History of Taxation Pre – 1922 “It was only for the good of his subjects that he collected taxes from them, just as the Sun draws moisture from the Earth to give it back a thousand fold” ––Kalidas in Raghuvansh eulogizing KING DALIP. It is a matter of general belief that taxes on income and wealth… Read More »
Extension of the Last date for submission of online application for empanelment of Chartered Accountants firms/LLPs with O/o C&AG for the year 2017-18. – (15-02-2017) Considering the difficulties faced by Chartered Accountant firms/LLPs in submitting the online empanelment for audit of PSUs for the year 2017-18, the office of C&AG at the request of ICAI… Read More »
Foreign Investments in India (Updated as on February 13, 2017) These FAQs attempt to put in place the common queries that users have on the subject in an easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred… Read More »
Pensions can submit Jeevan Pramaan Patra Digitally by 31.03.2017 : EPFO No Pension -1/17(1)/2016/Jeevan Pramaan/31402 Dated 15.02.2017 Download Complete Circular of EPFO on Pensioners can submit Jeevan Pramaan Patra Digitally by 31.03.2017
Time for a New Tax Calendar Watch the online webinar and learn how to use the 2017 IRS Tax Calendar for Businesses and Self-Employed to: Track federal tax due dates on a computer or mobile device Customize the online tax calendar Access the Desktop Calendar tool or IRS CalendarConnector
Indian subsidiary of Dutch holding company not “ permanent establishment ” in India The Delhi Bench of the Income-tax Appellate Tribunal held that an Indian subsidiary of the taxpayer—a Dutch group holding company, engaged in selling storage system equipment and products (including embedded software) and rendering certain services in India—is not a permanent establishment under provisions of the… Read More »
Tax treatment of payments for bandwidth on underwater sea cable The Delhi Bench of the Income-tax Appellate Tribunal held that payments received by the taxpayer (operating a call center) for bandwidth connectivity charges are not taxable as royalty payments or as “fees for technical services” under provisions of the Income-tax Act, 1961 or the India-United States income… Read More »
Exemptions expedited under employee deposit-linked insurance plan The Employees’ Provident Fund Organisation issued guidance concerning applications for expedited employee deposit-linked insurance exemptions. Read a February 2017 report [PDF 328 KB] of KPMG
RBI/2016-17/233 A. P. (DIR Series) Circular No.31 February 16, 2017 To All Authorised Dealer Category – I Banks Madam/Sir Issuance of Rupee denominated bonds overseas – Multilateral and Regional Financial Institutions as Investors Attention of Authorised Dealer Category-I (AD Category-I) banks is invited to paragraph No. 4 of A. P. (DIR Series) Circular No. 60… Read More »
RBI/2016-17/232 FMRD.DIRD.13/14.01.019/2016-17 February 16, 2017 To, All Market Participants Madam/Sir, Forward Rate Agreement (FRA) and Interest Rate Swap (IRS) – Withdrawal of Fortnightly return Attention is invited to the RBI notification ref. no. MPD.BC.187/07.01.279/1999-2000 dated July 07, 1999. As per the notification, banks were advised to submit a fortnightly return on FRA/IRS to Monetary Policy… Read More »