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News Headlines   RSS Feeds
 Who can file tax returns under presumptive taxation scheme
By CA Nilesh Sahu
If you are planning to opt for the presumptive taxation scheme (PTS) to file your tax return from the next assessment year (AY), AY2017-18
 Income tax dept notifies amendments for sharing taxpayer information
By CA Atul Gupta
The income-tax department has paved the way for seamless exchange of information between various government agencies to check illegal wealth.
 Seven things you must do before 31st March
By CA Rashmi Sharma
As we are approaching towards the end of this financial year, there are certain things we should do before the year comes to an end. This article discusses all those things for the benefit of our readers.
 Income Tax saving investments: Top 5 options available for high-income individuals
By CA Rashmi Sharma
The Finance Bill 2017 has proposed a surcharge of 10% of total taxes for taxpayers having income between R50 lakh to R1 crore. The net impact on the taxpayer having income above R50 lakh would be negative.
 How to use zero tax rule on long term capital gains on stocks
By CA Mayank Jain
There are tax benefits that are available for several investments and one has to look at these in detail to see the extent to which they can be claimed.
 GST Returns - Furnishing details of inward supplies
By CA Andrew F Thomas
Every registered taxable person, other than an input service distributor or a nonresident taxable person or a person paying tax under section 9, section 46
 5 ways to maximise you income tax return
By CA Mayank Jain
Taxes are unavoidable but you can surely minimize its impact by filing the Income Tax return every year. Whether you have invested your money or made large payments against loans, travel or insurance it's time to look back at the year to maximise your deductions and thereby lower your tax burden.
More »
Continuing Prof. Edu.   RSS Feeds
 GST Model Law Indirect Taxes
By CA Ojas Aggarwal
Place: North Campus Study Circle of NIRC Date: 01-03-2017 – To: 01-03-2017 CPE.Hrs.: 5
 GST (Importance Of 1st Return And Automatic Etc.) Gst Reconciliation Pre-GST & Post GST Indirect Taxes
By CA Atul Gupta
place: PATIALA BRANCH OF NIRC Date: 09-03-2017 – To: 09-03-2017 CPE.Hrs.: 3
 GST MODEL LAW (INDIRECT TAXES)
By CA S K Verma
Place: North Campus Study Circle of NIRC Date: 01-03-2017 – To: 01-03-2017 CPE.Hrs.: 5
  Discussion on Benami Transactions (Prohibition) Amendment Act, 2016, Overview of Goods and Service Tax & Practical aspect relating to Bank Audit- Concurrent/Statutory (INDIRECT TAXES)
By CA Ojas Aggarwal
Place: YAMUNA NAGAR BRANCH OF NIRC Date: 24-02-2017 – To: 24-02-2017 CPE.Hrs.: 4
 GST-Concept of Supply,Recent updates including service of notice (INDIRECT TAXES)
By CA Devender Singh
Place: Tri Nagar Keshav Puram CPE Study Circle of NIRC Date: 19-02-2017 – To: 19-02-2017 CPE.Hrs.: 6
 Discussion on Benami Transactions (Prohibition) Amendment Act, 2016, Overview of Goods and Service Tax & Practical aspect relating to Bank Audit- Concurrent/Statutory (INDIRECT TAXES)
By CA S K Verma
Place: YAMUNA NAGAR BRANCH OF NIRC Date: 24-02-2017 – To: 24-02-2017 CPE.Hrs.: 4
 GST-Concept of Supply,Recent updates including service of notice INDIRECT TAXES
By CA Devender Singh
Place: Tri Nagar Keshav Puram CPE Study Circle of NIRC Date: 19-02-2017 – To: 19-02-2017 CPE.Hrs.: 6
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VAT (Value Added Tax)   RSS Feeds
 Date for filing quarterly VAT returns extended
By CA Andrew F Thomas
Traders have breathed a sigh of relief with the Excise and Taxation Department extending the last date for filing VAT-15 returns for the third quarter of 2016-17 till February 20.
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
By CA Andrew F Thomas
The reconciliation return in CST form 9 relating to declaration of sales against statutory forms are required to be filed by all such dealers who had effected interstate sale against any statutory form like C, F, H, E-I, E-II, I & J.
 CENVAT Credit (Amendment) Rules, 2017
By CA Nilesh Sahu
In exercise of the powers conferred by section 37 of the Central Excise Act,1944 (1 of 1944) and section 94 of the Finance Act, 1994 (32 of 1994),
 VAT to Give Way to Consumption Tax
By CA Andrew F Thomas
Consumption tax will replace value added tax as of next year (March 2017-18) as per a motion proposed by the Majlis Joint Budget Commission.
 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
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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
 Tax savings that do not actually help save much
By CA Mayank Jain
I find it utterly amazing how focused many people are on not paying tax, even if they actually end up losing money overall by not doing so.
 Indirect tax officers seek PM Modi’s intervention for smooth roll-out of GST
By CA Rashmi Sharma
The Indian Revenue Service (Customs and Central Excise) Officers' Association said that states have no experience of Service Tax which is very different as a concept.
 Income Tax and Budget 2017: Here’s all you need to know about tax maths for let-out property
By CA Mayank Jain
Last weekend, I went to the house warming party hosted by my friend Jijo. But he looked a little worried and when I asked him the reason, he said, “What should I do with the second house?
 Tax Department To Launch 2nd Phase Of Bank Accounts' Scrutiny Next Month
By CA Rashmi Sharma
The I-T department is likely to launch the second phase of 'Operation Clean Money' next month to close in on unaccounted money making its way into banks but may ignore standalone deposits below Rs. 5 lakh for now.
 How to claim tax benefit on tuition fees under Section 80C
By CA Mayank Jain
Sending kids to school has an inbuilt tax advantage for the parents as the tuition fee qualifies for tax benefit under Section 80C of the Income Tax Act, 1961. The amount of tax benefit is within the overall limit of the section of Rs 1.5 lakh a year.
 Online Income Tax grievance redressal facility launched at 60 offices
By CA Manu T George
After launching the ambitious e-nivaran facility for online redressal of taxpayers' grievances, the Income Tax Department has now opened these windows at its 60 special offices across the country.
 Demonetisation impact on government tax revenue marginal; direct tax personal income grew at above budget estimates
By CA Andrew F Thomas
Whatever the government or its detractors say, the demonetisation move announced on November 8 has had little impact either way on the Centre’s tax revenue in the current fiscal year.
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Corporate Law   RSS Feeds
 Taxation Laws (Second Amendment) Act, 2016 ​​​​​​​​​​​​​​​​​​​​​​​​​​​​
By CA Mayank Jain
In the Income-tax Act, 1961 (hereinafter referred to as the Income-tax Act), in Amendment of section 115BBE, for sub-section (1),
 Glimpse of Invoices Revised Model GST Law
By CA Nilesh Sahu
The esteemed vision of Hon’ble Prime Minister to create a digital and paper less economy cannot be crystalize without the digitalization of documentation and removal of hurdle of hard document.
 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.
More »
Students   RSS Feeds
 Applicability of Income Computation and Disclosure Standards (ICDSs) for May 2017 Examination
By CA Manu T George
The Central Government had, vide Notification No.S.O.892(E) dated 31.3.2015, in exercise of the powers conferred by section 145
 Scholarships for CA Students
By CA Mayank Jain
Board of Studies, ICAI invites applications for the award of Scholarships to the selected candidates to be paid from April 1, 2017
 Campus Placements for Articleship and Industrial Training
By CA Rashmi Sharma
It was felt that many students could not approach firms / Industries on account of inadequate information, resources and also due to lack of reference/connection.
 Applicable Material for Intermediate (IPC) and Final Course FINAL
By CA Andrew F Thomas
Applicable Material for Intermediate (IPC) and Final Course FINAL
 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.
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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
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ICAI   RSS Feeds
 Post-Budget Memorandum - 2017 Direct Taxes And International Tax
By CA Devender Singh
The Council of the Institute of Chartered Accountants of India considers it a privilege to submit this Post-Budget Memorandum to the Government.
 CPE Events 27th February - 4th March 2017
By CA S K Verma
CPE Events 27th February - 4th March 2017
 Guidance Note on Audit of Banks 2017 edition issued by the Auditing and Assurance Standards Board
By CA Mayank Jain
The Auditing and Assurance Standards Board of the ICAI has today issued the Guidance Note on Audit of Banks 2017 edition. For the benefit of the members, complete text of the Guidance Note and the contents of accompanying CD can be downloaded at the following links:
 Constitution of Group to consider the entire structure to study circles, exploring ways and means to obtain independent PAN, TAN, Service Tax registration
By CA Andrew F Thomas
The President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017,
 Group for formulating Foreign Travel Policy of the Institute
By CA Nilesh Sahu
The President, in terms of the authority given to him by the Council at its 363rd meeting held on 12th February, 2017, has constituted a Group for formulating Foreign Travel Policy of the Institute, with the following composition:-
 Register for Webinar Organized By CPA Ontario in Association with Canada (Toronto) Chapter of ICAI on March 15, 2017.
By CA Andrew F Thomas
We are pleased to inform you that the Chartered Professional Accountants of Ontario (CPA Ontario), in association with Canada (Toronto) Chapter of the Institute of Chartered Accountants of India (ICAI)
 CPE Events 20th February - 25th February 2017
By CA Atul Gupta
CPE Events 20th February - 25th February 2017
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From the Courts   RSS Feeds
 HITT Holland Institute of Traffic Technology B.V. vs. DDIT (ITAT Kolkata)
By CA S K Verma
Entire law on Permanent Establishment, Force of Attraction principle, taxability of software embedded in hardware as royalty, make available of technical services etc explained (all important judgements referred)
 Nagarjuna Fertilizers and Chemicals Limited vs. ACIT (ITAT Hyderabad) (Special Bench)
By CA Ojas Aggarwal
S. 206AA does not have an overriding effect over the other provisions of the Act. By virtue of s. 90(2), the provisions of the Treaty override s. 206AA to the extent they are beneficial to the assessee. Consequently, the payer cannot be held liable to deduct tax at higher of the rates prescribed in s. 206AA in case of payments made to non-resident persons in spite of their failure to furnish the PAN
  CIT vs. India Advantage Fund-VII (Karnataka High Court)
By CA Atul Gupta
S. 164: The explanation to s. 164 cannot be read for determinability of the shares of the beneficiary with the quantum on the date when the Trust deed is executed. The real test is whether shares are determinable even when even or after the Trust is formed or may be in future when the Trust is in existence
 M/S TEJ QUEBCOR PRINTING LTD. Vs. JOINT COMMISSIONER OF INCOME TAX
By CA Devender Singh
The questions of law framed in this case on 08.02.2005 are as follows:-
 Principal Commissioner Of Income Tax (Central) Vs. M/s A2z Maintenance & Engineering Services Ltd.
By CA S K Verma
The Revenue in this appeal under Section 260A of the Income Tax Act, 1961
 Pr. Commissioner Of Income Tax-19 Vs. Shri Neeraj Jindal
By CA Ojas Aggarwal
These four appeals by the revenue, under Section 260-A of the Income Tax Act, ("the Act") are directed against four separate orders of the Income Tax Appellate Tribunal (Delhi Bench)
 Rollatainers Ltd. Vs. Commissioner Of Income Tax
By CA Atul Gupta
This is an assessee's appeal under Section 260A of the Income Tax Act, 1961
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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 launches the March 2017 Round of Consumer Confidence Survey (CCS)
By CA Mayank Jain
The Reserve Bank of India has been regularly conducting Consumer Confidence Survey (CCS). The March 2017 round of the Survey is now being launched.
 Sovereign Gold Bonds, 2016-17 – Series IV - Operational Guidelines
By CA Manu T George
This has reference to the GoI notification F.No. 4(16)-B(W&M)/2016 and RBI circular IDMD.CDD.No.2187/14.04.050/2016-17 dated February 23, 2017
 Sovereign Gold Bond Scheme 2016 -17 - Series IV - Issue Price
By CA Andrew F Thomas
In terms of Government of India notification F. No. 4(16)-W&M/2016 and RBI circular IDMD.
 Master Direction – Money Transfer Service Scheme (MTSS)
By CA Nilesh Sahu
Reserve Bank has the powers under Section 10(1) of the Foreign Exchange Management Act, 1999, to accord necessary permission (authorization) to any person to act as an Indian Agent under the Money Transfer Service Scheme.
 Payment Systems - Next Orbit (Shri R. Gandhi, Deputy Governor - February 20, 2017 - at the launch of Bharat QR Code at Hotel Trident, Mumbai)
By CA Atul Gupta
The QR code development for card payments in India has happened at the most appropriate time; we are on the threshold of a digital payments ‘moment’ and ‘movement’.
 Financing MSMEs: Banks & FinTechs – Competition, Collaboration or Competitive Collaboration? (Shri S. S. Mundra, Deputy Governor – February 20, 2017 – at the NAMCABS Seminar organized by College of Agricultural Banking in Mumbai)
By CA Mayank Jain
Mr. Simon Bell, Global lead, SME Finance, World Bank Group; Smt. Surekha Marandi, Executive Director, Reserve Bank of India; Shri P. K. Panda, Principal, College of Agricultural Banking(CAB);
 Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors
By CA Devender Singh
Attention is invited to the RBI notification ref. no. MPD.BC.187/07.01.279/1999-2000 dated July 07, 1999.
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Budget Extravaganza   RSS Feeds
 Budget 2017 does little to expand taxpayer base, salaried still bear brunt of taxes
By CA Rashmi Sharma
Indian society is generally tax non-compliant - quoted by Finance Minister Arun Jaitley during his Budget 2017 speech. He also shared following interesting data relating to tax returns filed by the individuals, during the year 2015-16:
 Six things Finance Minister did not tell you in Budget 2017
By CA S K Verma
The God, as they say, is in the details. While we have read the immediate analysis of the Budget speech, there is more to the Budget proposals. Read more to find what impacts you.
 Budget 2017 and its place in history
By CA Rashmi Sharma
On 1 July, if all goes to plan, the country would have formally transitioned to the goods and services tax (GST)
 Tax Dept need not reveal reason for raid even to Appellate Tribunal, proposes Budget 2017
By CA Ojas Aggarwal
Budget 2017 was delivered at a time when one is still reeling under the impact of demonetisation.
 Budget 2017 proposes a fee for delayed filing of income tax return
By CA Manu T George
Taxpayers who do not file their Income Tax Returns (ITRs) on time will have to shell out a penalty of upto Rs 10,000, but from the 2018-19 Assessment Year (AY).
 No Cash Transactions Over Rs 3 Lakhs, Reduction In Income Tax And Other Highlights From Budget 2017
By CA Manu T George
No Cash Transactions Over Rs 3 Lakhs, Reduction In Income Tax And Other Highlights From Budget 2017
 Union Budget 2017: Here are the expectations of real estate sector
By CA Rashmi Sharma
Three colossal challenges facing the sector today are access to low-cost finance, a painfully tedious process of getting project approvals and little clarity on land titles.
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Sales Tax   RSS Feeds
 Arun Jaitley May Lower Corporate And Income Tax Rates But Hike The Service Tax Rate
By CA Ojas Aggarwal
The surprise 22 percent increase in tax revenue in the April to December 2016 period suggests the government may exceed its tax collection target for financial year 2016-17. That in turn suggests the government may have some room to increase expenditure without ditching fiscal discipline. Unfortunately, that may not be the case.
 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.
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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 Appellate Tribunal Bangalore Benches Bangalore "A" Bench DB Cases Causelist for the week from 27/02/2017 To 02/03/2017
By CA S K Verma
Income Appellate Tribunal Bangalore Benches Bangalore "A" Bench DB Cases Causelist for the week from 27/02/2017 To 02/03/2017
 Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri R.P. Tolani, JM & Amarjit Singh, AM Causelist For Bench 'A' Date : 27/02/2017
By CA Andrew F Thomas
Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri R.P. Tolani, JM & Amarjit Singh, AM Causelist For Bench 'A' Date : 27/02/2017
 Income Tax Appellate Tribunal Lucknow Benches , Lucknow Constitution From : 27/02/2017 To 03/03/2017
By CA Nilesh Sahu
Income Tax Appellate Tribunal Lucknow Benches , Lucknow Constitution From : 27/02/2017 To 03/03/2017
 Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri R.P. Tolani, JM & Amarjit Singh, AM Causelist For Bench 'A' Date : 27/02/2017
By CA Devender Singh
Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri R.P. Tolani, JM & Amarjit Singh, AM Causelist For Bench 'A' Date : 27/02/2017
 Income Tax Appellate Tribunal Chennai Benches Chennai Constitution For The Week From 20/02/2017 To 23/02/2017 (24102/2017 Declared As Closed Holidav)
By CA Ojas Aggarwal
Income Tax Appellate Tribunal Chennai Benches Chennai Constitution For The Week From 20/02/2017 To 23/02/2017 (24102/2017 Declared As Closed Holidav)
 Income Tax Appellate Tribunal Bangalore Benches , Bangalore Causelist for the Week from : 13/02/2017 To 16/02/2017
By CA Andrew F Thomas
Income Tax Appellate Tribunal Bangalore Benches , Bangalore Causelist for the Week from : 13/02/2017 To 16/02/2017
 Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri N.K. Billaiya, Am & Mahavir Prasad, JM Causelist For Bench 'B' Date : 13/02/2017
By CA Nilesh Sahu
Income Tax Appellate Tribunal Ahmedabad Benches , Ahmedabad S/shri N.K. Billaiya, Am & Mahavir Prasad, JM Causelist For Bench 'B' Date : 13/02/2017
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Placements & Empanelment   RSS Feeds
  100 Opening Financial Analysts at XL Dynamics India Pvt. Ltd
By CA Manu T George
Functional Area:Financial Services , Banking , Investments , Insurance, PG:M.A, M.Com, MBA/PGDM,
  New Opening Chartered Accountants
By CA Rashmi Sharma
Salary:INR 4,75,000 - 9,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
  New Urgent Requirement For Chartered Accountant
By CA Manu T George
Salary:INR 3,00,000 - 8,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
  New Urgent Requirement For Chartered Accountant
By CA Manu T George
Salary:INR 3,00,000 - 8,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
  New Opening Chartered Accountant - Compliances and Merger & Acqusitions
By CA Rashmi Sharma
Salary:INR 3,50,000 - 4,50,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA
 20 Opening Chartered Accountant, Financial Services
By CA Andrew F Thomas
Salary:INR 3,00,000 - 7,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 10 Opening Chartered Accountant , Finance
By CA Nilesh Sahu
Salary:INR 1,00,000 - 4,50,000 P.A., Industry:Accounting / Finance, PG:CA
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Direct Tax   RSS Feeds
 Income tax officers should not threaten taxpayers: CBDT
By CA Ojas Aggarwal
Income tax officials assessing taxpayers flagged under Operation Clean Money have been told to ensure they use “polite language, without an element of threat or warning” in their communications.
 Non-payment of TDS by mumbai companies: Showcause notices to over 300 firms
By CA Atul Gupta
The Income Tax (I-T) department in Mumbai has issued prosecution show-cause notices to over 300 private and public firms for non-payment of tax deducted at source (TDS) for fiscal 2016 and 2017. The I-T department has also launched prosecution against at least 20 such companies and their directors in Mumbai courts, sources familiar with the development told The Indian Express.
 In some instances, filing of income tax return may not be mandatory
By CA Devender Singh
My mother is 73 years old and has a Permanent Account Number (PAN) but does not file tax returns. She has an annual income of about Rs60,000 from fixed deposits.
 Best 5 Income Tax-Saving SIP plans in India: How To save taxes by Investing in SIPs under 80C
By CA Nilesh Sahu
Income tax and tax-saving become imperative as the financial year comes to an end in March. The end of march brings with it several young investors struggling to put their money in the right plans to save their taxes.
 Tax refund checks are finally in the mail
By CA Mayank Jain
If you qualified for the earned income tax credit or the additional child tax credit, and you turned in your return early — considering tax season started on Jan. 23 — the IRS started distributing refunds on Feb. 15.
 Income Tax dues in advance can be paid at RBI or at authorised bank branches by March 2017
By CA S K Verma
The Reserve Bank of India has appealed to income tax assessees to remit their income tax dues sufficiently in advance of the due date.
 Why you must be looking beyond tax planning
By CA Atul Gupta
What exactly drives your investment plan and your investment process? You can reasonably assume that in majority of the cases the investment process is essentially driven by the need to save tax.
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Service Tax   RSS Feeds
 Central excise organizes seminar on GST
By CA Rashmi Sharma
The central excise division of Waghodia, commissionerate Vadodara II recently organized a seminar on Goods and Services Tax (GST) under the GST Outreach Program in the city.
 Kerala tops in GST registrations
By CA Andrew F Thomas
Kerala has achieved the maximum number of registrations under the Goods and Services Tax (GST) regime with at least 60 per cent of an estimated 2.5 lakh traders migrating to the new platform.
 GST tax structure ready; how will it impact economy and various sectors
By CA Ojas Aggarwal
The passage of the Constitutional Amendment Bill on GST has paved the way for introduction of GST in India, likely in H1FY18.
 Service tax department doles out advice on migration to GST
By CA Devender Singh
Preparing for the eventual rollout of the Goods and Service Tax (GST) from July 1 onwards, the South Goa district office of the commissioner of customs, central excise and sales tax, on Tuesday, organized a seminar for those facing difficulties regarding migration from the present service and central excise taxes to GST.
 IT infrastructure firm of GST under scrutiny for tax evasion
By CA Andrew F Thomas
The Goods and Services Tax Network (GSTN) that is creating the IT backbone for the new indirect tax regime, is under scrutiny for probable tax evasion.
 GST council OKs draft law on relief to states
By CA Nilesh Sahu
Prospects of a rollout of the Goods and Services Tax (GST) by July 1 brightened with the GST Council approving on Saturday a draft law that seeks to compensate states fully in case of revenue loss as a result of the tax reform.
 GST Network gets notice for avoiding service tax
By CA Manu T George
GST Network Pvt Ltd (GSTN), which will provide the information technology and network backbone for the upcoming Goods and service Tax (GST), has been summoned for alleged service tax avoidance.
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Transfer Pricing   RSS Feeds
 Secondary adjustments to become a reality under Indian transfer pricing regime
By CA Manu T George
Since introduction of transfer pricing (TP) provisions almost a decade and a half back, Indian TP landscape has been constantly evolving in order to keep pace with the economic realities of the world as well as the international best practices.
  Budget introduces secondary adjustments in transfer pricing
By CA Rashmi Sharma
Seeking to align transfer pricing norms with OCED guidelines, Finance Minister Arun Jaitley today proposed introduction of a new section in the I-T Act to allow secondary adjustments in books of accounts to reflect actual allocation of profits between a company and its arm.
 Transfer pricing: Centre moves forward, introduces ‘secondary adjustments’
By CA Andrew F Thomas
India has taken the next big step in its transfer pricing framework with the Budget ushering in the concept of ‘secondary adjustments’.
 Domestic transfer pricing leeway provides a loophole for Indian companies
By CA Manu T George
Even as the government removed an irritant of domestic transfer pricing, industry trackers said this could lead to some companies exploiting it as a loophole.
 Budget introduces secondary adjustments in transfer pricing
By CA Rashmi Sharma
Seeking to align transfer pricing norms with OCED guidelines, Finance Minister Arun Jaitley today proposed introduction of a new section in the I-T Act to allow secondary adjustments in books of accounts to reflect actual allocation of profits between a company and its arm.
 Transfer Pricing Rules – 2017 novelties
By CA Mayank Jain
Having adopted the amendments to the Tax Code of Ukraine on December 21 the Parliament of Ukraine included several unexpected surprisesto the taxpayers for the year 2017.
 OECD BEPS transfer pricing rules likely to cost multinationals, but not the IRS
By CA Devender Singh
The Organization for Economic Cooperation and Development’s revised guidance on transfer pricing to prevent base erosion and profit shifting,
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Customs and Excise   RSS Feeds
 Rate of exchange of conversion of the foreign currency with effect from 3rd February, 2017
By CA S K Verma
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962),
 Budgetary Changes In Customs
By CA Mayank Jain
Changes are more in Customs Act by Finance Bill, 2017 than in Central Excise and Service Tax. The changes meant for customs are discussed in this article.
 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.)
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Mergers and Acquisitions   RSS Feeds
  Govt to explore mergers & acquisitions across state-run units
By CA Rashmi Sharma
The government will explore mergers & acquisitions (M&As) in not just the oil sector but in all state-run enterprises, a senior finance ministry official said on Friday
 Government to explore mergers & acquisitions across state-run units
By CA Mayank Jain
The government will explore mergers & acquisitions (M&As) in not just the oil sector but in all state-run enterprises, a senior finance ministry official said on Friday, while asserting that all efforts would be made to meet the disinvestment target of Rs 72,500 crore for the current financial year.
 Govt mulls merger of 6 consultancy firms into Engineers India
By CA Manu T George
The Government is mulling the merger of about half a dozen state-owned consultancy firms like Engineering Projects (India) Ltd with Engineers India Ltd (EIL) to create a mega consultancy firm that can take on the might of global giants like Bechtel.
 13 Design Industry Mergers & Acquisitions
By CA Devender Singh
A subsidiary of commercial interior design product distributor Sangetsu Corporation has purchased Koroseal Interior Products, another distributor.
 25 anesthesia mergers & acquisitions in the past year
By CA S K Verma
Here are 25 anesthesia group mergers, acquisitions and partnerships over the past year.
 3 Big Mergers & Acquisitions That We Could See in 2017
By CA Ojas Aggarwal
It looks like 2017 is likely to be a big year for mergers & acquisitions. Several factors have come together over the past few months that have made the coming year ripe for consolidation.
 Govt mulls merger of six consultancy firms into Engineers India
By CA Atul Gupta
Government is mulling the merger of about half a dozen state-owned consultancy firms like Engineering Projects (India) Ltd with Engineers India Ltd (EIL) to create a mega consultancy firm that can take on the might of global giants like Bechtel.
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Indirect Tax   RSS Feeds
 Central indirect tax officers seek redressal of flaws in GST’s final design
By CA S K Verma
The representative body of central indirect tax officers has written to Prime Minister Narendra Modi flagging concerns over the agreements reached with the states on the final design of the goods and services tax (GST).
 How it affects long-term capital gains tax calculations
By CA Manu T George
Under the present tax laws, a person is taxed on profit from the sale of any immovable asset held as a capital asset, under the head ‘capital gains’.
 Should you opt for 'consultant' status to lower tax outgo?
By CA Nilesh Sahu
Are you considering shifting from an employment arrangement with your company to a ‘consultant’ status to lower your tax outgo leading to higher take home package?
 Income Tax department to issue ‘non-statutory’ letters in case of no reply
By CA Ojas Aggarwal
Over Rs4.5 lakh crore worth of suspicious deposits by 18 lakh people are under “verification” by the income tax (I-T) department, which will send “non-statutory” letters to those who have not responded to SMS and e-mail queries.
 E-commerce majors seek removal of tax at source on sellers
By CA Atul Gupta
E-commerce majors Flipkart, Amazon, and Snapdeal, among others, are trying to convince the government into removing a 2 percent tax at source that needs to be collected
 New direct tax regime would benefit state
By CA Rashmi Sharma
Senior tax consultant and GST exponent RS Goyal has said Madhya Pradesh would get immense benefit from Goods and Service Tax (GST). The new tax will also help traders as there would be no ‘double taxation’.
 Indirect tax collections increase by 16.9 per cent in January
By CA Nilesh Sahu
India’s tax collections continued to grow at a healthy rate in January, suggesting that the government is on track to achieve its revised tax target for the current fiscal.
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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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