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 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.
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| | 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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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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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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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.
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| 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.
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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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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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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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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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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
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| 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 | | More » |
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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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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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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 |
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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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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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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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