Operation Clean Money by IT Dept gets overwhelming response. More than 5.27 lakh taxpayers submitted their response till 12th February, 2017. Last date for the submission of online response extended up to 15th February, 2017. The Income Tax Department (ITD) had initiated ‘Operation Clean Money’ on 31st January, 2017 for the e-verification of large cash… Read More »
Central Government clarifies that there is no proposal in the Union Budget 2017-18 to levy 5% service tax on healthcare services The Central Government has clarified that there is NO proposal in the Union Budget 2017-18 to levy 5% Service Tax on Healthcare Services, as reported in certain Social Media circles. Source Ministry of Finance 13-February,… Read More »
IRS Guide to Free Tax Preparation Each year, programs Voluntary Aid Taxpayers (VITA) and Tax Counseling for the Elderly (TCE) help people. Through these programs sponsored by the IRS, millions of individuals of low to moderate income and their families get free help preparing your taxes. The IRS is working with local community groups to… Read More »
AEPS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.
Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit RBI/2016-17/226 DCM (Plg) No.3217/10.27.00/2016-17 February 13, 2017 The Chairman / Managing Director/ Chief Executive Officer (All banks maintaining currency chests) Dear Sir / Madam, Deposit of Specified Bank Notes (SBNs) – Chest Balance Limit / Cash Holding Limit Please refer to… Read More »
Press Release ICAI elects New Torch-Bearers for the year 2017-18 The Institute of Chartered Accountants of India (ICAI) is a statutory body established by the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountants in India. The affairs of the ICAI are managed by the Council in accordance with the provisions… Read More »
Increase in Entrance, Annual Membership, COP and Restoration Fee [TO BE PUBLISHED IN PART III, SECTION 4 OF THE GAZETTE OF INDIA, EXTRAORDINARY DATED, 9TH FEBRUARY, 2017] THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA New Delhi, the 9th February, 2017 NOTIFICATION No.1-CA(7)/179/2017:- In exercise of the powers conferred under sub-section (3) of section 4 and… Read More »
Interest on refund due to deductor on excess TDS deducted [Section 244A of Income Tax Act – Applicable from Assessment Year 2017-18] Relevant extract of Budget Speech of union Budget 2017-18 on 01.02.2017 ( Annex III to Part B of Budget Speech ) Para 2.18. It is proposed to provide for grant of interest in case of… Read More »
Professionals allowed to pay advance tax in single installment [Section 211 and 234 of Income tax Act – Applicable from Assessment Year 2017-18 ] Relevant extract from Budget Speech on Union Budget 2017-18 on 01.02.2017 171. Last year, I had announced a new scheme for presumptive taxation for professionals with receipt upto Rs. 50 lakhs… Read More »
Stay Orders, Temporary Injunctions and Interlocutory Orders – 2017 by K.M. Sharma Contents of this book –Stay Orders, Temporary Injunctions and Interlocutory Orders 1. Balance Of Convenience 2. Bank Guarantee 3. Considerations For Injunction 4. Discretion of Court 5. Disobedience of Injunction 6. Duty of Court 7. Equity 8. Ex-Parte Injunction 9. For Grant Of Injunction… Read More »