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ICAI invites suggestions on revised Model GST Law

Your feedback concerns and suggestions received on Model GST Law were communicated and as can be seen many amendments are due to the suggestions made by us CBEC has now releasedrevised draft Model GST Lawin the public domain The same can be viewed at the below link http idtc icai s3 amazonaws com do

Bank official suspended for not following RBI guidelines

Action taken in cases of bank officials involved in carrying out irregular transactions violative of RBIs instructions post demonetisation of Specific Bank Notes by the Government w e f midnight of 8th November 2016 Pursuant to the decision of the Government to demonetise Specified Bank Notes w e f

No seizure of gold jewellery upto 500 grams per married lady and 250 gm for unmarried

Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws Second Amendment Bill 2016 is totally unfounded and baseless In the wake of Taxati

RBI advises banks not to trust guidelines being circulated in social media

Information from Unauthenticated Sources Advisory to banks RBI 2016 17 166 DCM Plg No 1500 10 27 00 2016 17 The Chairman Managing Director Chief Executive Officer Public Sector Banks Private Sector Banks Foreign Banks Regional Rural Banks Urban Cooperative Banks State Cooperative Banks Dear Sir Info

Old 500 Note cannot be used at Petrol Pump and for Air Ticket Purchase wef 03.12.2016

MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS NOTIFICATION New Delhi the 30th November 2016 S O 3598 E In exercise of the powers conferred by sub section 2 of section 26 of the Reserve Bank of India Act 1934 2 of 1934 the Central Government hereby further amends the notification of the Governme

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Experts Opinions

Not related to academic

Hi Actually i wanted to scrap out my old CA modules so wanted to know whether institute has any provision for that so that i could give these books by doing this practice books could be recycled

Construction or renovation of plant or building

Dear Experts I am working in a public limited company We used to Repair or construction of plant or office building through contractor We will pay the contractor on square feet basis on work done here all the materials supplied by us and contractor is just working as per our instructions Contractor

Tin no regarding

dear sir whether i has to sale diamond of RS 1000000 whether i has to apply tin no or not whether bill book made home address or office address vat is applicable or not

Acknowledgement of return received by dept late plus 44AD not maintained

One of my client is salaried plus he runs a car on hire with ola His salaried income was not taxable His Ola income was in loss of 3896 rupees But ola has deducted tds of 2850 while giving revenue I have filed is refund return on time and send him acknowledgment to be delivered to Bangalore office w

Special economic zone....

sir coimbatore city comes under special economic zone when coimbatore comes under this category


Query regarding articleship completion

Respected Sir Mam my articleship completion date was 07 10 2016 but due to transfer in 1st year of articleship my completion date was 12 10 2016 and also i had submitted the form on 11 11 2016 i e within 30 days reckoned from 12 10 2016 and not from 07 10 2016 Whether it would be considered as delay

Are all online transactions, not pos, involve the otp

Hi Now online services are way of life You get everything thro online But involves risk also I noticed that some banks or provider ask for cvv and some pin codes I recently heard that the card number could be compromised by expert hackers by so much methods OTP is a security measure to compulsorily

IT Notice

Respected sirDOES Notice for the transactions mentioned under CIB is issued only in case of non filing of return or otherwise also

Everything to know about 44ad

Everything you need to know about Presumptive Taxation The advantage of Section 44AD of the IT Act has been extended to Professionals like CAs Lawyers and Doctors Etc as well A professional whose total receipts during the financial year is less than fifty Lakhs is eligible for presumptive taxation U

Should cash deposit in bank in fy 13-14 and no return file

Hi I am a salaried employee in FY 13 14 and I had deposited around 3 lac rupees in cash in bank account which is in the name of mine as first holder my father as a second holder and my grandmother as a third joint holder This cash deposit consits of Rs 10000 deposited in each month from my salaried

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Currency Ban: How penalty cannot be imposed on cash deposits in bank account under Income Tax Act, 1961

Introduction We are going through a very unusual phase of Indian economy where people are rushing nowhere carrying cash in hand I have experience it first time when people are ready to pay the full amount of tax or they are ready to even forego 50 of the amount still they are not able to buy peace o

Do not underestimate ISCA in CA final

What is ISCA all about ISCA Information System Control and Audit has been a nightmare for students at the final level During the IPCC level students get the rid of IT by preparing well enough the SM portion But its not so possible to the final level one has to score at least 40 marks to pass the exa

Section 144 - A new avatar in the Companies Act On 'Auditor not to render certain services'

A New Concept Section 144 of the Indian Penal Code is normally promulgated to avoid unlawful assembly of people with attempt to cause public disturbance It is not on normal situations But for number sack of the Section 144 of the Companies Act 2013 on Auditor not to render certain services what abou

Yes, India can have less-cash economy

Yes India can have less cash economy The prime minister has struck a chord with the poor India economy has been the pride of world It has been showcased as the only growing economy a proud moment for Indians particularly under Prime Minister Narendra Modi However a section of media and political par

Transformational value of CA articleship

If you have a vision for your future that you can become a successful CA then believe me you must be serious with your article ship training You must always remember that you are known by the quality ofwork and not by qualification alone CA Qualification serves as a gate pass only The quality of wor

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Updated on : 12/5/2016 5:09:10 AM


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