CAclubindia News

Govt waives service tax for payment made below Rs 2000 by card

09 December 2016 at 10:21

Government waives service tax charged while making payments through credit card, debit card, charge card or any other payment card; waiver limited to payments up to Rs. 2,000 in a single transaction When a customer uses a credit card, debit card, ch

Posted in Service Tax | 4 comments | 5898 Views

Inflow of funds into Jan Dhan accounts not alarming says Govt

08 December 2016 at 11:03

Inflow of Funds into Jan Dhan Accounts not alarming; Income Tax Department identifies the local clusters and Bank Branches where the inflow of Jan Dhan deposits have been more than normal Since the time the Government has alerted people not to allow

Posted in Income Tax | 1 comments | 12207 Views

RBI Withdraws the Incremental CRR

07 December 2016 at 16:29

On November 26, 2016 the Reserve Bank had announced an incremental cash reserve ratio (CRR) of 100 per cent of the increase in net demand and time liabilities (NDTL) of scheduled banks between September 16, 2016 and November 11, 2016 effective the fo

Posted in Community & General | 2532 Views

Syllabus for the Limited Insolvency Exam of ICAI to become Insolvency Professional

07 December 2016 at 16:29

Syllabus for the Limited Insolvency Examination on 31st December, 2016 to become Insolvency ProfessionalInsolvency and Bankruptcy Board of IndiaLimited Insolvency ExaminationThe Board hereby publishes the syllabus, format and frequency of the �

Posted in Exams | 9 comments | 7590 Views

Two factor authentication removed by RBI for transaction lower than Rs 2000

07 December 2016 at 10:37

Card Not Present transactions � Relaxation in Additional Factor of Authentication for payments upto ₹2000/- for card network provided authentication solutionsRBI/2016-17/172DPSS.CO.PDNo.1431/02.14.003/2016-17December 6, 2016The Chairman and Man

Posted in Community & General | 14313 Views

Govt directs banks to install more than one million new POS terminal by March 2017

07 December 2016 at 10:37

In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017;. 2,73,919 camps organized to open banks accounts for unorganized labour in

Posted in Community & General | 3675 Views

Rs 2000 crore of undisclosed inc admitted by taxpayers since demonetisation

07 December 2016 at 10:37

Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016; More than Rs. 130 crore in cash and jewellery seized and approximately Rs. 2,0

Posted in Income Tax | 3258 Views

BRICS countries expresses commitment to ensure fairness of the International Tax System

06 December 2016 at 17:23

Joint Communiqué issued at the end of the two day Meeting of the BRICS Heads of Revenue and Experts on Tax Matters at Mumbai today; Heads of Revenue express their continued support to all international initiatives towards reaching a globally f

Posted in Community & General | 1 comments | 2097 Views

Payment above Rs 5000 by govt to be made digitally

06 December 2016 at 10:38

Any Payment above Rs.5,000 to Suppliers, contractors, grantee/loanee institutions etc by Government Departments to be now made through e-Payment to attain the goal of complete digitization of Government payments. In order to attain the goal of comple

Posted in Income Tax | 4 comments | 13389 Views

Govt asks employees to use debit card for personal transaction

06 December 2016 at 10:38

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, adva

Posted in Community & General | 3 comments | 2292 Views