RBI announces second set of measures to preserve financial stability
“…In the midst of death life persists, in the midst of untruth truth persists, in the midst of darkness light persists.” – Mahatma Gandhi, during his...
Category : News
Hon’ble Finance Minister’s Relief Measures Announced on 26.03.2020
*FM Relief package on 26-03-2020* Package will benefit the migrant workers, women and disabled persons Package worth is Rs. 1.7 Lakh Crores Gratitude to the...
Finance Minister Smt. Nirmala Sitharaman announcements on 24-03-2020
1.The last date for Income tax return for FY 2018-19 shall be extended from 31-03-2020 to 30-06-2020. Interest on delayed payment has been reduced from...
Forms required to submit for availing benefit under ‘DIRECT TAX VIVAD SE VISHWAS’ Scheme will be available in the e-Filing soon
After the President gives accent to the Direct Tax Vivad Se Vishwas Act, 2020 on 17th March, 2020, the Income Tax Efiling Website has updated...
CBIC issued FAQs on SABKA VISHWAS (LEGACY DISPUTE RESOLUTION) SCHEME, 2019
The Central Board of Indirect Taxes & Customs issued FAQs on Sabka Vishwas (Legacy Dispute Resolution) Scheme , 2019. The Scheme was introduced vide Finance...
Financial assistance to Start ups
Ministry of Commerce & Industry Financial Assistance to Startups Posted On: 21 JUN 2019 1:05PM by PIB Delhi Direct funding support to startups is not...
ICAI issues Exposure Draft on Accounting Standard 34 Interim Financial Reporting
Accounting Standard Board has finalised AS 34, Interim Financial Reporting, taking AS 25, Interim Financial Reporting, notified by MCA as the base. Major differences between...
Notification No. 05/2019 – Customs – Goods originating in or exported from Pakistan attracts 200% Custom duty
MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 16th February, 2019 No. 05/2019-Customs G.S.R. 124(E).—WHEREAS, the Central Government is satisfied that the import...
SEBI amended Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations, 2018 which will come into force from 01.04.2019 – SEBI
The Securities Exchange Board of India rationalises certain regulations which may be called as Securities and Exchange Board of India (Prohibition of Insider Trading) (Amendment) Regulations,...
Exposure Draft Accounting Standard (AS) 41 Agriculture – ICAI
ICAI releases an exposure draft of AS 41 Agriculture...
Indirect Taxes Committee issued E- Publication on Expempted Supplies under GST –
In order to facilitate members and other stakeholders in understanding the exemptions under GST, Indirect Taxes Committee of ICAI has decided to bring out E-publication...
Guidance Note on Audit of Banks (2019 Edition) – ICAI
The Guidance Note on Audit of Banks is issued by the Auditing and Assurance Standards Board (AASB) of ICAI every year with the objective to...
CBDT Extends the due date for furnishing of report under section 286 (4) of the Income-tax Act, 1961 – Circular 9 of 2018 dated 26.12.2018
In order to remove the genuine hardship in furnishing of the report under sub-section (4) of section 286 of the Act read with sub-rule (4)...
CBDT issues explanatory notes to the provisions of the Finance Act, 2018 on 26.12.2018 – Circular no.8/2018 , CBDT
The Central Board of Direct Taxes vide its Circular No. 8/2018 dated 26.12.2018 issued explanatory notes to the provisions of the Finance Act, 2018 To...
The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be drawn while invoking the provision of section 50C of the Act. – Bombay High Court
Held : “The assessee can be taxed only on the gain which is oozing out from the sale consideration, thus, no adverse inference can be...
ITC in relation to invoices issued by the supplier during the FY 2017-18 may be availed by the recipient till the due date for furnishing of Form GSTR -3B for the month of March, 2019 – GST Council
The GST council in its meeting held today at New Delhi recommend ITC in relation to invoices issued by the supplier during the FY 2017-18 may...
GST council decides to reduce tax rate from 28%to 18% Monitors & TVs , Power Banks, Digital camera and video Cameras – GST council
GST Council in its 31st Council meeting held today at New Delhi decided to reduce tax rates on various items such as: From 28% to...
Form CHG-4 is likely to be revised w.e.f 25th December, 2018- MCA
Form CHG-4 is likely to be revised on MCA21 Company Forms Download page w.e.f 25th December, 2018. Stakeholders are advised to check the latest version...
Forms A-XBRL, 23B and MSC-1 are likely to be revised w.e.f. 20.12.2018- MCA
Forms A-XBRL, 23B and MSC-1 are likely to be revised on MCA21 Company Forms Download page w.e.f 20th December, 2018. Stakeholders are advised to check...