CAclubindia News

ICAI announces changes in the CA Final course Corporate Law paper

11 July 2019 at 11:25

Detailed announcement chapter wise as to Inclusion/ Exclusion of topics from the scope of syllabus of Paper 4: Corporate and Allied Laws (Old Course)[in continuation of earlier announcement dated 3/7/19 ][I] Exclusion of topics from the scope of syll

Posted in Students | 7 comments | 15906 Views

Cabinet approves the Banning of Unregulated Deposit Schemes Bill, 2019

11 July 2019 at 11:25

Bill to be introduced in ensuing session of ParliamentThe Union Cabinet, chaired by the Prime Minister Narendra Modi has approved the banning of Unregulated Deposit Schemes Bill, 2019. It will replace the banning of Unregulated Deposit Schemes Ordin

Posted in Others | 1 comments | 4476 Views

No proposal to extend IT return date : Govt

10 July 2019 at 11:21

Government has recently changed Form 16 and Form 24 Q to bring more disclosures. In order to enable pre-filling of return of income of salaried taxpayers, the Government has amended Form No. 16 (certificate for tax deduction) and Form No. 24Q (quart

Posted in Income Tax | 1 comments | 36732 Views

Technology changes in Income Tax Department

09 July 2019 at 12:03

The Government is continuously taking several initiatives to enhance the technology back bone of the Income Tax Department (ITD). ITD is having a dedicated directorate called �Directorate of System� which handles the technology aspects of

Posted in Income Tax | 1 comments | 9885 Views

Few important takeaways from the Memorandum Finance Bill 2019

06 July 2019 at 13:40

Facilitating demerger of Ind-AS compliant companiesOne of the existing conditions for tax-neutral demergers is that the resulting company should record the property and the liabilities of the undertaking at the value appearing in the books of account

Posted in Union Budget | 1 comments | 4794 Views

Rs 1.5 lac tax incentive for affordable housing

05 July 2019 at 18:07

Tax incentive for affordable housing In order to provide an impetus to the �Housing for all� objective of the Government and to enable the home buyer to havelow-cost funds at his disposal, it is proposed to insert a new section 80EEA in t

Posted in Union Budget | 3 comments | 6105 Views

Compulsory electronic payments for business with turnover above 50 crore

05 July 2019 at 18:04

Mandating acceptance of payments through prescribed electronic modes In order to achieve the mission of the Government to move towards a less cash economy to reduce generation and circulationof black money and to promote digital economy, it is propos

Posted in Union Budget | 6069 Views

1% immovable property TDS to be applied on amenities also

05 July 2019 at 17:43

TDS at the time of purchase of immovable property Section 194-IA of the Act relates to payment on transfer of certain immovable property other than agricultural land and providesfor levy of TDS at the rate of one per cent. on the amount of considerat

Posted in Union Budget | 3936 Views

Mandatory furnishing of return if high value transaction made

05 July 2019 at 17:43

Currently, a person other than a company or a firm is required to furnish the return of income only if his total income exceedsthe maximum amount not chargeable to tax, subject to certain exceptions. Therefore, a person entering into certain high val

Posted in Union Budget | 2622 Views

New TDS levy section 194M introduced for payment by individual and HUF for business

05 July 2019 at 17:43

At present there is no liability on an individual or Hindu undivided family (HUF) to deduct tax at source on any payment madeto a resident contractor or professional when it is for personal use. Further, if the individual or HUF is carrying on busine

Posted in Union Budget | 4665 Views