CAclubindia News

CPE hours requirements for the block period of 3 years

21 December 2016 at 10:48

CPE HOURS REQUIREMENTS FOR THE BLOCK PERIOD OF 3 YEARS (1-1-2014 TO 31-12-2016) TO BE COMPLIED WITH BY DIFFERENT CATEGORIES OF MEMBERSA. All the members (aged less than 60 years) who are holding Certificate of Practice (except all those members who a

Posted in Professional Resource | 5211 Views

Savings bank interest rate may be impacted post demonetisation says FM

21 December 2016 at 10:48

FM: India remains a bright point in global economy and BRICS in particular despite the slowdown in global economy in 2016 The Union Finance Minister Shri Arun Jaitley said that the current Financial Year 2016-17 is not a conventional year as many maj

Posted in Others | 1 comments | 4020 Views

CBT recommends 8.65% interest on EPF for the year 2016-17

20 December 2016 at 10:41

Shri Bandaru Dattatreya chaired the 215th meeting of the Central Board of Trustees (EPF) CBT recommends 8.65% interest on EPF to its subscribers for the year 2016-17 The Minister of State for Labour and Employment (Independent Charge) Shri Bandaru Da

Posted in Income Tax | 3810 Views

Schedule for Convocation of newly qualified CA

20 December 2016 at 10:41

In order to promote a sense of comradeship among members and for bringing them closer to the Institute, the Institute of Chartered Accountants of India (ICAI) organize Convocations for distributing certificates to the newly qualified members. In fact

Posted in Professional Resource | 3 comments | 9552 Views

Deemed profit u/s 44 AD reduced from 8% to 6% for digital transaction

19 December 2016 at 17:57

Government decides to reduce the existing rate of deemed profit under section 44AD of the Income Tax Act in respect of amounts/receipts through banking channel/digital means Under the existing provisions of section 44AD of the Income-tax Act, 1961 (t

Posted in Income Tax | 7 comments | 24903 Views

Deposit exceeding Rs 5000 can be made only once per account till 30th Dec 2016

19 December 2016 at 12:52

MINISTRY OF FINANCE(Department of Economic Affairs) NOTIFICATIONS.O. 4086(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 Government hereby makes the follo

Posted in Income Tax | 2 comments | 24933 Views

Govt clarifies status of political party under Income Tax Act

19 December 2016 at 11:36

Clarification of Status of Political Parties under Income Tax Act, 1961 There have been some newspaper reports which seem to wrongly suggest that there cannot be any scrutiny of Income-tax returns of political parties registered with the Election Co

Posted in Income Tax | 3969 Views

Measures to absorb the excess liquidity in the banks post demonetisation

19 December 2016 at 11:36

Reserve Bank of India (RBI) has taken several measures to absorb the excess liquidity in the banks post demonetisation. It has introduced incremental CRR of 100% on deposits collected between September 16 and November 11,2016 effective from the fortn

Posted in Income Tax | 1980 Views

Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

19 December 2016 at 11:36

The Taxation Laws (Second Amendment) Bill, 2016, passed by Lok Sabha on 29.11.2016, interalia seeks to introduce the, ‘Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (the Scheme)’. A declarant under the Scheme

Posted in Income Tax | 3303 Views

Undisclosed income of Rs 2600 crore admitted since 8th Nov

19 December 2016 at 11:36

Income Tax Searches lead to Admission of Undisclosed Incomes of Rs. 2600 Crore since 8th November, 2016. The Income Tax Department has continuously been carrying out investigations since the de-monetisation of Old High Denomination (OHD) currency ann

Posted in Income Tax | 2793 Views