Monthly Archives: January 2017

Taxmann books for CS executives [ Latest Editions of books ]

By | January 31, 2017

Taxmann books for CS executives we have compiled list of Taxmann books for CS executives Economic & Commercial Laws [CS- Executive] (4th Edition 2017) by Tejpal Sheth (Author) Covering : Tabular presentation of theory, All Fully solved theoretical and practical questions of last 25 exams (including December 2016), Approx. 750 questions with hints You can buy this… Read More »

Benami Property -Income tax authorities issued 87 notices , attached 42 properties

By | January 31, 2017

Income tax authorities have begun a multi-city crackdown against black money under the new stringent Benami law, having attached 42 properties worth crores of rupees and issued 87 notices over the last couple of days. The I-T department has also sent notices to the famous Bhajiawala from Surat who was recently raided by the tax… Read More »

OIDAR Service Tax Payment Date for Dec 16 and Jan 17 Extended

By | January 31, 2017

NOTIFICATION New Delhi, the 30th January, 2017 No. 6/2017-Service Tax G.S.R. 73(E).—In exercise of the powers conferred by sub-section (1), read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994,namely:- 1. (1) These rules… Read More »

Quick Reference Guide for Online Verification of Cash Deposits

By | January 31, 2017

Quick Reference Guide for Online Verification of Cash Deposits during 9th November to 30th December 2016 Data analytics has been used for comparison of demonetisation data with information in ITD databases to identify taxpayers wherein the cash transaction does not appear to be in line with the taxpayer profile. Email and SMS will be sent… Read More »

Online Verification of Cash Deposits during 9th Nov to 30th Dec 2016 -User Guide – Cash Transactions 2016

By | January 31, 2017

User Guide for Online Verification of Cash Deposits during 9th Nov to 30th Dec 2016 Income Tax Department released procedure for Online Verification of Cash Deposits during 9th Nov to 30th Dec 2016 -User Guide 1. Background Income Tax Department (ITD) intends to leverage technology and data analytics for effective utilization of demonetisation data i.e. transactions… Read More »

Compensation paid for use of pirated software is not penalty, allowable Expenses u/s 37 of Income tax

By | January 30, 2017

Issue : Whether the compensation paid of Rs. 23,33,278/- to Microsoft Corporation, USA was allowable as a deduction in view of explanation to Section 37(1). Held by CIT (appeals ) :- Compensation paid by the assessee company to Microsoft Corporation was for infringement of the Copyright Act and therefore, the said payment was for an… Read More »

India Post Payments Bank – Saving Account charges and features

By | January 30, 2017

India Post Payments Bank – Saving Account charges and features IPPB – Schedule of Charges (Tariffs are excluding applicable taxes) Banking Services for Everybody: IPPB offers 3 distinct accounts, tailored to suit the requirements of people everywhere. Regular Account – Safal Basic Savings Bank Deposit Account (BSBDA) – Sugam BSBDA Small – Saral ​ While… Read More »