Daily Archives: December 4, 2016

New Rs 50 bank Notes to be issued by RBI

By | December 4, 2016

Issuance of Rs 50 banknotes without inset letter, with numerals in ascending size in number panels, and without intaglio printing The Reserve Bank of India will shortly issue Rs 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr. Urjit R Patel, Governor, Reserve Bank… Read More »

Rs 2.13 Lakh Crore Declarations made under the IDS 2016 rejected

By | December 4, 2016

Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme (IDS) was announced in the Union Budget 2016-17 under which declaration of undisclosed income or assetcould be made by agreeing to pay forty five percent (45%) of the declared amount as tax, surcharge and penalty. The scheme closed on 30th… Read More »

Online Duplicate mark sheet / Pass certificate for CA Students

By | December 4, 2016

Online Duplicate mark sheet /Pass certificate for CA Students An on-line facility for submission of requests for issue of duplicate mark sheets/pass certificates has been put in place at http://icaiexam.icai.org. Those who are desirous of applying for issue of duplicate mark sheets/pass certificates, can now apply for the same, on-line, at the above site and… Read More »

Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by Auditing and Assurance Standards Board

By | December 4, 2016

Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Auditing and Assurance Standards Board – (01-12-2016) Download Guidance Note on Reports in Company Prospectuses (Revised 2016) issued by the Auditing and Assurance Standards Board – (01-12-2016)

ICAI invites suggestions on revised Model GST Law

By | December 4, 2016

 ICAI invites suggestions on revised Model GST Law – (02-12-2016) 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… Read More »

switching fee waived for RuPay PoS and e-commerce transactions

By | December 4, 2016

National Payments Corporation of India Press release November 14, 2016 NPCI waives switching fee for RuPay PoS and e-commerce transactions Mumbai: National Payments Corporation of India (NPCI) has announced that it has waived the switching fee for all RuPay Issuing and Acquiring member banks for Point of Sales (PoS) and eCommerce transactions with effect from… Read More »

Undisclosed Income :- PMGKY vs. Voluntary disclosure under Sec. 115BBE

By | December 4, 2016

Disclosure under PM Garib Kalyan Yojna vs. Voluntary disclosure under Sec. 115BBE Sr. No. Points of comparison Proposed PMGKY Scheme Proposed on-tap voluntary disclosure scheme u/s 115BBE of Income-tax Act, 1961 1. Duration of Scheme One-Time window – Limited duration. Last date to be notified On-tap scheme to be available with effect from AY 2017-18.… Read More »