Daily Archives: January 27, 2017

GAAR provisions of Income Tax- implementation in India -CBDT Clarify

Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961 Source Ministry of Finance , 27-January, 2017 The General Anti Avoidance Rule (GAAR) provisions shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year 2017-18 onwards.  The necessary procedures for application of GAAR and conditions under which it shall not apply, have been enumerated… Read More »

Co-operative Bank considered as Co-operative Society u/s 80P of Income Tax

PCIT Vs. The Totagars Co-operative Sale Society, I.T.A. No. 100069/2016, Date of order: 05.01.2017, High Court of Karnataka Issue: Whether for the purpose of Section 80P(2)(d) of the Income Tax Act,1961, a Co-operative Bank should be considered as a Co-operative Society? Held: Yes Brief Facts: The assessee filed its return of income, and claimed a… Read More »

Sachin Tendulkar Income from Sale of Shares treated under head Capital Gain

Issue  : Whether the income on account of sale of shares and Mutual funds is Long Term Capital Gain or Short Term Capital Gain or Business income ? Held Reasoning given by the AO that the impugned income would be assessable under the head income from business merely because the assessee has availed the service of… Read More »

ICAI Discontinued OMR Examination Application Forms w.e.f May 2017

Discontinuance of OMR Examination Application Forms with effect from May, 2017 Examination onwards – (27-01-2017) Candidates of Common Proficiency Test(CPT), Intermediate (IPC) and Final examinations, until the CA exams held in November/December 2016, had the option of: a) Buying the OMR examination application forms, from the counters of the regional offices/branches of the Institute, filling… Read More »

CA Inter IPC Exam Result on 31.01.2017

The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November, 2016 is likely to be declared on Tuesday, the 31st January 2017. – (27-01-2017) The result of the Chartered Accountants Intermediate (Integrated Professional Competence) Examination held in November, 2016 is likely to be declared on Tuesday, the 31st January 2017 around… Read More »

ICAI Campus Placement Programme for new CA’s (Feb-Mar, 2017)

ICAI Campus Placement Programme Subject: Campus Placement (Feb-Mar, 2017) Programme I am happy to inform you that the Committee for Professional Accountants in Business & Industry (CPABI) of ICAI as like earlier editions, is organizing the next Campus Placement Programme for Newly Qualified Chartered as per the below mentioned schedule at 22 centres in India. Campus Interview Dates  Sl. No. Centre Dates 1 Ludhiana 22nd February, 2017 2 Baroda,… Read More »

Demonetisation related Amendments in Income Tax -Video Lecture

Demonetisation related Amendments in Income Tax and Recent changes in Penalty Provisions Published on Jan 27, 2017 0n 21.01.2017 by CA Prashanth G S Related Topics Demonetisation and Income tax Particulars Notification No Date New Taxation Bill to Tax undisclosed Income received assent of President ,  Taxation Laws (Second Amendment) Act, 2016..   15.12.2016 Pradhan Mantri… Read More »

CA Exam Books – CA Final /IPCC/ CPT Exam Books

CA Exam Books Here is the compiled list of CA Exam Books :- CA Exam Books for CA Final  CA Exam Books for Paper – 1 : Financial Reporting Student Guide On Financial Reporting For CA Final May 2017 by CA G Sekar  This Book for CA Final Exam consists of  :- 1 Complete Coverage of the… Read More »