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Latest Expert Exchange
News Headlines   RSS Feeds
 5 Simple tips to save income tax at the eleventh hour
By CA S K Verma
Tax saving is a year-long process and not a last-minute activity. However, if you haven’t done the needful yet, here are some easy options to go to without having to shell out a lot of money.
 6 fixed income investments to help you save tax under section 80C
By CA Mayank Jain
Fixed income instruments are typically meant for risk-averse investors who want safety of capital and assured returns. Along with these two aspects, schemes like the Public Provident Fund (PPF), National Savings Certificate (NSC)
 How much tax can you save via tax saving investments, expenditures?
By CA Andrew F Thomas
While doing your tax saving exercise you should be aware of the amount of tax you are likely to save from all your tax-saving investments and expenditures. Not everyone will save the same amount of tax by investing equal amounts. Someone in the 5 percent tax bracket can save only a maximum of Rs 7,800 under section 80C, as per rules for FY2018-19.
 5 tax saving mistakes millennials need to watch out for Income Tax Saving
By CA S K Verma
Millennials today manage their own finances. BankBazaar’s Aspiration Index’ data suggests 91% of India’s millennials between the age of 25 years and 35 years manage their own finances.
 Tax-saving 101 for young earners
By CA Nilesh Sahu
Oh no you are not alone on that boat sister! I get my tax stuff cross checked by my mother! And it is not just me.. a lot of people leave it to their trusted CAs or anyone who has any kind of accountancy background. I can only imagine how daunting it might be for people who have just started.. how hard to scurry through and get out of this maze!
 4 important tax benefits of buying a house jointly
By CA Ojas Aggarwal
Buying a house is a dream for millions of people in India. The government has provided various tax benefits to individuals to encourage them to buy a house property under the 'housing for all' initiative.
 5 best ways to invest and save tax at the last minute Last minute tax saving tips
By CA Nilesh Sahu
Considering there are only a few days to go by before the tax season comes to an end, taxpayers will have to handpick some quick and smart options to reduce their tax outgo.
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Continuing Prof. Edu.   RSS Feeds
 GST Inverted Duty Refunds and Recent Changes in GST Law
By CA Andrew F Thomas
Place: Amritsar Branch Of NIRC Date: 24-03-2019 – To: 24-03-2019 CPE.Hrs.: 4
 Seminar on Bank Audit MSME Form 1 and other ROC complaince Form
By CA Nilesh Sahu
Place: Rewari Branch of NIRC of ICAI Date: From: 23-03-2019 – To: 23-03-2019 CPE.Hrs.: 5
 Companies Registered Valuers & Valuation Rules 2017 And Insolvency & Bankruptcy Code 2016
By CA Rashmi Sharma
Place: Delhi Gate CPE Study Circle of NIRC Date: 30-03-2019 – To: 30-03-2019 CPE.Hrs.: 3
 Seminar on Recent Developements & Compliances in Companies Act,2013
By CA Andrew F Thomas
Place: Mayur Vihar CPE Study Circle of NIRC Date: 31-03-2019 – To: 31-03-2019 CPE.Hrs.: 4
 Seminar on Bank Audit, Latest Companies Act Amendments & Benami Property Transactions
By CA Atul Gupta
Place: Himachal Pradesh Branch Of NIRC Date: 23-03-2019 – To: 23-03-2019 CPE.Hrs.: 6
 Bank Audit and Discussion on Unregulated Deposits Schemea
By CA Mayank Jain
Place: Tri Nagar Keshav Puram CPE Study Circle of NIRC Date: 19-03-2019 – To: 19-03-2019 CPE.Hrs.: 5
 RBI-Trade Credit Policy – Revised framework
By CA Devender Singh
Attention of Authorised Dealers is invited to the rationalised principal regulation governing the External Commercial Borrowings (ECB) and Trade Credits already notified on December 17, 2018 through the Foreign Exchange Management (Borrowing and Lending) Regulations, 2018
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GST - Goods and Services Tax   RSS Feeds
 GST Council approves transition plan for new GST rates
By CA Devender Singh
GST council today approved a transition plan for new goods and services tax rates on residential properties under which developers of under-construction buildings may either opt to shift to the revised lower rates without input tax credit or stick to the previous rates.
 Builders can choose between two tax rates on incomplete projects
By CA Nilesh Sahu
Builders can now choose between two different tax rates in case of incomplete residential projects, the Goods and Services Tax (GST) Council said on Tuesday. The new reduced tax rates will kick in from April 1.
 GST Council may discuss new rate structure on under-construction housesa
By CA Ojas Aggarwal
GST Council will work out a formula that will clarify the extent to which a developer can avail the input-tax credit In its 34th meeting scheduled on Tuesday, the Goods and Services Tax (GST) Council will discuss
 GST meet on real estate tax, Xiaomi launch, Jet crisis: Top events of today
By CA Rashmi Sharma
From GST meet over lowering tax rate for the real estate sector to Xiaomi's Android Oreo Go launch, here are some of the most important news events scheduled for today that will be keenly watched
 GST Council to streamline implementation of lower GST rates for real estate
By CA Andrew F Thomas
The GST Council meeting is likely to deliberate only the transition provision and related issues for the implementation of lower GST rates for the real estate sector, sources said, adding, no issues related to rate is in the agenda as the model code of conduct is in force.
 GST Council may consider implementation of lower tax rates for realty sectora
By CA Nilesh Sahu
The 34th GST Council meeting on Tuesday is expected to take up several issues on priority including the implementation of lower Goods and Services Tax (GST) rates for the real estate sector.
 CBIC clears air on sales promotion offers under GST
By CA Devender Singh
The Director General of Foreign Trade has discontinued issue of physical copies of advance authorisations and EPCG (Export Promotion Capital Goods) authorisations
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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
 Blow for I-T department’s year-end tax recovery drive
By CA Rashmi Sharma
The income tax department’s plans to arm itself with an SC order to boost year-end recoveries have hit a roadblock. The authorities had approached appellate tribunals over the past few weeks, seeking to challenge stay orders granted to assessees that are over six months old, based on an apex court judgment in March last year that stay orders will not extend beyond six months, irrespective of whether a case is civil or criminal.
 National Guidelines on Responsible Business Conduct.
By CA Ojas Aggarwal
Our motto, Sabka Saath Sabka Vikas has been the cornerstone for pursuing welfare for all by ensuring that the benefits of good governance reach everyone. Business has primarily been seen as wealth creators for their shareholders, but it has the potential to go beyond that and induce inclusive socio-economic transformation.
 Best tax saving investment for my retired mother
By CA Devender Singh
If your mom’s annual income is Rs 2.4 lakh, she need not do any tax planning. As per the current income tax slab, a resident Indian below 60 years need not pay any tax if her income is below Rs 2.5 lakh.
 You don’t have to pay tax if your brother gifts a property to you
By CA Nilesh Sahu
From an income-tax perspective, generally, the sale or relinquishment of your brother’s share of property to you would be a transaction subject to capital gains taxation rules.
 Income Tax: Claim capital gains tax benefit on sale of house judiciously
By CA Andrew F Thomas
The one-time exemption on investing capital gains in two properties should be used only when the need arises to distribute the property amongst your children.
 How to secure your e- Tax Filing Accounts through e - Filing Vault a
By CA Atul Gupta
To avoid any kind of security infringement while logging in to the e- tax filing portal, the Income Tax Department has introduced a new security measure called 'e-filing vault'.
 Is the taxman trying to mend its ways or what?
By CA S K Verma
Given the dramatic increase in tax arrears, and the taxman’s remarkably poor record in securing court judgments in its favour—hence the term, tax terrorism—it is just as well that the Central Board of Direct Taxes (CBDT)
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Corporate Law   RSS Feeds
 Income tax law needs to be a lot simpler
By CA Manu T George
Simplifying the Income Tax Act, automating tax collection and return processing and making the process user-friendly are priorities for the National Democratic Alliance (NDA) government, finance minister Piyush Goyal said.
 Govt panel may recommend dropping dividend distribution tax in new direct tax law
By CA Rashmi Sharma
The tax law panel is considering reverting to the classical method of taxing dividend in the hands of the shareholders Members of the task force set up to draft a new direct tax legislation may favour abolishing dividend distribution tax (DDT), according to a report by The Times of India.
 Law Commission proposes to abolish it Tax saving tool HUF may cease to exist
By CA Atul Gupta
The concept of Hindu Undivided Family (HUF) may cease to exist if the proposals of a recently released consultation paper on Reform of Family Law by the law commission are accepted.
 Residential status rules are different for exchange control, income tax laws NRI taxation
By CA Nilesh Sahu
The rules for determination of residential status under the exchange control law are different from those under the income tax law.
 Recent advance rulings under the GST Law
By CA Andrew F Thomas
The Authority for Advance Ruling (AAR) constituted under the Goods and Services Tax (GST) Law has recently pronounced advance rulings clarifying certain positions on the applicability of GST on supply of goods from retail outlets in international airports,
 Case Laws Relating To E-Way Bill
By CA Manu T George
The implementation of e-way bill has caused more delay because of the improvements to be done in the portal system. The Central Government has announced that the e-way bill system would be applicable for the inter-State transactions with effect from 01.02.2018 and the States would implement the e-way bill system for intra-State transactions by 1st June, 2018.
  Are we maintaining documents and records as required under GST Laws?
By CA S K Verma
By this time every tax professional is aware that GST is mainly following various kinds of compliances like filing of returns, e-way bills, etc.
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Students   RSS Feeds
 Important Announcement - CA Examinations May, 2019
By CA Ojas Aggarwal
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 next Chartered Accountants Foundation Course
 Announcement for the Certificate Course on NPO at Kolkata from 2nd February, 2019
By CA Mayank Jain
The Committee for Co-operatives and NPO Sectors of ICAI is starting its next batch for the Certificate Course on NPO at Kolkata from 2nd February, 2019 subject to minimum batch size of 30.
 Registration for Practical Training Assessment Test on February 3, 2019
By CA Manu T George
The next practical training assessment test is being scheduled on February 3, 2018. The students who have completed their 1st/ 2nd year of practical training during the second, third and fourth quarter of 2018,
 Constitution of Study Group on “Best Practices on Revaluation of Answer Books”
By CA Devender Singh
The President, ICAI in terms of the authority vested in him by the 373 rd meeting of the Council held on 12th February 2018
 Change in Examination Venue in Doha (Qatar), November 2018 Examinations
By CA Ojas Aggarwal
Due to unavoidable circumstances, all the candidates initially allocated to Embassy of India Villa Nos. 86 & 90, Street No. 941, AL Eithra Street, Zone 63, Onaiza, DOHA (QATAR) have been re-allocated to Birla Public School W.L.L, P.O Box – 24686, Building No. 160, Plot No. 78, Zone No. / Area No. 56, Street No. 1011, Street Name : Kanis, Sub – Area Name: Mesaimeer, Opposite Religious Complex, Abu Hamour, Doha (Qatar).
 Registrations open for practical training Assessment scheduled on October 21, 2018 and December 2, 2018.
By CA Mayank Jain
Whereas, sub-section (1) of section 48 of the Prohibition of Benami Property Transactions Act,1988 (45 of 1988)(hereafter referred to as the said Act) provides that a person preferring an appeal to the Appellate Tribunal under said Act may either appear in person or take the assistance of an authorised representative of his choice to present his case before the Appellate Tribunal; sub-section
 Zone / City - Shifting of Candidates for November - 2018 CA Exams
By CA Rashmi Sharma
Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Ahmedabad, Bhopal, Chennai, Delhi, Hyderabad, Indore and Vadodara some of the candidates have been allotted examinations centres in the zone other than the zone opted by them in the said cities. In view of this, it is not possible to accede to the requests of the candidates for transfer to an examination centre in a particular zone of the city opted by them.
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New Forms   RSS Feeds
 Form 60 can help you Don’t have PAN and need to do these important transactions?
By CA Ojas Aggarwal
As per the Income Tax Act, PAN is necessary to be quoted in various documents or transactions. However, in certain cases Form No 60 can also be used. Here's all you need to know.
 Income Tax: No provisions in I-T Act for revision in Form 15H, 15G
By CA Ojas Aggarwal
The different types of ITR forms released are based on various sources of income earned. I submitted Form 15H in the bank in April 2018 by mistake. The bank is saying it is unable to reverse/delete Form 15H from my account. How can I rectify the mistake?
 Penalty on late filing of ITR and other tax changes effective from Apr 1
By CA Nilesh Sahu
Several major income tax changes will come into effect from the start of the new financial year, i.e., April 1, 2018. These include penalty on late filing of income tax returns (ITR),
 How to view, download your Form 26AS and why it is important
By CA Andrew F Thomas
Form 26AS, also known as Annual Statement, is a document that provides details of TDS, refunds associated with a PAN in a particular financial year
 E-Way Bill Mandatory From 01.02.2018
By CA Rashmi Sharma
Rule 138 of the Central Goods and Service Tax Rules, 2017 deals with the e-way bill which came into effect from 01.07.2017. But no rule has been framed at that time.
 FORM GSTR-3B v/s FORM GSTR-1
By CA Nilesh Sahu
The common errors while submitting FORM GSTR-3B and the steps needed to be taken to rectify the same in FORM GSTR-1 are provided in the table annexed herewith. The corresponding column in the table provides the steps to be followed by taxpayer to rectify such error:
 Form GSTR-3B of GST - Boon or Curse
By CA Atul Gupta
Form GSTR--3B is summary return inserted by Government vide Rule 61 of the CGST Rules,2017 in lieu of Form –GSTR-3 . It is a summary return in place of GSTR-3.
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ICAI   RSS Feeds
 ICAI-Residential Programme at IIM Ahmedabad
By CA Ojas Aggarwal
The Institute of Chartered Accountants of India (ICAI) has signed a Memorandum of Understanding (MoU) with Indian Institute of Management Ahmedabad (IIMA).
 Launch of Batch of Educational Course by ICAI Registered Valuers Organsiation (ICAI RVO) at Cuffe Parade, Mumbai from 6th April to 28th April, 2019
By CA Atul Gupta
The ICAI Registered Valuers Organsiation (ICAI RVO) is conducting batch of Educational Course for taking IBBI Registered Valuers Examination for Securities or Financial assets class at Cuffe Parade Branch of ICAI, from 6th April to 28th April, 2019 on the following dates:
 Launch of Batch of Educational Course by ICAI Registered Valuers Organisation (ICAI RVO) at Bengaluru from 27th April, 2019 to 19th May, 2019.
By CA Mayank Jain
The ICAI Registered Valuers Organsiation (ICAI RVO) is conducting batch of Educational Course for taking IBBI Registered Valuers Examination for Securities or Financial assets class at Bengaluru, from 27th April to 19th May, 2019 on the following dates
 CPE Events 18th March -23th March 2019
By CA Manu T George
CPE Events 18th March -23th March 2019
 UDIN Being Made Mandatory in 2nd Phase for GST & Tax Audit Reports
By CA S K Verma
You may be aware that Unique Document Identification Number (UDIN) has been made mandatory as per the Council decision taken at its 379th Meeting held on 17th – 18th December, 2018 in the following phases:
 Announcement - CA Exams May 2019 - Apply for Changes/Corrections
By CA Ojas Aggarwal
Accordingly the last date for submission of exam application forms for May 2019 CA exams without late fee, stands extended to 16th March 2019. So also, last date for submission of exam application forms for May 2019 CA exams, with late fee, stands extended to 23rd March 2019.
 Request to Contribute Women Specific Articles for ICAI Monthly Journal The Chartered Accountant.
By CA Atul Gupta
As you may be aware, Women Members Empowerment Group with the objective of empowering women members organizes various Programmes & Webinars across India for the benefit of Women Members at large.
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From the Courts   RSS Feeds
 ITO Coy. Ward – 11(3) Room No. 420D C. R. Building New Delhi vs. Hi Life Exports (P) Ltd. Ward – 191, A, Ekta Marg, Western Avenue, Sainik Farms, New Delhi -110062
By CA Atul Gupta
This appeal by the Revenue is preferred against the order of the Commissioner of Income Tax [Appeals]-4, New Delhi, dated 08.03.2016 for Assessment Year 2007-08.
 Sh. Pradip Kumar Khator 1080, First Floor, Sector-46, Gurgaon, Haryana. vs ITO Ward 3(3), Gurgaon
By CA Mayank Jain
This appeal filed by the Assessee is directed against the Order dated 29/06/2018 of the Ld. CIT(A)-1, Gurgaon relevant to assessment year 2015-16.
 Sh. Jai Prakash 261, Block E-19, Sector-3, Rohini, New Delhi. vs ITO Ward 39(5), New Delhi.
By CA Manu T George
This appeal filed by the Assessee is directed against the Order dated 13/08/2018 of the Ld. CIT(A)-13, New Delhi relevant to assessment year 2013-14.
 Vikram Krishnan vs. Principal Commissioner Of Income Tax
By CA Rashmi Sharma
The assessee is aggrieved by an order of the ITAT, which upheld the AO's determination with respect to the addition made in this case for A.Y. 2010-11 under Section 2(22)(e) of the Income Tax Act, 1961
 ITO vs. Synergy Finlease Pvt. Ltd (ITAT Delhi)
By CA Andrew F Thomas
S. 68 Bogus Share Capital: Merely presenting of documents & making payment through bank or appearance by director before the AO & admitting fact of share application made is in itself not sufficient to justify the genuineness of the transaction.
 Sir Mohd. Yusuf Trust vs. ACIT (ITAT Mumbai)
By CA Nilesh Sahu
S. 50C Capital Gains: The adoption of stamp valuation as the sale consideration is not justified in absence of any evidence that the sale consideration was more than the value shown in the agreement. The AO has not brought on record that the property under sale was not was under various encumbrances and the assessee was having the absolute marketable title of the said property (All judgements considered)
 NuPower Renewables Pvt. Ltd vs. ACIT (Bombay High Court)
By CA Devender Singh
S. 147 Reopening of Bogus share capital: Though the reopening is based on information supplied by the investigation wing, the reasons do not specify that the investment was non-genuine. The AO cannot reopen to investigate into the source of genuineness and creditworthiness of the investors as it falls within the realm of fishing enquiries which is wholly impermissible in law
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Auditing   RSS Feeds
 Auditors barred from putting a value on companies they are auditing
By CA S K Verma
An income tax tribunal has barred auditors from issuing valuation certificates to the companies they are auditing. This is set to impact several tax disputes around valuations in companies including angel tax disputes involving start-ups.
 Standard on Internal Audit (SIA) 18, Related Parties
By CA Devender Singh
Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
By CA S K Verma
Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
 Standard on Internal Audit (SIA) 16, Using the Work of an Expert
By CA Ojas Aggarwal
Standard on Internal Audit (SIA) 16, Using the Work of an Expert
 Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
By CA Atul Gupta
Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
By CA Mayank Jain
Standard on Internal Audit (SIA) 13, Enterprise Risk Management
 Standard on Internal Audit (SIA) 12, Internal Control Evaluation
By CA Manu T George
Standard on Internal Audit (SIA) 12, Internal Control Evaluation
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Latest Circulars   RSS Feeds
 Reporting and Accounting of Central Government Transactions of March 2019
By CA Rashmi Sharma
The Government of India has decided that the date of closure of residual transactions for the month of March 2019 be fixed as April 10, 2019 for the Financial Year 2018-19.
 Auction for Sale (Re-issue) of Government Stock (GS) March 18, 2019
By CA Nilesh Sahu
The Government Stock up to 5% of the notified amount of the sale will be allotted to eligible individuals and institutions as per the enclosed Scheme for Non-competitive Bidding Facility in the Auctions of Government Securities (Annex).
 Auction of Government of India Dated Securities March 18, 2019
By CA Devender Singh
The auction be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions. The salient features of the auctions and the terms and conditions governing the issue of the Stocks are given in the notifications (copies enclosed)
 Reserve Bank of India Clarifies
By CA Rashmi Sharma
There have been some media reports about the stance of the Reserve Bank of India with regard to the Revised Framework on Resolution of Stressed Assets issued on February 12, 2018. As the matter is sub judice and the Hon’ble Supreme Court has reserved its orders on the matter, the Reserve Bank will not comment on the specific details.
 Reserve Bank of India (Prevention of Market Abuse) Directions, 2019
By CA Andrew F Thomas
The Reserve Bank of India (herein after called the ‘Bank’), having considered it necessary in public interest and to regulate the financial system of the country to its advantage, in exercise of the powers conferred by section 45W of the RBI Act read with section 45U
 22nd Meeting of the FSDC Sub-Committee – Mumbai
By CA Manu T George
The Sub-Committee reviewed the major developments on the global and domestic fronts that impinge on the financial stability of the country.
 RBI to inject Rupee liquidity through long term USD/INR Buy/Sell Swap auction
By CA Nilesh Sahu
In order to meet the durable liquidity needs of the system, the Reserve Bank has decided to augment its liquidity management toolkit and inject Rupee liquidity for longer duration through long-term foreign exchange Buy/Sell swap in terms of its extant Liquidity Management Framework.
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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
 Monetary limits for filing/withdrawal of Wealth Tax appeals by the Department before ITAT, HCs and SLPs/appeals before SC through extending the scope of Circular 3 of 2018 -Measures for reducing litigation.?
By CA Devender Singh
Reference is invited to Board's Circular No. 3 of 2018 dated 11.07.2018 (hereinafter, referred to as "the Circular") vide which monetary limits for filing of income tax appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/ appeals before Supreme Court were specified.
 Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Cause List Of Cases Posted Before A-Bench ( Db & Smc ) 14.01.2019 To 18.01.2019
By CA Rashmi Sharma
Income Tax Appellate Tribunal, Hyderabad Benches, Hyderabad. Cause List Of Cases Posted Before A-Bench ( Db & Smc ) 14.01.2019 To 18.01.2019
 Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sal Ma/ Pronouncement For Friday 18.01.2019
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sal Ma/ Pronouncement For Friday 18.01.2019
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata. Sub : Cause List For The Cases Fixed On Friday The 11/01/2019
By CA Manu T George
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata. Sub : Cause List For The Cases Fixed On Friday The 11/01/2019
 Income Tax Appellate Tribunamumbai Benchemumbai Consolidated Cause List Of SA/ Maj Pronouncement For Friday 11.01.2019
By CA Rashmi Sharma
Income Tax Appellate Tribunamumbai Benchemumbai Consolidated Cause List Of SA/ Maj Pronouncement For Friday 11.01.2019
 Income Tax Appellate Tribunal: Chandigarh Benches: Chandigarh Revised Constitution Of Chandigarh Benches From: 17'12.2018 To 21.12.2018 & 24.12.2018 To 28.12.2018,
By CA Andrew F Thomas
Income Tax Appellate Tribunal: Chandigarh Benches: Chandigarh Revised Constitution Of Chandigarh Benches From: 17'12.2018 To 21.12.2018 & 24.12.2018 To 28.12.2018,
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated list of Orders ready for Pronouncement on 19 /12/2018.
By CA Nilesh Sahu
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated list of Orders ready for Pronouncement on 19 /12/2018.
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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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Placements & Empanelment   RSS Feeds
 35 LPA-Opening Accounting Lead
By CA Manu T George
Salary: INR 30,00,000 - 35,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 1.cr LPA-Opening Financial Auditors And Accountants
By CA Andrew F Thomas
Salary: INR 37,50,000 - 95,00,000 P.A., Functional Area:Accounts, Finance, Tax, Company Secretary, Audit
  60 LPA-Opening Taxation Accountant
By CA Nilesh Sahu
Salary: INR 35,00,000 - 60,00,000 P.A., Functional Area:Accounts, Finance, Tax, Company Secretary, Audit,
  40 LPA-Opening Financial Controller
By CA Devender Singh
Salary: INR 30,00,000 - 40,00,000 P.A., Functional Area:Accounts, Finance, Tax, Company Secretary, Audit, PG:CA
 32.5 LPA-Opening Senior Accountant (NO Ielts) Urgently Required
By CA S K Verma
Salary: INR 20,00,000 - 32,50,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 25 PLA-Opening Finance Controller - Retail Industry - Pune - CA Must
By CA Mayank Jain
Salary: INR 22,50,000 - 25,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, PG - CA
 25 LPA-Opening Assistant Finance Controller -Big 4 & Retail Industry Background must
By CA Manu T George
Salary: INR 20,00,000 - 25,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA, ICWA (CMA)
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Direct Tax   RSS Feeds
 GST Council meet: Realtors get two options to tax under construction house
By CA Ojas Aggarwal
Real estate developers with unsold housing inventories can now choose either the old rate or the new one if the project is still under construction on March 31. This option was given on Tuesday at the Goods and Services Tax Council meeting.
 Relief for start-ups with tax notice
By CA Atul Gupta
About 300 start-ups which had received tax payment orders due to issues related to ‘angel tax’ may soon get relief, as the Central Board of Direct Taxes (CBDT) has asked industry representatives to submit the names and PAN details of all the affected start-ups.
 CBDT gives 90 startups immunity from Angel Tax
By CA Manu T George
In what will give relief to 90 startups from taxman’s questioning their valuation during fund raising rounds and slapping angel tax, the Central Board of Direct Taxes (CBDT) has given them a written assurance and registered them for Startup India Action Plan, according to two people with direct knowledge of the matter.
 Which form should salaried individual and pensioner file? Find out Income Tax Return (ITR) filing
By CA S K Verma
Income Tax Return (ITR) filing: There are 7 forms currently available and is must to file for ITR. These forms are ITR - 1, ITR - 2, ITR - 3, ITR - 4, ITR - 5, ITR - 6 and ITR - 7.
 Net direct tax collection crosses ?10 lakh crore mark
By CA Atul Gupta
The net direct tax collection figure has crossed the ?10 lakh crore mark as on March 16, helped by the fourth and final installment of tax payment, sources said.
 CBDT Widens Tax Dragnet on Notional Income through Section 56(2), but Loopholes Remain
By CA Mayank Jain
The abolition of Gift Tax Act in the year 1998 paved the way for one of the most dynamic sections of the Income Tax Act, 1961, namely, Section 56(2)
 No respite from Angel Tax despite DPIIT notification
By CA Manu T George
A month after the Department for Promotion of Industry and Internal Trade (DPIIT) notified norms for startups to seek exemption from Section 56(2)(viib) of the I-T Act, startups complain that little work has been done on the ground to bring them relief from the so-called ‘Angel Tax’ demon.
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Tenders   RSS Feeds
 Kerala Shipping And Inland Navigation Corporation Limited,Kochi
By CA Manu T George
KSINC is preparing a panel of Consultants/Project Management onsultants/Contractors in the areas of Civil Engineering, Mechanical Engineering, Electrical Engineering, Naval architecture and ship building, Financial management
 Madhya Pradesh State Co-operative Dairy Federation Limited, Ujjain, Madhya Pradesh
By CA Rashmi Sharma
Online tenders are invited APPOINTMENT OF CHARTERED ACCOUNTANTS FOR INTERNAL AUDIT THE YEAR 2019-20 & 2020-21
 National Textile Corporation Limited, Delhi
By CA Devender Singh
With reference to the Tender No. NTC/08889 for NTCL website and Tender Id 2019_NTC_410151_1 for Central Public Procurement (CPP) portal dated 13.02.2019, Last date for submission of tender has been extended till 22.03.2019 3.00 P.M.
 Government Of Haryana, Panchkula, Haryana
By CA S K Verma
These conditions will over-rule the conditions stated in the tender documents, wherever relevant and applicable.
 Indian Ordnance Factories Jabalpur, Madhya Pradesh
By CA Atul Gupta
The General Manager, Grey Iron Foundry, Jabalpur - 482 009, Madhya Pradesh, India on behalf of the President of India invites Open Tender in Two Bid System
 Department Of Industries, Ranchi, Jharkhand
By CA Mayank Jain
Directorate of Industries, Department of Industries, Govt. of Jharkhand is in the process of developing Clusters through Producer Company to access them technical, financial
 Security Printing And Minting Corporation Of India Limited, Hyderabad
By CA S K Verma
Description of services: Hiring of CA firm for 1 CA with 2 assistants for a period of one year as per scope of work give in Section VII "Technical Specification" and as per skills and qualification mentioned therein.
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Transfer Pricing   RSS Feeds
 MNCs now won't have to file CbC report in Indiaa
By CA Ojas Aggarwal
Indian arms of US MNCs will not have to file country by country or CbC report here. India has finalized bilateral competent authority arrangement for exchange of CbC reports with US.
 Citing Supreme Court’s Vodafone order, Bombay HC rejects transfer pricing adjustment
By CA Ojas Aggarwal
Relying on the Supreme Court’s verdict in the Vodafone case related to transfer pricing adjustment (TPA), the Bombay High Court upheld the Income Tax Appellate Tribunal (ITAT) ruling that had struck down the adjustments made by the taxman on an Indian company for buying shares in a fully-owned Dubai-based subsidiary on its capital account.
 General Insurance Corporation Of India, Mumbai, Maharashtra
By CA Ojas Aggarwal
This E-Tender document is not an agreement or offer by General Insurance Corporation of India (hereinafter to be referred as GIC Re) to the prospective Bidders or any other party. The purpose of this E-Tender document is to provide interested parties with information to assist the formulation of their Bid.
 Air India Limited, Multi Location, Multi State
By CA Atul Gupta
The information contained in this TENDER or subsequently provided to bidder(s) whether verbally or in documentary or in any other form or on behalf of Air India, is provided to the bidder(s) on the terms and conditions set out in this TENDER and such other terms and conditions subject to which such information is provided.
  Edcil India Limited, New Delhi
By CA Manu T George
Appointment of Chartered Accountant Firm / Practicing Chartered Accountant to undertake work of Internal Audit for its Corporate Office at Noida and its Branch offices at Barakhamba Rd. New Delhi.
 Edcil India Limited, New Delhi
By CA Rashmi Sharma
Appointment of Chartered Accountant Firm / Practicing Chartered Accountant to undertake work of Internal Audit for its Corporate Office at Noida and its Branch offices at Barakhamba Rd. New Delhi.
 Indian tax authority sets new CbC reporting deadline for US subsidiaries
By CA Andrew F Thomas
In India, the 2016 Finance Act introduced a three-tiered transfer pricing documentation regime with a view to aligning the Indian transfer pricing documentation rules with Action 13 of the OECD’s base erosion and profit shifting (BEPS) project.
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Customs and Excise   RSS Feeds
 Notification No.05/2019 - Customs (N.T.) Central Board Of Indirect Taxes And Customs
By CA Manu T George
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.02/2019
 Notification No. 03/2019-Customs (ADD) Ministry of Finance
By CA Nilesh Sahu
Whereas, in the matter of import of ,,Jute Products namely, Jute Yarn/Twine (multiple folded/cabled and single), Hessian fabric, and Jute sacking bags (hereinafter referred to as the subject goods) falling under Tariff Headings 5307, 5310, 5607 or 6305 of the First Schedule to the Customs Tariff Act, 1975
 Notification No.3/2019 - Customs Central Board Of Indirect Taxes And Customs
By CA Manu T George
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Customs hereby makes the following amendments in the Notification of the Central Board of Indirect Taxes and Customs No.2/2019-CUSTOMS (N.T.), dated 3rd January, 2019
 Notification No. 79/2018 – Central Board of Indirect Taxes and Customs
By CA Ojas Aggarwal
In exercise of the powers conferred by sub-section (1) of section 5 of the Central Goods and Services Tax Act, 2017 (12 of 2017)
 Clarification with respect to amendments to Customs and Central Excise notifications
By CA Andrew F Thomas
EOU/EHTP/STP/BTP schemes are governed by Chapter 6 of Foreign Trade Policy (FTP), duly supported by the relevant Customs and Central Excise otifications. These notifications have now been amended in order to align them with the present Foreign Trade Policy (FTP), 2015-2020,
 Procedure for disposal of un-claimed/un-cleared cargo under section 48 of the Customs Act, 1962, lying with the custodians
By CA Nilesh Sahu
Despite the issuance of many circulars, the feedback relating to disposal of unclaimed/uncleared cargo at all Customs locations has not been fully satisfactory.
 Notification No. 95/2018-CUSTOMS (N.T.)
By CA Ojas Aggarwal
In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962) and sub-section (2) of section 37 of the Central Excise Act, 1944 (1 of 1944), read with rules 3 and 4 of the Customs and Central Excise Duties Drawback Rules, 2017
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Mergers and Acquisitions   RSS Feeds
 L&T Infotech shares already carry scars of meddling with Mindtree
By CA Atul Gupta
A mergers and acquisitions (M&A) transaction typically boosts the shares of the target company and weighs down the shares of the acquirer. It’s no different in the case of mid-sized IT company Mindtree Ltd, and one of its potential acquirers.
 With Pramit Jhaveri's Citibank exit, an era ends at India's largest foreign bank
By CA Devender Singh
Jhaveri will demit office on March 31, ending his nine-year stint as Citibank's face in India. He is serving as an interim head of India operations currently, after the Reserve Bank of India (RBI) denied him a new three-year term late last year.
 Deals of the day-Mergers and acquisitions March 7, 2019
By CA Atul Gupta
Home-renting company Airbnb has bought HotelTonight, an app for finding hotel rooms at a discount, as it wades deeper into the hotel-booking business to attract a wider variety of travelers ahead of a hotly anticipated initial public offering.
 Deals of the day-Mergers and acquisitions March 2, 2019
By CA Devender Singh
Electronic materials maker Versum Materials Inc formally rejected a $5.9 billion unsolicited cash offer from Merck KGaA, saying it was committed to the agreed merger with U.S. rival Entegris.
 Pr Commissioner Of Income Tax-6 New Delhi vs. N.R. Portfolio Pvt. Ltd.
By CA S K Verma
Electronic materials maker Versum Materials Inc formally rejected a $5.9 billion unsolicited cash offer from Merck KGaA, saying it was committed to the agreed merger with U.S. rival Entegris.
 Deals of the day-Mergers and acquisitions February 22, 2019
By CA Manu T George
Canada’s Barrick Gold Corp is considering a hostile bid for Newmont Mining Corp for about $19 billion in stock, in what would potentially be one of the largest-ever mining deals, the country’s Globe and Mail newspaper reported.
  India rakes in the deals as 2018 witnesses a boom in mergers and acquisitions
By CA Andrew F Thomas
India might be looking at its biggest boom in mergers and acquisitions deals, after transactions involving Indian companies witnessed a massive surge. Investment bankers are already preparing for more dealmaking in the future.
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Indirect Tax   RSS Feeds
 Top 30 Income Tax Judgments in 2018
By CA Andrew F Thomas
The year 2018 has been a very significant one to the taxation regime due to some important reforms in the laws and procedures. The contribution of the judiciary including the Supreme Court and various High Courts and Tribunals cannot be ignored. Some of the significant tax judgments delivered by the Indian judiciary in this year have been enlisted below.
 Urban Development and Housing Department, Chakradharpur, Jharkhand
By CA Devender Singh
Though adequate care has been taken while issuing this RFP, the applicant Chartered Accountant/ Cost Accountant Firm should satisfy himself that the document is complete in all respects. Intimation of any discrepancy shall be given to this office (as mentioned below) immediately.
 National Rural Health Mission, Faridabad - Haryana
By CA S K Verma
The Civil Surgeon Gurugram shall have the authority to cancel the tender process if does not find a suitable tender.
  Govt fails to release exporters’ pending sales tax refund claims
By CA Ojas Aggarwal
Billions of rupees of exporters in DDT and DLTL has been stuck up with the government causing great sufferings to the already burdened exporters who are now at a loss to understand how to make both ends meet and such an alarming situation will ruin the export business of the Value Added Textile Exporters.
 Govt fails to release exporters’ pending sales tax refund claims
By CA Atul Gupta
Billions of rupees of exporters in DDT and DLTL has been stuck up with the government causing great sufferings to the already burdened exporters who are now at a loss to understand how to make both ends meet and such an alarming situation will ruin the export business of the Value Added Textile Exporters.
 How is dividend income taxed Here’s all you need to know
By CA Nilesh Sahu
With the soaring cost of living, it has become imperative for the common man to look for alternate sources of income. One of the commonly preferred source is investment in stocks and mutual funds as it provides lucrative returns in the form of dividend, as compared to other investment sources such as bank deposits and fixed deposits.
 How is dividend income taxed Here’s all you need to know
By CA Devender Singh
With the soaring cost of living, it has become imperative for the common man to look for alternate sources of income. One of the commonly preferred source is investment in stocks and mutual funds as it provides lucrative returns in the form of dividend, as compared to other investment sources such as bank deposits and fixed deposits.
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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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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
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