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Top Headlines   RSS Feeds
 Notification No. 09/2021 CENTRAL BOARD OF DIRECT TAXES
By Jude Marg
In exercise of the powers conferred by section 3 of the Direct Tax Vivad se Vishwas Act, 2020 (3 of 2020), the Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), number 85/2020, dated the 27th October, 2020, published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), vide number S.O. 3847(E), dated 27th October, 2020,
 New PF taxation rules yet to be prescribed
By Jude Marg
We assume that the query is in the context of Employee Provident Fund (EPF) contributions. As per the amendment proposed vide Budget 2021, interest accrued on contribution in excess of ₹2.5 lakh made by an employee to any EPF account for any financial year starting from 1 April 2021 shall now be taxable. Please note the rules governing the manner and timing of computation of such taxable interest have not yet been prescribed.
 Here are 7 other tax-saving investment options for you Exhausted 80C limit?
 How section 80C of the Income-tax Act works Tax saving
By Raul N Tiem
One of the most common deductions available under the Income-tax Act, 1961 is section 80C.
 5 tax saving schemes with guaranteed returns up to 7.6%
 10 Tips to Save your Income Tax this Financial Year
By M. George
Apart from the fact that taxes are viewed as a financial burden, what could further add to the stress could be a lack of knowledge about tax-planning. A majority of taxpayers struggle with fitting the tax-saving piece in the puzzle of their finances.
 Exhausted 80C limit? You can still get tax benefits on life insurance premium this year
By Raul N Tiem
Due to the presence of so many components, the 80C limit gets exhausted quickly and taxpayers couldn't get benefits on many other tax-saving investments.
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Continuing Prof. Edu.   RSS Feeds
 Women Empowerment Seminar on theme Success thru Passion in profession
 VCM-Recent GST Changes & QRMP Scheme Update
 Fake Invoices & Fake GST Credit Caution & Precaution
 Which ITR form should I file to claim TDS deducted from NRO account Your Income Tax Queries
By Thomas T. Rucks
I am a seafarer. I had completed my Non-Resident External account days during FY2019-20. I received my salary in my NRE account. Which ITR form should I file to claim TDS deducted from NRO account?
 Virtual CPE Meeting on TDS on payment to NR & related Issues
 VCM-Snapshot of Internal Audit in Govt Sector and Valuation of Equity Share under Companies Act, Income Tax Act, DCF Method
 Salient Features of Direct Tax Provisions in Finance Bill 2021
More »
GST - Goods and Services Tax   RSS Feeds
 Bombay HC dismisses GST Practitioners Association s plea for GSTR9/9C due date extension
 GSTN issues Advisory on Reconciliation Statement to be filed in GSTR-9C
By Jude Marg
The Goods and Service Tax Network (GSTN) issued the Advisory on Reconciliation Statement to be filed in GSTR-9C.
 GST: Know the Resolution for emsigner error you get while filing GST Return with DSC
 Bitcoin trade may attract I-T, GST; taxes to be paid in this fiscal year
 Mismatches in tax returns may cost  GST registration instantly
By Raul N Tiem
Goods and services tax registrations for businesses could be suspended immediately if there is a mismatch in sales returns filed by the company and those filed by their suppliers.
 More run-ins likely over FY22 GST compensation
 GSTN enables feature to opt in for Composition available for FY 2021-22
By Henry Richards
The Goods and Service Tax Network has enabled the feature to opt in for composition available for Financial Year 2021-22 at the Common GST Portal.
More »
General   RSS Feeds
 Interest from NRE account is exempt from tax
By Henry Richards
Interest income from an NRE account is exempt from tax in India for NRIs. However, such income may have to be clubbed with your total income reported in the UK, according to local tax laws. It is recommended that you seek assistance from an expert to identify the tax implications of earning an interest income outside of the UK and whether any benefits are available to you under the Double Tax Avoidance Agreement.
 Amid dwindling interest rates, LIC of India launches new plan with guaranteed tax-free return
 VMC to act tough on property tax defaulters
 Tax on PF interest will change the way we invest in it: How the Budget hits your PF
By Raul N Tiem
The proposed tax on Provident Fund interest has come like a bolt from the blue for high-income earners and HNIs who squirrel away huge sums into this taxfree haven. Though the tax will kick in only on contributions above Rs 2.5 lakh a year and will apply only to contributions by the employee, many Provident Fund subscribers are upset.
 How does the Budget affect your money Taxes, housing, and income
By Andrew F Thomas
Expectations from Union Budget 2021 were high. Given the hardships that people have endured over the past year, it was expected that there would be relief in some form or the other for the middle-class. At the same time, given the fact that the government has suffered loss of revenue due to the pandemic, it was also feared that the FM could ill-afford to loosen the purse strings. Read on to know how your money life has changed.
 Haven t got income tax refund as yet? You may need to confirm it to the tax dept
By Jude Marg
Your income tax refund may be held up pending your confirmation about its accuracy if there was a significant difference in incomes or deductions that you claimed while filing your ITR compared to your Form 16 or 16A. In this case, for refund to be credited into your bank account you may have to respond to the email sent by IT department, asking you to confirm your refund claim.
 Income tax impact of switching in mutual funds explained in 5 points
By Raul N Tiem
The mutual fund industry has sought uniformity in the tax treatment for switch transaction in respect ULIPs and mutual fund products
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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
 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,
 What are Form 15G, Form 15H?
By Thomas T. Rucks
Form 15G is for resident Indians under the age of 60, HUF or trust. While Form 15H is for resident Indians aged 60 years or above.
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Professional Updates   RSS Feeds
 Further extension of the last date for Waiving-off Condonation Fees due to late filing of various application Forms related to Students, Articled Assistants, amidst COVID-19 Pandemic
By Henry Richards
Amid the current situation arising out of Covid-19, it is observed that some of the Students, Articled Assistants, are still facing difficulties in online filing of prescribed applications Forms for various activities.
 Further extension in the last date for Waiving-off Condonation fees due to late filing of various application Forms related to Students, Articled Assistants, amidst COVID-19 Pandemic
By Sandy Mash
Amid the current situation arising out of Covid-19, it is observed that some of the students, Articled Assistants, are still facing difficulties in online filing of prescribed applications Forms for various activities.
 Educational Material on Ind AS 105, Non-current Assets Held for Sale and Discontinued Operations
By Andrew F Thomas
Ind AS 105 prescribes the accounting treatment for non-current assets held for sale and, and the presentation and disclosure of discontinued operations. It sets out the criteria for classification of a non-current asset (or disposal groups) as held for sale and discontinued operations.
 Exposure Drafts of Amendments to Ind AS for comments
By Raul N Tiem
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.
 Educational Material on ICAI Valuation Standard- 301- Business Valuation as brought out by VSB ICAI and ICAI RVO
By Henry Richards
The views expressed in this book are of the author(s). The Institute of Chartered Accountants of India may not necessarily subscribe to the views expressed by the author(s).
 Important Announcement for May 2021 CA Examinations
By Moshe Pras
In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the next Chartered Accountants Intermediate (IPC) {Under Old Scheme}, Intermediate {Under New Scheme} and Final {Under Old & New Scheme} Examinations will be held on the dates given below at the following places provided that sufficient number of candidates offer themselves to appear from each centre.
 ICAI opens Registration for Online Home-Based Practical Training Assessment
By Sandy Mash
The Institute of Chartered Accountants of India (ICAI) opened up registration for Online Home-Based Practical Training Assessment.
More »
From the Courts   RSS Feeds
 M/s. M.L. Singhi & Associates (P) Ltd., Brahmaputra House, A-7, NH-8, Mahipalpur Crossing, Mahipalpur, New Delhi Vs. The Deputy Commissioner of Income Tax, Central Circle-17, New Delhi.
By Moshe Pras
Both the appeals by the Assessee are directed against the different Orders of the Ld. CIT(A)-35, New Delhi, Dated 27.03.2017, for the A.Ys. 2009-2010 and 2010-2011.
 Gurudwara Kalgidhar Singh Sabha, R.K. Puram, Sector-6, Delhi Vs. The Income Tax Officer (Exemptions), Ward-1(2), New Delhi.
By Moshe Pras
This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-40, Delhi, Dated 23.08.2019, for the A.Y. 2011-2012, challenging the Order of the Ld. CIT(A) in wrongly interpreting the provisions of Section 10(23C)(v) of the I.T. Act, 1961.
 Shri Bishan Sharup Gupta, New Delhi Vs. The Income Tax Officer, Ward 45 (4), New Delhi.
By Thomas T. Rucks
The A.O. has recorded reasons for reopening of the assessment, copy of which is filed at pages 1 to 4 of the PB and after taking administrative approval Dated 31.03.2017, issued notice under section 148 of the I.T. Act, 1961 on Dated 31.03.2017
 M/s Scan Holdings Pvt. Ltd., F-4, Shopping Complex, A Block, Meera Bagh, West Delhi Vs. ACIT, Circle-22(2), New Delhi
By Thomas T. Rucks
The present appeal has been filed by the assessee against the order of the ld. CIT(A)-8 , New Delhi
 Shri Kunwar Tuli, 41A, A-1A, Chanakya Place, Uttam Nagar, Vs. ITO, Ward-43(4), New Delhi
 M/s. G4S Secure Solutions (India) Pvt. Ltd., C-16, Community Centre, Janakpuri, Behind Janak Cinema, New Delhi Vs. Addl. CIT, Special Range-4, New Delhi
By Andrew F Thomas
These three appeals by the assessee are directed against the separate orders of learned Commissioner of Income Tax (Appeals)- 16, New Delhi, each dated 27.02.2017, passed for assessment years 2003-04, 2004-05 and 2005-06 respectively.
 Sh. Madhu Sudan Yadav, C/o Yadav Book Depot. Moti Chowk, Rewari, (Haryana) Vs. Income Tax Officer, Ward-1, Rewari.
By Orion M.
Section 4 of The Direct Tax Vivad se Vishwas Act, 2020 has been filed by the assessee.
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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
 Reserve Bank of India imposes monetary penalty on Bank of Maharashtra
By Sandy Mash
The Reserve Bank of India (RBI) has imposed, by an order dated February 25, 2021, a monetary penalty of ₹2 crore on Bank of Maharashtra (the bank) for contravention of / non-compliance with certain provisions of the directions contained in Reserve Bank of India (Frauds classification
  Report on Currency and Finance (RCF) for the year 2020-21
By Andrew F Thomas
Today, the Report on Currency and Finance (RCF) for the year 2020-21 was released by the RBI. First published in 1937, the RCF adopted a theme-based approach from 1998-99. After a hiatus between 2014 and 2019, the Report has been revived with this release.
 Creating New Opportunities for Growth (Shri Shaktikanta Das, Governor, Reserve Bank of India - February 25, 2021 at the Bombay Chamber of Commerce and Industry)
 Investment by Foreign Portfolio Investors (FPI) in Defaulted Bonds - Relaxations
By Andrew F Thomas
Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to Foreign Exchange Management (Debt Instruments) Regulations, 2019 notified
 Report on Currency and Finance (RCF) for the year 2020-21
By Raul N Tiem
Today, the Report on Currency and Finance (RCF) for the year 2020-21 was released by the RBI. First published in 1937, the RCF adopted a theme-based approach from 1998-99. After a hiatus between 2014 and 2019, the Report has been revived with this release.
 Implementation of Section 51A of UAPA, 1967: Updates to UNSC s 1267/ 1989 ISIL (Da esh) & Al-Qaida Sanctions List Amendment of 92 entries
  RBI Announces Special Open Market Operations (OMO) Simultaneous Purchase and Sale of Government of India Securities
By Andrew F Thomas
On a review of current liquidity and financial conditions, the Reserve Bank has decided to conduct simultaneous purchase and sale of Government securities under Open Market Operations (OMO) for an aggregate amount of ₹15,000 crore each on March 04, 2021.
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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
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ITAT-Constitution of Benches   RSS Feeds
 Input Service Tax Credit is deductible u/s.37(1) when such Input Tax Credit is written off in Books of Accounts: ITAT
By Jude Marg
The Income Tax Appellate Tribunal (ITAT) Chennai this week held that input tax credit is deductible under section 37(1) of the Act Income Tax Act, 1961, when such input tax credit is reversed or written off in the books of account.
 ITAT allows Deduction u/s 35(1)(ii) on Account of Donation
By Moshe Pras
The Income Tax Appellate Tribunal (ITAT), Pune Bench allowed the deduction under Section 35(1)(ii) of the Income Tax Act on account of donation.
 ITAT can t dismiss application merely on the basis of seeking frequent adjournments: Delhi High Court
By Henry Richards
The Delhi High Court held that the ITAT can not dismiss an application merely on the basis of seeking frequent adjournments.
 Society registered outside India not eligible for Income Tax Exemption: ITAT
By Raul N Tiem
The Income Tax Appellate Tribunal (ITAT), Calcutta Bench held that the society registered outside India is not eligible for Income Tax Exemption.
 ITAT stays recovery of outstanding Tax Arrears to the tune of Rs.1260.56 Crores against Google India
By Orion M.
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench stayed the recovery of outstanding tax arrears to the tune of Rs.1260.56 Crores against Google India.
 ITAT confirms disallowance of Advertisement Expenses relating to Construction of Swimming Pool Setback to Himalaya
By Moshe Pras
The Income Tax Appellate Tribunal (ITAT), bangalore confirmed the disallowance of advertisement expenses relating to the construction of the swimming pool.
 ITAT grants relief to Atos India Assessment framed for Non-Existent Authority is null & Void
By Thomas T. Rucks
The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the assessment framed for Non-Existent Authority is Void ab initio.The assessee, Atos India Pvt. Ltd. had raised various grounds on merits of various additions/disallowances made by the AO pursuant to DRP directions the counsel for the assessee emphasizes that the assessee had raised an additional ground to vide petition stating that the assessment has been framed on a non-existing entity and accordingly is void ab initio.
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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
 25 LPA Opening Chartered Accountant required in Uganda
By Andrew F Thomas
Experince: 4 - 9 years, Salary: 22,50,000 - 25,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit, PG : CA
 18.5 LPA Opening Vice President (Chartered Accountant)
By Orion M.
Experince: 12 - 18 years, Salary: 8,50,000 - 18,50,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 25 LPA Opening Indirect Tax Head
By Moshe Pras
Experince: 5 - 10 years, Salary: 20,00,000 - 25,00,000 P.A. (Including Variable: 20%), Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 20 LPA Opening Chartered Accountant- AGM/ DGM Finance & Accounts
By Thomas T. Rucks
Experince: 12 - 20 years, Salary: 12,00,000 - 20,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 25 LPA Opening Dy. Manager /Manager Finance
By Orion M.
Experince: 10 - 15 years, Salary: 20,00,000 - 25,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 15 LPA Opening CA Assistant Manager-Audit Technical Role (Non client facing role)
By Jude Marg
Experince: 2 - 7 years, Salary: 10,00,000 - 15,00,000 P.A.,Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 Central Institute Of Plastics Engineering & Technology, Raipur, Chhattisgarh
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Markets   RSS Feeds
 Market Top Losers 1/03/2021
By Moshe Pras
Market Top Losers 1/03/2021
 Market Top Gainers 1/03/2021
By Thomas T. Rucks
Market Top Gainers 1/03/2021
 Top Ranked Mutual Funds 1/03/2021
By M. George
Top Ranked Mutual Funds 1/03/2021
 Market Top Losers 25/02/2021
By Raul N Tiem
Market Top Losers 25/02/2021
 Market Top Gainers 25/02/2021
By Henry Richards
Market Top Gainers 25/02/2021
 Top Ranked Mutual Funds 25/02/2021
By Moshe Pras
Top Ranked Mutual Funds 25/02/2021
 Market Top Losers 19/02/2021
By Jude Marg
Market Top Losers 19/02/2021
More »
Direct Tax   RSS Feeds
 ITR not processed yet? Make sure you check and resolve your Tax Credit mismatch, urges Income Tax Dept
By Jude Marg
The Income Tax Department has urged that if your ITR is not processed yet then in that case make sure you check and resolve your Tax Credit mismatch.
 The PF will be taxable at your marginal rate of tax
By Thomas T. Rucks
The period of service is an important factor. If you have completed a continuous period of service for five years and more, then the maturity proceeds received are tax-free in your hands. Also, what is important is the period of holding, i.e., the corpus standing at the end of your retirement date is the tax-free corpus. The interest earned on the corpus post no active contribution is taxable in your hands as per your marginal rate of tax.
 ITR Filing Deadline: Here's how much fine you will have to pay for missing tax return due date
By M. George
ITR Filing Deadline: The penalty of filing late ITR will be decided on the earning of the individual and also on the window in which the returns have been filed.
 Missed ITR verification deadline? Check how to file condonation of delay request after 120 days
By Sandy Mash
Did you miss the 120-day ITR verification deadline? See how a condonation request can help you save the trouble of filing ITR all over again.
 Directions under Section 35 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) Deccan Urban Co-operative Bank Ltd., Vijayapur
By Henry Richards
It is hereby notified for information of the public that in exercise of powers vested in it under sub section (1) of Section 35 A of the Banking Regulation Act, 1949 read with Section 56 of the Banking Regulation Act, 1949, the Reserve Bank of India (RBI) vide Directive Ref. No. DoS.CO.UCBs.South/Dir.1/1849/10.01.023./2020-21 dated February 18, 2021 has issued certain Directions to Deccan Urban Co-operative Bank Ltd.
 How to save Income Tax? Top tips, options Home loan, education loan, NPS, APY, 80CCD, 80C, house rent and more
By Moshe Pras
How to save Income Tax: All of us want to save money as much as we can, provided it is legally correct.
 Failed to submit investment proofs? You can still save taxes ITR filing
By Orion M.
If you have no plans to make tax-saving investments, you may opt for the new tax regime. From FY21 onwards, taxpayers have two options
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Tenders   RSS Feeds
 District Health & Family welfare Society, Ambala, Haryana
By Raul N Tiem
District Health & Family welfare Society(DH&FWS),Ambala seeks to invite Proposal from Chartered Accountant(CA) Firms and Cost and Management Accountant(CMA) Firms meeting the minimum eligibility criteria for conducting the Concurrent audit of District Health & Family Welfare Society, Ambala under the National Health Mission for the financial year 2020-21.
 The West Bengal Forest Development Corporation Limited, Kolkata, West Bengal
By Henry Richards
The West Bengal Forest Development Corporation Limited, a Company, incorporated, under the Companies Act, 1956, intends to appoint Internal Auditor for conducting Internal Audit of the accounts of this Corporation (Head Office, Green Project Wing & South Bengal Divisions), including Designated Divisions (DDIV) & Ranges and Designated Ranges
 District Rural Health Society, Ranchi, Jharkhand
By Moshe Pras
The West Bengal Forest Development Corporation Limited, a Company, incorporated, under the Companies Act, 1956, intends to appoint Internal Auditor for conducting Internal Audit of the accounts of this Corporation (Head Office, Green Project Wing & South Bengal Divisions), including Designated Divisions (DDIV) & Ranges and Designated Ranges (DRNs)
 Information And Library Network Centre, Gandhinagar, Gujarat
By Thomas T. Rucks
The Information and Library Network (INFLIBNET) Centre, an autonomous Inter University Centre (IUC) of the University Grants Commission, Ministry of Education, Govt. of India, invites sealed quotations on behalf of Director, INFLIBNET Centre consisting of two-bid tender (Technical and Commercial) from eligible Service provider/firm/agencies for Hiring of Chartered Accountancy Firm for Statutory Audit, Attesting and Related Services for the Financial Year 2021-22 at INFLIBNET, Gandhinagar, Gujarat.
 Corrigendum Uttarakhand Power Corporation Ltd., Dehradun, Uttarakhand
By Sandy Mash
TENDER DOCUMENT FOR PART-A- RECONCILIATION OF ACCOUNTS OF UNITS UNDER 12 NOS. ELECTRICITY DISTRIBUTION CIRCLES OF UPCL & 3 NOS. OTHER CIRCLES (1 PROJECT CIRCLE,
 The Cotton Corporation of India Ltd., Vidya Nagar, Maharastra
By Andrew F Thomas
The Cotton Corporation of India Ltd. invites sealed tenders in two bid system from Chartered Accountants firms for the Appointment as internal auditors of branch
 The Cotton Corporation of India Ltd, sirsa, Haryana
By Thomas T. Rucks
The bidder entity/ any partner/ Director of the entity should not have been convicted in any disciplinary proceedings/criminal case by regulatory authority/court in connection with professional work. Bidder should not be in black list of any PSU or Govt. Department. Bidder to submit an undertaking in this respect as per relevant form.
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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
 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
 Notification No. 90/2019 Central Board of Indirect Taxes and Customs
By Henry Richards
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
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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
 ROC Forms
 ROC Circulars
 ROC Notifications
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