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Top Headlines   RSS Feeds
 Avoid these three errors at all costs Filing tax returns
By Jude Marg
The income tax returns (ITR) filing process has undergone a major overhaul this year. The income tax department has developed a new e-filing portal, introduced free-of-cost ITR preparation software and even brought in pre-filled ITR forms to ease the process of tax filing.
  All you need to know NPS offers triple income tax benefits.
 Income-tax (29th Amendment) Rules, 2021
By Orion M.
In exercise of the powers conferred by second proviso to clause (i) sub-section (1) of section 142 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend Income-tax
 Extension of time lines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22
By Raul N Tiem
On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of Income-tax retums and various reports of audit under the provisions of Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in exercise of its powers under Section 119 of the Act, provides relaxation in respect of the following compliances:
 PPF or NPS: Where to invest to save tax under section 80C?
By Sandy Mash
Rather than trying to figure out which is better between PPF and NPS, make the best use of both of them in accumulating a sizable corpus over the long term.
 Income tax return filing deadline for FY 2020-21 extended to December 31, 2021
By Andrew F Thomas
The government has once again extended the deadline to file income tax return (ITR) for FY 2020-21 by three months to December 31, 2021 from September 30, 2021. The deadline has been extended due to glitches on the new income tax portal which had made it difficult for scores of taxpayers to complete their ITR filing process.
 Income-Tax return (ITR) filing deadline for FY21 extended again. Details here
By Orion M.
The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st July, 2021 under sub-section (1) of section 139 of the Act, as extended to 30th September, 2021 vide Circular No.9/2021 dated 20.05.2021, is hereby further extended to 31st December, 2021," Finance Ministry said in a statement.
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Continuing Prof. Edu.   RSS Feeds
 Issues Relating to Detention and Confiscation of Goods & Recent Amendments and Case Laws Under GST
 Taxation of Partnership Firm Sections 9B and 45(4) Of Income Tax; MSME Subsidies; & Practical Issues In G.S.T.
 Latest Jurisprudence under the Income Tax Act, 1961 on Tax Audit / Presumptive Taxation
 One Day Seminar on Professional opportunity in GST for Young Members
  Discussion on Recent Amendment in Tax Audit Under Sec.44 AB OF Income Tax ACT
 VCM on Tax Audit & Sec-44AB under IT Act and Ind AS on Leases
 Discussion on Recent Amendment in Tax Audit Under Sec.44 AB OF Income Tax ACT
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GST - Goods and Services Tax   RSS Feeds
 Petrol, diesel under GST? Decision on Friday
By Henry Richards
The GST Council might on Friday consider taxing petrol, diesel and other petroleum products under the single national GST regime, a move that may require huge compromises by both central and state governments on the revenues they collect from taxing these products.
 GST new rule! Non-filers of GST returns to be barred from filing GSTR-1 from Sept 1
By Jude Marg
Businesses have to file GSTR-1 by the 11th day of the subsequent month while they can file GSTR-3B in a staggered manner between the 20th-24th day of the succeeding month.
 Central GST Commissionerate detects multi-crore tax evasion
 GST Council focus on pruning exemptions, fixing anomalies
By Raul N Tiem
The next meeting of the Goods and Services Tax (GST) Council will consider pruning the list of tax-exempt items and fixing the anomaly of raw materials getting taxed more than certain finished products, revenue secretary Tarun Bajaj said. The council will approach these issues while sticking to the overall principle of tax stability.
 Businesses can now self-certify GST returns, instead of mandatory CA audit
By Henry Richards
GST taxpayers with a turnover of over Rs 5 crore can now self-certify their annual return, instead of a mandatory audit certification by chartered accountants, the CBIC has said
 Central and State officials discussimplementation of GST Acts
By Andrew F Thomas
Senior officials of the Revenue Department of Andhra Pradesh, led by its Special Chief Secretary Rajat Bharagava, and Central and State GST officials discussed the strategy to be adopted for effective implementation of the GST Acts, at the State Tax Chief Commissionerate here on Thursday.
 Service rendered without element of any charge may not qualify for GST
By Jude Marg
The Kerala Authority of Advance Ruling (AAR) has ruled that no GST is payable on payment of examination fee made on behalf of students as a pure agent without any element of service charge for such service, either from the students or the agency where the fee is being routed.
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General   RSS Feeds
 Securities transaction tax collection in Sept to exceed full year's target
 How to Clear Gmail, Google Data Without Paying for Extra Storage Google Drive Full
By Andrew F Thomas
While filing ITR there are too many things that one needs to get in order - investment proofs, Form 16, TDS certificates etc. However, in this rush taxpayers often forget to look into minor details, which if ignored can hamper the entire process.
 No taxable income? Why you may still need to file ITR for these reasons
By Thomas T. Rucks
Income tax return (ITR) filing is mandatory for those whose taxable income is more than the exempted threshold limit. However, there are situations when an individual would need to file ITR even if his/her total income is below the exempted limit.
 Include cryptocurrency gains in income-tax returns, say analysts
By M. George
Around 15 million investors have invested in cryptocurrencies worth Rs 15,000 crore, according to estimates provided by the Indian crypto industry.
 Issues with new income tax portal to be resolved soon, says FM
By Thomas T. Rucks
Sitharaman said Infosys had done trial runs before the June 7 launch but users faced technical issues in accessing the portal.
 ITR Filing! You can file income tax returns OFFLINE, ONLINE. Step-by-step guide here
By Raul N Tiem
The last date to file income tax returns for the financial year 2020-21 has been extended till September 30, 2021.
 Govt conducts review of legal issues in GST system: Report
By Moshe Pras
The Centre has begun a comprehensive review of the Goods and Services Tax (GST) law to examine issues that have emerged in the system.
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Corporate Law   RSS Feeds
 Critical Issues of ICDS and Impact Of DHC Judgement and Correcponding Amendments to Income Tax Act by Finance Act, 2018 and Interplay between them and Reporting
 How to do Audit of Proprietorship and Partnership Firm in the light of new amendment in Tax Audit under Section 44AB
 SC relaxes Dress Code for Lawyers
By Sandy Mash
The due date for filing Income Tax Return (ITR) has been extended to November 30, 2020. Every year taxpayers are required to pay taxes on their income and income from other sources. However, paying taxes can be burdensome, which is why the government introducing ITR filing procedure.
 COVID-19 crisis is an opportunity to redefine tax policy and law
By Thomas T. Rucks
The Covid 19 crisis is an opportunity to redefine tax policy and law. A calibrated approach to balance welfare economics with a vision to pioneer economic activity and national growth is needed.
  GST & Companies Act way Forward
By Thomas T. Rucks
Place: East Delhi CPE Study Circle of NIRC Date: 06-04-2019 – To: 06-04-2019 CPE.Hrs.: 5
 Taxmen use rare law to collect dues directly from bank accounts of evaders
By M. George
Revenue officials, chasing huge tax collection deficit, are moving into top gear to maximise collections by year end even if that means deducting money directly from your bank account to fill a gap of thousands of crores.
 Income tax law needs to be a lot simpler
By M. George
Simplifying the Income Tax Act, automating tax collection and return processing and making the process user-friendly are priorities for the National Democratic Alliance (NDA) government, finance minister Piyush Goyal said.
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Students   RSS Feeds
 Certificate Course on Public Finance & Government Accounting 9th Online Batch (Morning)
By Sandy Mash
The Committee on Public & Government Financial Management of ICAI is pleased to announce the 9th online batch of Certificate Course on Public Finance & Government Accounting commencing from 14th March, 2021 (on weekends only-Saturday & Sunday) as per the schedule given herein below.
 1st Online Batch of Certificate Course on Derivatives from 6th February 2021
By Raul N Tiem
Online Certificate Course on Derivatives The Committee on Capital Market and Investors Protection is pleased to announce its 1 stOnline batch of Certificate Course on Derivatives as per below details
 Change of Examination Centre for January / February 2021.
By M. George
It is hereby informed that due to unavoidable circumstances, examination centre at Allahabad (Uttar Pradesh), as per details given below has been changed.
 Notification for Eligibility Test (ET) for Post Qualification Course on Information Systems Audit (ISA) on Saturday the 23rd January, 2021 from 11:00 AM to 01:30 PM
By Orion M.
This time the Eligibility Test will be held in online mode through DLH portal of ICAI (http://learning.icai.org) for which face recognition & SSP portal login is mandatory.
 Students registered under Intermediate IPC Old Syllabus can write their examinations up to May 2021 examination term: ICAI
By M. George
The Institute of Chartered Accountants of India (ICAI) announced that the Students registered under Intermediate IPC Old Syllabus can write their examinations up to May 2021 examination term.
 Frequently Asked Questions w.r.t May/November 2020 Examination
By Sandy Mash
Whether the student who had applied for May 2020 Exams be required to fill Examination Form For November 2020 afresh.
 3rd Online Batch of Certificate Course on Forex and Treasury Management from 22nd August 2020
By Andrew F Thomas
The Committee on Capital Market and Investors Protection is pleased to announce its 3rd Online batch of Certificate Course on Forex and Treasury Management as per below details
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New Forms   RSS Feeds
 Here s how you can download Form 26AS New income tax website
 Check the revised instructions to fill ITR Form 3, 5, 6 and 7 Income Tax Return
By Andrew F Thomas
There have been several changes made by the central government in the tax structure in the previous 3 to 4 months to link the country's taxation system with other financial systems and making ITR filing easier.
 TDS mismatch in Form 26AS & Form 16? Ask employer to issue new Form 16 with correct details
By Thomas T. Rucks
One must obtain Form 16 (TDS certificate issued by the employer) and verify the same with the Form 26AS.
 Before you file your tax return, note the key changes in Form 16
By Thomas T. Rucks
Part B of Form 16 has been amended seeking more details about the allowances exempt under section 10 such as HRA, LTA, etc and deductions allowed under Chapter VI-A of the Income Tax Act, 1961.
 5 Things to know about Form 16
By Moshe Pras
Form 16 is a certificate issued by an employer, certifying that the TDS is deducted from the salary of the employee and deposited with the government.
 Form 16 will now have more details of your income and deductions
By Orion M.
In yet another attempt to increase transparency and minimize tax evasion, the Central Board of Direct Taxes (CBDT) has notified various changes in the formats of Form 16 and Form 24Q. The new amendments are in line with the changes in income-tax rules and new income tax return (ITR) forms recently notified by CBDT for assessment year (AY) 2019-20.
 Amendment of Form No. 16 and Form No. 24Q
By M. George
In exercise of powers conferred by sections 200 and 203 read with section 295 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,
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Professional Updates   RSS Feeds
 50 LPA Opening Senior Manager - Finance & Accounts
By Jude Marg
Experince: 10 - 15 years., Salary: 40,00,000 - 50,00,000 P.A., Functional Area: Finance & Accounting
 30 LPA Opening Chartered Accountant -Immediate Join-MNC-Beverage Industry Only
By Raul N Tiem
Experince: 10 - 20 years, Salary: 15,00,000 - 30,00,000 P.A., Functional Area: Finance & Accounting
 Announcement by CL&CGC ICAI regarding Extension of time for holding of Annual General Meeting (AGM) for the Financial Year ended on 31.03.2021 by Two Months beyond the due date
By Andrew F Thomas
This is to inform you that the Ministry of Corporate Affairs (Registrar of Companies of various States) vide its Order dated 23.09.2021 has extended the timeline to conduct Annual General Meeting (AGM) of the Companies by two months beyond the due date within which the companies ought to have conducted their AGM for the FY 2020-21 ended on 31.03.2021.
 Avoid these 5 mistakes while filing your income tax return ITR FY2020-21
By Andrew F Thomas
Filing ITR is an important financial exercise. Here are some mistakes that you need to avoid while filing tax return
 Exposure Draft of Deferred Tax related to Assets and Liabilities arising from a Single Transaction - Amendments to Ind AS 12, Income Taxes
By Orion M.
As you are kindly aware that the Indian Accounting Standards (Ind AS) are based on the IFRS Standards issued by the International Accounting Standards Board (IASB). In this regard, it may be noted that IFRS Standards are being issued/revised by the IASB from time to time.
 Aligning the Time Limit of Generating UDIN from 15 days to 60 days
 Please pay Membership/COP fee by 30th September, 2021 to avoid removal of Membership/COP and consequential effects
By M. George
Kindly appreciate that payment of annual Membership/COP fee entitles you for continuing benefits of ICAI privileges and standing seniority in the profession. Non-payment of Membership/COP fee within stipulated time may result in removal of Membership/COP and cessation of Practice.
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From the Courts   RSS Feeds
 Shri Ramit Vohra, Prop. M/s. Impact Enterprises, 9210/5, Multani Dhanda, Pahar Ganj, New Delhi Vs. ACIT, Circle : 63 (1) New Delhi.
By Henry Richards
This appeal is filed by the assessee against the order passed by the ld CIT(A)-20, New Delhi dated 15.03.2019, wherein, the appeal filed by the assessee against the order passed u/s 143(3) read with section 254 of the Act by the ld ACIT, Circle- 63(1), New Delhi dated 27.12.2017 was dismissed.
 Smt. Bhavana Jain, Prop. M/s Akash Metal Industries, outside Barsi Gate, Hansi, Haryana Vs. ITO, Ward-1, Hisar, Haryana
By Moshe Pras
On the facts and in the circumstances of the case and in law the Ld. CIT (Appeals) erred in initiating proceedings u/s 147/148 of the Income Tax Act, 1961 without there being valid reasons leading to belief of escapement of income and also passing order u/s 143(3) r.w.s. 147 of the Act without providing reasons recorded
 M/s Pearey Lal & Sons (E.P.) Pvt. Ltd., New Delhi. Vs. ACIT, Rohtak.
 Rajvanti Devi R/o Liwan Sonipat w/o Phool Kumar 96, R Model Town, Sonipat. Vs. Income Tax Officer, Ward-5, Sonipat.
By Raul N Tiem
The present appeal has been filed by the assessee wherein the correctness of the order dated 22.04.2019 of CIT(A)-6, Rohtak pertaining to 2011-12 assessment year is assailed on various grounds including lack of proper notice and also on the specific ground that the order is passed before the date of hearing itself. Ground No.2 for the sake of completeness is extracted hereunder:
 M/s. Anthena Multitrade Pvt. Ltd. (Formerly known as Good Life Impex Pvt. Ltd.) Vs. Income Tax Officer(E), Ward 6(2), (Old Jurisdiction)
 Ram Naresh Sikarwar, Ballabgarh. Vs. ITO, Ward-II(2), Faridabad.
By Sandy Mash
On the facts and circumstances of the case and legal provisions the learned Commissioner of Income Tax Appeals Faridabad erred in confirming the addition of Rs. 441300 made by the learned Assessing Officer in the assessment Order.
 District Manager, HAFED, Site No.01, Opp.Main Market, Sector-5, Kurukshetra, Haryana Vs. JCIT, TDS Range, Karnal, Haryana
By Jude Marg
This appeal filed by the assessee pertaining to assessment year 2010-11 is directed against the order of Ld. CIT(A), Karnal dated 16.11.2017. The assessee has raised following grounds of appeal
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Auditing   RSS Feeds
 NFRA issues Draft Procedure for Submission of Audit Files
By Andrew F Thomas
The National Financial Reporting Authority (NFRA) on Tuesday issued a notice of draft Procedure for Submission of Audit Files to NFRA.
 Auditors barred from putting a value on companies they are auditing
By Raul N Tiem
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 Jude Marg
Standard on Internal Audit (SIA) 18, Related Parties
 Standard on Internal Audit (SIA) 17, Consideration of Laws and Regulations in an Internal Audit
By Raul N Tiem
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 Henry Richards
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 Moshe Pras
Standard on Internal Audit (SIA) 14, Internal Audit in an Information Technology Environment
 Standard on Internal Audit (SIA) 13, Enterprise Risk Management
By Thomas T. Rucks
Standard on Internal Audit (SIA) 13, Enterprise Risk Management
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Latest Circulars   RSS Feeds
  RBI announces Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 2.0) and Simultaneous Sale of Government of India Securities
 Master Directions on Transfer of Loan Exposures and Securitisation of Standard Assets
By M. George
It may be recalled that the draft guidelines on the above were released for public comments on June 8, 2020. The final Directions issued today have been prepared taking into account inter alia the comments received. The Directions come into effect immediately and all extant related circulars, as listed in the Directions, have been repealed.
  Master Circular on Investments by Primary (Urban) Co-operative Banks
By Jude Marg
Section 19 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) (BR Act, 1949 (AACS)) stipulates that no co- operative bank shall hold shares in any other co-operative society except to such extent and subject to such conditions as the Reserve Bank of India (Reserve Bank) may specify in that behalf. However, nothing contained in the section applies to
  RBI announces Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 2.0) and Simultaneous Sale of Government of India Securities
 RBI announces Open Market Purchase of Government of India Securities under G-sec Acquisition Programme (G-SAP 2.0) and Simultaneous Sale of Government of India Securities
  Master Circular on Investments by Primary (Urban) Co-operative Banks
By M. George
Section 19 of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) (BR Act, 1949 (AACS)) stipulates that no co- operative bank shall hold shares in any other co-operative society except to such extent and subject to such conditions as the Reserve Bank of India (Reserve Bank) may specify in that behalf. However, nothing contained in the section applies
 Master Direction Reserve Bank of India (Market-makers in OTC Derivatives) Directions, 2021
By Henry Richards
The draft Reserve Bank of India (Market-makers in OTC Derivatives) Directions, 2020 were released for public comments on December 04, 2020. Based on the feedback received from the market participants, the draft Directions were reviewed and have since been finalised.
More »
Forex   RSS Feeds
 Perils of an ad hoc forex policy
By Orion M.
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 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 Jude Marg
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 Orion M.
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 M. 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 Orion M.
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 Sandy Mash
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
More »
ITAT-Constitution of Benches   RSS Feeds
 Minimising tax liabilities by lawful means not illegal, says ITAT
 Interest paid on Late Payment of Service Tax is a Deductible Business Expenditure: ITAT
By Andrew F Thomas
Income Tax Appellate Tribunal (ITAT), Delhi bench has held that the amount of interest paid for the delayed payment of services tax shall be treated as a permissible deduction from the Business Income for the purpose of section 37 of the Income Tax Act, 1961.
 ITAT upholds Addition on Account of Unaccounted Cash as no mention of Agricultural Land on Translated Document
By Raul N Tiem
The Income Tax Appellate Tribunal (ITAT), Hyderabad Bench upheld addition on account of unaccounted cash towards sale of land as no mention of agricultural land on translated document.
 Delay in filing of Income Tax Return due to Financial Difficulties: ITAT quashes Penalty
By Orion M.
The Income Tax Appellate Tribunal (ITAT), Bangalore bench, upheld an order of the first appellate authority where the CIT(A) deleted a penalty order imposing Rs. 5000 on a Company for non-furnishing of income tax returns within the prescribed time. The authority found that the reason for delay was financial difficulties which constitute a reasonable cause to avoid penalty under section 271B of the Income Tax Act, 1961.
 ITAT deletes penalty on Undisclosed Income u/s 271AAA
By Moshe Pras
The Income Tax Appellate Tribunal (ITAT), Delhi Bench deleted the penalty on Undisclosed Income under section 271AAA of the Income Tax Act.
 M/s Singh Consultancy Pvt. Ltd. 1106 Indra Prakash Building, 21 Barakhamba Road, New Delhi Vs. Income Tax Officer, Ward-8(4), New Delhi
By Sandy Mash
This appeal filed by the assessee is directed against the order dated 23.12.2016 of the learned CIT(A)-22, New Delhi, relating to Assessment Year 2009-10.
 Penalty proceedings u/s 271(1)(c) not sustainable if reason not specified: ITAT
By Andrew F Thomas
The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the penalty proceedings under section 271(1)(c) are not sustainable if the reason is not specified.
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Finance Bills   RSS Feeds
 The Companies (Removal Of Difficulties) Seventh Order - dated 4th Sept 2014 New
By M. 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 Orion M.
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 Orion M.
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 Thomas T. Rucks
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 Jude Marg
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 M. 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 Moshe Pras
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
 45 LPA Opening Head Finance & Accounts
By Moshe Pras
Experince: 9 - 14 years, Salary: 30,00,000 - 45,00,000 P.A.,Industry Type: Consumer Electronics & Appliances
 27.5 LPA Opening Section Manager/Manager Finance
By Thomas T. Rucks
Experince: 10 - 14 years, Salary: 25,00,000 - 27,50,000 P.A., Functional Area: Finance & Accounting
 35 LPA Opening Chartered Accountant Finance Accounts & Commercial
By Moshe Pras
Experince: 12 - 22 years, Salary: 20,00,000 - 35,00,000 P.A., Functional Area: Finance & Accounting
 18 LPA Opening Senior Tax Accountant
By Thomas T. Rucks
Experince: 4 - 9 years, Salary: 15,00,000 - 18,00,000 P.A., Role: Accountant / Accounts Executive
 1Cr LPA Opening Cheif Financial Officer - - Listed NBFC
By Sandy Mash
Experence: 15 - 24 years, Salary: 70,00,000 - 1 Cr and above P.A., Functional Area{Strategic & Top Management
  55 LPA Opening Corporate Accounts Manager
By Andrew F Thomas
Experence: 8 - 10 years, Salary: 40,00,000 - 55,00,000 P.A., Functional Area: Finance & Accounting
  15 LPA Opening Hiring For Audit/Assurance Manager - CA/CPA/ US GAAP - CTC UPTO 30lac
By Thomas T. Rucks
Experince: 5 - 6 years, Salary: 14,00,000 - 15,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
More »
Markets   RSS Feeds
 Market Top Losers 23/09//2021
By Sandy Mash
Market Top Losers 23/09//2021
 Market Top Gainers 23/09/2021
By Andrew F Thomas
Market Top Gainers 23/09/2021
 Top Ranked Mutual Funds 23/09/2021
By Orion M.
Top Ranked Mutual Funds 23/09/2021
 Market Top Losers 21/09//2021
By Thomas T. Rucks
Market Top Losers 21/09//2021
 Market Top Gainers 21/09/2021
By M. George
Market Top Gainers 21/09/2021
 Top Ranked Mutual Funds 21/09/2021
By Sandy Mash
Top Ranked Mutual Funds 21/09/2021
 Market Top Losers 13/09//2021
By Andrew F Thomas
Market Top Losers 13/09//2021
More »
Direct Tax   RSS Feeds
 These Taxpayers Will Not Pay Late Fee Even If They Miss Deadline Income Tax Return Alert
By Sandy Mash
Income Tax Return: According to the tax laws, not everyone is required to pay penalty for filing ITR after the expiry of the deadline
 Notification No. 115/2021 Central Board Of Direct Taxes
 Notification No. 113/2021 Central Board Of Direct Taxes
By M. George
The completion of any action, referred to in clause (a) of sub-section (1) of section 3 of the said Act, relates to passing of any order for imposition of penalty under Chapter XXI of the Income-tax Act,
 Are you eligible to file ITR? Use this eligibility calculator to avoid penalty notices
By Sandy Mash
In case a person is required to file an income tax return (ITR) but fails to do it, he/she can receive a notice from the income tax department. Also, the tax officer reserves the right to impose a penalty of up to Rs 5,000. It is always better to check the eligibility of one's ITR filing.
 Have freelance income? Know this before switching to new tax regime
By Andrew F Thomas
The Union budget 2020 had introduced a new tax regime with lower tax rates but also fewer tax deductions available for a taxpayer to claim. This is the first assessment year when taxpayers can choose to opt for the new tax regime. The finance bill also allows taxpayers to switch between the old and new tax regimes in the subsequent assessment years, but the rules are not the same for everyone.
 Notification No. 108/2021 Central Board Of Direct Taxes
By Henry Richards
In exercise of the powers conferred by clause (b) of Explanation to sub-section (1H) of section 206C of the Income-tax Act, 1961 (43 of 1961) , the Central Government hereby specifies that, Air India Limited
 CBDT extends deadline for filing application for settlement Details here Income Tax
By Thomas T. Rucks
The Central Board of Direct Taxes (CBDT) on Tuesday said that taxpayers can now file application for settlement till 30th September.
More »
Tenders   RSS Feeds
 Hindustan Copper Limited, Jhunjhunu, Rajasthan
By Jude Marg
The physical balance has to be verified at Main Stores & site stores with the Price Stores Ledger (PSL). The PSL balance as on 31.12.2020 has to be considered for this purpose. List of items will be provided from KCC. Discrepancies, if any, to be reconciled and necessary details of rectification entries to be passed by the unit has to be made out separately and given along with your report.
 Jharkhand Skill Development Mission Society, Ranchi, Jharkhand
 Deposit Insurance And Credit Guarantee Corporation,Mumbai, Maharasthra
By Andrew F Thomas
The DICGC Act has been amended with a provision in Sec 18 A for discharging the liability towards banks which are placed under restrictions under BR Act. Specifically and exclusively for this purpose and to complete the verification process within the time period, DICGC invites bids [as per DICGC prescribed format (Annexure I)
  Small Industries Development Bank of India, Lucknow, Uttar Pradesh
By Sandy Mash
Bidders are advised to study the tender document carefully. Submission of bids shall be deemed to have been done after careful study and examination of the tender document with full understanding of its implications.
 Metal Scrap Trade Corporation Limited, Kolkata, West Bengal
By Andrew F Thomas
This is an e-procurement event of MSTC The e-procurement service provider is MSTC Limited., Plot no.CF- 18/2, Street No.175, Action Area 1C, New Town, Kolkata - 700156.You are requested to read the terms & conditions of this tender before submitting your online tender.
 The Faridabad Central Co-operative Bank Ltd., Faridabad, Haryana
By Andrew F Thomas
E-tenders are here by invited on behalf of The Faridabad Central Co-operative Bank Ltd., under two Bid system i.e. Technical and Financial for Appointment of well- established and well-reputed Chartered Accountant Firm for 1 year for Concurrent Audit of the Head Office and 33 Branches of this Bank.
 Andhra Pradesh State Fisherman Co-Operative Societies Federation Ltd, Vijayawada, Andhra Pradesh
By Orion M.
AFCOF or any of its designates reserves the right to cancel this request for EoI and/or invite afresh with or without amendments, without liability or any obligation for such request for EoI and without assigning any reason. Information provided at this stage is indicative and AFCOF reserves the right to amend/add further details in the EoI.
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Transfer Pricing   RSS Feeds
 I T department keeps tolerance range for transfer pricing unchanged
By Moshe Pras
In a disappointment to businesses reeling from the Covid impact, the income tax department has kept the tolerance range for transfer pricing unchanged for 2019 20.
 India retains transfer pricing tolerance range for 2019 20
 PCIT rightly directed the Bank of India s case to Transfer Pricing Officer for determining ALP ITAT
 Key Highlights Of The 2nd Edition Of KSA Transfer Pricing Guidelines
By Henry Richards
General Authority of Zakat and Tax (GAZT) in the Kingdom of Saudi Arabia (KSA) released final Transfer Pricing Bylaws (TP Bylaws) in February 2019. Subsequently, in March 2019, GAZT issued the First Edition of Transfer Pricing Guidelines that provide insights and guidance and represents GAZT's views on the application of Transfer Pricing Bylaws.
 ITAT deletes Penalty since Assessee applied Transfer Pricing Provisions with Good faith and Due Diligence
By Raul N Tiem
In a major relief to Tianjin Tianshi India Pvt. Ltd, the Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that the penalty under section 271(1)(c) of the Income Tax Act, 1961 cannot be levied if the transfer pricing provisions under section 92C was handled by the assessee in due diligence without any mala fide intentions.
 Change in transfer pricing regulations to help MNCs
By Jude Marg
The Union budget 2020-21 has proposed to amend the Section 92CB of the Income Tax Act that empowers the Central Board of Direct Taxes to frame safe harbour rules for determination of the arm’s length price. The government has also sought to widen the ambit of Dispute Resolution Panel (DRP).
 National High Speed Rail Corporation Limited, New Delhi, Delhi
By Orion M.
Completed tender documents sealed in an envelope super-scribing the name of work; name and address of the Bidder, shall be submitted at NHSRCL's office at address in Para 1 above before 15.00 hrs. on 10.09.2019.
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Customs and Excise   RSS Feeds
 Notification No. 26/2021 Customs Ministry Of Finance
By Orion M.
In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table below, to the extent specified in the corresponding entries in column (3) of the said Table
 Delhi Customs issues Covid-19 Facilitation Measures: Relaxation in Procedure for Inbonding of Cargo Import under Warehouse Bill of Entry
By Moshe Pras
The Delhi Customs, on Wednesday, issued relaxation in the procedure for Inbonding of Cargo import under Warehouse Bill of Entry as one of the COVID-19 facilitation measures.
 Notification No. 32/2020 CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
By Raul N Tiem
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 amendment in the Notification of the Central Board of Indirect Taxes and Customs No.27/2020-CUSTOMS (N.T.), dated 19thMarch, 2020 with effect from 27th March, 2020, namely: -
  Notification No. 07/2020 Central Board of Indirect Taxes and Customs
By Moshe Pras
­In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council,
 Notification No. 07/2020 Central Board of Indirect Taxes and Customs
By Sandy Mash
­In exercise of the powers conferred by section 168 of the Central Goods and Services Tax Act, 2017 (12 of 2017), read with sub-rule (5) of rule 61 of the Central Goods and Services Tax Rules, 2017 (hereafter in this notification referred to as the said rules), the Commissioner, on the recommendations of the Council,
 Notification No. 01/2020 Central Board of Indirect Taxes and Customs
By Raul N Tiem
In exercise of the powers conferred by sub-section (2) of section 1 of the Finance (No. 2) Act, 2019 (23 of 2019), the Central Government hereby appoints the 1st day of January, 2020, as the date on which the provisions of section 114 of the Finance (No. 2) Act, 2019 (23 of 2019) shall come into force.
  Notification No.91/2019 Central Board Of Indirect Taxes And Customs
By Sandy Mash
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.88/2019-CUSTOMS (N.T.), dated 5th December, 2019
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Mergers and Acquisitions   RSS Feeds
 Govt may further sweeten Air India offer
By Jude Marg
The government may ease some of the conditions for potential bidders of Air India in a renewed effort to privatize the loss-making national carrier, which is crucial to achieving its ambitious divestment goal for this fiscal.
 How India is becoming an unlikely Asian hotspot for mergers & acquisitions
By Moshe Pras
Thanks largely to $15 billion of investments in Jio, India accounts for more than 12% of announced deals in the Asia Pacific region so far this year.
 Notification No. 05/2020-Customs (ADD) Ministry Of Finance
By Andrew F Thomas
Whereas, in the matter of import of `Chlorinated Polyvinyl Chloride Resin (CPVC)-whether or not further processed into compound' (hereinafter referred to as the subject goods), falling under heading 3904 of the First Schedule to the Customs Tariff Act, 1975
 Deals of the day-Mergers and acquisitions March 6, 2020
By Orion M.
India laid out a rescue plan for Yes Bank under which State Bank of India will take a 49% stake in the troubled lender, which is struggling with bad loans.
 Deals of the day-Mergers and acquisitions March 2, 2020
By Moshe Pras
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday
 Mint Investment Summit - M&A in India: Challenges and opportunities
By Thomas T. Rucks
Top business minds will from different companies will come together to discuss the challenges and the opportunities for mergers and acquisitions in India. The panelists, to discuss and debate the subject of M&A in India: Challenges and opportunities,
 Record Year 2019: Fintech Deals, Mergers and Acquisitions Study
By Thomas T. Rucks
019 was the most active year for fintech financing, mergers and acquisitions (M&A), and initial public offerings (IPOs), according to a new report by Financial Technology (FT) Partners.
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Indirect Tax   RSS Feeds
 Investment tips for those opting for new tax regime
By Henry Richards
The nationwide lockdown over the COVID-19 pandemic shouldn’t ideally distract you from the fact that we are in April that also marks the beginning of the new Financial Year2020-21. In fact, you should utilise this time to plan your tax-saving measures for the current financial year.
 Indirect tax dept issues notices to companies over late input credit claim under GST frame
By M. George
The indirect tax department has issued notices to thousands of companies that had claimed late input tax credit under GST framework and thereby asked them to reverse the transaction. These companies had claimed the input tax credit for fiscal 2018 and 2019 after missing the September deadline.
 E-generated document required for indirect tax notices
By Jude Marg
In a Frequently Asked Questions (FAQs) issued by Institute of Chartered Accountants of India ( ICAI ) Unique Document Identification Number (UDIN) said that, Chartered Accountants ( CA ) are not authorised to certify Income Tax Return (ITR) as True copy.
 FinMin seeks industry inputs on direct, indirect tax changes
By M. George
The finance ministry for the first time has sought suggestions on changes in direct and indirect tax rates from the industry. This comes at a time when a revenue shortfall and consumption slowdown are threatening to upset the government’s finances.
 Govt gives businesses four months to settle indirect tax disputes
By Sandy Mash
Businesses can now settle their pending disputes relating to central excise duty and service tax within four months starting 1 September under the terms notified by the government on Thursday.
 ITR filing becomes easy via new 'e-Filing Lite' portal - 5 things to know Income Tax Return
By Raul N Tiem
Income Tax Return: Income Tax department has made lives easier for the taxpayers by launching 'e-Filing Lite' portal. The portal is meant for the tax payers who find filing of income tax returns (ITR) on their own a complicated and time-taking process.
 No income tax on interest from accident compensation: High Court
By M. George
Forty years after an eight-year-old city boy was left maimed for life in a car accident, the Bombay High Court on Thursday held that income tax should not have been deducted from the interest on the compensation awarded by the court. The ruling was given by a bench of justices Akil Kureshi and S J Kathawalla on a plea by accident victim Rupesh Shah, now 48.
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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 Moshe Pras
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 Moshe Pras
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 Thomas T. Rucks
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 Henry Richards
Toys, games and sports requisites; parts and accessories thereof
 Customs Tariff 2009-10 - PART-II - Chapter 94 - Furniture; bedding, mattresses, mattress supports
By Moshe Pras
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 Orion M.
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 Jude Marg
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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