CAclubindia News

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

05 December 2016 at 11:33

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

Posted in Income Tax | 1 comments | 18393 Views

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

05 December 2016 at 10:47

Issue of Rs. 20 banknotes with the inset letter 'L', with numerals in ascending size in number panels and without intaglio printingThe Reserve Bank of India will shortly issue Rs. 20 denomination banknotes in the Mahatma Gandhi Series-2005, w

Posted in Community & General | 3738 Views

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

05 December 2016 at 10:47

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://i

Posted in Exams | 4629 Views

Tax Investigations unearth misuse of Jan Dhan Accounts

05 December 2016 at 10:47

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 unscrupu

Posted in Income Tax | 2 comments | 3066 Views

ICAI invites suggestions on revised Model GST Law

03 December 2016 at 12:11

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 released revised draft Model GST Law in the public domain. The same can be vie

Posted in GST | 5247 Views

Bank official suspended for not following RBI guidelines

03 December 2016 at 12:11

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

Posted in Community & General | 2 comments | 13602 Views

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

02 December 2016 at 11:30

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, i

Posted in Income Tax | 13623 Views

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

02 December 2016 at 11:08

Information from Unauthenticated Sources � Advisory to banksRBI/2016-17/166DCM (Plg) No.1500/10.27.00/2016-17The Chairman / Managing Director/ Chief Executive Officer,Public Sector Banks/ Private Sector Banks / Foreign Banks/ Regional RuralBank

Posted in Community & General | 1 comments | 3738 Views

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

01 December 2016 at 17:41

MINISTRY OF FINANCE(DEPARTMENT OF ECONOMIC AFFAIRS)NOTIFICATIONNew Delhi, the 30th November, 2016S.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

Posted in Community & General | 2994 Views

ICAI President's Message - December 2016

30 November 2016 at 16:32

Indian accountancy profession has been acting responsibly offering its complete support to the Government of India in its initiatives, particularly those relating to economy.

Posted in Professional Resource | 4497 Views