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CBDT issues third round of Certificates of appreciation to tax payers
09 February 2017 at 11:09Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 7th February, 2017.CBDT issues third round of Certificates of appreciation to tax payers for their contribution towards Nation building.In continuatio
Cash withdrawal limit increased to Rs 50000 from 20th feb and removed from 13th March
09 February 2017 at 11:09Removal of limits on withdrawal of cash from Saving Bank AccountsRBI/2016-17/224DCM (Plg) 3107/10.27.00/2016-17All BanksDear Madam / Sir,Removal of limits on withdrawal of cash from Saving Bank AccountsPlease refer to our circular DCM (Plg) 2905/10.2
Tax Relaxation under NPS
06 February 2017 at 11:35The Finance Act, 2016 amended the Income-tax Act, 1961 (the Act) to provide that 40% of the amount payable to the employee subscriber of NPS on his closure of account or his opting out of the scheme, shall be exempt from tax.Further, Finance Bill, 20
Tax Relief under GST
06 February 2017 at 11:35All decisions of GST Council so far have been taken unanimously. Various states may have different points of view on an issue but the final decisions have been unanimous. The issue regarding treatment of the existing tax incentive schemes of the Cent
Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore
06 February 2017 at 11:35Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore; the Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore. For the financial
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
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