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Top Headlines   RSS Feeds
 Faceless Penalty (Amendment) Scheme, 2022
By Thomas T. Rucks
In exercise of the powers conferred by sub-section (2A) of section 274 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme to amend the Faceless Penalty Scheme, 2021
 Top Ranked Mutual Funds 23/05/2022
By Raul N Tiem
Top Ranked Mutual Funds 23/05/2022
 10 things you should know about Updated Income Tax Return filing New ITR-U
By Henry Richards
Updated ITR Filing 2022: The Income Tax Department recently announced a new form for filing of Updated Income Tax Returns.
 Five golden rules of tax planning to save money!
 Circular regarding use of functionality under section 206AB and 206CCA of the Income-tax Aci, 1961
By Moshe Pras
Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 196 1 (here inafter referred to as "the Act") whi ch took effect from I S! day of Jul y, 2021.
 Income tax (Fifteenth Amendment) Rules, 2022
By Henry Richards
In exercise of the powers conferred by clause (vii) of sub-section (1), sub-section(6A) of section 139A, and clause (ab) of Explanation to the said section read with section 295 of the Income-tax Act, 1961
  Income-tax (Fourteenth Amendment) Rules, 2022
By Henry Richards
In exercise of the powers conferred by clauses (i), (ii), (iii) and (iv) of first proviso to clause (23C) of section 10, ninth proviso to clause (23C) of section 10, sub-clauses (i) (ii), (iii), (iv), (v) and (vi) of clause (ac) of sub-section (1) of section 12A, sub-section (3) of section 12AB, first and fifth proviso to sub-section (1) subsection (1A) of section 35, clauses (i), (ii), (iii) and (iv) of first proviso to sub-section
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Continuing Prof. Edu.   RSS Feeds
 Discussion on Section 148/148A of Income Tax Act and CARO under Companies Act
 VCM on GST: Fake Invoices / Section 73 & 74 under GST
 LATEST DEVELOPMENT IN SECTION 148 AND FACELESS PROCEEDING PROCEDURES
 LATEST DEVELOPMENTS, KEY GST AMENDMENTS FROM JAN 22,BUDGET 2022, SUMMONS AND NOTICES UNDER GST
 Section 148 of Income Tax Act, 1961 & Issues in ITR-U
 Seminar on Professional Ethics, Code of Conduct and latest Developments in GST
  An overview of ESI, EPF and LWF Acts Registration and Implementation of the schemes thereunder & Online Filing of various Returns and Statements under ESI, EPF and LWF Acts
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GST - Goods and Services Tax   RSS Feeds
 GST Filing Deadline Extended After Portal Glitch; Know New Date to File Form GSTR-3B
By Raul N Tiem
GST Filing Deadline Extended: Following technical glitches faced by taxpayers on the GST (Goods and Services) portal, the government has decided to extend the deadline to file GST forms GSTR-2B and GSTR-3B to May 24.
 GST ITC Fraud: Delhi HC holds Debiting through Electronic ITC Ledger is valid Deposit to Fulfill Bail Condition
By M. George
The single bench of Delhi High Court presided by Ms. Justice Mukta Gupta in the issue of Input Tax Credit (ITC) fraud has held that debiting through electronic ITC ledger is a valid deposit to fulfill bail condition.
  95 LPA Opening General Manager Finance. Pref. from Ecommerce
By Andrew F Thomas
Experince: 10 - 20 years, Salary: 70,00,000 - 95,00,000 P.A., Functional Area: Strategic & Top Management
 Finance Ministers faces queries from students on GST, Income Tax relief to defence personnel
By Thomas T. Rucks
Finance Minister Nirmala Sitharaman on Sunday faced queries on Goods and Services Tax (GST) and Income Tax relief to Army personnel.
 Coming soon, a structural revamp of GST
By Sandy Mash
The Union government and states will implement a proposed structural revamp of the goods and services tax (GST) in phases, keeping in mind the impact tax rate changes can have on consumption, according to two officials.
  The Top Five GST Changes Budget 2022
By Andrew F Thomas
The much-awaited economic event of the year, Union Budget 2022 is finally out. Finance Minister Nirmala Sitharaman has given myriad reasons to dream about a better future. The budget speech and Economic Survey 2021 reflected the country's economic revival post the strenuous waves of Covid-19. Reduced deficits, improved foreign exchange reserves, impressive GDP growth gave the country and its polic
 CAIT urges Centre to exempt GST registration for e-commerce sales
By Henry Richards
The Confederation of All India Traders has urged Union Finance Minister Nirmala Sitharaman to waive mandatory GST registration for selling products through e-commerce platforms.
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General   RSS Feeds
 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?
 Tax rules for NRIs on sale of assets located in India
By Moshe Pras
Do non-resident Indians (NRIs) have to pay income tax in India? Yes, non-residents (both Indians and foreigners) have to pay tax in India if they earn an income through a source located in the country or if the first place of receipt of income is in India. The taxation of income from sale of assets in India will depend on the nature of the asset.
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
By Raul N Tiem
The North Delhi Municipal Corporation has extended the last date for availing the amnesty scheme for payment of property tax with 100 per cent waiver of both interest and penalty to March 31, officials said on Tuesday.
 Citizens must file THESE ITR related forms before due date Income Tax Returns
By Thomas T. Rucks
Taxpayers and chartered accountants (CAs) have till Tuesday to submit a few forms before the deadline. 3CEB, 3CA-3CD/3CB-3CD, and 29C are the three forms.
 If a senior citizen makes FD in name of his son, who will pay tax on interest?
By Sandy Mash
The transaction can either be treated as gift or a loan. In case you give this money as gift to him, there will not be any tax implications for you as gift received from specified relatives including parent are tax free in the hands of the recipient. The clubbing provisions will also not apply as your son is adult.
 Your queries (Income Tax): Use ITR Form 2 to file tax on capital gains on sale of property
By Henry Richards
The long-term capital gains arising on transfer of immovable property are taxed at 20%. To ascertain the amount of capital gains, indexed cost of acquisition, improvement and expenses incurred in connection with the transfer are to be deducted from the sale proceeds.
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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
 One Day Train the Trainer Programme for prospective trainers for "The Audit Quality Maturity Model v 1.0."
 Observations of the candidates on the question papers of CA examinations - May 2022
By Sandy Mash
It is hereby informed that candidates can bring to the notice of the Examination Department, their observations, if any, on the question papers relating to Final and Intermediate Examinations being held in May 2022 by e-mail at examfeedback@icai.in or by way of a letter, sent by Speed Post, at the following address, so as to reach us latest by 5th June 2022.
 Updation of UDINs at e-filing Portal
By Orion M.
Various instances of invalidation of UDINs at the e-filing portal of Income Tax Department are being reported by Members. In view of these, certain technological changes have been made. The Members are advised to try again to update those UDINs which have been invalidated earlier at the e-filing Portal.
 Assessment Test for Diploma in International Taxation (INTT-AT) from November, 2022 onwards
By Orion M.
The competent authority has decided that from November, 2022 and onwards, Assessment test for Diploma in International Taxation (INTT-AT) would be case study based open book Assessment test.
 Last Date Extended upto 8th May, 2022 - Registration for Online Business English Language Course from 16th May, 2022
By Sandy Mash
We wish to inform you that Committee for Development of International Trade, Services & WTO in collaboration with British Council is organizing the Online weekend batches of English Business Language course covering advance business communication for ICAI members, students from 16th May, 2022 for Intermediate, Pre Intermediate and Upper Intermediate level.
 Registration for Online Business English Language Course from 16th May, 2022- Last Date to apply 6th May, 2022
By Thomas T. Rucks
We wish to inform you that Committee for Development of International Trade, Services & WTO in collaboration with British Council is organizing the Online weekend batches of English Business Language course covering advance business communication for ICAI members, students from 16th May, 2022 for Intermediate, Pre Intermediate and Upper Intermediate level.
 Effective Date of applicability of Standard on Assurance Engagements (SAE) 3410 "Assurance Engagements on Greenhouse Gas Statements"
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From the Courts   RSS Feeds
 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.
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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
 Edited Transcript of Governor s Interview with CNBC TV18 on May 23, 2022
By Andrew F Thomas
Central bankers have been at the centre of action, the saviours for the economy; be it from the ravages of COVID or now, to rapidly rollback inflation. The Reserve Bank of India has also been the first line of defence for the country, and it made that position very clear when on May 4th, we had that unexpected off-cycle rise in rates. Inflation, nevertheless, is at 7.8 per cent. The man on the hot seat, the RBI governor is with us. Governor, thank you very much indeed for sparing time for us.
 Interest Equalization Scheme (IES) on Pre and Post Shipment Rupee Export Credit - Extension
By Orion M.
In this regard, Government has issued a clarification that the extended IES will also be available to such beneficiaries for segments other than for which they have availed of PLI benefits.
 Guidelines on import of gold by Qualified Jewellers as notified by The International Financial Services Centers Authority (IFSCA)
By Henry Richards
Directorate General of Foreign Trade (DGFT) formulate and implement the Foreign Trade Policy and Procedures in terms of Foreign Trade (Development and Regulation) Act, 1992, (FTDR Act 1992, hereinafter) as amended from time to time. In exercise of powers conferred by Section 3 read with Section 5 of FTDR Act 1992, read with paragraph 1.02 and 2.01 of the Foreign Trade Policy, 2015-2020, as amended from time to time, the Central Government has amended the import policy conditions for gold in any form, other than monetary gold and silver in any form under Chapter 71 of ITC (HS), 2017, Schedule-I (Import Policy) vide Notification No. 49/2015-2020 dated January 5, 2022.
 CARO 2020 AND BURNING ISSUES IN GST
  Directions under Section 35A read with Section 56 of the Banking Regulation Act, 1949 Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra Extension of Period
By Moshe Pras
The Reserve Bank of India, vide directive DCBS.CO.BSD-I/D-16/12.22.474/2018-19 dated June 21, 2019, had placed Shri Anand Co-operative Bank Limited, Chinchwad, Pune, Maharashtra under Directions from the close of business on June 25, 2019 for a period of six months. The validity of the directions was extended from time-to-time, the last being up to May 24, 2022.
 RBI Constitutes Committee for Review of Customer Service Standards in RBI Regulated Entities
By Henry Richards
As part of the Statement on Developmental and Regulatory Policies released along with the Monetary Policy Statement on April 08, 2022, the Reserve Bank of India had announced setting up of a Committee for Review of Customer Service Standards in RBI Regulated Entities (REs) for examining and reviewing the state of customer service in the REs and adequacy of customer service regulations and suggest measures to improve customer service. Accordingly, the Reserve Bank of India has constituted a Committee with the following composition:
 Housing Finance Loans for repairs/additions/alterations - Enhancement of limits
By Moshe Pras
Please refer to para 2 of the circular UBD.CO.BPD.(PCB).Cir.No.13/09.22.010/2013-14 dated September 10, 2013 on the captioned subject, wherein, the ceiling on loans to individuals for carrying out repairs/additions/alterations to their dwelling units was revised upwards to ₹2 lakh in rural and semi-urban areas and ₹5 lakh in urban areas.
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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
 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.
 ITAT deletes Addition u/s 68 of Income Tax Act Firm not Taxable for Capital introduced by Partner
By Jude Marg
The Income Tax Appellate Tribunal (ITAT), Chennai bench has held that the Firm cannot made taxable for the capital introduced by the Partner as section 68 of the Income Tax Act, 1961 cannot be applicable.
 Payment for Facebook Ads and Other Digital Advertising Companies not subject to TDS as per DTAA: ITAT
 No Service Tax Leviable on Goods component of Composite Works Contract as VAT has been paid: CESTAT
By Orion M.
The Chennai Bench of Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) held that no Service Tax is leviable on goods component of composite works contract as VAT has been paid.
 ITAT deletes Addition on Account of Investment made from Undisclosed Sources as all Transactions were made through Banking Channels
By Jude Marg
The Chandigarh Bench of Income Tax Appellate Tribunal (ITAT) deleted the addition on account of investment made from undisclosed sources as all transactions were made through banking channels.
 Relief to Honda: ITAT directs AO to delete Addition on account of Capitalisation of Royalty Expenses by Holding it to be Revenue in Nature
By Raul N Tiem
In a major relief to Honda Motorcycle and Scooter India Pvt. Ltd, the Delhi Bench of Income Tax Appellate Tribunal (ITAT) directed the AO to delete Addition on account of capitalisation of royalty expenses by holding it to be revenue in nature.
 Minimising tax liabilities by lawful means not illegal, says ITAT
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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
  95 LPA Opening Sr. Vice President-Accounts & Finance CA*( Manufacturing Industry)
By Sandy Mash
Experince: 10 - 15 years, Salary: 60,00,000 - 95,00,000 P.A., Functional Area: Finance & Accounting
 45 LPA Opening Head Business Finance
By Andrew F Thomas
Experince: 12 - 15 years, Salary: 35,00,000 - 45,00,000 P.A., Functional Area: Finance & Accounting
  65 LPA Opening Chief Financial Officer
By Andrew F Thomas
Experince: 8 - 13 years, Salary: 40,00,000 - 65,00,000 P.A., Functional Area: Finance & Accounting
 40 LPA Opening Finance COE Advisor US MNC
By Orion M.
Experince: 7 - 12 years, Salary: 30,00,000 - 40,00,000 P.A.,Functional Area: Finance & Accounting
 70 Cr LPA Opening Associate Director Indirect taxes
By Moshe Pras
Experince: 10 - 17 years, Salary: 55,00,000 - 70,00,000 P.A., Functional Area: Finance & Accounting
 1 Cr LPA Opening Associate Director FP&A-Hyderabad / Bangalore
By Thomas T. Rucks
Experince: 10 - 15 years, Salary: 1 Cr and above P.A., Functional Area: Finance & Accounting
 1 Cr LPA Opening Lead Category Finance (general Manager)
By Andrew F Thomas
Experince: 12 - 18 years, Salary: 35,00,000 - 1 Cr and above P.A., Functional Area: Finance & Accounting
More »
Markets   RSS Feeds
 Market Top Losers 25/05/2022
By Orion M.
Market Top Losers 25/05/2022
 Market Top Gainers 25/05/2022
By Jude Marg
Market Top Gainers 25/05/2022
 Top Ranked Mutual Funds 25/05/2022
By Raul N Tiem
Top Ranked Mutual Funds 25/05/2022
 Announcement Certificate Course on Cooperatives
By Andrew F Thomas
The Professional Development Committee of the ICAI in order to promote good governance and best practices in the Cooperative Sector. The Committee conducts Certificate Course on Cooperatives to make the members competent in the field of Cooperatives. This Course is conducted at various locations throughout the country.
 Market Top Losers 23/05/2022
By Orion M.
Market Top Losers 23/05/2022
 Market Top Gainers 23/05/2022
By Jude Marg
Market Top Gainers 23/05/2022
 Market Top Losers 17/05/2022
By Thomas T. Rucks
Market Top Losers 17/05/2022
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Direct Tax   RSS Feeds
 File ITR to avoid TDS/TCS deduction at higher rate, say analysts
By M. George
The CBDT has issued a circular pertaining to Sections 206AB and 206CCA of the I-T Act, which provide details regarding people to whom higher TDS/TCS rates should apply
 ITR filing is mandatory in 10 situations Check if you fall in any of them
By Sandy Mash
Section 139 lists certain situations wherein ITR filing by an individual is mandatory even if no tax has been deducted from his income or even if he does not earn any income. Recently, a few more situations have been notified wherein return filing is mandatory.
 Income Tax Alert! Not filed ITR? Get Ready To Pay Higher TDS in FY 2022-23
By Henry Richards
Not filing Income Tax Return (ITR) before the due date is going to be costly for some taxpayers!
 Missed ITR filing for FY 2020-21? You may be liable for higher TDS in current FY 2022-23
By Jude Marg
There is bad news for those who missed filing last year's income tax return (ITR). If you have missed filing ITR for financial year 2020-21 (assessment year 2021-22), then higher TDS will be applicable on certain incomes you will earn during the current financial year 2022-23.
 CBDT lays out guidelines for manual scrutiny of income tax returns
By M. George
Income-tax (I-T) authorities will manually select those tax returns (ITR) for complete scrutiny where reassessment notices have been issued pursuant to search or survey action carried out on or after April 1, 2021.
 CBDT issues Guidelines for Compulsory Selection of Income Tax Returns
By Sandy Mash
The Central Board of Direct Taxes (CBDT) has issued guidelines for the compulsory selection of income tax returns for scrutiny for the assessment year 2022-23.
 Deposited more than 50 lakhs to saving accounts this financial year? You must file ITR
By Andrew F Thomas
If you are making deposits aggregating more than 50 lakhs in one or more savings bank accounts in a financial year, you are required to mandatory file your returns.
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Tenders   RSS Feeds
  State Agricultural Management and Extension Training Institute, Howrah, West Bengal
By Moshe Pras
E-Tenders (Electronic Tenders) are invited in prescribed format from the CAG empanelled registered Chartered Accountant Firms/Other Entities (with at least two full time FCA/FICWA as partners), for the engagement for conducting Statutory Audit of Receipts & Payment Accounts, Income & Expenditure Accounts, Balance Sheet, Necessary Schedules etc. and related Statements of 23 ATMA districts, 347 blocks, SNC and SAMETI and the audit work for a small project (DAESI)
 Indian Institute of Management, Calcutta, West Bengal
 State Agricultural Management and Extension Training Institute, Howrah, West Bengal
By M. George
E-Tenders (Electronic Tenders) are invited in prescribed format from the CAG empanelled registered Chartered Accountant Firms/Other Entities (with at least two full time FCA/FICWA as partners), for the engagement for conducting Statutory Audit of Receipts & Payment Accounts, Income & Expenditure Accounts, Balance Sheet, Necessary Schedules etc. and related Statements of 23 ATMA districts, 347 blocks, SNC and SAMETI and the audit work for a small project (DAESI)
 The Oriental Insurance Company Limited, New Delhi, Delhi
By Sandy Mash
In compliance with the Order No. DDMA.403(GR-Relief Ops)CHR/2022-23/79 dated 18th May 2022 of the Office of Deputy Commissioner, District Disaster Management Authority, Silchar directing all the Educational Institutions to remain closed for the next 48 hours due to ongoing floods, it has been decided
 Tripura Forest Development & Plantation Corporation Ltd., Anandanagar, West Tripura
By Moshe Pras
Quotation is invited from the Chartered Accountants'Firms for conduct of lnternal Audit covering period of 2022-23 for the office of the Managing Director, Abhoynagar, Agartala (HQ) and its North (Kumarghat), South- | (Santir Bazar), South- ll (Sabroom) and Sadar (Agartala) Divisions, of Tripura Forest Development & plantation Corporation Limited (Five Units)
  National Textile Corporation Limited, New Delhi, Delhi
By Henry Richards
National Textile Corporation Limited intends to appoint Chartered Accountant/Cost Accountant firm as Internal Auditors for undertaking the Internal Audit work of our 23 Mills and 2 Regional Offices i.e. WRO and SRO across India and one Central Internal Auditor for the FY 2021-22 and FY 2022-23.
 Export Credit Guarantee Corporation of India Limited, Mumbai, Maharashtra
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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
 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.
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
By Raul N Tiem
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.
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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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