CAclubindia News

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 | 3033 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 | 5199 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 Others | 2 comments | 13587 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 | 13596 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 Others | 1 comments | 3717 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 Others | 2958 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 | 4464 Views

Interest rate cut in PPF and KVP by 0.10 percent in this quarter

30 November 2016 at 11:14

Interest rate cut for long term saving schemes The interest rates of Public Provident Fund (PPF), Kisan Vikas Patra (KVP), Senior Citizens Savings Scheme, 2004, and Sukanya Samriddhi Account (the Girl Child Scheme) were reduced by 0.10 percentage po

Posted in Others | 4749 Views

Procedure for registration as an Insolvency Professional with ICAI

30 November 2016 at 10:42

The Indian Institute of Insolvency professionals of ICAI (IIIPI), a section 8 Company formed by the Institute of Chartered Accountants of India to enroll and regulate insolvency professionals as its members in accordance with the Insolvency and Bankr

Posted in Professional Resource | 9969 Views

POS Devices exempted from Central Excise Duty till 31st March

30 November 2016 at 10:42

Point of Sale (POS) Devices and Goods required for their manufacture exempted from Central Excise Duty till March 31, 2017. The Government has demonetised the currency notes of Rs 500 and Rs 1,000 with effect from mid-night of 8th-9th November, 2016.

Posted in Excise | 1 comments | 5397 Views