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News Headlines   RSS Feeds
 How to save income tax and earn high returns? Problem solved! Invest in these schemes - From PPF to NPS,
By CA Andrew F Thomas
There are several investment options that give very high annual returns but investors remain keen on the risk involved. Therefore they prefer opting for government-backed schemes that are high or stable on earnings with zero or low risk of principal amount invested.
 Non-filers will have 21 days to file I-T returns, submit response: CBDT
By CA Mayank Jain
The 21-day time period would be from the date of receiving e-mail or SMS from the I-T Department regarding non-filing of tax returns.
 Deduction Of Tax At Source-Income-Tax Deduction From Salaries Under Section 192 Of The Income-Tax Act, 1961
By CA Atul Gupta
Reference is invited to Circular No. 29/2017 dated 05.12.2017 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192 of the Income-tax Act, 1961
 Deduction Of Tax At Source-Income-Tax Deduction From Salaries Under Section 192 Of The Income-Tax Act, 1961
By CA Mayank Jain
Reference is invited to Circular No. 29/2017 dated 05.12.2017 whereby the rates of deduction of income-tax from the payment of income under the head "Salaries" under Section 192 of the Income-tax Act, 1961
 5 mistakes you should avoid while filing income tax returnsa
By CA Manu T George
A number of documents are involved in the process individuals often end up making mistakes that can complicate the process further.
 Income tax exemption, relief for farmers? 5 expectations from interim budget 2019
By CA Andrew F Thomas
The finance minister made it clear a few days ago that budget will be driven by economic issues that need quick resolution and the process may “go beyond” a vote on account.
 PCIT vs. Perfect Circle India Pvt. Ltd (Bombay High Court)
By CA Atul Gupta
S. 40(a)(ia): The second proviso to s. 40(a)(ia) is beneficial to the assessee and is declaratory and curative in nature. Accordingly, it must be given retrospective effect
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Continuing Prof. Edu.   RSS Feeds
  Forensic Audit and Transfer Pricing and TDS compliance
By CA Nilesh Sahu
Place: Connaught Place CPE Study Circle of NIRC Date: 24-01-2019 – To: 24-01-2019 CPE.Hrs.: 5
 Latest Amendment in GST including 31 & 32 GST Council Meeting
By CA Andrew F Thomas
Place: Panipat Branch Of NIRC Date: 02-02-2019 – To: 02-02-2019 CPE.hrs.: 3
 GST Latest updates and Export and refund
By CA Nilesh Sahu
Place: Connaught Place CPE Study Circle of NIRC Date: 22-01-2019 – To: 22-01-2019 CPE.Hrs.: 5
 Drafting and Preparation of Income Tax Appeals before CIT(A) & ITAT, Cross Objection before ITAT and other Matters before Appellate Authorities.
By CA S K Verma
Place: Karol Bagh Westend CPE Study Circle of NIRC Date: 18-01-2019 – To: 18-01-2019 CPE.Hrs.: 4
 Latest Amendments in GST
By CA Atul Gupta
Place: Rohini CPE Study Circle of NIRC Date: 21-01-2019 – To: 21-01-2019 CPE.Hrs.: 4
  Preparation & Arguments before ITAT & CIT(A) in case of Penny Stocks and GST – Latest Amendments
By CA Mayank Jain
Place: Shastri Nagar CPE Study Circle of NIRC of ICAI Date: 19-01-2019 – To: 19-01-2019 CPE.Hrs.: 6
 Preparation & Arguments before ITAT & CIT(A) in case of Penny Stocks and GST – Latest Amendments
By CA Ojas Aggarwal
Place: Shastri Nagar CPE Study Circle of NIRC of ICAI Date: 19-01-2019 – To: 19-01-2019 CPE.Hrs.: 6
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GST - Goods and Services Tax   RSS Feeds
 GST: These 10 judgments should offer clarity on ambiguous rules
By CA Atul Gupta
While the government has amended the GST law a few times since its rollout, a lot of the changes in the provisions and concepts of the new indirect tax regime came about due to court rulings.
 Here's what will become cheaper for you GST Council meet
By CA Nilesh Sahu
The Central Government has notified new forms for annual Goods and Services Tax (GST) returns. These forms are to be filed by businesses registered under the GST regime by June 30, 2019.
 Government notifies new annual GST return forms
By CA Rashmi Sharma
The government has notified new annual GST return forms, which are required to be filed by businesses registered under the Goods and Services Tax regime by June 30, 2019.
 Goods And Service Tax (GST) Concept & Status As On 1st January, 2019
By CA Atul Gupta
The uniform system of taxation, which, with a few exceptions of no great consequence, takes place in all the different parts of the United Kingdom of Great Britain, leaves the interior commerce of the country, the inland and coasting trade, almost entirely free.
 GST net: Spotting tax evasion easier under new regime
By CA S K Verma
As a multi-stage levy, the goods and services tax (GST) was supposed to make evasion difficult, but the figures for the first nine months of the current fiscal show either evasion has increased or its detection has become more efficient under the GST regime.
 9 Facts You Must Know about the New GST Limit of Rs40 lakh
By CA Ojas Aggarwal
The Goods and Services Tax (GST) council, at its 32nd meeting held last week, announced several changes including the fact that the new limit for registration under GST
 GST will improve our competitiveness
By CA Mayank Jain
Once again, the GST Council has made important modifications to the GST regime that will reinforce its growth potency. By raising thresholds, lowering frequency of returns and including services under the composition scheme, the Council has boosted ‘ease of doing business’ for small enterprises.
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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
 How income tax slabs have changed since Independence
By CA Rashmi Sharma
From an eye-watering 97.75 per cent as the highest tax rate and 11 tax slabs, to 30 per cent as the highest rate and three slabs, India and her taxpayers have come a long way since Independence.
 Budget 2019: This Budget could have some surprises in store
By CA Devender Singh
While homebuyers want the government to create a stressed asset fund to deal with incomplete projects, developers are hoping that the government will bring stamp duty within the purview of GST.
 Income Tax return processing time to reduce from 63 days to just 1 day
By CA Nilesh Sahu
The Union Cabinet on Wednesday approved an integrated income-tax e-filing and centralised processing centre (CPC) portal, which will reduce the return processing time from 63 days to just one day.
 Govt eases norms for start-ups seeking exemptions from 'angel tax'
By CA Devender Singh
Facing sustained pressure from start-ups and venture capital funds over the so-called angel tax, the government has relaxed norms for seeking exemptions from the controversial levy.
 Maximise tax savings using health insurance for yourself and family
By CA S K Verma
Payments made towards health insurance premiums are also eligible for tax deductions under section 80D of the Indian Income Tax Act
 FinMin considers steps to prevent composition dealers from charging GST from buyers
By CA Atul Gupta
In a consumer-friendly measure, the revenue department is planning to make it mandatory for composition dealers and service providers to declare their GST registration status in invoices to ensure that they do not charge any tax from buyers.
 Do-it-yourself online filers may need to ask for some help this tax season
By CA Atul Gupta
Ever wonder how people deal with often-loathed tax preparations on their own? By doing other things at the same time, it turns out.
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Corporate Law   RSS Feeds
 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.
 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.
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Students   RSS Feeds
 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.
 ICAI to launch ‘Optional Online Articles Placement Portal’ for CA Students
By CA Atul Gupta
The Institute of Chartered Accountants of India ( ICAI ) has decided to launch an Optional Online Articles Placement Portal, to assist the eligible Chartered Accountants students in getting placement in CA firms for articles training as well facilitate the CA firms.
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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
 Result of CPT, Foundation, Final(Old) & Final(New) Examination held in Nov / Dec 2018 is likely to be declared on Wednesday, the 23rd January 2019, around 6 P.M. at
By CA Rashmi Sharma
Result of CPT, Foundation, Final(Old) & Final(New) Examination held in Nov / Dec 2018 is likely to be declared on Wednesday, the 23rd January 2019, around 6 P.M. at
 Guidance Note on Audit of Banks 2019 edition: Section C - Bank Branch Audit other than Foreign Exchange Transactions issued by the Auditing and Assurance Standards Board
By CA Atul Gupta
Members' attention is invited to relevant directions/circulars issued by the Reserve Bank of India up to January 1, 2019 included in a Pen Drive/CD accompanying this Guidance Note for ease of use and reference.
 Guidance Note on Reports In Company Prospectuses (Revised 2019) issued by the Auditing and Assurance Standards Board
By CA Mayank Jain
The Auditing and Assurance Standards Board (AASB) of ICAI had issued the "Guidance Note on Reports in Company Prospectuses" in 2006 to provide guidance to the members carrying out engagements to issue reports in prospectuses issued by companies.
 CPE Events 21th January -26th January2019
By CA Atul Gupta
CPE Events 21th January -26th January2019
  Guidance Note on Audit of Banks 2019 edition: Section A - Statutory Central Audit issued by the Auditing and Assurance Standards Board
By CA Atul Gupta
Members' attention is invited to relevant directions/circulars issued by the Reserve Bank of India up to January 1, 2019 included in a Pen Drive/CD accompanying this Guidance Note for ease of use and reference.
 Suggestions from Members of ICAI for Publication on Professional Opportunities
By CA Mayank Jain
PDC invites the valuable suggestions from the Members of ICAI relating to Empanelment Opportunities available in India (District and State wise) and Abroad for Practising Chartered Accountants with complete details of opportunities,schemes,eligibility criteria,source with weblink for its revised edition of Publication on Professional Opportunities.
  Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) - Adv. Information Technology Test - Computer Based Mode
By CA Manu T George
The computer based test will be held at the following cities provided sufficient number of candidates offer themselves to appear in the test, from the said cities. ICAI reserves the right to cancel the centre and allot the candidates to any centre / city other than the one he / she has opted for,
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From the Courts   RSS Feeds
 Jagdamba Prasad Gupta 108, Block-B, Phase-1, Vivek Vihar, Delhi. vs. ACIT Circle 35(1) New Delhi.
By CA Nilesh Sahu
This appeal by assessee has been directed against the order of Ld. CIT(Appeals)-19, New Delhi dated 15/01/2016 for AY 2011-12, challenging the levy of penalty u/s 271(1)(c ) of the I.T. Act.
 Microsoft India (R &D) Pvt. Ltd. 807, New Delhi House, Barakhamba Road New Delhi vs. DCIT Circle 16(2) C. R. Building New Delhi
By CA Devender Singh
This appeal is filed by the assessee against the order dated 25/11/2016 passed by DCIT, Circle 16(2), New Delhi, u/s 143(3) read with 144C of the Income Tax Act, 1961 for the Assessment Year 2012-13.
 M/s SSK Chemicals Pvt. Ltd. WZ-177J, Gali No. 16, Block-G, Jail Road, Hari Nagar, New Delhi. vs. Pr. CIT-8, New Delhi.
By CA S K Verma
The assessee has been notified the date of hearing through Registered Post, however, none appeared on behalf of the assessee at the time of hearing of the appeal.
 Mr Pawan Dalmia, MD of the company admitted that the company was involved in providing accommodation entries
By CA Ojas Aggarwal
Mr Pawan Dalmia, MD of the company admitted that the company was involved in providing accommodation entries, Referred Sections:, Section 68 of the, Income- tax Act, 1961, Section 10(38) of the Act., Section 131 of the Act, Section 68 of the Act.
 Active Securities Ltd. 17B, MGF House, Asaf Ali Road, New Delhi vs. ITO Ward-1(2) Range-1 New Delhi
By CA Rashmi Sharma
The Ld. AR submitted that during the year under consideration, the applicant offered entire income of Rs.7,20,05,597 including lease rental of Rs. 7,20,05,597 including lease rental of Rs.7,14,42,090 received from Emaar MGF, as business income in the return of income after claiming deduction of expenses incurred thereof.
 Bharathi Cement Corporation Pvt Ltd vs. ACIT (ITAT Hyderabad)
By CA Andrew F Thomas
S. 28(iv) /68: Bogus share premium: The fact that the premium is abnormally high as per test of human probabilities is not sufficient. The AO has to lift the corporate veil & determine whether any benefit is passed on to the shareholders/directors. Directions issued to AO to establish whether assessee company was used as a vehicle to pass on the benefit to shareholders/directors
 Ankita A. Choksey vs. ITO (Bombay High Court)
By CA Nilesh Sahu
S. 147 Reopening of S. 143(1) Intimations: The mere fact that the return is processed u/s 143(1) does not give the AO a carte blanche to issue a reopening notice. The basic condition precedent of 'reason to believe' applies even to s. 143(1) intimations. If the assessee claims the facts recorded in the reasons are not correct, the order on objection must deal with them. Otherwise an adverse inference can be drawn against the Revenue
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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
 Amendment in companies Act & Standards on Auditing
By CA Devender Singh
Place: East End CA Study Circle of NIRC Date: 23-01-2019 – To: 23-01-2019 CPE.Hrs.: 4
 Reserve Bank of India invites comments on Authorisation of New Retail Payment Systems
By CA S K Verma
The Reserve Bank has today placed on its website a policy paper on Authorisation of New Retail Payment Systems for public comments.
 Reflections on Current Policy Issues Facing the Indian Economy (By Shri Shaktikanta Das, Governor, Reserve Bank of India, delivered at the Investors’ Roundtable, 9th Vibrant Gujarat Global Summit 2019 on Friday, January 18, 2019)
By CA Ojas Aggarwal
I am very happy to participate in the 9th edition of Vibrant Gujarat Global Summit. It is indeed a pleasure to be here and share my thoughts on various contours of the Indian economy.
 Auction for Sale (Issue / Re-issue) of Government Stock (GS) January 21, 2019
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).
 Auction of Government of India Dated Securities January 21, 2019
By CA Rashmi Sharma
The auction for the new security will be yield based and for other securities it will be price based using multiple price method. The Reserve Bank of India at Mumbai will conduct the auctions.
 Notification No.05/2019 - Central Board Of Indirect Taxes And Customs
By CA Nilesh Sahu
In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Indirect Taxes and Customs No.02/2019-CUSTOMS
 RBI announces the New External Commercial Borrowings (ECB) Framework
By CA Manu T George
As part of the on-going efforts at rationalising multiple regulations framed under FEMA 1999 over a period of time, the regulations governing all types of borrowing and lending transactions between a person resident in India
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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, 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.
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 19.11.2018 To 30.11.2018
By CA S K Verma
Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 19.11.2018 To 30.11.2018
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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
  27.5 LPA-Opening Quality Assurance Manager
By CA Mayank Jain
Salary: INR 25,00,000 - 27,50,000 P.A., PG:CA
  25 LPA-Opening Manager/sr Manager -Tax Compliance
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, CS
 75 LPA-Opening Senior Vice President (corporate Affairs)
By CA Andrew F Thomas
Salary: INR 40,00,000 - 75,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 25 LPA-Opening Manager/sr Manager -Tax Compliance
By CA S K Verma
Salary: INR 20,00,000 - 25,00,000 P.A., Functional Area:Accounts , Finance , Tax , Company Secretary , Audit, PG:CA, CS
 23 LPA-Opening Manager- Financial Planning & Analysis
By CA Ojas Aggarwal
Salary: INR 13,00,000 - 23,00,000 P.A.,Functional Area:Accounts , Finance , Tax , Company Secretary , Audit
 95 LPA-Opening Financial Auditors And Accountants
By CA Ojas Aggarwal
Salary: INR 37,50,000 - 95,00,000 P.A., Functional Area:Accounts, Finance, Tax, Company Secretary, Audit
 60 LPA-Opening Taxation Accountanta
By CA Atul Gupta
Salary: INR 35,00,000 - 60,00,000 P.A., Functional Area:Accounts, Finance, Tax, Company Secretary, Audit
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Direct Tax   RSS Feeds
 Taxman lists non-filers who carried out high-value transactions in FY19
By CA Manu T George
The income-tax department has drawn up a list of individuals who carried out high-value transactions in financial year 2017-18 but did not file income tax returns. “Analysis was carried out to identify non-filers about whom specific information was available in the database of the department,” the Central Board of Direct Taxes (CBDT) said in a statement on Tuesday.
  CBDT breather soon on past angel tax demands
By CA Mayank Jain
In what will come as a relief for startups that have already been sent assessment orders and firm tax demands under the so-called 'angel tax,' the Central Board of Direct Taxes (CBDT) will soon issue a circular directing field officials not to press for payment until the case has been decided at the first stage of appeal.
 Why you should choose your tax saving options wisely
By CA Nilesh Sahu
Kavish has just started his career and he is already being approached by sellers and agents pushing products that come with tax benefits.
 CBDT breather soon on past angel tax demands
By CA Ojas Aggarwal
In what will come as a relief for startups that have already been sent assessment orders and firm tax demands under the so-called ‘angel tax,’ the Central Board of Direct Taxes (CBDT) will soon issue a circular directing field officials not to press for payment until the case has been decided at the first stage of appeal.
 Infosys-built system to cut tax return processing time to 24 hours by 2020
By CA Ojas Aggarwal
By 2020 taxpayers will have their income tax filing system run not by "Sarkari" IT teams but by IT major Infosys. The union cabinet on Wednesday cleared a Rs 4240 crore worth proposal that promises to trim down processing of returns from the current average of 63 days to just one day.
 Notification No. 04/2019-Central Board of Indirect Taxes and Customs
By CA Andrew F Thomas
In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes & Customs, being satisfied that it is necessary and expedient so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 36/2001-Customs (N.T.)
 Income tax exemption limit likely to be increased to Rs 5 lakh
By CA Rashmi Sharma
Jaitley may double the income tax exemption threshold for the salaried from Rs 2.5 lakh currently to Rs 5 lakh and reinstate tax-free status for medical expenses and transport allowance.
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Tenders   RSS Feeds
 Tamil Nadu Industrial Investment Limited, Chennai, Tamil Nadu
By CA Rashmi Sharma
The Request for Proposal document contains statements derived from information that is believed to be relevant at the date but does not purport to provide all the information that may be necessary or desirable to enable an intending contracting party to determine whether or not to enter into a contract or arrangement with TIIC.
 Educational Consultants India Limited, Multi Location
By CA S K Verma
Invites tender in sealed covers (Two Packet System), from reputed firms of Chartered Accountants for appointment of Chartered Accountant Firm to undertake work of Internal Audit (Quarterly Intervals) for its Corporate ffice at Noida and its branch offices at Barakhamba Rd. New Delhi.
 Jammu And Kashmir State Power Development Corporation Limited, Jammu And Kashmir
By CA Ojas Aggarwal
The Jammu & Kashmir State Power Development Corporation Limited, a public sector enterprise of Government of Jammu & Kashmir, is a power generating utility having 21 hydro projects across the State of Jammu & Kashmir and one Gas Turbine at Pampore, Kashmir.
 Chhattisgarh Road Development Corporation Limited, Raipur, Chhattisgarh
By CA Devender Singh
Chhattisgarh Road Development Corporation Limited Raipur invites proposals from the interested Chartered Accountancy Firms to work as GST Consultant of CGRDC having its scope of work as described in the RFP.
 Indian Institute Of Technology, Jodhpur - Rajasthan
By CA S K Verma
Indian Institute of Technology Jodhpur, (hereinafter referred to as the "IIT, Jodhpur") invites Proposals from well-established reputed Chartered Accountancy Firms (Hereinafter called `Firm")
  Madhya Pradesh Paschim Kshetra Vidvut Vitaran Company Limited, Indore, Madhya Pradesh
By CA S K Verma
The above schedules should be filled online in specified templates and the supporting documents should also be attached online. Please note that in absence of the supporting documents the offer may not be evaluated & is liable for rejection.
 Comptroller and Auditor General of India, new Delhi
By CA Rashmi Sharma
Online Applications are invited from Chartered Accountant firms/LLPs who desire to be empanelled with the office of the Comptroller and Auditor General of India for the year 2019-2020
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Transfer Pricing   RSS Feeds
  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.
 Private Company, New Delhi
By CA Manu T George
Mobile Creches for working mother's children, invites Expression of Interest (EOI) from reputed Indian Chartered/Cost Accountant Firms (Part nersh Internal Audit for the year 2019- 20.
 Motilal Nehru National Institute Of Technology, Allahabad, Uttar Pradesh
By CA Rashmi Sharma
Motilal Nehru National Institute of Technology invites most competitive quotation from the eligible chartered accountant firms as per the terms & conditions mentioned in the tender document.
 I-T tribunal sends back Microsoft transfer pricing case to tax officer
By CA Manu T George
An income tax (I-T) tribunal has asked the assessing officer to again do the calculation for transfer pricing adjustments to the taxable income of Microsoft India (R&D) Ltd, which renders software development services to group companies.
 Transfer Pricing Adjustment - Status and Way Forward
By CA Rashmi Sharma
The issue of Advertising, Marketing and Promotion ('AMP") expenses is no longer res integra and has been dealt with by many high courts in India. The decisions of the high courts in various matters are now pending with the Supreme Court of India by way of Special Leave Petitions filed by Tax department as well as taxpayers.
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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
 India merger and acquisitions reached all time high in 2018: Thomson Reuters Data
By CA Manu T George
Number of announced deals also grew 17.2% from a year ago and witnessed the busiest annual period since records began in 1980, it said. The average M&A deal size for transactions with disclosed values increased to US$127.8 million in 2018 compared to US$82.8 million over the same period last year.
 The Indian merger control regime - A quick snapshot of the key highlights of 2018
By CA Devender Singh
2018 witnessed generally swift and speedy approvals by the CCI. Yet again the CCI showed its maturity whether it was dealing with cases under the new Insolvency and Bankruptcy Code 2016
 Are forced bank mergers an emerging risk for investors?
By CA Devender Singh
Twice is coincidence. Three times is enemy action. The anti-hero Goldfinger’s retort in Ian Fleming’s popular series on a British spy is a fitting description of the recent spate of mergers and acquisitions in India’s banking industry.
  Deals of the day-Mergers and acquisitions January 3, 2019
By CA Atul Gupta
Bristol-Myers Squibb Co said it would buy Celgene Corp for about $74 billion, creating one of the biggest pharmaceutical companies and combining two significant cancer drug businesses.
 India merger and acquisitions reached all time high in 2018
By CA Mayank Jain
Number of announced deals also grew 17.2% from a year ago and witnessed the busiest annual period since records began in 1980, it said.
 Deals of the day-Mergers and acquisitions January 3, 2019
By CA Rashmi Sharma
Shares of Arconic Inc closed up 9.7 percent after Bloomberg reported that Apollo Global Management LLC is in talks to buy the U.S. aluminum products maker for about $22 a share, citing people familiar with the matter.
 7 biggest agency mergers, acquisitions and shake-ups of 2018
By CA Andrew F Thomas
The Kirshenbaum Bond Senecal & Partners name vanished when the MDC Partners company merged with sibling Forsman & Bodenfors in mid-September, taking on the Swedish shop's name.
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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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