Tally for CAs in Industry Silver Edition (Single User) Tally Renewal (Auditor Edition) Need Tally for Clients? (Tie-up with us!!!)
Open DEMAT Account with in 24 Hrs and start investing now!
Top Headlines   RSS Feeds
 How to file income tax return on the new e-filing portal and its key features
By Orion M.
The new income tax e-filing portal provides a refreshing feel and has provided a wider bouquet of services under one umbrella. The government has launched the new income tax portal as a part of its digitization journey and with a view to facilitate ease of compliance for taxpayers.
 Notification No. 73/2021 Central Board Of Direct Taxes
By Thomas T. Rucks
In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct, Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017,
 Here's how you can download Form 26AS New income tax website
 Five tips to help NRIs optimise tax savings while living and earning abroad
By Sandy Mash
As a non-resident Indian, you may have the dubious honour of paying tax twice. If you live and earn abroad, your foreign income will be taxed in your host country. But if you still have investments, assets, or business transactions in India that earn you money, you will have to pay tax on the Indian income in India. It only makes sense that you want to make the most of any tax deductions and provisions available to you.
 Income-tax (17th Amendment) Rules, 2021
By Orion M.
In exercise of the powers conferred by sections 194,194A,194Q, 196D, 206AB and 206CCAread 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, namely
 5 sources beyond PF, PPF, NPS that are tax exempted Income tax
By Thomas T. Rucks
Paying income tax is necessary for those earning individuals whose annual income is more than ₹2.5 lakh. However, while income tax return (ITR) filing, the taxpayer is advised to use income tax calculator properly as there are some sources of income other than Provident Fund (PF), Employees Provident Fund (EPF), Public Provident Fund (PPF) or National Pension System (NPS) that are income tax exempted.
 All you need to know about the new tax filing system
By M. George
The old income tax portal, incometaxindiaefiling.gov.in, was shut for users from 1 to 6 June as the government worked on launching its new income tax filing portal, incometax.gov.in. The new portal was slated to go live on 7 June. Mint explains the changes:
More »
Continuing Prof. Edu.   RSS Feeds
 Virtual CPE Meeting on 360 degree Audit of Income Tax, GST & Company Audit.
 VCM on Recent developments under GST including issues relating to ITC mismatch and fake invoicing
 Webinar on Resolution to Queries raised during the webinar held with respect to Section 44AB- Form No. 3CA/ 3CB(Unstructured CPE Hrs)
 Professional Opportunities for Young Chartered Accountants
 TDS and TCS Provision in Income Tax with specific reference to TDS on Purchase of Goods u/s 194Q Interplay with TCS on Collection from Sales u/s 206C
 Taxation of Partnership: Deciphering and critical analysis of New Sec 9B and amended Sec 45(4) as passed in Finance Act, 2021
 Discussion on DPT 3, Relaxation by MCA and Important Recent Amendment in Companies Act.
More »
GST - Goods and Services Tax   RSS Feeds
  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
 Why the distortions built into GST are coming undone
By Jude Marg
Had there been a proportional representation of voting in the GST council either as a proportion of the size of a state or by its contribution to the GST revenue pool, Covid products would have been tax free by now.
 GST Amnesty Scheme and Benefits
 GST committee recommends against lowering tax rate on vaccines
By Andrew F Thomas
The fitment committee of the GST Council, a key panel of Centre and state officials which looks into tax rate changes, has recommended against lowering the tax rate on vaccines from the present 5%.
More »
General   RSS Feeds
 Why you need to re-register Digital Signature Certificate on new I-T portal Income Tax
By Moshe Pras
The income tax (I-T) department has informed taxpayers to re-register their digital signature certificate (DSC) once again on the newly launched I-T website.
 Payout from EPFO insurance scheme is tax free: Check details here
By Orion M.
The minimum death benefit under the scheme has been fixed at Rs 2.5 lakh, with effect from February 15, 2020. A bonus is also available under the scheme. The maximum is Rs 1.75 lakh
 Tax payment through cheques? No more!
By Andrew F Thomas
After several cheques were dishonored, the Municipal Corporation has decided not to accept payment of property tax through cheques.
 Things to know when selling your house Capital gains tax
 Thinking of withdrawing EPF funds due to Covid? Know about tax implications
By Sandy Mash
If you are thinking of withdrawing funds from your EPF account then it is important to know the tax implications of same
 Withdrawing PF money due to covid? Know these tax rules
By Orion M.
The government had last year allowed employees to withdraw from their provident fund account in case they needed emergency funds due to financial stress caused by the covid-19 pandemic.
 How income tax is levied on your stock market transactions
By Orion M.
While filing one's Income Tax Return (ITR) one needs to mention all its sources of income including stock market investments. According to tax and investment experts, there are two set of income tax forms for stock market investors. If a taxpayer has investments in cash segment, then he or she will have to file ITR-2 Form while for a derivative segment investor or aggressive intraday traders, ITR-3 Form will be the ideal one.
More »
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.
More »
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
More »
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.
More »
Professional Updates   RSS Feeds
 Information System Audit Assessment Test (ISA AT), July 2021
By Thomas T. Rucks
Members are hereby informed that the next Information Systems Audit (ISA) Course Assessment Test (Old as well as New Syllabus) which is open to the members of the Institute will be held on 31st July 2021 (Saturday) from 9.00 AM to 1.00 PM (IST) at the following cities provided that sufficient number of candidates offers themselves to appear there from.
 Announcement regarding amendment in Investor Education and Protection Fund Authority (Accounting, Audit, Transfer, and Refund) Rules, 2016 by CL&CGC ICAI
By M. George
This is to inform you that the Ministry of Corporate Affairs vide its notification dated 09th June 2021 has amended the provisions of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 to introduce the manner of transfer of shares under section 90(9) of the Companies Act 2013 to the Investor Education and Protection Fund.
 Postponement of Special Examination for Members of Institutions with whom ICAI had entered into Mutual Recognition Agreement (MRAs) / Memorandum of Understanding (MOUs), June 2021
By Raul N Tiem
It is hereby announced for general information that in view of the ongoing spurt of the COVID- 19 pandemic and in the interest of the well-being of students, the Chartered Accountant - Special Examinations Under MRA / MOU scheduled to be held from June 26th to 29th 2021 stand rescheduled and the said examinations shall now be held from August 24th to 27th, 2021 as per details given below:
 Guidelines for Examination Centres, Examination functionaries and Candidates for July 2021 CA Examinations in wake of ongoing pandemic Novel Corona Virus (Covid-19)
By Andrew F Thomas
ICAI is taking all possible measures for safe and secure conduct of CA Examinations scheduled to be held in July 2021. ICAI has already increased the examinations to cover additional 192 districts of the country to facilitate candidates to not to travel beyond their district to the extent possible. ICAI will also implement adequate Social Distancing measures in current scenario of Covid-19 to ensure health and safety of our candidates. Adequate measures are being taken for the safety of all without compromising the high standards, sanctity and fairness in the conduct of the examination.
 Advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) - Adv. Information Technology Test on 30th June 2021
By Thomas T. Rucks
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 particular city / centre is not adequate or the centre cannot be opened due to lockdown restrictions..
 One-time Golden Opportunity for CA Final Exam passed students Complete virtual MCS/Adv. ITT any-time any-where and become a member of ICAI
By M. George
In view of the Covid pandemic, the Competent Authority had decided to provide a once in a lifetime opportunity to students who have qualified CA final exam but unable to apply for Membership of the Institute due to non completion of MCS/Adv. ITT Course. They can now undergo the MCS/Adv.
 Important Announcement - Schedule of Foundation Examination (June/July 2021)
By Andrew F Thomas
In continuation to Announcement dated 5.6.2021, students may note the revised schedule of Chartered Accountant Foundation Examinations commencing from 24th July 2021 as per details given below.
More »
From the Courts   RSS Feeds
 Sun Media Pvt. Ltd. 5-E, Local Shopping Centre, Masjid Moth, Greater Kailash-II, New Delhi Vs. ITO Ward-24 (3) New Delhi
By Raul N Tiem
That the learned CIT (A) has erred both on facts and in law in upholding the order of assessment. He has further erred in holding the loss suffered by the assessee of Rs.2,20,43,350/- cannot be held either as long term capital loss or even business loss.
 Shri Karan Singh, Village : Khoh, Distt. Gurgaon, Haryana Vs. Income Tax Officer, Ward : 2 (3), Gurgaon.
By Henry Richards
When the matter is called up for hearing the ld AR of the assessee submitted a letter dated 17.06.2021 wherein, it is submitted that assessee has already opted for settlement of the dispute involved in this appeal under The Direct Taxes Vivaad Se Vishwas Act, 2020 by filing Form Nos. 1 and 2. ITA. No.863/Del/2020.
 M/s. Bhai Hospital Trust, 54, Janpath, Connaught Place, New Delhi Vs. DIT(Exemption), Plot No.15, 3rd Floor, Aayakar Bhawan, Laxmi Nagar, District Centre, New Delhi
By Henry Richards
That on facts and in law, the Order dated 19th July, 2011 passed by the Director of Income Tax (Exemptions), New Delhi (Ld.DIT) cancelling the registration u/s 12A of the Act of the appellant trust, since inception, is bad and without properly considering and appreciating the facts and legal position and is also contrary to the position consistently accepted by the department over a long period of more than 25 years.
 Modern Papers, B-95, Wazirpur Industrial Area, Delhi. Vs. Income-tax Officer Ward 34(3), New Delhi
By Moshe Pras
Brief facts of the case are that the assessee is engaged in the business of Agro Chemicals and set up a manufacturing unit in the State of Jammu & Kashmir, which is notified area, entitling the assessee all the benefits of Excise Duty Refund in accordance with the Excise Notification
 ACIT, Central Circle -4, New Delhi. Vs. JKG Construction Pvt. Ltd. B-174, Yojna Vihar, Delhi
 Jet Lite (India) Ltd, Jet Air House, 13, Community Centre, Yusuf Sarai, New Delhi Vs. DCIT, Central Circle-6, New Delhi
By Henry Richards
At the time of hearing, it has come to our notice that the above company has been referred for Insolvency & Bankruptcy Act, 2016 for resolution of insolvency in CPIB No. 3109 of 2019. As such this appeal has been filed by the Director of the company whereas as now insolvency resolution professional has been appointed, the Board of the Director of the company does not have any locus standito file this appeal. It is now required to be filed by IRP under instructions of COC.
 Late Shri Bhushan Lal Sawhney, through his L.R / Wife Smt. Sneh Lata Sawhney, 6, Link Road, Jangpura Extension, New Delhi Vs. The DCIT, Central Circle-7, New Delhi.
By Sandy Mash
All the above appeals are directed against the different Orders of the Ld. CIT(A)-25, New Delhi, Dated 25.10.2017, for the A.Ys. 2006-2007 to 2011-2012 on quantum assessments and Orders Dated 26.10.2016
More »
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
More »
Latest Circulars   RSS Feeds
 Implementation of Section 51A of UAPA, 1967: Updates to UNSCs 1267/ 1989 ISIL (Daesh) & Al-Qaida Sanctions List: Amendment of one entry
 Minutes of the Monetary Policy Committee Meeting, June 2 to 4, 2021
 RBI grants In-principle approval to Centrum Financial Services Limited to set up a Small Finance Bank
 Liberalised Remittance Scheme for Resident Individuals Reporting
By Jude Marg
Attention of all Authorised Dealer Category - I (AD Category - I) banks is invited to A. P. (DIR Series) Circular No. 106 dated May 23, 2013, in terms of which, AD Category -I banks were required to upload the data in respect of number of applications received and the total amount remitted under the Liberalised Remittance Scheme (the Scheme) on Online Return Filing System (ORFS).
 Directions under Section 35 A of the Banking Regulation Act, 1949 (As Applicable to Co-operative Societies) Sikar Urban Co-operative Bank Ltd, Sikar, Rajasthan- Extension of validity
By Henry Richards
Sikar Urban Co-operative Bank Ltd., Sikar, Rajasthan was placed under All-Inclusive Directions from close of business on November 09, 2018 for a period of six months subject to review, vide Directive dated October 26, 2018. The validity of the directions was last extended vide Directive dated March 09, 2021 for three months up to June 09, 2021, subject to review.
  Usage of Automated Teller Machines / Cash Recycler Machines Review of Interchange Fee and Customer Charges
 RBI announces Third Tranche of Open Market Purchase of Government of India Securities and State Development Loans under G-sec Acquisition Programme (G-SAP 1.0)
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
 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.
 Addition for Unexplained Cash Credit justified in respect of Unexplained Creditors shown as Bogus: ITAT
By Henry Richards
The Income Tax Appellate Tribunal (ITAT), Allahabad Bench ruled that the addition for unexplained cash credit is justified in respect of unexplained creditors shown as bogus.
More »
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.
More »
Placements & Empanelment   RSS Feeds
 40 LPA Opening Qualified CA Financial Controller Noida MNC
By Raul N Tiem
Experince: 12 to 16 year(s) of Experience,Salary: 30,00,000 - 40,00,000 P.A.,Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 65 LPA Opening Chief Financial Officer
By Sandy Mash
Experince: 20 - 22 years, salary: 60,00,000 - 65,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 60 LPA Opening Associate Vice President Finance
By Andrew F Thomas
Experince: 15 - 23 years, Salary: 50,00,000 - 60,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 90 LPA Opening Director Business Finance
By Jude Marg
Experince: 10 - 16 years, salary: 70,00,000 - 90,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 40 LPA Opening Chief Financial Officer (CFO) / Head Finance & Accounts
By Raul N Tiem
Experince: 15 - 24 years, Salary: 25,00,000 - 40,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 80 LPA Opening Head Of Finance
By M. George
Experince: 15 - 20 years, Salary: 50,00,000 - 80,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
 30 LPA Opening DGM / AGM - Plant Account & Finance
By Sandy Mash
Experince: 12 - 22 years, Salary: 18,00,000 - 30,00,000 P.A., Functional Area: Accounts, Finance, Tax, Company Secretary, Audit
More »
Markets   RSS Feeds
 Market Top Losers 16/6/2021
By Moshe Pras
Market Top Losers 16/6/2021
 Market Top Gainers 16/6/2021
By Thomas T. Rucks
Market Top Gainers 16/6/2021
 Top Ranked Mutual Funds 16/6/2021
By M. George
Top Ranked Mutual Funds 16/6/2021
 Market Top Losers 14/6/2021
By Sandy Mash
Market Top Losers 14/6/2021
 Market Top Gainers 14/6/2021
By Andrew F Thomas
Market Top Gainers 14/6/2021
 Top Ranked Mutual Funds 14/6/2021
By Orion M.
Top Ranked Mutual Funds 14/6/2021
 Market Top Losers 10/6/2021
By Orion M.
Market Top Losers 10/6/2021
More »
Direct Tax   RSS Feeds
 Can you get tax benefits on selling a house that is not registered?
By Orion M.
Sometimes, buyers don't do the registration of their houses. The reasons vary: to save costs associated with stamp duty and registration; some keep postponing it once they start living in the house. There are rare cases where the developer doesn't cooperate, delaying the process.
 Know how to file ITR using the new tax filing portal
By Moshe Pras
In order to ease the tax filing process and tasks, the income tax department has launched a new web portal which is more interactive and user friendly. As per a circular issued by the tax department the new portal will help in faster processing and quicker refunds.
 Notification No. 72/2021 Central Board Of Direct Taxes
 Things to check in Form 26AS before filing ITR
By Andrew F Thomas
We explain what is form 26AS and how one should use it while filing ITR.It is important to look at Form 26AS also known as an annual consolidated statement when filing an income tax return (ITR).
 CBDT issues Guidelines for Compulsory Selection of Income Tax Returns for Complete Scrutiny during the FY 2021-22
By M. George
The Central Board of Direct Taxes (CBDT) on Thursday issued the Guidelines for compulsory selection of returns for Complete scrutiny during the Financial Year 2021-22.
 New ITR e-filing portal to be launched today. Check out these 6 new features
By Orion M.
The Income Tax Department is going to launch its new e-filing portal today (7th June 2021). This new portal will also have an all-new mobile app. Information regarding pre-filed income tax details, ITR Form and Saral Income Tax facilities will be made available on the new e-filing portal.
 Not filing Income Tax Return? You may have to pay double TDS from next month Here s why
By Sandy Mash
New Tax Deducted At Source (TDS), TCS Rates for Non-filers from July 1: Higher TDS/TCS rate would be applicable for Income Tax Return (ITR) non-filers from July 1
More »
Tenders   RSS Feeds
 Karnataka State Urban Livelihoods Mission Society, Bangalore, Karnataka
By Moshe Pras
Method of selection is fixed Budget Selection. The fee structure for the assignment is as follows. Only those firms who are willing to accept the fee structure offered need submit the proposal. The period of assignment for the audit is 2019-20 & 2020-21.
 Security Printing & Minting Corporation of India Limited, Saifabad, Hyderabad
By Thomas T. Rucks
Tenderers shall ensure that their tenders, duly sealed and signed, complete in all respects as per instructions contained in the Tender Documents, are dropped in the tender box located at the address given below on or before the closing date and time indicated in the Para 1 above, failing which the tenders will be treated as late and rejected.
 Agricultural And Processed Food Products Export Development Authority, New Delhi, Delhi
By Orion M.
Applications are invited from qualified Chartered Accountant firms registered with ICAI for at least 5 years for engagement as internal auditors for providing consultancy relating to financial matters for APEDA and Basmati Export Development Federation (BEDF) for a period of 3 (three) years.
 Punjab National Bank, New Delhi, Delhi
 Uttar Pradesh Health Systems Strengthening Project, Lucknow, Uttar Pradesh
 The Karnataka Food and Civil Supplies Corporation Limited, Bangalore, Karnataka
By Orion M.
Tender for Appointment of CA Firm to Undertake Internal Audit (Centralized Audit: (Top-Down Approach) of Karnataka Food & Civil Supplies Corporation Limited and its subordinate offices for the Financial Year 2021-2022
 Corrigendum Housing And Urban Development Corporation Limited, New Delhi, Delhi
By Raul N Tiem
The last date of submission of bids is hereby further extended to 1500 Hours of 10th June, 2021 (from 1500 Hours of 4th June, 2021) due to Covid-19 pandemic and extension of lockdown in Delhi.
More »
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.
More »
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
More »
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.
More »
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.
More »
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);
More »
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
More »
Help   RSS Feeds
 Query
 Suggestions
 Information
 Results
More »
Home | About Us | Terms and Conditions | Contact Us
Copyright 2021 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting