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News Headlines   RSS Feeds
 What to do if you get an income tax notice after demonetisation
By CA Mayank Jain
The 50 days of demonetisation are behind us and so is the deadline to deposit and convert the demonetized currencies of Rs. 500 and Rs 1000.
 SBI calls for raising income tax exemption limits
By CA Manu T George
Presenting an agenda for the forthcoming Union Budget at a time when banks are flush with funds post-demonetisation, state-run SBI on Monday called for raising various income tax exemption limits to boost economic growth.
 Did you know? The tax exemption on your HRA
By CA Mayank Jain
This is that time of the year when employers ask you to furnish proofs of investments and expenses that qualify for tax deductions.
 Income Tax Department expands list of deposits, transactions under scrutiny
By CA Andrew F Thomas
The income tax department has expanded the list of high-value financial transactions that have to be reported by banks, companies, post offices and businesses to include cash deposits of Rs 2.5 lakh or more during the demonetisation period.
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
By CA Rashmi Sharma
Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
By CA Ojas Aggarwal
A reference is invited to our circular DPSS.CO.OD.494/04.04.009/2011-2012 dated September 21, 2011 prescribing the Access Criteria for Payment Systems.
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
By CA Atul Gupta
Provisional figures incorporated in respect of such banks as have not been able to submit final figures.
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Continuing Prof. Edu.   RSS Feeds
 Discussion on Union Budget, 2017 (Direct & Indirect Taxes) (OTHERS)
By CA S K Verma
Place: Vikas Marg C.A. Study Circle of NIRC Date: 06-02-2017 – To: 06-02-2017 CPE.Hrs.: 4
 Direct Tax: Appeals, Stay Proceeding, Penalties, Taxation Law (Amendment) Act, 2016. and Indirect Tax: Latest Amendment in GST and Existing Indirect Tax. (DIRECT TAXES)
By CA Ojas Aggarwal
Place: Laxmi Nagar CPE Study Circle of NIRC Date: 29-01-2017 – To: 29-01-2017 CPE.hrs.: 6
 GST LAW AND PRACTICAL IMPLICATION (INDIRECT TAXES)
By CA Mayank Jain
Place: PATIALA BRANCH OF NIRC Date: 21-01-2017 – To: 21-01-2017 CPE.Hrs.: 6
 Role of Jurisprudence in Present Tax Scenario and Recent Judicial Pronouncements (DIRECT TAXES)
By CA Manu T George
Place: Rohini CPE Study Circle of NIRC Date: 20-01-2017 – To: 20-01-2017 CPE.Hrs.: 4
 Seminar on Concept of “Opportunities for CA’s in Insolvency Bankruptcy Code & Dispute Resolution Scheme, 2016 & How to resolve Issues while e-filing of Appeals” (OTHERS)
By CA S K Verma
Place: East End CA Study Circle of NIRC Date: 20-01-2017 – To: 20-01-2017 CPE.Hrs.: 4
  Impact of GST and definition of Supply under GST. AND Role of CAs in Benami Transations (Prohibition) Act and taxation laws( 2nd Amendment) Act 2016. (INDIRECT TAXES)
By CA Ojas Aggarwal
Place: West Delhi Study Circle of NIRC Date: 19-01-2017 – To: 19-01-2017 CPE.Hrs.: 4
 Training Programme on GST INDIRECT TAXES
By CA S K Verma
Place: LUDHIANA BRANCH OF NIRC Date: 20-01-2017 – To: 20-01-2017 CPE.Hrs.: 6
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VAT (Value Added Tax)   RSS Feeds
 Import stage VAT under new VAT law
By CA Manu T George
The new VAT law shall come into effect from 1 July, 2017. There are some differences between the provisions of the current VAT law and the new VAT law.
  VAT returns: Relief for traders as UT allows old form
By CA Manu T George
Giving relief to the traders, the Department of Excise and Taxation has kept in abeyance the operation of the amendment made in the VAT Form 15.
  Grant of Registration under DVAT and CST
By CA Atul Gupta
In partial modification of this department's Circular No 06 of 2016-17 Dt 17-05-2016 and in keeping with the reforms being undertaken, under 'Ease of Doing Business' in Department of Trade
 Taxpayers Face Big Financing Costs From VAT Bill 2017
By CA Mayank Jain
Amendments to Mexico's VAT Law will significantly increase the costs for business taxpayers. Cesar De la Parra and Ignacio Mosquera of Chevez, Ruiz, Zamarripa y Cia explain the changes.
 VAT returns: Relief for traders as UT allows old form
By CA Nilesh Sahu
Giving relief to the traders, the Department of Excise and Taxation has kept in abeyance the operation of the amendment made in the VAT Form 15.
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
By CA Devender Singh
The Department of Finance is expected to submit to Congress another version of the first package of its tax policy reform program,
 Understanding VAT refunds
By CA Atul Gupta
In the first part of this series, we discussed the difference in the procedures for processing refund claims for unutilized input Value-Added Tax (VAT)
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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.
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General   RSS Feeds
 Supreme Court agrees to hear plea on imposition of service tax on lawyers
By CA Andrew F Thomas
The Supreme court today agreed to hear several petitions challenging a Bombay High Court order on imposition of service tax on lawyers on service provided by them to the litigants.
 India's tax department signs 3 advance pricing agreements
By CA Andrew F Thomas
Towards fostering a non-adversarial tax regime, India's Income Tax Department on Wednesday signed three advance pricing agreements (APAs) with taxpayers designed to reduce litigation by providing certainty in transfer pricing, an official statement said.
 Income Tax Dept to probe deeper into suspicious bank accounts
By CA Atul Gupta
The Income Tax Department has widened its scrutiny of suspicious transactions postdemonetisation to cover term deposit accounts, loan repayments and advance remittances for imports in the postdemonetisation period.
 Modi may lower taxes to spur demand in his budget sops
By CA S K Verma
Faced with a slump in demand after his shock clampdown on cash, he’s expected to lower taxes in the 1 February budget to spur consumption.
 Tax breather for foreign investors: All you need to know
By CA Rashmi Sharma
Foreign portfolio investors (FPI) can now breathe easy with the Income Tax (I-T) Department on Tuesday putting in abeyance its controversial circular on taxing India-dedicated funds.
 What the increase in tax collections does not tell us about Indian economy post demonetisation
By CA Rashmi Sharma
One of the most interesting questions in Indian macroeconomics today is: how are we faring since late 2016?
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
By CA Andrew F Thomas
How do you celebrate the fifth anniversary of a colossal mistake? For India’s tax department, the answer has to be: Make a new one that’s a thousand times worse, then sit back and enjoy the fun.
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Corporate Law   RSS Feeds
 Registration , Amendment and Cancellation under Revised GST Law
By CA Andrew F Thomas
It is important to understand provision of GST law that when the registration is required like at what value of turnover
 GST council meeting: Law Ministry says only Centre can control traders
By CA Atul Gupta
The Law ministry has said only the central government can control traders under the Integrated Goods and Services Tax (IGST) law and State Governments should not be empowered to levy and collect IGST on inter-state sales and purchases.
 Meaning and Scope of ‘Supply’ – Comparative view under Revised Model GST Law vis-à-vis Earlier Model GST Law
By CA Ojas Aggarwal
Whilst the Government is keen to make Goods and Services Tax (“GST”) a reality by envisaged April 1, 2017
 Tax Tribunal issues order against a law firm for forum shopping
By CA Andrew F Thomas
In an unprecedented order, a tax tribunal has barred cases and appeals filed by a law firm from being heard by any bench headed by one of its judicial members.
 Input Tax Credit under the GST Law
By CA Mayank Jain
Before understanding the Input tax credit under GST Law it is essential to understand the changes made in earlier Law i.e. CENVAT under Rule , 2004 to the new law.
 Tax Return Preparer Under Model ‘gst’ Law
By CA Andrew F Thomas
Section 34(1) of the model Goods and Services Tax Act, 2016 (‘Act’ for short) provides that the appropriate Government may prescribe the manner of approval of Tax Return preparers,
 India unveils first-ever comprehensive draft anti-human trafficking law
By CA Manu T George
Maneka Gandhi, Minister for Women and Child Development, unveiled a draft of the countrys first-ever comprehensive anti-human trafficking law, which would treat survivors as victims in need of assistance and protection rather than as criminals.
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Students   RSS Feeds
 Requirement to Complete Orientation Course (15 Days) in Lieu of GMCS-I for Select Category Of Students
By CA Ojas Aggarwal
The Council of the Institute of Chartered Accountants of India at its 361st Meeting held in December 2016 has decided that the students registered for Practical Training (Articleship) on or after 1st May, 2012
 ICAI opens first cost accounting lab
By CA Rashmi Sharma
The Institute of Cost Accountants of India (ICAI) has commenced a capacity building exercise.
 Next batch of the Certificate Course on Valuation at Mumbai from 7th January, 2017
By CA Devender Singh
The Corporate Laws & Corporate Governance Committee of ICAI is starting next batch for the Certificate Course on Valuation at Mumbai from 07th January, 2017.
 ICAI to conduct commerce test on January 8
By CA Devender Singh
The Institute of Chartered Accountants of India (ICAI) will conduct a talent search examination in Commerce, ‘ICAI Commerce Wizard 2016’ for students of Classes 9 to 12 on January 8, 2017.
  The Chartered Accountants’ Students Benevolent Fund (CASBF)
By CA Andrew F Thomas
The Board of Trustees has decided to provide financial assistance of Rs. 1500/- p.m, for articled assistants who are registered for Intermediate (IPC)/IPCC course and Rs. 2000/- P.M.
 Admit Cards for Intermediate (IPC) and Final November 2016 Examination
By CA Manu T George
Admit cards in respect of candidates admitted to the Intermediate (IPC) and Final November 2016 examination, with their photographs and signatures on them, are hosted on icaiexam.icai.org
  Examination dates of Certificate course on Forex and Treasury Management conducted by Committee on Financial Markets and Investors Protection on 19th and 20th November ,2016
By CA S K Verma
All Candidates are mandatorily required to fill the examination form for confirming their presence on the scheduled examination dates by visiting:
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New Forms   RSS Feeds
  Form DVAT 01 - Application For Opting For Composition Scheme by a dealer registered
By CA Devender Singh
Instructions for dealers opting for composition scheme (For details refer section 16 of the Act and Rule 5 of these rules)
 Requirement of item wise details in Forms Annexure - 2A, Annexure - 2B, DVAT- 30 and DVAT 31
By CA Manu T George
Requirement of item wise details in Forms Annexure - 2A, Annexure - 2B, DVAT- 30 and DVAT 31
 Amendment of ANF 3C Application for on line filing of Grant of Status Certificate
By CA S K Verma
In exercise of powers conferred under paragraph 2.04 of the Foreign Trade Policy 2015-20,
 Regarding Form CR-II.
By CA Manu T George
In exercise of the powers conferred on me under section 27 of Delhi Value Added Tax Act, 2004 and in partial rnodification to the notification No.F.3(628)/Policy/VAT/2016/ 1424-36 dated 11th February,2016
 Filing of reconciliation return in Form 9 for the year 2014-15
By CA Nilesh Sahu
In partial modification to this department's Circular No. 34 of 2015-16 on the subject cited above and in exercise of the powers conferred under Rule 49A of the Delhi Value Added Tax Rules, 2005
  Form DVAT 01 - Application For Opting For Composition Scheme by a dealer registered
By CA Andrew F Thomas
Form DVAT 01 - Application For Opting For Composition Scheme by a dealer registered
 Interest from Non-SLR securities of Banks
By CA Ojas Aggarwal
It has been brought to the notice of the Board that in the case of Banks, field officers are taking a view that, "expenses relatable to investment in non-SLR
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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
More »
ICAI   RSS Feeds
 CPE Events 23th January - 28th January 2016
By CA Nilesh Sahu
CPE Events 23th January - 28th January 2016
 ICAI - PIOB Joint Stakeholders’ Conclave on the theme “Global Audit Oversight: Reconciling Perception Gap” on 9th February 2017, New Delhi
By CA Nilesh Sahu
The Institute of Chartered Accountants of India (ICAI) is in association with the Public Interest Oversight Board Meetings (PIOB) is organizing the Joint ICAI – PIOB Stakeholders Conclave on 9th February 2017 at Hotel Royal Plaza, New Delhi.
 May 2017 CA Examinations
By CA S K Verma
In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the Intermediate (IPC)
 Exposure Draft of Recognition of Deferred Tax Assets for Unrealised Losses (Amendments in Ind AS 12, Income taxes) (January 2017).
By CA Rashmi Sharma
The Board invites comments on any aspect of this Exposure Draft. Comments are most helpful if they indicate the specific paragraph or group of paragraphs to which they relate, contain a clear rationale and, where applicable, provide a suggestion for alternative wording.
 Formatin of Group to suggest norms for making Cooptions in non-standing Committees
By CA Andrew F Thomas
The President, in terms of the authority given to him by the Council at its 351st meeting held on 12th February, 2016, has constituted a Group to suggest norms for making Cooptions in non-standing Committees with the following members
 Constiuttion of a Group for creation of Ombudsman and formulating Whistle Blower Policy
By CA Nilesh Sahu
The President, in terms of the authority given to him by the Council at its 351st meeting held on 12th February, 2016,
 Result Notification Final - Nov 2016
By CA Manu T George
Result Notification Final - Nov 2016
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From the Courts   RSS Feeds
 ACIT vs. Veer Gems (ITAT Ahmedabad)
By CA Ojas Aggarwal
S. 92A Transfer Pricing: Important law explained on meaning of expression "associated enterprise".
  CIT vs. Subhash Vinayak Supnekar (Bombay High Court)
By CA Atul Gupta
S. 54EC: Investment in specified bonds from the amounts received as an advance is eligible for s. 54EC deduction. The fact that the investment is made prior to the transfer of the asset is irrelevant
 Pr. Commissioner Of Income Tax-06 Vs. M/s N.C Cables Ltd.
By CA Nilesh Sahu
The assessee had in its return for the Assessment Year (AY) 2001-02 claimed that sum of `1,00,00,000/- (One Crore) was received towards share
 BDR BUILDERS AND DEVELOPERS PVT. LTD. Vs. THE ASSISTANT COMMISSIONER OF INCOME TAX & ANR.
By CA Devender Singh
The petitioner in these proceedings under Article 226 of the Constitution challenges a notice under Section 147/148 of the Income Tax Act , 1961 (`the Act' for short) issued on 31st March, 2014 for Assessment Year (AY) 2007-08.
 Sports Infratech Pvt. Ltd. & Anr. Vs. Deputy Commissioner Of Income Tax (Hqrs)
By CA S K Verma
The petitioner is aggrieved by an order of the Chief Commissioner of Income Tax under Section 279(2) of the Income Tax Act, 1961
 Delhi High Court interprets applicability of amendments to Arbitration Act
By CA Andrew F Thomas
The changes made in 2015 to the Arbitration Act, under which there is no automatic stay on an award being challenged, would not apply if they affect enforceability of an award in proceedings which commenced before the amendment came into effect on October 23, 2015, the Delhi High Court has said.
  M/s Skin Institute And Public Services Charitable Trust Vs. Commissioner Of Income Tax (Exemption)
By CA S K Verma
At the outset, it is stated by the learned counsel for both parties that another appeal i.e. ITA No. 417/2005,
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Auditing   RSS Feeds
 Time Limit For Completion Of Assessment From The Date Of Special Auditors Report Under Income Tax Act, 1961
By CA Rashmi Sharma
Section 142(2A) of the Income Tax Act, 1961 (Act for short) provides for the conduct of special audit that may directed by the Assessing Officer.
 Provisioning pertaining to Fraud Accounts
By CA Rashmi Sharma
Please refer to circular DBR.No.BP.BC.83/21.04.048/2014-15 dated April 1, 2015 on the captioned subject. On a review, it has been decided to amend the provisioning norms in respect of all cases of fraud, as under:
 Tax Audit Report (TAR) Certain exceptions and increased limits according to number of partners and considering nature of activity are desirable
By CA Devender Singh
Provisions relating to maintenance of accounts and obtaining of TAR are old provisions and we find that very low limits fixed long ago have remain in force for long time.
 Cost Auditing Standards [ Cost Audit Documentation (102)] Part-II
By CA Ojas Aggarwal
In continuation of our effort to make notified Cost Auditing Standards readable, next in line is theCost Auditing Standard on Cost Audit Documentation (102).
 Conference on Companies Act gets under way
By CA Manu T George
The two-day seminar on Companies Act, 2013 New Standards for Corporate Governance being organised by Kakatiya University College of Commerce , Business Management and Institute of Chartered Accounts of India (ICAI), got under way here on Monday.
 New bureau to dissolve state-run banks' power to choose auditors
By CA Ojas Aggarwal
The government is likely to empower the proposed Bank Board Bureau to select audit firms for public sector banks as part of its larger initiative to strengthen their corporate governance practices.
 Foreign Exchange Management (Permissible Capital Account Transactions) (Fourth Amendment) Regulations, 2015
By CA Devender Singh
In exercise of the powers conferred by sub-section (2) of Section 6, sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999),
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Latest Circulars   RSS Feeds
 RBI-Utkarsh Small Finance Bank Limited commences operations
By CA Devender Singh
Utkarsh Small Finance Bank Limited has commenced its operations as a small finance bank with effect from January 23, 2017. The Reserve Bank has issued a licence to the bank under Section 22
 RBI-Auction of Government of India Dated Securities January 23, 2017
By CA S K Verma
The auction for securities will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions.
 Rate of exchange of conversion of the foreign currency with effect from 20th January, 2017
By CA Mayank Jain
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 Excise and Customs No.1/2017
  RBI-Enhancement of withdrawal limits from ATMs and Current Accounts
By CA Atul Gupta
On a review of limits placed on withdrawals from ATMs and current accounts, it has been decided to enhance the same, with immediate effect as under:
 Auction of Government of India Dated Securities January 16, 2017
By CA Mayank Jain
The auction for securities will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions.
  Withdrawal of Legal Tender Character of the Old Bank Notes in the denominations of ₹ 500 and ₹ 1000 and The Specified Bank Notes (Cessation of Liabilities) Ordinance 2016
By CA Ojas Aggarwal
Why was the Scheme of Withdrawal of Legal Tender Character of the old Bank Notes in the denominations of ₹ 500 and ₹ 1000 introduced?
 RBI-Career Opportunities at Reserve Bank Information Technology Pvt Ltd
By CA Atul Gupta
Reserve Bank Information Technology Private Limited (ReBIT), a wholly-owned subsidiary of the Reserve Bank of India (RBI), invites applications for various roles in Cyber Security,
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Budget Extravaganza   RSS Feeds
 Budget 2017: Why Centre must clarify, its intentions on income tax Act
By CA Atul Gupta
Tax systems are fundamental to society. Stability, certainty and consistency in application of tax laws are cornerstones of a sound tax policy.
 Budget may put consumers before taxes to spur demand
By CA Ojas Aggarwal
Faced with a slump in demand after his shock clampdown on cash, he’s expected to lower taxes in the Feb. 1 budget to spur consumption.
 Budget 2017: Income tax payer friendly budget expected; Arun Jaitley may provide sops to boost housing sector
By CA Mayank Jain
This time Budget will be announced one-month in advance, instead of the traditional practice of declaring it on last day of February.
 Are you expecting good tax breaks in Budget 2017? Think again
By CA Devender Singh
Having gone through the demonetisation experience with a smiling face, one of the expectations which has got built up in the mind of the common man is the expectation of good tax breaks in the coming Budget 2017.
 Budget 2017: Home insurance premium should get income tax exemption
By CA Rashmi Sharma
The year 2016 experienced innovations and developments in the insurance industry that brought changes in the sector aimed towards benefiting the customers.
 Demonetisation may be the trigger for any increase in service tax rate this budget
By CA S K Verma
Demonetisation may be one of the reasons for the government to consider an increase in the service tax rate. Reports suggest that till the Goods and Services Tax (GST)
 10 things Arun Jaitley can do to make it a Budget for the middle class
By CA Atul Gupta
The middle class in both metro and semi-urban areas have big expectations from Budget 2017, especially after it had to bear a lot of difficulties due to demonetisation.
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Sales Tax   RSS Feeds
 Tax on high seas sales becomes dispute area
By CA Ojas Aggarwal
The dispute between Centre and the states over jurisdiction is not confined to service outfits with turnover of less than Rs 1.5 crore.
  State extends GST enrolment deadline
By CA Atul Gupta
The sales tax department of the Jharkhand government has given the state's businessmen, whose gross turnover is less than Rs 20 lakh, an extended time for registering an exemptions certificate under the goods and services tax (GST).
 State extends GST enrolment deadline
By CA Mayank Jain
The sales tax department of the Jharkhand government has given the state's businessmen, whose gross turnover is less than Rs 20 lakh, an extended time for registering an exemptions certificate under the goods and services tax (GST).
 To protect its status, state forms panel to draft legislation on GST
By CA Mayank Jain
Days after the Centre downplayed the differences with Jammu and Kashmir over contentious issues in the proposed Goods and Services Tax (GST) Bill,
 India Fails to Break Deadlock on New Sales Tax
By CA Atul Gupta
The Goods and Services Tax is supposed to simplify India’s financial landscape.
 Sales tax staff protest against goods service tax council
By CA S K Verma
The sales tax employees in Aurangabad joined the state-wide pen-down strike to register their protest against alleged unfair policies of the Goods Service Tax (GST) Council.
 Income tax survey on city jeweller
By CA Atul Gupta
The investigation wing of the Income Tax Department, Ludhiana, conducted an income tax (I-T) survey on Nikka Mal Jewellers in Lajpat Nagar market here today.
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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
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ITAT-Constitution of Benches   RSS Feeds
 Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Statement Showing The list of Special Bench Cases Pendign for 2016 as on 16/11/2016
By CA Rashmi Sharma
Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Statement Showing The list of Special Bench Cases Pendign for 2016 as on 16/11/2016
 Income Tax Appellate Tribunal, Pune Benches, Pune Constitution Of Pune Benches. Division Bench From 23/01/2017 To 25/01/2017
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Pune Benches, Pune Constitution Of Pune Benches. Division Bench From 23/01/2017 To 25/01/2017
 Income Tax Appellate Tribunal Ahmedabad Benches Ahmedabad S/shri N.K. Billaiya, Am & Mahavir Prasad, Jm Causelist For Bench 'A' Date : 16/01/2017
By CA Ojas Aggarwal
Income Tax Appellate Tribunal Ahmedabad Benches Ahmedabad S/shri N.K. Billaiya, Am & Mahavir Prasad, Jm Causelist For Bench 'A' Date : 16/01/2017
 Income Tax Appellate Tribunal Mumbai Benches, Mumbai Consolidated Cause List of SA/ MA/Pronouncement for Friday 20.01.2017
By CA Atul Gupta
Income Tax Appellate Tribunal Mumbai Benches, Mumbai Consolidated Cause List of SA/ MA/Pronouncement for Friday 20.01.2017
 Income Tax appellate Tribunal Jaipur Benches Jaipur Constitution of Benches for the Period from 16/01/2017
By CA Rashmi Sharma
Income Tax appellate Tribunal Jaipur Benches Jaipur Constitution of Benches for the Period from 16/01/2017
 Income Tax appellate Tribunal Constitution of Benches for the Period from 16/01/2017 To 09/02/2017
By CA Andrew F Thomas
Income Tax appellate Tribunal Constitution of Benches for the Period from 16/01/2017 To 09/02/2017
 Income Tax Appellate Tribunal, Mumbai Benches Mumbai Consolidated Cause List of SA/MA/Pronouncement for Friday 13.01.2017
By CA Manu T George
Income Tax Appellate Tribunal, Mumbai Benches Mumbai Consolidated Cause List of SA/MA/Pronouncement for Friday 13.01.2017
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Placements & Empanelment   RSS Feeds
 New Opening Asst.general Manager(accounts & Finance) with Leading Shipping Company
By CA Devender Singh
Salary:INR 13,00,000 - 19,00,000 P.A
 New Opening Finance Consolidation & Reporting - Assistant Manager
By CA S K Verma
Salary:INR 10,00,000 - 13,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA, ICWA (CMA)
 Urgent Hiring Fresh Chartered Accountant
By CA Rashmi Sharma
Salary:INR 5,00,000 - 9,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 New Opening Associate - Financial Due Diligence
By CA Andrew F Thomas
Salary:INR 4,25,000 - 7,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
  10 Opening Chartered Accountant, Icwa/cma, CA Inter
By CA Andrew F Thomas
Salary:INR 2,75,000 - 4,25,000 P.A. As per industry standards, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 Urgent Opening Qualified Chartered Accountant (CA)
By CA Nilesh Sahu
Salary:INR 2,00,000 - 4,75,000 P.A. as per company norms, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 New Opening Urgent Hiring Fresh Chartered Accountant ( BIG Four)
By CA Mayank Jain
Salary:INR 5,00,000 - 9,00,000 P.A, Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
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Direct Tax   RSS Feeds
 Companies must drop retro tax cases to avail settlement scheme: CBDT
By CA Nilesh Sahu
Vodafone, Cairn Energy and other firms facing retrospective tax demand will have to withdraw legal cases and give up the right to contest constitutional validity of back-dated amendment to I-T laws if they want to avail of the dispute resolution scheme ending on December 31.
 FinMin may review tax regime on long-term capital gains
By CA Ojas Aggarwal
The finance ministry has been discussing a review of the long-term capital gains (LTCG) taxation regime ahead of the Union Budget 2017-18
 Income tax return: TDS refund on capital gains invested needs to be instant
By CA S K Verma
Although income tax return for a specific financial year is filed in the following year, taxes must be paid within the financial year itself.
 CBDT holds circular on indirect tax provisions
By CA Manu T George
In a significant relief to foreign investors, the Central Board of Direct Taxes has put in abeyance a recent circular clarifying the indirect transfer provisions, which had led to retrospective tax cases like that of Vodafone.
 CBDT puts on hold circular on taxation of indirect transfer of shares
By CA Manu T George
In a move that will provide a respite to foreign portfolio investors (FPIs), venture capital and private equity investors, the central board of direct taxes (CBDT) has decided to put on hold its recent circular on taxation of indirect transfers.
 CBDT prods officials to meet tax collection targets
By CA Mayank Jain
As income tax arrears pile up, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has asked top officials to ensure that the collection target of the net current demand, amounting to Rs 19,407 crore till November, is realised.
 Budget 2017: Direct tax reforms to be gradual than radical, says KPMG
By CA Nilesh Sahu
Taxes’ have been making the headlines very often in the recent past both in India and internationally mainly on account of the conflicting objectives of the tax payer and the tax collector, with the former wanting to minimize his tax cost and the latter wanting to maximize his tax revenues.
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Service Tax   RSS Feeds
 More time sought for GST migration
By CA Nilesh Sahu
Now that the Central government has moved the roll-out of the GST regime to July 1, the All Kerala Distributors’ Association has asked the State government to postpone the deadline for traders’ migration from VAT to GST to February 28.
 GDP may slow down if GST implemented in hurry: Tax officials
By CA Rashmi Sharma
Claiming that demonetisation has affected country's growth, a major central revenue body has asked Finance Minister Arun Jaitley not to implement Goods and Services Tax (GST)
 Goods and Services Tax: Beyond audit & scrutiny, dual control still a grey area
By CA Devender Singh
The states and the Centre may have crossed the first hurdle of evolving a consensus on the long-pending issue of division of control over taxpayers in the ninth meeting of the Goods and Services Tax (GST)
 India to levy service tax on freight for imports on delivered basis
By CA Nilesh Sahu
Overseas exporters chartering foreign vessels to supply goods to India will have to pay a service tax on freight from Sunday, a government notification said.
 Income tax relief must be blended with additional tax measures
By CA Devender Singh
Given there is all round expectation of income tax relief to assuage the demonetisation pains of the people, FM Arun Jaitley may have already decided on lowering of the tax burden through some measures in the Budget to be presented on February 1.
 9th GST Council inks breakthrough on dual control over tax payers, rollout deferred to July 1, 2017
By CA Devender Singh
In an attempt to try and bridge differences on the contentious issues such as administrative control over taxpayers under the Goods and Services Tax (“GST”),
 GST rollout uncertainty hits Budget 2017 calculations
By CA Andrew F Thomas
Uncertainty over the date of the goods and sevices tax (GST) rollout is posing a dilemma for finance mandarins as they finalise this year’s budget.
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Transfer Pricing   RSS Feeds
 Budget 2017: What Clarity Can It Bring To International Taxation And Transfer Pricing?
By CA Nilesh Sahu
In the era of technology, no business is shackled to four corners of a room. Businesses being spread across tax jurisdictions, taxing revenues has proved to be a challenge under existing tax rules.
 ergers and acquisitions: No need to regulate the non-compete fee
By CA Devender Singh
Microsoft New Zealand is bracing for possible action from the taxman.
 World Bank issues guidance on transfer pricing
By CA S K Verma
Transfer pricing is a technical accounting practice used when two arms of the same company, often in different jurisdictions, trade goods or services with one another. It establishes the cost of such transactions based on a similar trade between two unrelated entities in the market.
 Updated Singapore transfer pricing guidance allows simplified method for related party loans
By CA Manu T George
Singapore’s Inland Revenue Authority (IRAS) on January 12 published the fourth edition of its e-Tax Guide on transfer pricing.
 Tax department, Japanese company sign advance pricing pact
By CA Rashmi Sharma
The tax department today signed a Bilateral Advance Pricing Agreement (BAPA) with Indian subsidiary of a Japanese trading company as the department looks to reduce litigations by providing certainty in transfer pricing. Recently, the CBDT has also modified an existing BAPA with another Indian subsidiary of a Japanese company to include rollback provisions, an official statement said.
 CBDT signs three more Advance Pricing Agreements
By CA Rashmi Sharma
The Central Board of Direct Taxes (CBDT) has signed three more unilateral Advance Pricing Agreements (APAs), which takes the total count to 120.
 Transfer pricing: 3-tiered documentation will provide tax authorities with greater ammunition
By CA Nilesh Sahu
With the financial crisis of 2008, the phrase ‘new normal’ gained widespread acceptance. The new normal necessitates new approaches to address it.
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Customs and Excise   RSS Feeds
 Customs and excise officials upset with GST administration deal with states
By CA Devender Singh
Upset at the centre ceding most of taxpayers under the goods and services (GST) to states, the association of Indian Revenue Service Officers from customs and central excise on Monday passed a resolution at its general body that in its present form the proposed tax would not be good for the country.
 Higher petro excise props up govt tax kitty
By CA S K Verma
Finance minister Arun Jaitley has said that indirect tax receipts are up 25% in the April-December period.
 Seeks to further amend notification No. 02/2011-Central Excise dated 1st March, 2011.
By CA Andrew F Thomas
In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944),
  Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
By CA Nilesh Sahu
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 Excise and Customs No.124/2016-CUSTOMS (N.T.)
 Rate of exchange of conversion of the foreign currency with effect from 21st October, 2016
By CA Devender Singh
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 Excise and Customs No.124/2016-CUSTOMS (N.T.)
 Seeks to amend Notification No. 27/2014-Central Excise
By CA Rashmi Sharma
In exercise of the powers conferred by rule 3 of the Central Excise Rules, 2002, the Central Board of Excise and Customs
 Government doubles limit of excise duty evasion for arrest and prosecution
By CA Devender Singh
The government has doubled the limit of excise duty evasion for arrest and prosecution of accused to Rs 2 crore and also asked officials not to resort to penal provision in cases of technical nature.
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Mergers and Acquisitions   RSS Feeds
  Mergers & Acquisitions Advisory Global Market Briefing 2017
By CA Rashmi Sharma
Mergers and Acquisitions Advisory services include helping companies in identifying and implementing opportunities to merge with or acquire other businesses.
 M&As to be favoured route for FDI in 2017
By CA Atul Gupta
Mergers & acquisitions (M&A) are likely to be the favoured route for foreign direct investment flows into India in the year 2017
 M&As seen driving India dollar offerings as bond costs tumble
By CA Mayank Jain
Indian dollar-denominated bond sales are set to accelerate in 2017 as mergers and acquisitions and the cheapest borrowing costs in more than two years drive issuance.
 ECRI Institute Jumpstarts Savings for Hospitals During Mergers and Acquisitions
By CA S K Verma
The No. 1 reason hospital mergers or acquisitions don't make it? Failure to integrate. A precursor to any successful integration is a systematic review of contract portfolios and equipment inventories.
 Swiss mergers and acquisitions thrived in 2016
By CA Ojas Aggarwal
Last year, Switzerland saw its highest volume of mergers and acquisitions since 2007, with investments by Chinese companies playing a leading role.
 Mergers and acquisitions: No need to regulate the non-compete fee
By CA Ojas Aggarwal
It is usual to find non-compete provision in mergers and acquisitions deals. This provision imposes restriction on parties to carry on similar business.
 Sebi tightens rules for mergers & acquisitions among unlisted firms
By CA Nilesh Sahu
Capital market regulator Securities and Exchange Board of India (Sebi) has introduced more checks and balances for mergers and acquisitions (M&A) involving unlisted companies to curb manipulation.
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Indirect Tax   RSS Feeds
 Suspicious bank deposits first in Income Tax’s probe queue
By CA Rashmi Sharma
The income-tax department has begun raising queries with regard to what it thinks are suspicious bank deposits, including those made in cooperative banks, said tax officials and consultants with direct knowledge of the matter.
 Who should you believe on LTCG tax?
By CA Manu T George
To some extent, the low contribution of taxes may also be because of the structure of our tax laws. Low or zero tax rate is given to certain types of financial income.
 Double Income tax exemption limit to Rs 5 lakh: EY surveya
By CA Atul Gupta
The government should double the basic I-T exemption limit to Rs 5 lakh per year and continue with incentives and deductions to corporate houses for stimulating consumption demand and propel private investment post demonetisation, a EY survey said.
 Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
By CA Andrew F Thomas
The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016
 Tax department circular on indirect transfer put on hold
By CA Devender Singh
The government put on hold a controversial circular on the taxation of indirect transfers of Indian assets and may amend the income tax law to provide stability and clarity to foreign portfolio investors
 Rising share of indirect taxes a step back to regressive era
By CA Mayank Jain
Indirect taxes as a proportion of total taxes have begun to increase since 2009-10, after falling in the years before that, especially post-liberalization.
 Double-digit Increase in Direct, Indirect Tax Collection, Says Arun Jaitley
By CA Ojas Aggarwal
The currency squeeze in November and December has failed to hit revenue mop up, with direct and indirect tax collection from April to December showing a double-digit increase, Finance Minister Arun Jaitley said on Monday.
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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 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);
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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.
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