ITD searches resulted in admission of undisclosed income of Rs 45622 crore

25 March 2017 at 12:55

ITD conducted searches in about 2534 groups of persons led to admission of undisclosed income of about Rs. 45,622 crore apart from seizure of undisclosed assets (cash, jewellery etc) worth about Rs. 3,625 crore As part of enforcement measures and bas

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Posted in Income Tax |    0 comments |   173 hits


Releasing of GST Compensation to States

25 March 2017 at 12:55

Pending introduction of GST in the Country, Union Cabinet in its meeting held on 17.03.2015, decided for payment of 100% CST compensation to the States/UTs for year 2010-11, 75% CST compensation for year 2011-12 and 50% CST Compensation for year 2012

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Posted in GST 1 comments |   110 hits


Cabinet abolishes cesses and surcharges in Custom and Excise to facilitate GST implementation

23 March 2017 at 13:27

Cabinet approves Amendment of in the Customs and Excise Act, relating to abolition of cesses and surcharges on various goods and services to facilitate implementation of GST Regime Union Cabinet chaired by the Prime Minister Shri Narendra Modi has a

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Posted in GST |    0 comments |   414 hits


GST to help in reducing prices of various items

23 March 2017 at 12:05

FM: Government to focus on two important areas including building infrastructure on war footing and substantial expenditure on development of rural India; For FDI, India is most preferred destination in the world today; Major indirect tax reform in

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Posted in GST 1 comments |   317 hits


Payment of Wages by cheque or crediting to bank accounts

21 March 2017 at 10:59

The present wage limit for applicability of the provisions of the Payment of Wages Act, 1936 is Rs. 18,000/- per month. The Act has been amended by Payment of Wages (Amendment) Act, 2017 (effective from 28.12.2016) to enable the employers to pay wage

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Posted in Others 1 comments |   1578 hits


Union Cabinet chaired by the PM approves the 4 GST related bills today

20 March 2017 at 16:49

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi approves the four Goods and Services Tax (GST) related bills today The GST law will be the biggest reform in the area of Indirect Taxes in the history of independent India The Union C

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Posted in GST 2 comments |   4111 hits


4.21 crore income tax returns Efiled this year

20 March 2017 at 10:07

Number of e-filed Income Tax Returns in Financial Year 2016-17 (till 28.02.2017) was 4.21 Cr: The total amount of refund issued in the current fiscal (including refund arising out of rectification, appeal effect etc.) is Rs. 1,48,459 crore (till 28.0

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Posted in Income Tax |    0 comments |   432 hits


Govt to conduct trials with plastic banknotes

20 March 2017 at 10:07

Government to conduct field trial with plastic banknotes at five locations of the country; Approval for procurement of plastic substrate and printing of bank notes of Rs.10 denomination on plastic banknote substrates conveyed to RBI It has been deci

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Posted in Others |    0 comments |   343 hits


EPF members can withdraw upto 90 percent fund for purchase of house

17 March 2017 at 11:05

Government to Amend EPF Scheme, 1952 to Enable EPF Members to Withdraw upto 90 Percent Fund for Purchase of House The Government has taken a decision for modification in the Employees’ Provident Funds (EPF) Scheme, 1952 to add a new paragraph 6

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Posted in Others |    0 comments |   836 hits


ICSI president elected as Secretary of CSIA

17 March 2017 at 11:05

CS (Dr.) Shyam Agrawal, President The Institute of Company Secretaries of India (ICSI) has been elected as the Secretary of the Corporate Secretaries International Association (CSIA) during the Council Meeting of CSIA held on March 15-16, 2017 at Joh

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Posted in Professional Resource 1 comments |   263 hits


Cabinet approves increase in Dearness allowance by 2%

16 March 2017 at 12:24

Cabinet approves additional 2% Dearness Allowance / Dearness Relief due from January, 2017 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi has approved release of an additional instalment of Dearness Allowance (DA) to Central Gove

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Posted in Others |    0 comments |   353 hits


Invitation to contribute question bank for Information system audit

16 March 2017 at 12:24

AnnouncementInvitation for contributions to Question Bank in respect of Information SystemAudit-(Assessment Test (ISA-AT)(New Syllabus)Information Systems Audit is a post qualification course meant for the members of the Institute. Members who are re

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Posted in Students |    0 comments |   225 hits


Service Charges are Discretionary and Voluntary

15 March 2017 at 11:21

Service Charges are Discretionary/ Voluntary: Ministry of Consumer Affairs, Food and Public Distribution The Ministry of Consumer Affairs, Food and Public Distribution has issued advisory to all the State Governments/UTs to sensitise the companies, h

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Posted in Service Tax 1 comments |   401 hits


Date and Time for Mock Test Papers of May 17 Exams

15 March 2017 at 11:21

Date and Time Schedule for Webcast and Mock Test Papers for May- 2017 Examination The Board of Studies is organizing Webcasts and Mock Test Papers for Intermediate (IPC) Course and Final Course students on how to prepare for respective subje

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Posted in Exams 5 comments |   1382 hits


Macroeconomic Impact of Demonetisation

14 March 2017 at 10:32

Macroeconomic Impact of Demonetisation- A Preliminary Assessment

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Posted in Others 2 comments |   524 hits


GST is expected to have positive effect on trade and consumers

11 March 2017 at 12:05

The 122nd Constitution Amendment Bill, 2014 has been passed by the Parliament and after ratification by fifty percent of the States, the same has been enacted as 101st Constitution Amendment, Act, 2016. No Goods and Service Tax (GST) Bill has so far

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Posted in GST |    0 comments |   580 hits


Empanelment of Members to act as Observers in CA exams

11 March 2017 at 12:05

EMPANELMENT OF MEMBERS TO ACT AS OBSERVERS AT THE EXAMINATION CENTRES FOR THE CHARTERED ACCOUNTANTS EXAMINATIONS MAY / JUNE 2017. It is proposed to empanel members to act as Observers for the forthcoming MAY / JUNE 2017 Chartered Accountants Examinat

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Posted in Exams |    0 comments |   576 hits


17.92 Lakh persons tax profiles does not match with cash deposits

11 March 2017 at 12:05

Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period Income Tax Department (ITD) has initiated “Operation Clean Money

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Posted in Income Tax |    0 comments |   911 hits


Direct and indirect tax Collections shows a growth of 10.07% and 22.2% respectively upto Feb 2017

11 March 2017 at 12:05

Net Indirect Tax collection upto February 2017 stood at Rs 7.72 lakh crore, 22.2% more than the corresponding period last year Net Direct Tax collectionsupto February 2017 stood at Rs. 6.17 lakh crore, 10.7% more than the corresponding period last y

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Posted in Income Tax |    0 comments |   143 hits


Roll out of GST by 1st July 2017

11 March 2017 at 12:05

Roll out of GST-1st July 2017; Draft CGST Law and Draft IGST Law approved in the 11th Council Meeting held on 4 March 2017 The GST Council in its 9th Meeting held on 16 January 2017 took note of the work to be completed for the rollout of GST and aft

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Posted in GST 4 comments |   1010 hits






Updated on : 27/03/2017 04:12:00


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