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Submission of CA Examination Application Forms Online
06 February 2017 at 11:35Announcement2nd February 2017For the attention of candidates of CA examinationsSubmission of CA Examination Application forms on-lineIt is hereby informed that sale and submission of physical i.e. OMR examination application forms have been discontin
ICSI welcomes Union Budget 2017-18
03 February 2017 at 10:34CS (Dr.) Shyam Agrawal, President, ICSI welcomes Union Budget 2017-18 with a focus on stimulating growth, providing relief to middle class, affordable housing, curbing black money, promoting digital economy, transparency in electoral funding and simp
New Benefits announced for NPS Subscribers in Union Budget 2017-18
03 February 2017 at 10:34In a bid to provide further impetus to the National Pension System (NPS), the following provisions have been introduced in the Finance Bill 2017 laid down in the Parliament today. Tax-exemption to partial withdrawal from National Pension System (NPS
Disallowance of depreciation on capital expenditure made in cash
02 February 2017 at 13:05Under the existing provisions of the Act, revenue expenditure incurred in cash exceeding certain monetary threshold is not allowable as per sub-section (3) of section 40A of the Act except in specified circumstances as referred to in Rule 6DD of the
Strengthening of PAN quoting mechanism in the TCS regime
02 February 2017 at 12:47Statuary provisions for deduction of tax at source (TDS) at higher rate of 20% or the applicable rate whichever is higher) in case of non-quoting of Permanent Account Number (PAN) is provided under section 206AA of the Act and it exist since April, 2
Rationalisation of section 211 and 234C relating to advance tax for professionals
02 February 2017 at 12:33Rationalisation of section 211 and section 234C relating to advance taxSection 211 of the Act provides for instalments of advance tax and due dates for depositing the same. Clause (b) of sub-section (1) of the said section provides that an eligible a
Startups can claim deduction within 7 years now u/s 80-IAC
02 February 2017 at 12:16Extending the period for claiming deduction by start-upsThe existing provisions of section 80-IAC, inter alia, provide that an eligible start-up shall be allowed a deduction of an amount equal to one hundred per cent of the profits and gains derived
Threshold limit increased for maintenance of books of accounts of Individuals and HUF
02 February 2017 at 12:16Increasing the threshold limit for maintenance of books of accounts in case of Individuals and Hindu undivided family The existing provisions of clause (i) and clause (ii) of sub-section (2) of section 44AA of the Act cast an obligation on every pers
Income tax rates in respect of income liable to tax for AY 2017-18
02 February 2017 at 12:16DIRECT TAXESA. RATES OF INCOME-TAX I. Rates of income-tax in respect of income liable to tax for the assessment year 2017-18. In respect of income of all categories of assessees liable to tax for the assessment year 2017-18, the rates of income-tax h
Base year shifted to 2001 from 1981 for computation of capital gains
02 February 2017 at 12:16Shifting base year from 1981 to 2001 for computation of capital gainsThe existing provisions of section 55 provide that for computation of capital gains, an assessee shall be allowed deduction for cost of acquisition of the asset and also cost of imp
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