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News Headlines   RSS Feeds
 Here’s all you need to know New Income Tax return for salaried class available on IT portal
By CA Andrew F Thomas
The Income Tax filing season for salaried class taxpayers has just begun with the Central Board of Direct Taxes (CBDT), that frames policy for the department, recently notifying the new ITRs.
 What to do if you missed the (second) tax deadline
By CA Andrew F Thomas
The deadline to file your taxes has come and gone. Twice, even: The original April 17 deadline was extended to midnight April 18 after the Internal Revenue Service's official website crashed and left millions of people frustrated.
 Income-tax (5th Amendment) Rules, 2018 - Notification under section 9A (3) of the Income-tax Act, 1961 in respect of Fund Manager Regime
By CA S K Verma
In exercise of the powers conferred by section 295 read with section 9A of the Income-tax Act,1961 (43 of 1961)
 Income Tax department warns salaried class again filing wrong ITRs
By CA Manu T George
The Income Tax Department on Wednesday cautioned salaried class taxpayers against using illegal means like under-reporting of income or "inflating" deductions while filing their returns, stating violators will be prosecuted and their employers will be intimated to take action against them.
 ITR-1 form for AY 18-19 now available for e-filing
By CA Ojas Aggarwal
The latest ITR-1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of the Income Tax Department, a senior official said today.
 New Income Tax Return Form for Salaried Class available in Portal
By CA Devender Singh
The latest ITR-1 form, largely used by the salaried tax payers is now available in the official portal for e-filing, the income tax department said. The last date for filing the ITR is July 31.
 Income Tax Return: ITR-1 ready for e-filing, says I-T department
By CA S K Verma
The latest ITR-1 form, largely used by the salaried class of taxpayers, has been activated on the official e-filing portal of the Income Tax Department, a senior official said today.
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Continuing Prof. Edu.   RSS Feeds
 Recent Developments in Income Tax 2) New ITR forms for A.Y.18-19 (DIRECT TAXES)
By CA Nilesh Sahu
Place: South Delhi CA Study Circle of NIRC Date: 24-04-2018 – To: 24-04-2018 CPE.Hrs.: 4
  GST issues in Accounts Closing & Return and Forensic Audit
By CA Devender Singh
Place: Daryaganj CPE Study Circle of NIRC Date: 24-04-2018 – To: 24-04-2018 CPE.Hrs.: 5
 GST issues in Accounts Closing & Return and Forensic Audit
By CA Mayank Jain
Place: 24-04-2018 – To: 24-04-2018 Date: Daryaganj CPE Study Circle of NIRC CPE.Hrs.: 5
 Recent Developments In GST
By CA Devender Singh
Place: Delhi Gate CPE Study Circle of NIRC Date: 21-04-2018 – To: 21-04-2018 CP.Hrs.: 3
  Practical Guide to e-way Bill and GST Issues regarding closing of Financial Statements
By CA Mayank Jain
Place: North Campus Study Circle of NIRC Date 11-04-2018 – To: 11-04-2018 CPE.Hrs.: 5
 Seminar On Ibc & Nfra And Artificial Intelligence In Accounting & Auditing
By CA Rashmi Sharma
Place: Mayur Vihar CPE Study Circle of NIRC Date: 15-04-2018 – To: 15-04-2018 CPE.Hrs.: 5
 Practical Guide to e-way Bill and GST Issues regarding closing of Financial Statements
By CA Andrew F Thomas
Place: North Campus Study Circle of NIRC Date: 11-04-2018 – To: 11-04-2018 CPE.Hrs.: 5
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GST - Goods and Services Tax   RSS Feeds
 Six more states to roll out intra-State e-way bills from April 20
By CA Atul Gupta
E-way bills will be mandatory for intra-State trade in respect of six more states from April 20, Sushil Modi, Chairman of Group of Ministers on GST, said on Tuesday.
 Govt advances deadline for GST seller returns for April, May, June
By CA Atul Gupta
The government has advanced the deadlines for filing of seller forms under the goods and services tax, GSTR-1, for April, May and June, in comparison to those given for previous months.
 India must fully implement GST to avoid tax revenue underperformance
By CA Mayank Jain
In India, a return to a gradual path of growth-friendly fiscal consolidation is desirable to create fiscal space, but full and smooth implementation of the new goods and services tax is necessary to avoid tax revenue underperformance resulting in cuts to capital expenditures," the IMF said.
 GoM yet to finalise simpler returns filing process under GST
By CA Atul Gupta
The new simplified model may suggest giving credit on a provisional basis, once suppliers upload their sales invoices, upon fulfilling certain conditions.
 The new simplified model may suggest giving credit on a provisional basis, once suppliers upload their sales invoices, upon fulfilling certain conditions.
By CA Mayank Jain
The new simplified model may suggest giving credit on a provisional basis, once suppliers upload their sales invoices, upon fulfilling certain conditions.
 Service Of Notices Under GST
By CA Andrew F Thomas
The statutory provisions for service of notices etc in certain circumstances are provided in section 169 of the CGST Act, 2017.
 Accounts and Records including Accounting Ledgers under GST
By CA Andrew F Thomas
Maintenance of books of accounts and necessary supporting and relevant records are highly essential requirements for proper management and control of the business operations.
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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
 Income Tax efiling: Must-do steps to file your IT return for FY 2017-18 on time till you get Form 16
By CA Rashmi Sharma
Some of you might wonder that you haven’t received your Form 16 yet and, also, there is ample time for income tax filing for FY2017-18, then why to start getting prepared for the same at this point of time? Here are the reasons.
 What are the tax filing deadlines for financial year 2017-18?
By CA Mayank Jain
The government has changed rules on filing belated returns in two different Budgets (2017-18 and 2016-17). This assessment year (AY) onwards, taxpayers get only one year to file late returns.
 How income tax department can penalise you for under-reporting, misreporting income
By CA Ojas Aggarwal
Under-reporting income or inflating deductions/exemptions in income tax return can attract heavy penalties ranging from 50% to 200% of tax evaded, say experts. An advisory issued yesterday
 Start your tax planning right now
By CA Manu T George
In most cases, individuals start looking for tax saving products to invest only when their employer sets a deadline for submission of the documents. This leads to financial disaster
 Government confident of meeting fiscal deficit, tax revenue targets
By CA Andrew F Thomas
The government is on its way to achieve the revenue collection and fiscal deficit targets for 2017-18.
 Clarification with respect to the E-way Bill System
By CA Manu T George
The e-way Bill System for Inter-State movement of goods across the country is being introduced from 01st April 2018. Few clarifications regarding the new e-way bill system are as follows:
 Here is how you can save on taxes
By CA Nilesh Sahu
See 80c deduction is available up to Rs 1,50,000 per tax payer while contributing to life insurance, provident fund and various other incentive schemes where investment schemes have been created
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Corporate Law   RSS Feeds
  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.
 Are we maintaining documents and records as required under GST Laws?
By CA Mayank Jain
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.
 Businesses tipped on new income tax law
By CA S K Verma
The business community has been urged to study and understand the new income tax law to be able to fully-benefit from it when it is implemented.
 Will Budget Make Changes In GST Laws
By CA Mayank Jain
Union Budget 2018-19 is just a fortnight away from now and there is one school of thought which say that Budget will not contain GST proposals.
 Government firm on tax law changes, relents on tribunal postings
By CA Ojas Aggarwal
Addressing one of the major concerns of the Opposition on the Finance Bill, the government Wednesday assured Parliament that all judicial appointments in regulatory bodies or tribunals, many of which are being restructured in one go through provisions in the Finance Bill, will continue to be made in consultation with the judiciary.
 Income Tax relief on money in single parent’s account may lead to tax evasion: Law panel
By CA Rashmi Sharma
The income tax exemption on the money deposited in a single parent's account as maintenance for a minor child in a divorce settlement case could open flood gates of tax evasion, the Law Commission warned today.
 Law panel against income tax relief for single parents
By CA S K Verma
The Law Commission is learnt to have decided against recommending income tax exemption on the money deposited in a single parent’s account as maintenance for a minor child in a divorce settlement case.
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Students   RSS Feeds
 Roll No. data - PQC Exam in INTT-AT, May, 2018.
By CA Andrew F Thomas
Roll No. data - PQC Exam in INTT-AT, May, 2018.
 President's Message - February 2018
By CA Rashmi Sharma
Moreover, India’s recently-liberalised FDI policy, especially regarding the participation of non-resident Indians (NRIs) as domestic investors, has made India a prime destination, among the NRIs.
  Examination Timings - CA May - 2018 Examinations
By CA Andrew F Thomas
An announcement dated 9th January 2018 informing the schedule and timings of the CA Examinations-May 2018
 ICAI wants CA course to be accorded PG status
By CA Devender Singh
The Institute of Chartered Accountants of India (ICAI) will approach the University Grants Commission to accord postgraduate degree status for Chartered Accountant (CA) qualification.
 Announcement - Reservations in CA course
By CA Mayank Jain
The Institute has come across certain messages that are being aired in social media that some persons have approached to the Court of Law seeking direction to the Institute for making provisions for reservation in the Chartered Accountancy course.
 Refresher Course on GST and Ind AS organized for CA Students and gain knowledge on GST and Ind AS
By CA Rashmi Sharma
Online Registration for Refresher Course on GST and Ins AS for the CA Students Board of Studies is organizing Six Days Course on GST and Ind AS through a combination of Webcasts from Head Office and physical classes at Regional Councils and Branch(es)for the CA student.
 Discontinuation of Students Learning Management System (LMS)
By CA Andrew F Thomas
The Board of Studies in its continuous endeavour to facilitate students in learning anytime and anywhere by leveraging technology, has been offering video lectures for all the three levels of CA Course since 2014.
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New Forms   RSS Feeds
 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.
  Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 117 of the Central Goods and Services Tax Rules, 2017
By CA Ojas Aggarwal
In exercise of the powers conferred by rule 117 of the Central Goods and Services Tax Rules, 2017 read with section 168 of the Central Goods and Services Tax Act, 2017
 Form 64E is enabled in e-Filing to furnish the statement of income distributed by a securitisation trust
By CA Atul Gupta
In exercise of the powers conferred by section 295 read with sub-section (4) of section 115TCA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
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ICAI   RSS Feeds
 CPE Events 16th April - 21th April 2018
By CA Atul Gupta
CPE Events 16th April - 21th April 2018
 Invitation to Members to Empanel as a Resource Person to Conduct Investor Awareness Program
By CA Rashmi Sharma
We are pleased to share with you that the Institute of Chartered Accountants of India under the aegis of Investor Education and Protection Fund Authority (IEPFA), Ministry of Corporate Affairs is conducting Investor Awareness Programs through its Committee on Capital Market and Investors Protection.
 Accounting Policy Changes (Proposed amendments to IAS 8)
By CA S K Verma
In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors.
 Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 15
By CA Mayank Jain
Ind AS Transition Facilitation Group (ITFG) of Ind AS Implementation Group has been constituted for providing clarifications on timely basis on various issues related to the applicability
 Group on Vision 2024 for Global Presence of Indian CAs
By CA Manu T George
The President, in terms of the authority given to him by the Council at its 373rd meeting held on 12th February, 2018, has reconstituted the Group on “Vision 2024 for Global Presence of Indian CAs” for suggesting way forward, comprising of the following members:-
 Educational Material on Indian Accounting Standard (Ind AS) 103, Business Combinations
By CA Ojas Aggarwal
Indian Accounting Standard (Ind AS) 103, Business Combinations, prescribes the recognition and measurement principles for business combinations by acquisitions/ mergers.
 Invitation to Empanel as a Resource Person to Conduct Various Programmes for the Benefits of Members in Industry.
By CA Devender Singh
We are pleased to share with you that the Institute of Chartered Accountants of India through its Committee for Professional Accountants in Business & Industry organizes various knowledge enriching programmes, Conferences, Industry Meet, Outreach Program for the benefit of the members in industry.
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From the Courts   RSS Feeds
 Meta Plast Engineering P. Ltd. vs. ITO (ITAT Delhi)
By CA Mayank Jain
S. 147 Reopening: Passing the reassessment order before the expiry of 4 weeks of passing the order of objections renders the reassessment order void. Also, if the reasons state “bogus accommodation entries were provided/taken” and it is not clear whether the assessee has received or provided accommodation entries, it means there is no application of mind by the AO while recording reasons
 Shantivijay Jewels Ltd vs. DCIT (ITAT Mumbai)
By CA Manu T George
Bogus Purchases: The fact that the supplier admitted to issuing bogus bills does not necessarily mean that he had issued accommodation bills to the assessee.
  Amod Shivlal Shah vs. ACIT (ITAT Mumbai)
By CA Manu T George
S. 133A: An admission of estimated income made during survey has no evidentiary value and is not binding on the assessee. The income has to be assessed as per the return of income and books of account. Hiralal Maganlal 97 TTJ Mum 377 distinguished. CBDT Circular No. 286/2/2003 (Inv.) II dated 10.03.2003 referred
 The Shri Saibaba Sansthan Trust (Shirdi) vs. UOI (Bombay High Court)
By CA Rashmi Sharma
ax Recovery: CBDT should investigate arm twisting measures, dehors application of the law, adopted by the Revenue for recovery of tax and take corrective measures to ensure AOs are not overzealous in recovering maximum revenue before 31st March. Once the CIT(A) concludes hearing the appeal, the stay application becomes infructuous. The exercise by CIT(A) of taking up the stay application, after the appeal was heard, was only done so as to collect some revenue before 31st March, 2018. This is certainly not expected of an Appellate Authority who adjudicates disputes between the Revenue and the Assessee on a regular basis. The CIT(A) must not only be fair but appear to be so, in a country governed by Rule of law.
  Pr CIT vs. JWC Logistics Park Pvt. Ltd (Bombay High Court)
By CA Rashmi Sharma
Strictures passed against Dept's Advocate for "most unreasonable attitude" of seeking to reargue settled concluded issues.
 ITO (Exemptions) vs. Chandigarh Lawn Tennis Association (ITAT Chandigarh)
By CA Andrew F Thomas
Strictures passed against the Dept for confronting, showing resentment and displeasure to the Tribunal for granting interim stay against recovery of demand. The Dept is showing open defiance of, disrespect of, or of open resentment to, orders of the Tribunal, which may prove be very dangerous for the sanctity of the courts of law/Justice dispensation system of the country. Costs imposed on dept
 Amod Shivlal Shah vs. ACIT (ITAT Mumbai)
By CA Nilesh Sahu
S. 133A: An admission of estimated income made during survey has no evidentiary value and is not binding on the assessee. The income has to be assessed as per the return of income and books of account. Hiralal Maganlal 97 TTJ Mum 377 distinguished. CBDT Circular No. 286/2/2003 (Inv.) II dated 10.03.2003 referred
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Auditing   RSS Feeds
 Supreme Court puts the spotlight on audit firms
By CA Atul Gupta
The Supreme Court on Friday put the spotlight on the Big Four multinational accounting firms, directing that a committee be set up to tighten regulatory oversight over them.
 Auditing to be less of a burden as accountants embrace AI
By CA Nilesh Sahu
Among the more thankless tasks undertaken by junior accountants is meticulously checking off inventory at clients’ warehouses, which can involve scaling ladders with paper and pen in hand.
 CAG's report on GST will be totally paperless
By CA Devender Singh
The Comptroller and Auditor General (CAG) will come out with its first digital audit report, a complete paperless exercise, with its performance appraisal of the Goods and Services Tax, expected to come out sometime towards the end of this calendar year.
 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).
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Latest Circulars   RSS Feeds
 Master Direction - Know Your Customer (KYC) Direction, 2016
By CA S K Verma
In terms of the provisions of Prevention of Money-Laundering Act, 2002 and the Prevention of Money-Laundering (Maintenance of Records) Rules, 2005
 Minutes of the Monetary Policy Committee Meeting April 4-5, 2018
By CA Ojas Aggarwal
The tenth meeting of the Monetary Policy Committee (MPC), constituted under section 45ZB of the amended Reserve Bank of India Act, 1934, was held on April 4 and 5, 2018 at the Reserve Bank of India, Mumbai.
 RBI launches Quarterly Order Books, Inventories and Capacity Utilisation Survey: January-March 2018 (Round 41)
By CA Nilesh Sahu
The Reserve Bank of India has launched the 41st round of its Order Books, Inventories and Capacity Utilisation Survey (OBICUS). The survey is for the reference period January-March 2018 (Q4:2017-18).
 It is not Business as Usual for Lenders and Borrowers (N. S. Vishwanathan, Deputy Governor, Reserve Bank of India – April 18, 2018 – Speech Delivered at National Institute of Bank Management, Pune on Fourteenth Convocation)
By CA Devender Singh
Chief guest, Shri M. Damodaran, Dr. Dhingra, Director NIBM, other dignitaries on the dais, distinguished bankers, faculty and staff of the institution, proud parents,
 RBI clarifies that there is no currency shortage
By CA Rashmi Sharma
It has been reported in a section of the media that there is shortage of currency in certain parts of the country. It is clarified at the outset that there is sufficient cash in the RBI vaults and currency chests. Nevertheless, printing of the notes has been ramped up in all the 4 note presses.
 Auction for Sale (Re-issue) of Government Stock (GS) April 16, 2018
By CA Manu T George
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).
 RBI-Auction of Government of India Dated Securities April 16, 2018
By CA Rashmi Sharma
The auction for securities will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions.
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Forex   RSS Feeds
 Perils of an ad hoc forex policy
By CA Nilesh Sahu
In a speech that he gave last month at the International Monetary Fund, the Reserve Bank of India (RBI) Governor,
 Rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade
By CA Andrew F Thomas
The rupee depreciated by 17 paise to Rs 45.62 a dollar in early trade today following weak domestic equity markets
 Rupee strengthened by 7 paise against dollar
By CA Devender Singh
The rupee strengthened by 7 paise to Rs 45.35 a dollar in early trade today on weakness in the US currency against major world currencies
 Rupee up by 4 paise against dollar in early trade
By CA Nilesh Sahu
The rupee strengthened by 4 paise to Rs 45.48 against the US dollar in early trade at the Interbank Foreign Exchange today
 Rupee falls by 18 paise at 4-week low against dollar
By CA Manu T George
The rupee today fell by 18 paise to trade at a four-week low of Rs 45.54 against the US currency in early trade, weighed down by dollar's gains against the major world currencies
 Rupee drops on weak shares; inflation eyed
By CA Nilesh Sahu
The Indian rupee fell on Friday tracking losses in local shares, which raised worries of foreign investors continuing to pull out funds from Asia's third-largest economy
 Rupee raises 6 paise against dollar in early trade
By CA Rashmi Sharma
The Rupee appreciated by 6 paise to Rs 45.07 a dollar at the Interbank Foreign Exchange market today, boosted by the greenback's weakness against euro and other major currencies
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ITAT-Constitution of Benches   RSS Feeds
 Income Tax Appellate Tribunal, Pune Bench Pune Causelist for Bench 'A' for the week ending 27/04/2018
By CA Rashmi Sharma
Income Tax Appellate Tribunal, Pune Bench Pune Causelist for Bench 'A' for the week ending 27/04/2018
 Income Tax Appellate Tribunal, Visakhapatnam Bench During The Period From 23.04.2018 To 04.05.2018
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Visakhapatnam Bench During The Period From 23.04.2018 To 04.05.2018
 Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sa/ma/pronouncement For Friday 20.04.2018
By CA Mayank Jain
Income Tax Appellate Tribunal, Mumbai Benches, Mumbai Consolidated Cause List Of Sa/ma/pronouncement For Friday 20.04.2018
 Income Tax Appellate Tribunal: Kolkata Benches : Kolkata Cause list for the Cases fixed on friday the 20/04/2018
By CA Manu T George
Income Tax Appellate Tribunal: Kolkata Benches : Kolkata Cause list for the Cases fixed on friday the 20/04/2018
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 19.04.2018 & 20.04.2018
By CA Andrew F Thomas
Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 19.04.2018 & 20.04.2018
 Income Tax Appellate Tribunal : Jaipur Benches : Jaipur Consolidated List Of Orders Ready For Pronouncement On 16/04/2018.
By CA Devender Singh
Income Tax Appellate Tribunal : Jaipur Benches : Jaipur Consolidated List Of Orders Ready For Pronouncement On 16/04/2018.
 Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated List Of Orders Ready For Pronouncement On 18/04/2018.
By CA S K Verma
Income Tax Appellate Tribunal : Kolkata Benches : Kolkata Consolidated List Of Orders Ready For Pronouncement On 18/04/2018.
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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
 95 LPA-Opening Vice President (treasury)
By CA S K Verma
Salary:INR 35,00,000 - 95,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
 35 LPA-Opening General Manager - Oracle Finance
By CA Ojas Aggarwal
Salary:INR 20,00,000 - 35,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 45 LPA-OPening Senior Internal Auditor
By CA S K Verma
Salary:INR 40,00,000 - 45,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit,PG:CA
 30 LPA-Opening Financial Controller for UK Based Group
By CA Atul Gupta
Salary: INR 15,00,000 - 30,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit,PG - CA
 30 LPA-Opening Financial Controller for UK Based Group
By CA Atul Gupta
Salary: INR 15,00,000 - 30,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit,PG - CA
 25 LPA-Opening Financial Controller
By CA Atul Gupta
Salary:INR 16,00,000 - 25,00,000 P.A.,Functional Area:Financial Services , Banking , Investments , Insurance
 22.5 LPA-Opening Head - Accounts (CA)
By CA Mayank Jain
Salary:INR 19,00,000 - 22,50,000 P.A. As per candidature,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
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Direct Tax   RSS Feeds
 Direct tax collection exceeds target in FY18
By CA Atul Gupta
Direct tax collections in 2017-18 at Rs 9.95 lakh crore, exceeded the revised budgetary target of Rs 9.8 lakh crore.
 Taking the 1st five steps to saving taxes Income Tax
By CA Nilesh Sahu
Not all investments and insurance are tax-saving instruments. Remember, you need to buy tax-savers only to the extent of your taxes
 TDS on interest income: Want to avoid? Here’s how you can do this
By CA Devender Singh
Banks have to mandatorily deduct TDS on interest income if it is more than Rs 10,000 in a year. However, can this be avoided and who are eligible for this?
 CBDT to modify advance ruling forms for transparency in cross-border deals
By CA S K Verma
The tax department on Saturday said it will modify the forms for advance ruling in order to bring greater transparency in cross-national transactions.
 New ITR forms for 2018-19 notified by CBDT
By CA Ojas Aggarwal
The new Income Tax Return (ITRs) forms for the assessment year 2018-19 were notified today by the the Central Board of Direct Taxes.
 Income Tax Return form: There are many changes you need to know
By CA Mayank Jain
The new format of income tax return forms, introduced for the fiscal 2018-19, will require you to fill up whether you own a house and whether it is self-occupied or given out for rent. The Central Board of Direct Taxes (CBDT) for filing returns for the financial year 2017-18
 Procedure For Registration And Submission Of Statement Of Financial Transactions (Sft) As Per Section 285ba Of Income-Tax Act, 1961 Read With Rule 114e Of Income-Tax Rules, 1962
By CA Atul Gupta
Procedure for registration and submission of statement of financial transactions (SFT) as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962.
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Tenders   RSS Feeds
 Madhya Pradesh Paschim Kshetra Vidvut Vitaran Company Limited, Indore, Madhya Pradesh
By CA Nilesh Sahu
Online tenders are invited for supply of following items/works. The bid seals will be received online on the e-portal
 Maharashtra State Co-operative Bank Limited, Mumbai, Maharashtra
By CA Devender Singh
The Maharashtra State Cooperative Bank Limited invites sealed proposal from CERT-IN empaneled auditor for purpose of AUA
 Central Medical Stores Organisation, Meerut, Uttar Pradesh
By CA Andrew F Thomas
The firm must be three year old. Applying audit firm should submit documentry proof for the above criteria.
  Indian Council Of Agricultural Research, New Delhi
By CA Nilesh Sahu
Rate quotations are invited from willing and potential firms in sealed envelope for award of contract for e-filing of TDS returns (for salaried and non-salaried)
 Housing And Urban Development Corporation Limited, Chandigarh
By CA Manu T George
Offers are invited from the chartered accountant/ cost & management accountant firms having registered office at Raipur (C.G)
 Amendment in PQR and Extension of Tender Submission
By CA Rashmi Sharma
The tender document can also be downloaded from official website of the CSPDCL ( www.cspc.co.in/cspdcl) .
 Tamil Nadu Warehousing Corporation Limited, Chennai - Tamil Nadu
By CA Devender Singh
Sealed Tenders are invited from the qualified Chartered Accountant Firm and Cost Accountant Firm, empanelled with C & AG of India/State CAG for the appointment as Internal Auditor for the Year 2018-2019.
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Transfer Pricing   RSS Feeds
 Indian advance pricing agreement uses customs value as arm’s length price
By CA Andrew F Thomas
India’s Central Board of Direct Taxes (CBDT) has recently entered into an advance pricing agreement (APA) where the price determined by the Indian Customs authorities was accepted as arm’s length price for import transactions for transfer pricing purposes.
 Indian advance pricing agreement uses customs value as arm’s length price
By CA Nilesh Sahu
India’s Central Board of Direct Taxes (CBDT) has recently entered into an advance pricing agreement (APA) where the price determined by the Indian Customs authorities was accepted as arm’s length price for import transactions for transfer pricing purposes.
  How advance pricing agreement helps India-Singapore business ties
By CA S K Verma
Since its very inception, the advance pricing agreement programme has been a success in India as a dispute avoidance mechanism
 Doing business in India: ‘Substance’ over ‘form’ in transfer pricing regime
By CA Ojas Aggarwal
International taxation has witnessed some major changes in recent times. Many of these changes are attributable to the base erosion and profit shifting (BEPS) project of the Organisation for Economic Co-operation and Development (OECD).
 How advance pricing agreement helps India-Singapore business ties
By CA Devender Singh
Since its very inception, the advance pricing agreement programme has been a success in India as a dispute avoidance mechanism
  CBDT to accept transfer pricing MAP sans riders
By CA Ojas Aggarwal
India's apex direct taxes body has said it will accept transfer pricing applications for mutual agreement procedure (MAP) and bilateral advance pricing agreement regardless of presence of a specific provision in the double taxation avoidance agreements (DTAAs).
 How transfer pricing documentation can make you a happier person
By CA Nilesh Sahu
During the seminar ‘BEPS is picking up steam’ the audience was updated on the latest international tax developments. Now that the implementation is well under way, speakers from Loyens
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Customs and Excise   RSS Feeds
 Central Board of Excise and Customs to be renamed CBIC by April
By CA S K Verma
Rechristening of the apex indirect tax policy making body CBEC to Central Board of Indirect Taxes and Customs (CBIC) is likely to happen by April after the budgetary exercise gets Parliament nod.
 Central Board Of Excise & Customs New Delhi GST Flyers
By CA Andrew F Thomas
The Flyers compiled by NACIN and vetted by the GST Policy Wing, CBEC are based on the CGST/SGST/UTGST/IGST Act(s), the CGST Rules, 2017
 Hike in customs duty on electronics likely to boost revenue collection
By CA Ojas Aggarwal
The recent hike in customs duty on electronic goods is expected to not only discourage imports and boost domestic manufacturing, but could also benefit the Exchequer in a year of muted revenue growth.
 Customs duty raised on electronic goods
By CA Atul Gupta
The increase in customs duty will boost government’s tax collection at a time when GST collections have fallen below expectations
 Ministry Of Finance (Central Board Of Direct Taxes) Notification
By CA Mayank Jain
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause,
 Refund of IGST paid on export of goods under rule 96 of CGST Rules,2017
By CA Devender Singh
The GST Council in its 22nd Meeting had approved a major relief package for exporters.
 Customs And Central Excise Drawback – Part II
By CA Atul Gupta
If the goods are to be exported by post under a claim for drawback the outer packing, carrying the address of the consignee shall also carry in bold letters the words DRAWBACK EXPORT.
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Mergers and Acquisitions   RSS Feeds
 Wipro Consumer Care scouts for acquisitions in developing countries
By CA Devender Singh
Wipro Consumer Care and Lighting is scouting for personal and home care acquisitions in the Middle East, Indonesia, Vietnam, China and India, chief executive officer Vineet Agrawal said.
 Top 5 most interesting mergers and acquisitions of the past year
By CA Ojas Aggarwal
The past 12 months have produced a seemingly endless string of mergers and acquisitions (M&As). Over $3.5trn worth of deals were made worldwide, marking the fourth consecutive year the $3trn benchmark has been passed.
 Vodafone, Idea merger in process; likely to be completed by May
By CA Ojas Aggarwal
Telecom entities Vodafone India and Idea Cellular have announced their leadership team in the run-up to the merger. Last March, both telcos decided to merge themselves after their existence was threatened by the newcomer Reliance Jio.
 Indian auto component makers are hungry for overseas acquisitions
By CA Atul Gupta
Even as Indian auto parts firms are busy catering to domestic demand that is growing at a scorching pace, they are looking at good deals to acquire counterparts, especially in the developed markets
 Nine digital health mergers and acquisitions from the first quarter of 2018
By CA Devender Singh
The first quarter of 2018 was light on mergers and acquisitions compared to previous quarters, but those that did crop up were significant, including major companies like Fitbit, Allscripts, Roche, and Johnson & Johnson.
 Deals of the day-Mergers and acquisitions April 2, 2018
By CA S K Verma
Global mergers and acquisitions (M&A) had their strongest start ever in the first quarter of 2018,
  Deals of the day-Mergers and acquisitions March 28, 2018
By CA Atul Gupta
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Wednesday:
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Indirect Tax   RSS Feeds
 CBDT notifies new I-T return forms
By CA Nilesh Sahu
The Central Board of Direct Taxes (CBDT) on Thursday notified income tax return (ITR) forms for assessment year 2018-19 (financial year 2017-18).
 Here are the key changes in tax rules to come into effect from today
By CA Andrew F Thomas
Finance Minister Arun Jaitley while presenting the Union Budget 2018 introduced some major changes in the tax structure which will become effective from today.
 GST revenue growth in 2018-19 to match last 10 years’ indirect tax growth, says SBI report
By CA Devender Singh
The goods and services tax collection would grow at a rate of 14 percent to 16 percent for FY18-19, SBI report said.
 Things You Should Know Before Filing Your Income Tax Returns (ITR)
By CA Devender Singh
The last day to file income tax returns for assessment years 2016-17 and 2017-18 is March 31. The Income Tax (IT) department has been issuing some warnings which tax payers should be wary of before filing their income tax returns by March 31, the last to file belated income tax returns.
 All education loans do not get income tax benefits
By CA Manu T George
While education loans from all banks can provide you the section 80E benefit, loans from NBFCs may or may not
 FM Arun Jaitley to focus on direct and indirect taxes
By CA S K Verma
The last full Union Budget to be presented by Finance Minister Arun Jaitley in the forthcoming session of Parliament beginning on Monday will be unlike his previous four such exercises because of the complete overhaul of the indirect tax regime effected by implementing the Goods and Services Tax (GST) last year.
 Income Tax For Individuals – Assessment Year 2019–20
By CA Atul Gupta
The individuals, especially the salaried people expected much from the Finance Minister in his budget for this year 2018. But the Finance Minister did not bring the income exemption limit and also the rate structure.
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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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