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Top Headlines   RSS Feeds
 Notification No. 82/2021 Central Board Of Direct Taxes
By Henry Richards
In exercise of the powers conferred by section 139 and section 148 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 Rules, 1962, namely
 All you need to know about filing Income Tax Returns
 10 important things individual taxpayers must know before filing ITR Income Tax Return filing
By Moshe Pras
Here are a few important things which individual taxpayers should know before filing their income tax return for AY 2021-22
 Tax filing deadline extended. That doesn t mean relief from interest penalties
By Thomas T. Rucks
To provide relief to the taxpayers amid the covid-19 pandemic, the government has extended till 30 September the deadline for filing income tax returns (ITR) for FY20-21.
 5 key things to remember while filing income tax return for FY21
By Jude Marg
Once business owners choose their tax regime, it can not be changed every year. However, salaried individuals with income from salary, house property and other income can change it every year
 10 smart ways to save income tax for salaried employees Tax saving guide
By Henry Richards
We are going to tell you about some tax deductions, which you can claim on your investments, earnings and other types of payments.
 4 Best Tax Saving Fixed Deposits To Invest In 2021
By Orion M.
Starting an investment in the debt category has always been a secure and wise move to welcome a decent and risk-free return in your portfolio. All debt investments have their own set of returns and tax benefits as well based on your chosen scheme and period of deposit. And when it comes to claiming tax benefits on investments, investing in a fixed deposit scheme under the debt category is always widely favored by all types of investors not only to generate secure and guaranteed returns but also to enjoy tax benefits under section 80C.
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Continuing Prof. Edu.   RSS Feeds
 Virtual CPE meeting on 360 Analysis of E-Way Bill under GST
 Leading by Example and Impact of Sections 9B & 45(4) of the Income Tax Act in connection with dissolution and reconstitution of firm
 VCM on Provision of Section 68 & Section 69 under Income Tax Act
 How to Read and Analyse Judgements Under Income Tax and GST with Practical Case Study
 Virtual CPE Meeting Issues in Taxation of Real Estate Transaction vis a vis Sec 50C, Sec 43CA, Sec 56(2)(x)
 Recent Amendments in TDS / TCS Covering Interplay Between Section 194Q & 206C (1H) and Impact of Section 206AB & 206CCA
 Commonly Found Non Compliances / Errors Form 3CA / 3CB /3CD Tax Audit Report u/s 44AB of the Income Tax Act,1961
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GST - Goods and Services Tax   RSS Feeds
 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.
 GST officials unearth tax evasion instances through radio frequency data
By Thomas T. Rucks
The Goods and Services Tax (GST) department has begun to identify instances of tax evasion and frauds identifying mismatches between E-way bills and the radio frequency tags used to cross toll plazas, Mint reported.
  All you need to know about Auto-Drafted GSTR-2B GST
By Jude Marg
On the GST Portal, Form GSTR-2B is an auto-drafted ITC statement that will be displayed for every registered person on the basis of the information furnished by his suppliers in their respective GSTR-1, GSTR-5 (non-resident taxable person), and GSTR-6 (input service distributor). It is a static statement and will be made available for each month, on the 12th day of the succeeding month meaning no change will be made thereafter in GSTR-2B, unlike GSTR-2A which was dynamic.
 Recent GST clarifications and their impact: Tax relief in milling, pharma, education, food sectors
By Jude Marg
CBIC clarified that GST would not be levied on services provided by the Central or State Boards, including NBE, in the conduct of examinations for students including entrance exams
 E-way bills point to pickup in GST receipts in July
By Raul N Tiem
Data from GSTN, the company that processes tax returns, showed that the average e-way bills generated this month until June 13 stood at 1.61 million, 25% more than the daily average reported for May.
 E-way bills signal coming jump in GST collections
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General   RSS Feeds
 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.
  How much tax do you pay on debt investments?
By Sandy Mash
Any portfolio should have a balanced mix of asset classes. Diversification helps reduce the overall risk. For instance, equity investments tend to give higher returns than all other asset classes over the long run, but they are also riskier.
 Income-tax Act, 1961 in the case of M/s Patanjali Research Foundation Trust, Haridwar
By Thomas T. Rucks
In exercise of the powers conferred by clauses (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) read with rules 5C and 5D of the Income-tax Rules, 1962, the Central Government hereby approves M/s Patanjali Research Foundation Trust, Haridwar
 What will be the income tax benefit if I have taken two home loans for two seperate properties?
By Sandy Mash
I have an existing home loan for a property in Mumbai, in which my wife and I are co-borrowers. I took a loan of Rs 1 crore in 2016, of which Rs 30 lakh is outstanding. Now I have to move out of Mumbai. I am planning to buy a new home in the city I am moving to and need a home loan. If we buy this new place (co-owned by me and my wife), how will the income tax benefit work out?
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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
 Exposure Draft of Disclosures of Accounting Policies Amendments to Ind AS 1, Presentation of Financial Statements
By Sandy Mash
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. As a part of convergence with IFRS Standards, the Ind AS may be issued/revised corresponding to the IFRS Standards.
 ICAI International Sustainability Reporting Awards 2020-21 for Excellence in Sustainable Initiatives and Innovations organized by SRSB, ICAI (Last Date: November 15th,
By Sandy Mash
The 2030 Agenda for Sustainable Development Goals (SDGs) constitute a fitting framework which calls for attention towards the challenges leading to a sustainable future. Globally, there is a greater realisation that private sector mobilisation and engagement with various stakeholders, such as multi-lateral organizations, civil society organizations is important for much needed transformative changes pertaining to the global goals.
 Result of the Online Examination of the Certificate Course on Ind AS held on 27th June, 2021.
By Raul N Tiem
Result of the Online Examination of the Certificate Course on Ind AS held on 27th June 2021. Certificate of passing candidates shall be available for download from within the DLH portal within one week of declaration of result. Members may log in using their respective SSP credentials and download their Certificate.
 Further extensions regarding the validity of Peer Review Certificate in the wake of COVID -19 spurt across the country
By Henry Richards
In view of the fact that the pandemic is still continuing and several parts of the country are under partial lockdown and considering the requests received in this regard, the Board has decided to grant relief to the practice units by extending the expiry date of peer review certificate having original expiry date falling anytime from 1st July 2021 to 31st July 2021 till 31st August 2021 i.e. cases where no extension benefit has been availed as per any of the earlier announcements of the Board.
 Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) - Adv. Information Technology Test
By M. 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, in case the number of candidates who opt for appearing in that city / centre is not adequate or the centre cannot be opened due to lockdown restrictions.
 Publication: Handbook on Personal Guarantors to Corporate Debtors under The Insolvency and Bankruptcy Code, 2016 by CIBC of ICAI
By Jude Marg
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).
 Guidance Note on Accounting for Derivative Contracts (Revised 2021)
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From the Courts   RSS Feeds
 Serco India Pvt. Ltd., C/o.Traveltime Car Rental P. Ltd., Office No.105, Astral Court, B Wing, Nr. Gaikwad Petrol Pump, Sanewadi, Aundh, Pune Vs. DCIT, Circle : 4 (1) Gurgaon.
 Durga Charitable Society Goodwill Building, G. T. Road, Mohan Nagar Ghaziabad Vs. JCIT Range-2 Ghaziabad
By M. George
Whereas Ld. Commissioner (Appeal) erred in law as also in facts and circumstances of the case to confirm the addition of Rs. 3,92,25,432/- made by the JCIT, Range-2 Ghaziabad by assessing hostel surplus as business income of the assessee, completely ignoring the fact that the assessee is an educational society providing education by running various educational institutes and hostel facility is provided to the students as per ACITE norms
 Jamaaluddin, S/O: Chunner Ahmed, Ward No. 7, Rafikabadcolony,DASNA, Gaziabad. Vs. ITO, Ward-1 (3) Gaziabad.
 M/s Shivam Securities Pvt. Ltd. Vs. DCIT, Circle-23(2), New Delhi
 Receivable Management Services India Pvt. Ltd., P-24, Green Park Extension, New Delhi. Vs. The DCIT, Circle 21 (1), New Delhi.
By Thomas T. Rucks
The Assessee has filed this cross objection against the appeal filed by the Revenue in ITA.No.5654/Del./2018.
 DCIT, Central Circle-31, New Delhi. Vs. M/s. Godhuli Vanijya Private Limited, 73 Cotton Street, Burra Bazar, Kolkata, West Bengal.
 ACIT,Central Circle 17 New Delhi. Vs. M/s. Spectrum Coal & Power Ltd 18, Rao Tula Ram Marg Vasant EnclaveNew Delhi
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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 imposes monetary penalty on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar, Maharashtra
By Moshe Pras
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar (the bank) for contravention of the directions issued by RBI on Board of Directors - UCBs.
 Reserve Bank of India announces Digital Payments Index (RBI-DPI) for March 2021
 RBI imposes monetary penalty on Alibag Co-operative Urban Bank Limited, Raigad, Maharashtra
 RBI imposes monetary penalty on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar, Maharashtra
By Raul N Tiem
The Reserve Bank of India (RBI) has imposed, by an order dated July 28, 2021, a monetary penalty of ₹1 lakh (Rupees One lakh only) on The Mahabaleshwar Urban Cooperative Bank Limited, Mahabaleshwar (the bank) for contravention of the directions issued
 RBI Auction of State Government Securities
By Raul N Tiem
The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on July 27, 2021 (Tuesday). The Government Stock up to 10% of the notified amount of the sale of each stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility.
 RBI launches the 13th round of Survey on Foreign Collaborations in Indian Industry
By Henry Richards
The Reserve Bank of India has been conducting the Survey on Foreign Collaborations in Indian Industry since 1965. The 13th round of survey with 2019-20 and 2020-21 as the reference period has now been launched.
 Launching of 30th Round of Quarterly Services and Infrastructure Outlook Survey (SIOS)Q2 2021 22
By Orion M.
The Reserve Bank has launched the 30th round of the quarterly Services and Infrastructure Outlook Survey (SIOS) for the reference period July-September 2021. The survey assesses the business situation for the current quarter (Q2:2021-22) from selected companies in the services and infrastructure sectors in India and their expectations for the ensuing quarter
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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
 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.
 Notice issued u/s 143(2) to be served upon the assessee within six months: ITAT
By Henry Richards
The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the notice issued under section 143(2) of the Income tax Act to be served upon the assessee within six months.
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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 Director- Direct taxation with reputed CA firm_ CA/ LLB
By Moshe Pras
Experince: 8 - 13 years Salary: 30,00,000 - 45,00,000 P.A.
 55 LPA Opening Accounts & Finance Manager
By Thomas T. Rucks
Experince: 6 - 10 years, Salary: 40,00,000 - 55,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 60 LPA Opening Manager Accounts & Taxation
By Orion M.
Experince: 8 - 12 years, Salary: 40,00,000 - 60,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 55 LPA Opening Assistant General Manager Finance
By Jude Marg
Experince: 8 - 12 years, Salary: 40,00,000 - 55,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 70 LPA Opening Hiring For Accounts & Finance Manager
By Sandy Mash
Experince: 10 - 15 years, Salary: 40,00,000 - 70,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
  50 LPA Opening Chief Financial Officer
By Andrew F Thomas
Experince: 8 - 11 years, Salary: 40,00,000 - 50,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 60 LPA Opening Senior Accounts Manager
By Raul N Tiem
Experince: 8 - 10 years, Salary: 45,00,000 - 60,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
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Markets   RSS Feeds
 Market Top Losers 29/07//2021
By Andrew F Thomas
Market Top Losers 29/07//2021
 Market Top Gainers 29/07/2021
By Orion M.
Market Top Gainers 29/07/2021
 Top Ranked Mutual Funds 29/07/2021
By Jude Marg
Top Ranked Mutual Funds 29/07/2021
 Market Top Losers 23/07//2021
By Raul N Tiem
Market Top Losers 23/07//2021
 Market Top Gainers 23/07/2021
By Henry Richards
Market Top Gainers 23/07/2021
 Top Ranked Mutual Funds 23/07/2021
By Moshe Pras
Top Ranked Mutual Funds 23/07/2021
 Market Top Losers 12/07//2021
By Thomas T. Rucks
Market Top Losers 12/07//2021
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Direct Tax   RSS Feeds
 Looking to file Income Tax Return? Check all the precautions while filing ITR
By M. George
The Finance Ministry had further extended the date of filing income tax returns for the Assessment Year 2021-22 by two months, i.e. postponed from July 31, 2021 to September 30, 2021.
 Direct Link, Latest Income Tax Exemptions Income Tax Return ITR Filing
By Sandy Mash
Income Tax Return ITR Filing: The Ministry of Finance has announced Income Tax Concession for payment towards the Covid treatment or death.
 Income Tax Return ITR Filing Last Date: Taxpayers Must Do THESE 6 Things By July 31
By Jude Marg
Income Tax Return ITR Filing Last Date: The Certificate of Tax Deducted at Source in Form Number 16, required to be furnished to the employee on or before July 31, 2021.
 How to save Income Tax if you are doing freelancing with a regular job
By Moshe Pras
In the present era, especially in the wake of first and second coronavirus waves, undertaking jobs on a freelance basis has become one of the most promising patterns of working/work culture.
  CBDT extends due date to file Form 15CA/15CB manually Income tax
By Jude Marg
The Central Board of Direct Taxes (CBDT) also said that a facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generation of the Document Identification Number.
 Segregating income in these 5 heads can simplify ITR filing Income tax calculator
 CBDT grants further relaxation in e-filing of Income Tax Forms to August 15
By Moshe Pras
The income tax department has granted further relaxation in the electronic filing of forms 15CA and 15CB in view of difficulties reported by taxpayers in the filing of forms online on the new e-filing portal http://incometax.gov.in.
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Tenders   RSS Feeds
 CSR2life, Multi-location, Multi State
By Orion M.
Empanelment of Chartered Accountant Firms for Independent Audit of Projects implemented with CSR Funds under Companies Act, 2013 CSR2life.com invites applications from Chartered Accountant firms across India for Independent Audit of Community Projects undertaken out of CSR Funds through the latform. CSR2life.
 Gujarat Ecology Commission, Gandhinagar, Gujarat
By Jude Marg
Gujarat Ecology Commission (herein after referred to as "GEC"), a Government of Gujarat undertaking invites sealed offer from Chartered Accountants 'Firm in two bid system for appointment as Pre cum Internal auditor of the organization. The details of eligibility criteria, earnest money deposit, experience, scope etc. are available in the tender documents.
 Maharashtra State Rural Livelihoods Mission, Navi Mumbai, Maharashtra
 Jammu And Kashmir Medical Supplies Corporation Limited, Srinagar, J&K
 Corrigendum of Omnibus Industrial Development Corporation Of Daman & Diu Ltd, Somnath, Daman
  New Delhi Municipal Council Smart City Limited, New Delhi, Delhi
By Orion M.
Though adequate care has been taken while preparing the RFP Document, the Bidders should satisfy themselves that the document is complete in all respects. Intimation of any discrepancy shall be given to this office immediately. If no intimation is received from any Bidder within seven days from the date of notification of RFP Document/ Issue of the RFP Document, it shall be considered that the RFP Document is complete in all respects.
 Institute Of Chartered Accountants Of India, Multi Location, Multi State
By Jude Marg
ICAI invites applications from eligible Chartered Accountant firms for engagement as Statutory Auditor of ICAI PF Trust for the financial year 2020-21.
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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
 ROC Forms
 ROC Circulars
 ROC Notifications
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