TCS at 1 percent only applicable on cash portion of sale

25 June 2016 at 12:09

Circular No. 23/2016F.No.370142/17/2016-TPLGovernment of IndiaMinistry of FinanceDepartment of revenueCentral Board of Direct Taxes(TPL Division)Subject: Amendment in Section 206C of the Income-tax Act vide Finance Act 2016 In order to curb the cash

Posted in Income Tax 7 comments |   816 hits


Clarification regarding HUF cannot be partner in a partnership firm

24 June 2016 at 10:45

Clarification that HUF cannot be a partner but its karta or any individual of HUF can be a partner in a partnership firm in its individual capacity and not the HUF.

Posted in Professional Resource 3 comments |   802 hits


Empanelment as examiners for CA exams

24 June 2016 at 10:45

Applications are invited from eligible members of the Institute and other professionals including academicians of reputed educational institutions, tax and legal practitioners etc., having a flair for academic activities including valuation of answer

Posted in Exams 5 comments |   613 hits


Cabinet approves Tax and Production Incentives for Job Creation in Garment Manufacturing Sector

23 June 2016 at 10:45

Cabinet approves Tax and Production Incentives for Job Creation in Garment Manufacturing Sector Cabinet approves Special Package for Job Creation & Export Promotion in Textile & Apparel Sector Special Package to create 1 Crore Jobs in 3 Years

Posted in Others 1 comments |   408 hits


Amendment in Rule 114H of Income-tax Rules, 1962

23 June 2016 at 10:45

The Rule 114H of the Income-tax Rules, 1962 (the Rules) has been amended vide Notification No.48/2016 [S.O.2151(E)] dated 20th June 2016. In order to provide sufficient time to the reporting Financial Institutions for completing the due diligence pro

Posted in Income Tax |    0 comments |   601 hits


Clarification regarding threshold Limit of tax audit under section 44AB and 44AD

22 June 2016 at 10:47

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, the 20th June, 2016Sub: Threshold Limit of tax audit under section 44AB and section 44AD – clarification regardingSection 44AB of the Income-tax

Posted in Income Tax 4 comments |   1534 hits


Applicability of Amendments for Nov 2016 Final Exams

22 June 2016 at 10:47

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November, 2016 - Final ExaminationPaper 1: Financial Reporting I. Framework for the Preparation and Presentation of Financial Statements.II. Accounting StandardsAS No. AS

Posted in Exams |    0 comments |   1605 hits


Applicability of Amendments for IPC Nov 2016 Exams

22 June 2016 at 10:47

Applicability of Standards/Guidance Notes/Legislative Amendments etc. for November, 2016 – Intermediate (IPC) Examination Paper 1: AccountingAccounting StandardsAS 1 : Disclosure of Accounting PoliciesAS 2 : Valuation of InventoriesAS 3 : Cash

Posted in Exams |    0 comments |   804 hits


Clarification regarding News Report of Arrest of Tax Defaulters

22 June 2016 at 10:47

Certain sections of the press have been carrying news reports today that Income Tax Department is going to arrest wilful defaulters of tax. In this regard, it is clarified that no such statement has been authorised by the Income-tax Department. Thoug

Posted in Income Tax |    0 comments |   387 hits


Non applicability of MCA amendments in Nov 2016 CA Exams

21 June 2016 at 10:41

Non-applicability of Amendments made by MCA in the Companies (Accounting Standards) Rules, 2006 and Companies (Indian Accounting Standards) Rules, 2015 for November, 2016 Examination Any new AS or Ind AS or revised version of AS or Ind AS, notified b

Posted in Exams |    0 comments |   732 hits


Major take aways from Annual conference of tax administrators

20 June 2016 at 10:41

"Rajswa Gyansangam- Annual Conference of Tax Administrators-2016”concludes; Major Take Aways from two day “Annual Conference of Tax Administrators-2016” include further improvement in Tax Payers Services by use of technology an

Posted in Income Tax |    0 comments |   270 hits


FAQ for Chartered Accountants on responding to tender

20 June 2016 at 10:40

A notification published in Part III Section 4 of the Gazette of India: Extraordinary dated 7th April, 2016 has been issued by the Institute containing the guidelines on responding to tenders which can be viewed at http://www.icai.org/new_post.html?p

Posted in Professional Resource |    0 comments |   400 hits


ICSI celebrates CS day

16 June 2016 at 10:30

ICSI - Message from President - PCS Day - -

Posted in Professional Resource 1 comments |   602 hits


GMCS course discontinued and merged with Orientation programme

16 June 2016 at 10:30

The Council has decided to dispense with the General Management and Communication Skills (GMCS) – I Course and merge its syllabus with Orientation Programme. Hence forthwith, it will be known as Orientation Course. Accordingly, it has been deci

Posted in Students 10 comments |   3517 hits


ICAI joins Chartered Accountant Worldwide

16 June 2016 at 10:30

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA JOINS CHARTERED ACCOUNTANTS WORLDWIDE GAINING INTERNATIONAL BRAND RECOGNITION The Institute of Chartered Accountants of India (ICAI) has been awarded Associate membership by Chartered Accountants Worldw

Posted in Professional Resource 1 comments |   1339 hits


Draft GST law released by Ministry of Finance

15 June 2016 at 10:43

GOODS AND SERVICES TAX ACT, 2016 CHAPTER - IPRELIMINARY1. Short title, extent and commencement2. Definitions3. Meaning and scope of supplyCHAPTER- IIADMINISTRATION4. Classes of officers under the Central Goods and Services Tax Act4. Class

Posted in Service Tax 1 comments |   1472 hits


Annual conference of CBDT and CBEC on 16th June

13 June 2016 at 10:35

Prime Minister to inaugurate the two day Annual Conference of CBDT &CBEC entitled “------ --------- – Annual Conference of Tax Administrators 2016” on 16th June, 2016 in the national capital; PM to motivate the revenue officers

Posted in Professional Resource 2 comments |   419 hits


Simplification of procedure for Form 15G and 15H

11 June 2016 at 12:00

F.No. DGIT(S)/CPC(TDS)/DCIT/15GH/2016-174539Government of IndiaMinistry of FinanceCentral Board of Direct TaxesDirectorate of Income-tax (Systems)New Delhi.Notification No 1/2016 Dated: 09th June, 2016Subject: Simplification of procedure for Form No.

Posted in Income Tax |    0 comments |   1849 hits


Notification issued to exempt the legal services provided by senior advocates

07 June 2016 at 16:30

Seeks to amend notification No. 25/2012 - Service Tax, dated the 20th June, 2012, so as to exempt the legal services provided by senior advocates to a business entity with a turnover up to rupees ten lakh in the preceding financial year.[TO BE PUBLIS

Posted in Service Tax 5 comments |   1515 hits


EVC can be generated through ATM now

07 June 2016 at 10:45

Now Electronic Verification Code (EVC) can be generated through ATM. State Bank of India is the first bank to launch this facility which will facilitate its customers, who may not have a net-banking account, to e-verify their return. Other banks are

Posted in Others 1 comments |   1365 hits






Updated on : 26/06/2016 11:53:00


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