News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
News Headlines   RSS Feeds
 5 incomes you must not miss to report in your Income Tax Return for AY 2019-20
By CA Mayank Jain
The last date for filing of income tax return (ITR) for the Assessment Year 2019-20 has been extended to August 31, 2019. It is a welcome relief for a large number of taxpayers, especially salaried class employees who got their Form 16 in the second week of July 2019.
 How to File Income Tax Returns aka ITR Online in India
By CA Devender Singh
Most people who have an income are required to file income tax return aka ITR. Filing income tax returns in India is a fairly simple process for many people. You can file ITR online for free easily via the Income Tax Department's official website or third-party IT return filing websites as well. The deadline for returns online this year is August 31, 2019. The process for filing income tax returns is different for different people in India.
 Will a new direct tax law push up compliance?
By CA Devender Singh
India is rewriting its direct tax law to make it simpler, more sophisticated and less prone to disputes. A draft of the proposed new direct tax code (DTC) is expected to be ready by the end of this week. Mint takes a look at what the new code will strive to achieve.
 How To Verify Income Tax Return (ITR) Without Login To E-Filing Account
By CA S K Verma
The last day to file income tax return (ITR) for the assessment year 2019-20 (financial year 2018-19) is August 31, 2019. The Income Tax (I-T) department has launched a service to verify income tax return online without logging in to the income tax's e-filing portal. The service can be accessed by clicking 'e-verify return' button on Income tax e-filing website
 How to file ITR on the e-filing lite portal
By CA Nilesh Sahu
E-filing Lite is a lighter version of the e-filing portal of the tax department, which enables quick access to the portal and faster filing of ITR.
 Income Tax department launches new way of making e-verification ITR filing
By CA Devender Singh
To ease e-verification process of income tax returns (ITR), the Income Tax department has now launched a new facility on its e-filing portal. Taxpayers can e-verify their ITR without even logging in to the e-filing website.
 Have you filed your income tax return correctly? Find out
By CA Ojas Aggarwal
ET Wealth puts together a short quiz to help you understand if you are on the right track to file your income tax return. Filing tax returns incorrectly can get you a notice from the taxman. ET Wealth puts together a short quiz to help you understand if you are on the right track.
More »
Continuing Prof. Edu.   RSS Feeds
 CPE Events 19th August To 24th August 2019
By CA Devender Singh
CPE Events 19th August To 24th August 2019
 CPE Events 12th August To 17th August 2019
By CA Rashmi Sharma
CPE Events 12th August To 17th August 2019
  Overview of company Audit Report along with CARO and Practical aspect of filing form 9C under GST Act
By CA Nilesh Sahu
Place: Daryaganj CPE Study Circle of NIRC Date: 09-08-2019 – To: 09-08-2019 CPE.Hrs.: 5
 Programme on Tax havens around the world and how countries help the people to avoid taxes & Queries on GST Form 9 & 9C
By CA Devender Singh
Place: East End CA Study Circle of NIRC Date: 10-08-2019 – To: 10-08-2019 CPE.Hrs.: 4
  Programme on ICDS (Tax Audit) and GST Appeals, Practical Modalities in GST Notices reply / GST Litigations.
By CA Atul Gupta
Place: Shahdra CPE Study Circle of NIRC Date: 09-08-2019 – To: 09-08-2019 CPE.Hrs.: 5
 Overview of company Audit Report along with CARO and Practical aspect of filing form 9C under GST Act
By CA Mayank Jain
Place: Daryaganj CPE Study Circle of NIRC Date: 09-08-2019 – To: 09-08-2019 CPE.Hrs.: 5
 Programme on ICDS (Tax Audit) and GST Appeals, Practical Modalities in GST Notices reply / GST Litigations.
By CA Nilesh Sahu
Place: Shahdra CPE Study Circle of NIRC Date: 09-08-2019 – To: 09-08-2019 CPE.Hrs.: 5
More »
GST - Goods and Services Tax   RSS Feeds
 GSTN releases offline tool of new GST return for trial run
By CA Andrew F Thomas
These two forms would be part of the proposed GST Return filing system under which a taxpayer would have to file FORM GST RET-1 (Normal) or FORM GST RET-2 (Sahaj) or FORM GST RET-3 (Sugam) on either monthly or quarterly basis.
 Firms may get to raise prices after transferring GST cuts
By CA Nilesh Sahu
Companies are free to raise prices of products and services as per their business cycle without fear of getting caught in the anti-profiteering provision in the Goods and Services Tax (GST) law once they have passed on the benefit of tax rate cuts to consumers, said a government official.
 GST Council meet to decide on slashing tax rate for e-vehicles postponed
By CA S K Verma
The 36th GST Council meeting, which was to be held through video conferencing, had only one item in the agenda and that was to consider Centre's proposal to slash GST rates to 5 per cent from 12 per cent on e-vehicles.
 Now, interest to apply only on net cash liability of unpaid GST
By CA Nilesh Sahu
The Union Budget 2019 has provided relief to GST-registered taxpayers with several new updates. One such amendment relates to the interest on the delayed payment of GST liability. This is a big relief for taxpayers, because, until this amendment was passed, interest has always been charged on the entire amount of tax paid after the due date.
 GST applicable on entire building maintenance charge if above ?7,500: FinMin
By CA Andrew F Thomas
The finance ministry on Monday clarified that goods and services tax (GST) is applicable on the entire maintenance charge levied by taxable residential welfare associations if such charge is above ?7,500 a month for a member of the body.
 How has GST Revolutionised India's Economy
By CA Ojas Aggarwal
Goods and Services Tax (GST) is India’s biggest indirect tax reforms which started on July 1, 2017. It is founded on the notion of “One Nation, One Market, One Tax”, as we enter the third year of successful implementation of GST after braving some serious challenges.
 Reaping best benefits requires laws and compliance structures be made simpler GST
By CA Andrew F Thomas
In the recently announced Budget 2019-20 papers, lies buried a data point on the India GST. In a span of two years from its introduction, the initial euphoria and charm has faded away completely, and the GST numbers have been reduced to reflect a decrease in the expected collections.
More »
Markets   RSS Feeds
 FM calms nerves, says no plan to tax market gains
By CA S K Verma
In a bid to calm frayed nerves of stock market players, Finance Minister Arun Jaitley on Sunday clarified the government has no intention to impose a tax on long-term capital gains from trading in shares.
 Why we must tweak the market-led model
By CA Ojas Aggarwal
ACCORDING to the latest report by the New World Wealth, after Russia, India is the second most unequal nation in the world as 54 per cent of its wealth is in the hands of millionaires.
 PE transactions prompt income tax queries over round tripping concerns
By CA Atul Gupta
Domestic companies raising private equity funding in the near term are likely to face increased scrutiny from tax sleuths looking for instances of round tripping.
 Amended India-Mauritius tax treaty only covers investments in shares
By CA Andrew F Thomas
The revamped India-Mauritius tax treaty will apply to only investments in shares and not to other instruments, details of the agreement released by Port Louis showed.
 Government drops cap gains tax on startup shares held for 2 years
By CA Nilesh Sahu
In a fresh boost to startups, the government on Thursday inserted an amendment to the Finance Bill to provide for capital gains tax exemption if shares of an unlisted company were held for more than two years.
 Tax-free bonds regain demand in the secondary market
By CA Ojas Aggarwal
Tax-free bonds which have been languishing for more than six months due to lack of investor interest in the secondary market, are in demand again.
 Relevant Market Under Competition Act, 2002
By CA S K Verma
The object of the Competition Act, 2002 (Act for short) is to preserve and promote competition and to prevent anti competitive business practices with minimal Government intervention.
More »
General   RSS Feeds
 Generation/Allotment/Quoting of Document Identification Number in Notiee/Order/Summons/letter/correspondence issued by the Income-tax Department
By CA Manu T George
Wit h the laun ch of vari ous e-governance initi at ives, Income-tax Depa rtment is movi ng toward total com puteri zati on of its work. Thi s' has led to a significant improvement in delivery of services and has also brought greater transparency in the functioning of the tax
  Who all need to file their tax returns
By CA Nilesh Sahu
There are several myths around tax filing. Some people believe that if their employer issues a Form 16 and deducts tax, they do not need to file their income tax returns (ITR). That is not true. In fact, even if your income is below the threshold limit till which tax filing is not required, you may still need to file ITR depending on other conditions.
 How to link your Aadhaar number with your income tax return
By CA Mayank Jain
According to a notification by the CBDT, it is mandatory to quote your Aadhaar number while filing ITR unless specifically exempted. The notification further specifies that tax return cannot be filed either electronically or manually without quoting Aadhaar number. To quote your Aadhaar number in your ITR, additional spaces have been provided in the ITR forms. ET Online tells how you can link your Aadhaar with your ITR.
 How tax dept is using data to increase revenue collection
By CA Andrew F Thomas
How exactly the department is collating and using data? A look at the income tax department's action plan for 2019-20 gives an insight
 Companies seek clarity on buyback tax from finance ministry
By CA Ojas Aggarwal
Blindsided by the government’s budget proposal to tax share buybacks by listed companies at 20%, a couple of listed companies that had announced their buyback plans before the budget have written to the finance ministry seeking clarity on the application of the tax on their buyback offerings.
 Will the rich outsmart the taxman?
By CA Manu T George
The super-rich in India are racking their brains to figure out ways to soften the blow dealt by New Delhi’s decision to impose a stiff surcharge on their income tax.
 Income tax benefits on NPS explained in 5 points
By CA Mayank Jain
The government has made National Pension System or NPS more attractive by announcing new income tax benefits in Budget 2019 for investors in the pension scheme. NPS is a voluntary, defined contribution retirement savings scheme. It is open for both government, private sector employees and the self-employed.
More »
Corporate Law   RSS Feeds
  GST & Companies Act way Forward
By CA Mayank Jain
Place: East Delhi CPE Study Circle of NIRC Date: 06-04-2019 – To: 06-04-2019 CPE.Hrs.: 5
 Taxmen use rare law to collect dues directly from bank accounts of evaders
By CA Manu T George
Revenue officials, chasing huge tax collection deficit, are moving into top gear to maximise collections by year end even if that means deducting money directly from your bank account to fill a gap of thousands of crores.
 Income tax law needs to be a lot simpler
By CA Manu T George
Simplifying the Income Tax Act, automating tax collection and return processing and making the process user-friendly are priorities for the National Democratic Alliance (NDA) government, finance minister Piyush Goyal said.
 Govt panel may recommend dropping dividend distribution tax in new direct tax law
By CA Rashmi Sharma
The tax law panel is considering reverting to the classical method of taxing dividend in the hands of the shareholders Members of the task force set up to draft a new direct tax legislation may favour abolishing dividend distribution tax (DDT), according to a report by The Times of India.
 Law Commission proposes to abolish it Tax saving tool HUF may cease to exist
By CA Atul Gupta
The concept of Hindu Undivided Family (HUF) may cease to exist if the proposals of a recently released consultation paper on Reform of Family Law by the law commission are accepted.
 Residential status rules are different for exchange control, income tax laws NRI taxation
By CA Nilesh Sahu
The rules for determination of residential status under the exchange control law are different from those under the income tax law.
 Recent advance rulings under the GST Law
By CA Andrew F Thomas
The Authority for Advance Ruling (AAR) constituted under the Goods and Services Tax (GST) Law has recently pronounced advance rulings clarifying certain positions on the applicability of GST on supply of goods from retail outlets in international airports,
More »
Students   RSS Feeds
 Clarification on postponement of some of the papers of May 2019 CA Exams
By CA Manu T George
Postponement of Paper on 2nd June 2019 to 4th June 2019 was occasioned by the inability expressed by many exam centres to conduct the exam on that date owing to their holding UPSC exams on that day
 Admit Cards for appearing in May 2019 CA Final / Intermediate/ Intermediate(IPC) Exams
By CA Rashmi Sharma
It may be noted that Page No 2 of the admit card provides for columns for taking acknowledgement of the invigilator, after submission of the answer books, at the exam hall/centre.
 Zone / City - shifting of candidates for MAY - 2019 CA Exams
By CA Manu T George
Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Hyderabad, Mumbai, Pune and Vadodara some of the candidates have been allotted examinations centres in the zone other than the zone opted by them in the said cities.
 Case Study Development in various Elective Subjects of CA Final Course
By CA Andrew F Thomas
The ICAI, under its New Scheme of Education and Training has introduced Case-Study and Open-Book based Elective subjects at the Final level of CA course. In order to strengthen its pool of case studies, it is inviting case studies from Members, Academicians
 Next Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Hyderabad, from 04th May to 26th May, 2019
By CA Andrew F Thomas
The ICAI Registered Valuers Organsiation (ICAI RVO) is conducting batch of Educational Course for taking IBBI Registered Valuers Examination for Securities or Financial assets class at Hyderabad from 04th May to 26th May, 2019 on the following dates:
 Examination of Certificate Course on Forex and Treasury Management-Forthcoming Exam centers at Ahmedabad, Bangalore ,Chennai, Hyderabad, Mumbai & Noida on 18th & 19th May 2019
By CA Rashmi Sharma
Kind attention to the members registered for the Certificate Course on Forex and Treasury Management is invited to the next examination of the Course which will be held on 18th and 19th May 2019 (Saturday and Sunday) as per the detail given below
 Certificate Course on Forex and Treasury Management - Forthcoming Batches at Noida, Mumbai & Bengaluru
By CA Mayank Jain
Sealed tenders in prescribed format are invited for Engagement of Internal Auditors for The Orissa Minerals Development Company Ltd. for the Financial Year 2019-20.
More »
New Forms   RSS Feeds
 Before you file your tax return, note the key changes in Form 16
By CA Mayank Jain
Part B of Form 16 has been amended seeking more details about the allowances exempt under section 10 such as HRA, LTA, etc and deductions allowed under Chapter VI-A of the Income Tax Act, 1961.
 5 Things to know about Form 16
By CA Atul Gupta
Form 16 is a certificate issued by an employer, certifying that the TDS is deducted from the salary of the employee and deposited with the government.
 Form 16 will now have more details of your income and deductions
By CA Nilesh Sahu
In yet another attempt to increase transparency and minimize tax evasion, the Central Board of Direct Taxes (CBDT) has notified various changes in the formats of Form 16 and Form 24Q. The new amendments are in line with the changes in income-tax rules and new income tax return (ITR) forms recently notified by CBDT for assessment year (AY) 2019-20.
 Amendment of Form No. 16 and Form No. 24Q
By CA Manu T George
In exercise of powers conferred by sections 200 and 203 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962,
 What are Form 15G, Form 15H?
By CA Mayank Jain
Form 15G is for resident Indians under the age of 60, HUF or trust. While Form 15H is for resident Indians aged 60 years or above.
  Post Qualification Course in International Taxation - Assessment Test (INTT-AT) - May, 2019 Application Form
By CA Atul Gupta
Candidates are advised to carefully read, understand and follow the instructions while filling in the Form and retain the same for future reference
 Form 60 can help you Don’t have PAN and need to do these important transactions?
By CA Ojas Aggarwal
As per the Income Tax Act, PAN is necessary to be quoted in various documents or transactions. However, in certain cases Form No 60 can also be used. Here's all you need to know.
More »
ICAI   RSS Feeds
 Whether a Firm can register on UDIN Portal?
By CA S K Verma
No, only members of ICAI having full-time Certificate of Practice can register on UDIN Portal.
 Govt panel gets time till Monday to submit direct tax code report
By CA Rashmi Sharma
The much-awaited report on the new direct tax code (DTC), which will replace the existing income tax act of 1961, will be submitted to finance minister Nirmala Sitharaman on Monday, said one person privy to the development, requesting anonymity.
 Application forms for DIRM, ITL&WTO, INTT-AT Exams-Nov, 2019
By CA Andrew F Thomas
Application forms for DIRM, ITL&WTO, INTT-AT Exams-Nov, 2019
 ICAI - Survey on GST Implementation in India
By CA Nilesh Sahu
ICAI - Survey on GST Implementation in India, Members are requested to participate at http://idtc.icai.org/cc/apps/survey.php by 31st Aug, 2019
 Can a Partner generate UDIN for the Certificate signed by another Partner?
By CA S K Verma
No,Only signing Partner has to generate UDIN.
 Cut-off date for conversion from Earlier Scheme to Revised Scheme to appear in November, 2019 Intermediate Examinations – 7th September, 2019
By CA Ojas Aggarwal
The last date of conversion from Earlier Scheme to Revised Scheme to appear in Intermediate November, 2019 examinations was 27th August, 2019. Considering the hardship being faced by students in converting themselves, it has been decided by the Competent Authority that the last date of conversion is extended from 27th August, 2019 to 7th September, 2019 for appearing in November, 2019 Intermediate Examinations.
 Important Announcement - For kind Attention of Students of Common Proficiency Course (CPC)
By CA Atul Gupta
The last date of conversion from CPC to Foundation Course was 16th August, 2019 and considering the hardship being faced by students in converting themselves from CPC to Foundation Course, it has been decided by the Competent Authority that the last date of conversion is extended from 16th August, 2019 to 7th September, 2019for appearing in November, 2019 Foundation Exams provided
More »
From the Courts   RSS Feeds
 The ACIT, Central Circle-2, Room No.323, 3rd Floor, ARA Centre, Jhandewalan Extn., New Delhi. Vs. M/s. Majestic Properties (P) Ltd., 1/18B, Asaf Ali Road, New Delhi.a
By CA Ojas Aggarwal
CBDT under section 268A of the I.T. Act, it has been directed that the Department shall not file appeal before the Tribunal in case where the tax effect does not exceed the monetary limit of Rs.20 lakhs. It is also directed that this instruction
 DCIT, Circle-Najibabad, Wahid Nagar, Najibabad Vs. Bijnor Urban Co-operative Bank Ltd, Civil Lines, Bijnor
By CA Atul Gupta
These are the appeals filed by Department against the order of respective the ld CIT(A)-for respective assessment Years
 Harish Kumar, (Huf), 5/21, Shanti Niketan, New Delhi – 110 021 Vs. Dcit, Circle 34(1), New Delhi Room No. 804, 8th Floor Bhawan, Civic Centre, New Delhi – 110 002
By CA Mayank Jain
Referred Sections: Section 94(7) of the I.T. Act. Section 271(1) of the Act, Section 274, Sections 2710 and 271E of the Act. Section 275 of the Act. Section 133A
 M/s Raman Kumar Sawhney, New Delhi. Vs. ITO, Ward-50(3), New Delhi.a
By CA Manu T George
This appeal by Assessee is filed against the order of Learned Commissioner of Income Tax (Appeals)-17, New Delhi, ["Ld. CIT(A)", for short], dated 27.10.2016 for Assessment Year 2012-13. The grounds of appeal are as under
 M/s. T. V. Today Network Limited F-26, Connaught Place, New Delhi Vs. Addl. CIT Range- 16 New Delhi
By CA Devender Singh
We will first take up revenue's appeal for the captioned assessment years. The common grievance relates to the deletion of the disallowance made by Assessing Officer on account of accrued incentive to staff though the quantum may differ in the captioned assessment years.
 M/s Bhandari Fibretech Pvt.Ltd., S-20, Okhla Industrial Area, Phase-2, Vs. Income Tax Officer, Ward-4(4), New Delhi.
By CA S K Verma
The applicant submits that the total outstanding demand which is disputed before the Tribunal is `1,97,08,782/-. The demand is arising primarily on account of addition made under Section 68 of the Act in respect of unexplained share application money.
 45 LPA-Opening Associate CFO
By CA Nilesh Sahu
Salary: INR 50,00,000 - 90,00,000 PA., Role:Head/VP/GM-CFO/Financial Controller, PG:CA
More »
Auditing   RSS Feeds
 Auditors barred from putting a value on companies they are auditing
By CA S K Verma
An income tax tribunal has barred auditors from issuing valuation certificates to the companies they are auditing. This is set to impact several tax disputes around valuations in companies including angel tax disputes involving start-ups.
 Standard on Internal Audit (SIA) 18, Related Parties
By CA Devender Singh
Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
By CA S K Verma
Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
 Standard on Internal Audit (SIA) 16, Using the Work of an Expert
By CA Ojas Aggarwal
Standard on Internal Audit (SIA) 16, Using the Work of an Expert
 Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
By CA Atul Gupta
Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
By CA Mayank Jain
Standard on Internal Audit (SIA) 13, Enterprise Risk Management
 Standard on Internal Audit (SIA) 12, Internal Control Evaluation
By CA Manu T George
Standard on Internal Audit (SIA) 12, Internal Control Evaluation
More »
Latest Circulars   RSS Feeds
 Emerging Challenges to Financial Stability (Shri Shaktikanta Das, Governor, Reserve Bank of India - Monday, August 19, 2019 - at FIBAC 2019 – the Annual Global Banking Conference organised by IBA and FICCI, Mumbai)
By CA S K Verma
It is indeed a matter of great pleasure for me to be here today amidst the business and financial sector leaders. My compliments go to the partners, namely, the Indian Banks’ Association, FICCI and the Boston Consulting Group for spearheading this event.
 Foreign Exchange Management (Deposit) (Amendment) Regulations, 2019 – Acceptance of Deposits by issue of Commercial Papers
By CA Ojas Aggarwal
Attention of Authorised Dealers (ADs) is invited to the Foreign Exchange Management (Deposit) Regulations, 2016 notified vide Notification No. FEMA 5(R)/2016-RB dated April 1, 2016, as amended from time to time and the relevant directions issued thereunder.
 Direct Benefit Transfer (DBT) Scheme – Implementation
By CA Manu T George
In this connection, banks are advised to ensure that opening of bank accounts and seeding of Aadhaar numbers with existing or new accounts of eligible beneficiaries opened for the purpose of Direct Benefit Transfer (DBT) under social welfare schemes, is in conformity with the provisions listed under Section 16
 Clarification in respect of filling-up of the ITR forms for the Assessment Year 2019-20
By CA Mayank Jain
The Income-tax return (ITR) forms for the Assessment Year (AY) 2019-20 were notifiedvide notification bearing G.S.R. 279(E). dated the 1st day April, 2019. Subsequently, the instructions for filing ITR forms were issued and the software utility for e-filing of all the ITR forms were also released.
 Here's how you can file your income tax this year ITR Filing
By CA Manu T George
A proviso has been added to condition (b) of Section 23 of the Master Direction to the effect that, where the individual is a prisoner in a jail, the signature or thumb print shall be affixed in presence of the officer in-charge of the jail and the said officer shall certify the same under his signature and the account shall remain operational on annual submission of certificate of proof of address issued by the officer in-charge of the jail.
  RBI-Auction of Government of India Dated Securities August 09, 2019
By CA Rashmi Sharma
The auction will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the notifications (copies enclosed), which should be read along with the General Notification F.No.4(2)–W&M/2018, dated March 27, 2018 issued by Government of India.
 RBI-Edited Transcript of Reserve Bank of India’s Third Bi-Monthly Monetary Policy Press Conference
By CA S K Verma
Good afternoon! I will first make the statement on Part A, that is, the matter covering the resolution of the MPC; and Part B, announcements on certain regulatory and developmental policy initiatives. .
More »
Forex   RSS Feeds
 Perils of an ad hoc forex policy
By CA Nilesh Sahu
In a speech that he gave last month at the International Monetary Fund, the Reserve Bank of India (RBI) Governor,
 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
By CA Andrew F Thomas
The rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade today following weak domestic equity markets
 Rupee strengthened by 7 paise against dollar
By CA Devender Singh
The rupee strengthened by 7 paise to Rs 45.35 a dollar in early trade today on weakness in the US currency against major world currencies
 Rupee up by 4 paise against dollar in early trade
By CA Nilesh Sahu
The rupee strengthened by 4 paise to Rs 45.48 against the US dollar in early trade at the Interbank Foreign Exchange today
 Rupee falls by 18 paise at 4-week low against dollar
By CA Manu T George
The rupee today fell by 18 paise to trade at a four-week low of Rs 45.54 against the US currency in early trade, weighed down by dollar's gains against the major world currencies
 Rupee drops on weak shares; inflation eyed
By CA Nilesh Sahu
The Indian rupee fell on Friday tracking losses in local shares, which raised worries of foreign investors continuing to pull out funds from Asia's third-largest economy
 Rupee raises 6 paise against dollar in early trade
By CA Rashmi Sharma
The Rupee appreciated by 6 paise to Rs 45.07 a dollar at the Interbank Foreign Exchange market today, boosted by the greenback's weakness against euro and other major currencies
More »
ITAT-Constitution of Benches   RSS Feeds
 ITAT slams Tax Dept for Negligence in Maintaining Records, says Assessee can’t be Penalized for such Mistakes
By CA Ojas Aggarwal
While granting section 12A registration to a Trust, the Pune bench of the Income Tax Appellate Tribunal ( ITAT ) has criticized the income tax department for its negligence in keeping records.
 Monetary limits for filing/withdrawal of Wealth Tax appeals by the Department before ITAT, HCs and SLPs/appeals before SC through extending the scope of Circular 3 of 2018 -Measures for reducing litigation.?
By CA Devender Singh
Reference is invited to Board's Circular No. 3 of 2018 dated 11.07.2018 (hereinafter, referred to as "the Circular") vide which monetary limits for filing of income tax appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/ appeals before Supreme Court were specified.
 Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Cause List Of Cases Posted Before A-Bench ( Db & Smc ) 14.01.2019 To 18.01.2019
By CA Rashmi Sharma
Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Cause List Of Cases Posted Before A-Bench ( Db & Smc ) 14.01.2019 To 18.01.2019
 Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sal Ma/ Pronouncement For Friday 18.01.2019
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sal Ma/ Pronouncement For Friday 18.01.2019
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata. Sub : Cause List For The Cases Fixed On Friday The 11/01/2019
By CA Manu T George
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata. Sub : Cause List For The Cases Fixed On Friday The 11/01/2019
 Income Tax Appellate Tribunamumbai Benchemumbai Consolidated Cause List Of SA/ Maj Pronouncement For Friday 11.01.2019
By CA Rashmi Sharma
Income Tax Appellate Tribunamumbai Benchemumbai Consolidated Cause List Of SA/ Maj Pronouncement For Friday 11.01.2019
 Income Tax Appellate Tribunal: Chandigarh Benches: Chandigarh Revised Constitution Of Chandigarh Benches From: 17'12.2018 To 21.12.2018 & 24.12.2018 To 28.12.2018,
By CA Andrew F Thomas
Income Tax Appellate Tribunal: Chandigarh Benches: Chandigarh Revised Constitution Of Chandigarh Benches From: 17'12.2018 To 21.12.2018 & 24.12.2018 To 28.12.2018,
More »
Finance Bills   RSS Feeds
 The Companies (Removal Of Difficulties) Seventh Order - dated 4th Sept 2014 New
By CA Manu T George
Whereas the Companies Act, 2013 (18 of 2013) (hereinafter referred to as the said Act) received the assent of the President on the 29th August, 2013 and section 143 of the Act,
 Finance & Commerce Ministry to discuss draft BIPA model tomorrow
By CA Nilesh Sahu
Officials of the finance and the commerce and industry ministries are scheduled to discuss the issues related to the draft text of the Bilateral Investment Promotion and Protection Agreement (BIPA) tomorrow.
 Union Finance Minister Shri Arun Jaitley said that the revenue targets fixed for Direct Taxes for the current Financial Year 2014-15 would not only be achieved but would also be surpassed
By CA Nilesh Sahu
The Union Finance Minister Shri Arun Jaitley hoped that the revenue targets fixed for Direct Taxes for the current Financial Year 2014-15 would not only be achieved but would also be surpassed.
 Finance ministry may pitch for higher tax exemption on health insurance
By CA Mayank Jain
The finance ministry is likely to pitch for a substantial increase in the income-tax exemption limit for health insurance as part of its plan to deepen insurance coverage. The ministry is examining a proposal that seeks to double the limit to 30,000 from 15,000.
 Finance minister reviews annual performance of public sector banks and financial institutions for 2013-14; calls for tougher action against wilful defaulters; highest ever more than 10,000 new branches opened during 2013-14
By CA Devender Singh
The Union Finance Minister Shri P. Chidambaram said that the last Financial Year 2013-14 was a difficult year even though there was positive movement towards greater stability.
 India Infrastructure Finance Company to raise Rs 7,000 crore through tax-free bonds
By CA Manu T George
State-owned India Infrastructure Finance Company (IIFCL) plans to raise Rs 7,000 crore via a public issue of tax-free bonds in October, according to a senior company official
 Finance Ministry hopes RBI focusses on promoting growth in policy tomorrow
By CA Atul Gupta
Ahead of tomorrow's monetary policy review, the Finance Ministry has expressed the hope that Reserve Bank will focus on promoting growth.
More »
Placements & Empanelment   RSS Feeds
 22 LPA-Opening Chartered Accountant
By CA Andrew F Thomas
Salary: INR 12,00,000 - 22,00,000 PA. Profit Sharing Business, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 1 Cr LPA-Opening Practicing Chartered Accountant
By CA Nilesh Sahu
Salary: INR 35,00,000 - 1,00,00,000 PA. Best in the Industry, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 75 LPA-Opening Head of Finance
By CA Atul Gupta
Salary: INR 45,00,000 - 75,00,000 PA. Tax free salary with expat benefits, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
  30 LPA-Opening Manager Finance & Accounts
By CA Mayank Jain
Salary: INR 20,00,000 - 30,00,000 PA., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,
 90 LPA-Opening Finance Controller
By CA Andrew F Thomas
Salary: INR 50,00,000 - 90,00,000 PA., Role:Head/VP/GM-CFO/Financial Controller, PG:CA
 25 LPA-Opening Senior Manager Internal Audit
By CA Devender Singh
Salary: INR 20,00,000 - 25,00,000 PA., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 22.5 LPA-Opening Manager Internal Audit - Manufacturing Industry
By CA S K Verma
Salary: INR 18,00,000 - 22,50,000 PA., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, PG - CA
More »
Direct Tax   RSS Feeds
 ITR forms with pre-filled investment data soon
By CA Atul Gupta
Pre-filled forms will soon be able to pick salary breakup directly from an individual’s Form 16. Imagine not having to fill up any details of dividend from mutual funds or gain or loss on equities, and interest income in your income tax return! One may soon get all those details filled in advance in one’s I-T return form; just check the details, pay tax if due, and file it.
  You might need to maintain tax returns records for seven years
By CA Rashmi Sharma
In today’s digital age, income tax records can be maintained at little or no expense for long periods of time in a digital format. However, it is important to know the time limits for different types of income tax assessments while you are storing and filing away old documents.
 How improper investments may result into additional tax payable Income Tax Return 2019a
By CA Andrew F Thomas
For a taxpayer, who has exhausted the 80C limit, the accrued interest will be added to “Income from other Sources”, but he/she will get no deduction for the same u/s 80C, resulting into higher taxable income.
  Will a new direct tax law push up compliance?
By CA Nilesh Sahu
India is rewriting its direct tax law to make it simpler, more sophisticated and less prone to disputes. A draft of the proposed new direct tax code (DTC) is expected to be ready by the end of this week. Mint takes a look at what the new code will strive to achieve.
 You might need to maintain tax returns records for seven years
By CA Ojas Aggarwal
In today’s digital age, income tax records can be maintained at little or no expense for long periods of time in a digital format. However, it is important to know the time limits for different types of income tax assessments while you are storing and filing away old documents.
 ITR filing: Common mistakes that could get you an income tax notice
By CA Andrew F Thomas
The deadline for filing income tax return or ITR has been extended to August 31. File your returns well in advance to avoid mistakes that could prove costly later on. Mistakes in ITR filing can be rectified by filing revised return but it takes extra time and effort. Depending on the nature of income and the their status, taxpayers are required to choose an appropriate form for filing of ITR. Tax experts advise avoiding these mistakes that could fetch you a notice from income tax authorities.
 Income tax return filing: What you must know about capital gains from the stock marketa
By CA S K Verma
Income from capital gains can be reported in Form ITR-2 or ITR-3. As every transaction in securities is unique, gains or losses arising from such transaction should be reported separately or in aggregate
More »
Tenders   RSS Feeds
  Institute Of Chartered Accountants Of India,Gandhinagar,Gujarat
By CA Mayank Jain
When asked about his views on D-Street, Garner said: "We have a target of 45,000 for the Sensex." Jonathan Garner, chief Asia & EM equity strategist at Morgan Stanley, spoke to CNBC-TV18 about trends in the global and domestic markets.
  Institute Of Chartered Accountants Of India,Gandhinagar,Gujarat
By CA Manu T George
When asked about his views on D-Street, Garner said: "We have a target of 45,000 for the Sensex." Jonathan Garner, chief Asia & EM equity strategist at Morgan Stanley, spoke to CNBC-TV18 about trends in the global and domestic markets.
 Union Territory Administration Of Chandigarh,Chandigarh
By CA Ojas Aggarwal
The Tax Consultant firm/(Chartered Accountant) should be registered with the Institute of Chartered Accountants of India having 5 years experience in the field with annual turnover Rs.15.00 Lacs for the last 3 years (each year). The firms must have Head Office/Branch Office within Chandigarh.
 Institute Of Chartered Accountants Of India,Gandhinagar,Gujarat
By CA Atul Gupta
GPCL has been playing the role of developers and catalyst in the energy sector in Gujarat State. It is engaged in the business of generation of electricity and development of solar park in Gujarat State.
 Gujarat Power Corporation Limited, Gandhinagar, Gujarat
By CA Mayank Jain
GPCL has been playing the role of developers and catalyst in the energy sector in Gujarat State. It is engaged in the business of generation of electricity and development of solar park in Gujarat State.
 Reserve Bank Of India, Pune, Maharashtra
By CA Andrew F Thomas
Tender for awarding contract for conducting concurrent audit of College of Agricultural Banking, Reserve Bank of India (the Bank), Pune
  Gujarat Technological University, Ahmedabad, Gujarat
By CA Nilesh Sahu
The Gujarat Technological University (GTU) is established by the legislative assembly of the Government of Gujarat in the year 2007.GTU has its Head Office at near Visat Cross roads, Gandhinagar Koba-Highway, Ahmedabad-382424.
More »
Transfer Pricing   RSS Feeds
 Transfer pricing amendments – a step towards certainty
By CA Manu T George
The Finance Minister has proposed to provide an option to the taxpayers to make one-time payment of tax including surcharge on the amount of transfer pricing adjustment or part thereof, instead of tax on deemed interest every year in case the taxpayer does not repatriate money from its AE in India.
 key international tax and transfer pricing developments
By CA Rashmi Sharma
Following the re-election of the Modi government, this year’s budget was presented by India’s first full-time female Finance Minister, Mrs. Nirmala Sitharaman. The finance minister maintained the theme that it is well within India’s capacity to reach a $5 trillion economy by 2025.
 Transfer pricing methodology of MNCs under customs department lens
By CA Rashmi Sharma
The days for information arbitration may just be over for many companies. The special valuation branch of the customs department is scrutinising transfer pricing methodologies of several multinationals with a view to reconcile their tax and import-expert submissions.
 MNCs now won't have to file CbC report in Indiaa
By CA Ojas Aggarwal
Indian arms of US MNCs will not have to file country by country or CbC report here. India has finalized bilateral competent authority arrangement for exchange of CbC reports with US.
 Citing Supreme Court’s Vodafone order, Bombay HC rejects transfer pricing adjustment
By CA Ojas Aggarwal
Relying on the Supreme Court’s verdict in the Vodafone case related to transfer pricing adjustment (TPA), the Bombay High Court upheld the Income Tax Appellate Tribunal (ITAT) ruling that had struck down the adjustments made by the taxman on an Indian company for buying shares in a fully-owned Dubai-based subsidiary on its capital account.
 General Insurance Corporation Of India, Mumbai, Maharashtra
By CA Ojas Aggarwal
This E-Tender document is not an agreement or offer by General Insurance Corporation of India (hereinafter to be referred as GIC Re) to the prospective Bidders or any other party. The purpose of this E-Tender document is to provide interested parties with information to assist the formulation of their Bid.
 Air India Limited, Multi Location, Multi State
By CA Atul Gupta
The information contained in this TENDER or subsequently provided to bidder(s) whether verbally or in documentary or in any other form or on behalf of Air India, is provided to the bidder(s) on the terms and conditions set out in this TENDER and such other terms and conditions subject to which such information is provided.
More »
Customs and Excise   RSS Feeds
 Notification No.59/2019 Central Board Of Indirect Taxes And Customs
By CA Rashmi Sharma
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendments in the Notification of the Central Board of Indirect Taxes and Customs No.55/2019-CUSTOMS (N.T.), dated 1st August, 2019 with effect from 14th August, 2019,
  Notification No. 57/2019- Central Board of Indirect Taxes and Customs
By CA Mayank Jain
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs
 Notification No. 58/ 2019-Central Board of Indirect Taxes & Customs
By CA Manu T George
In exercise of the powers conferred by clause (aa) of sub- section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs, hereby makes following further amendments in the notification of the Government of India in the Ministry of Finance
 Notification No.55/2019 Central Board Of Indirect Taxes And Customs
By CA S K Verma
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.52/2019-CUSTOMS (N.T.), dated 18th July, 2019
 Notification No. 54/2019 Central Board Of Indirect Taxes And Customs
By CA Ojas Aggarwal
In exercise of the powers conferred by section 157, read with sections 30, 30A, 41, 41A, 53, 54, 56, sub-section (3) of section 98 and sub-section (2) of section 158 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following regulations further to amend the Sea Cargo Manifest and Transhipment Regulations, 2018, namely: -
 Notification No. 51/2019- Central Board of Indirect Taxes and Customs
By CA Devender Singh
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs
 Notification No. 50/2019- Customs Ministry Of Finance (Department Of Revenue)
By CA S K Verma
In exercise of the powers conferred by clause (c) of sub-section (1) of section 7 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect taxes and Customs hereby makes the following further amendments in the notification of the Government of India,
More »
Mergers and Acquisitions   RSS Feeds
 Deals of the day-Mergers and acquisitions July 30
By CA Atul Gupta
As part of the Upjohn-Mylan deal, the Indian unit of US drug major Pfizer announced on July 30 that it will be transferring six brands to the combined entity.
 Mergers And Acquisitions Hit A Slump In The Indian Startup Ecosystem With Negative 9% CAGR
By CA Andrew F Thomas
In 2018, the Indian startup ecosystem saw 259 exits, or 23% more than the 211 in 2017, on the back of deals in consumer technology, IT and IT-enabled services. However, apart from the Walmart-Flipkart deal that contributed to a large part of exits and acquisition, there have only been a handful of successful IPOs (i.e Yatra, IndiaMart) or big exits in the startup economy till July 2019.
 Deals of the day-Mergers and acquisitions July 17, 2019
By CA Manu T George
Israel’s competition agency approved a deal that would allow Searchlight Capital Partners to take control of Israel’s largest telecoms group, Bezeq Israel Telecom.
  How M&A deals are likely to pan out in 2019
By CA Manu T George
It has been quite a happening year for mergers and acquisitions (M&As). Some marque acquisitions of 2018 were Walmart Inc.’s $16 billion acquisition of Flipkart, UltraTech Cement Ltd’s acquisition of Binani Cement, and Hindustan Unilever (HUL)’s acquisition of iconic health drink brands of GlaxoSmithKline Consumer Healthcare Ltd.
 Deals of the day-Mergers and acquisitions July 8, 2019
By CA Rashmi Sharma
Indian government will attempt to cut its share holding in state-run companies in 2019-20 to the minimum required under the rules, a government official said, as it seeks to shore up 1.05 trillion rupees ($15.30 billion) through stake sales in the current fiscal year.
 M&A activity in India down 51.4% in H1
By CA Rashmi Sharma
M&A activity in India fell 51.4 per cent to $41.6 billion in the first half of 2019, after a record H1 last year, according to a report by Refinitiv, a global provider of financial markets data owned by Blackstone Group and Thomson Reuters.
 M&A deals more than halve to $41.6 bn in January-June
By CA Manu T George
Overall mergers and acquisitions (M&A) in India, which hit a record high in the first half of 2018, more than halved to $41.6 billion in the first half of 2019 as both domestic and cross border deals declined, according to Refinitiv, a financial market data provider owned by Blackstone and Thomson Reuters.
More »
Indirect Tax   RSS Feeds
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
By CA S K Verma
Income Tax Return: Income Tax department has made lives easier for the taxpayers by launching 'e-Filing Lite' portal. The portal is meant for the tax payers who find filing of income tax returns (ITR) on their own a complicated and time-taking process.
 No income tax on interest from accident compensation: High Court
By CA Manu T George
Forty years after an eight-year-old city boy was left maimed for life in a car accident, the Bombay High Court on Thursday held that income tax should not have been deducted from the interest on the compensation awarded by the court. The ruling was given by a bench of justices Akil Kureshi and S J Kathawalla on a plea by accident victim Rupesh Shah, now 48.
 How much tax do you need to pay for your equity investments?
By CA Atul Gupta
Among different types of assets, be they financial or physical, equity investments have given the highest returns over the long term. This is the reason why equity assets form a large part of most investors’ portfolios.
 Income Tax Department proposes new norms for taxing MNCs in India
By CA Atul Gupta
The income tax department on Thursday proposed change in the methodology for taxing multinational companies (MNCs), including digital firms, having permanent establishment in India by giving weightage to factors like domestic sales, employee strength, assets and user base.
 Can you claim tax benefit for tax paid on insurance premium? a
By CA Manu T George
Section 80C and 80D of Income-tax Act entitles specified taxpayers to claim deductions for the entire amount paid to the insurance company for specified insurance schemes.
 Top 30 Income Tax Judgments in 2018
By CA Andrew F Thomas
The year 2018 has been a very significant one to the taxation regime due to some important reforms in the laws and procedures. The contribution of the judiciary including the Supreme Court and various High Courts and Tribunals cannot be ignored. Some of the significant tax judgments delivered by the Indian judiciary in this year have been enlisted below.
 Urban Development and Housing Department, Chakradharpur, Jharkhand
By CA Devender Singh
Though adequate care has been taken while issuing this RFP, the applicant Chartered Accountant/ Cost Accountant Firm should satisfy himself that the document is complete in all respects. Intimation of any discrepancy shall be given to this office (as mentioned below) immediately.
More »
Various Acts & Rules   RSS Feeds
 Customs Tariff 2009-10 - PART-II - Chapter 98 - Project imports, Laboratory chemicals, passenger's baggage
By CA Atul Gupta
This Chapter is to be taken to apply to all goods which satisfy the conditions prescribed therein, even though they may be covered by a more specific heading elsewhere in this Schedule.
 Customs Tariff 2009-10 - PART-II - Chapter 97 - Works of art, collectors' pieces and antiques
By CA Atul Gupta
Unused postage or revenue stamps, postal stationery (stamped paper) or the like of heading 4907
 Customs Tariff 2009-10 - PART-II - Chapter 96 - Miscellaneous manufactured articles
By CA Mayank Jain
Articles of Chapter 66 (for example, parts of umbrellas or walking-sticks);
 Customs Tariff 2009-10 - PART-II - Chapter 95 - Toys, games and sports requisites; parts and accessories thereof
By CA Ojas Aggarwal
Toys, games and sports requisites; parts and accessories thereof
 Customs Tariff 2009-10 - PART-II - Chapter 94 - Furniture; bedding, mattresses, mattress supports
By CA Atul Gupta
Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, not elsewhere specified or included; illuminated signs, illuminated name-plates and the like; prefabricated buildings.
 Customs Tariff 2009-10 - PART-II - Chapter 93 - Arms and ammunition; parts and accessories thereof
By CA Nilesh Sahu
telescopic sights or other optical devices suitable for use with arms, unless mounted on a firearm or presented with the firearm on which they are designed to be mounted (Chapter 90);
 Customs Tariff 2009-10 - PART-II - Chapter 92 - Musical instruments; parts and accessories of such articles
By CA Devender Singh
parts of general use, as defined in Note 2 to Section XV, of base metal (Section XV), or similar goods of plastics (Chapter 39);
More »
Department of Companies Affairs   RSS Feeds
 Impose tax on windfall profits of pvt oil cos: CPM tells Govt
 Taxes fuel petrol, diesel prices globally
 Department of Economic Affairs seeks hike in spectrum fee
 Rising yen gives companies the jitters
 ROC Forms
 ROC Circulars
 ROC Notifications
More »
Help   RSS Feeds
 Query
 Suggestions
 Information
 Results
More »
Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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