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Govt asks employees to use debit card for personal transaction


Government of India takes policy decisions to encourage cashless electronic transactions Asks the Government employees to take the lead and maximize the usage of Debit Cards for personal related transactions instead of cash In the recent years advancements in banking technology progress in mobile ba

IT dept rejects Rs 2 lakh crore IDS declaration by a family from Mumbai


Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme IDS was announced in the Union Budget 2016 17 under which declaration of undisclosed income or assetcould be made by agreeing to pay forty five percent 45 of the declared amount as tax surcharge a

New facility for online request of duplicate mark sheet for CA exam


Introduction of the facility of on line submission of requests for issue of duplicate mark sheets pass certificates An on line facility for submission of requests for issue of duplicate mark sheets pass certificates has been put in place at http icaiexam icai org Those who are desirous of applying f

RBI to release new notes for Rs 20 and Rs 50 soon


Issue of Rs 20 banknotes with the inset letter L with numerals in ascending size in number panels and without intaglio printing The Reserve Bank of India will shortly issue Rs 20 denomination banknotes in the Mahatma Gandhi Series 2005 with inset letter L in both the number panels bearing signature

Tax Investigations unearth misuse of Jan Dhan Accounts


Tax Investigations unearth mis use of Jan Dhan Accounts Account holders once again urged by CBDT not to consent to any kind of mis use of their accounts which would expose them to the dangers of being held responsible for the tax evasion by unscrupulous elements Investigation being conducted by the

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Experts Opinions

Cash in hand


dear sir while preparing first time balancesheet how much i can shown cash in hand whether i can decalare cash in balancesheet above 250000 if any problem or not give repaly

Query about late fee in case of late filing of er-3 return.


Dear Experts I am working in a company which are required to file excise return quarterly i e ER 3 for 2nd qtr we were required to file return upto 10th oct 16 but due to some reason i could not file it timely I filed the return 0n 1st Dec 16 with late fee of Rs 100 per day subject to maximum of Rs

Applicablility of service tax


Dear Expert one of my client having soyabean plant in this we process soyabean seed after processing DOC refined soya oil is come out IS feeding of soyabean seed we are outsourcesd this work to third party is applicable of service tax

Capital gains on foreign rsus


I m Pawan Sharma based in Delhi Recently I sold RSUs of my US based company Please refer following tutorial on short term capital gain from Income tax web site http www incometaxindia gov in tutorials 14 stcg pdf There is a new clause on capital gain from stocks on page 6 and example on bottom of Pa

mca-llp incorporation form error


While prescurity the llp form getting error person who has digitally signed the e form does not correspond to the din Plz help for resolve the issue

Discussion

Capital gain on agricultural land (most urgent)

Please suggest whether cap gain tax will attract or not in case of sale of agricultural land and further the acquisition of new land is made in name of other person of same family please suggest some case laws

Joint venture of a subsidiary calculation required- equity method

If a company X has a subsidiary Y 67 shareholding and the company Y has joint venture with company Z 50 Now what should company X account for JV 67 50 33 or 50 Pl provide the relevant IFRS example

Substantial cash transaction

We are HUF and have pan card in name of HUF and current account in the name of HUF Banks have taken my pancard and my sons pan card for purpose of Authorized Signatory KARTA and mapped to the HUF current account Now if i login to my and my sons income tax online its showing with Substantial Cash Tra

Short term capital gain can be shown as other inc?

So I went to CAToday I had some short term capital gain around 9K from IPO She said 9k is not big amount Wewill show as other income Koi baat nahi Now what i know that its not right thing but since its not a big amount it would be okey

Issuance of 35 days Cash Management Bills under Market Stabilisation Scheme (MSS)

The Reserve Bank of India will conduct an auction of 35 days Government of India Cash Management Bills under the Market Stabilisation Scheme MSS for a notified amount of 60 000 crore tomorrow December 06 2016 using Multiple Price Auction method The bids for the auction should be submitted in electro

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Articles

Section 40A(3) disallowance of expense made in cash & its exceptions


Section 40A 3 of the Income tax Act The payment made more than 20 000 in cash and its result Section 40a 3 of the Income tax Act provides that any expenditure incurred in relation to business is made in a sum exceeding Rs 20 000 in a single day otherwise than by account payee cheque or draft shall n


Do CAs have competitive advantage?


Hello folks Its been quite a while since I made any comment on this forum let alone penning down an article I was actually working on two of my articles Buying health insurance and What Employers want Both are complete but Im just not able to make time to write them on CCI as they are too long Will


CA syllabus is like a mountain to climb


As is the saying Time flies and you are the pilot CA syllabus is like a mountain to climb and many of my friends are working at the moment They might not get adequate time for preparations once the result comes out 5 months remain for the next attempt So whats my point Why not spare 1 hour daily for


Removal of chairman under companies act, 2013 - Tata Sons Case


On 24th October 2016 Cyrus Mistry was removed as the chairman of Tata Sons and replaced by Mr Ratan Tata who has been appointed as an interim chairman for four months The grounds of removal and Cyrus Mistrys own defence are not discussed here For our perspective the manner in which this move was car


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


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Updated on : 12/6/2016 4:29:09 PM


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