax receipts in recent years, while personal income tax collections have risen at a much faster rate.
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| | Tenders RSS Feeds |
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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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| | Customs and Excise RSS Feeds |
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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 |
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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 |
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I-T Department extends belated, revised ITR filing deadline to Jan 15
By Sandy Mash
The Central Board of Direct Taxes (CBDT) on Tuesday extended the deadline for filing belated and revised Income Tax Returns (ITRs) for the Assessment Year (AY) 2024-25 to January 15.
| ITR Filing Deadline: Income Tax Department extends belated, revised ITR filing deadline to January 15, 2025 for these taxpayers
By Andrew F Thomas
The Income Tax Department has extended the revised and belated income tax return (ITR) filing deadline to January 15, 2025 for Indian resident individuals. Individuals who have already filed an ITR on or before the deadline, they can file a revised ITR if required.
| ITR deadline: Has income tax return deadline for audit cases been extended?
By Orion M.
The Income Tax Department has not extended the November 15, 2024 deadline for filing income tax returns (ITR) by taxpayers subject to audit and also for other designated ones, The Economic Times reported.
| When will ITR1 forms become available for tax filing. Check details
By Moshe Pras
The Income Tax department has made it easier for taxpayers to file their taxes for the financial year 2023-24 (FY24) by rolling out online forms ITR-1, ITR-2, and ITR-4, on its website.
| 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.
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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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