Daily Archives: February 3, 2017

Submit CA Examination Application forms on-line – ICAI

By | February 3, 2017

ICAI Announcement 2nd February 2017 For the attention of candidates of CA examinations Submission of CA Examination Application forms on-line It is hereby informed that sale and submission of physical i.e. OMR examination application forms have been discontinued with effect from May 2017 examination onwards. Henceforth, all candidates will be required to submit examination application… Read More »

GST Video – Registration Law & Procedures (Including Transition)

By | February 3, 2017

Registration Law & Procedures (Including Transition) Published on Feb 2, 2017 Registration Law & Procedures (Including Transition) Related Post on GST Free Video GST Video- Brief Concept of Model GST Law ( CGST, SGST & IGST) (1st Technical session) GST Video – Levy & Composition (2nd Technical Session) GST Video- Valuation of Taxable Supply &… Read More »

Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations 2017

By | February 3, 2017

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 30th January, 2017 Insolvency and Bankruptcy Board of India (Engagement of Research Associates and Consultants) Regulations, 2017 IBBI/2016-17/GN/REG006.—In exercise of the powers conferred by section 240 read with section 194 of the Insolvency and Bankruptcy Board of India Code, 2016 (No. 31 of 2016), the… Read More »

Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) Regulations 2017

By | February 3, 2017

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 30th January, 2017 Insolvency and Bankruptcy Board of India (Procedure for Governing Board Meetings) Regulations, 2017 IBBI/2016-17/GN/REG007.— In exercise of the powers conferred by section 192(1) read with section 240 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India hereby… Read More »

Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations 2017

By | February 3, 2017

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 30th January, 2017 Insolvency and Bankruptcy Board of India (Advisory Committee) Regulations, 2017 IBBI/2016-17/GN/REG008.—In exercise of the powers conferred by section 197 read with section 240 of the Insolvency and Bankruptcy Code, 2016, the Insolvency and Bankruptcy Board of India hereby makes the following regulations,… Read More »

Use of Bitcoins

By | February 3, 2017

Use of Bitcoins Promotion of Digital economy is in integral part of Government’s strategy to clean the system and weed out corruption and black money. The earlier initiatives of the Government to promote financial inclusion and the Jan Dhan-Aadhaar-Mobile (JAM) trinity were important pre-curser. However, RBI has cautioned the users, holders and traders of Virtual… Read More »

India’s foreign exchange reserves

By | February 3, 2017

Utilisation of Foreign Exchange Reserves India’s foreign exchange reserves (FER) increased from US$ 341.6 billion at end March 2015 to US$ 360.2 billion at end March 2016 and US$ 360.8 billion as on 20th January 2017. India’s foreign exchange reserves (FER) comprise foreign currency assets, gold, Special Drawing Rights (SDRs) and Reserve Tranche Position (RTP)… Read More »

Demonetisation – 14 Bank Branches suspended employees for irregular exchange transaction

By | February 3, 2017

Money Credited in Bank Accounts Reserve Bank of India (RBI) has advised the banks vide in circular Ref. No.DBS.CO.PPD / 4220/11.01.005/2016-17 dated November 29, 2016 to take action to prevent / detect / contain the malpractices or wrongdoing by staff in branches exchange / deposit of Specified Bank Notes (SBN). The banks were also advised… Read More »

India to Revise tax treaties with partner countries to use data for prosecution

By | February 3, 2017

Revise the tax treaties with partner countries to enable the CBI and ED to use the data for prosecution Government is contemplating to revise the tax treaties with partner countries to enable the Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) to use the data for prosecution of those who have stashed black money… Read More »

Tax Relief under GST

By | February 3, 2017

Tax Relief under GST All decisions of GST Council so far have been taken unanimously. Various states may have different points of view on an issue but the final decisions have been unanimous. The issue regarding treatment of the existing tax incentive schemes of the Central and State Governments was discussed during the 2nd Meeting… Read More »

Category: GST

Total direct tax collections up to 16th January 2017 amount to Rs. 5.76 lakh crore

By | February 3, 2017

Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore; the Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore Total direct tax collections up to 16th January 2017 amount to Rs. 5,76,408 crore. For the financial year 2017-18, the Budget Estimates fixed for direct taxes are Rs. 9,80,000 crore.… Read More »

GST Video- Import Export, SEZ, Refund (Including Transition)

By | February 3, 2017

Import Export, SEZ, Refund (Including Transition) Published on Feb 2, 2017 Import Export, SEZ, Refund (Including Transition) Related Post on GST Free Video GST Video- Brief Concept of Model GST Law ( CGST, SGST & IGST) (1st Technical session) GST Video – Levy & Composition (2nd Technical Session) GST Video- Valuation of Taxable Supply &… Read More »

GST Video -ITC including Matching Concept & Transition, ISD & Anti-Profiteering

By | February 3, 2017

ITC including Matching Concept & Transition, ISD & Anti-Profiteering Published on Feb 2, 2017 ITC including Matching Concept & Transition, ISD & Anti-Profiteering Related Post on GST Free Video GST Video- Brief Concept of Model GST Law ( CGST, SGST & IGST) (1st Technical session) GST Video – Levy & Composition (2nd Technical Session) GST… Read More »

GST Video – Offences & Penalties, Prosecution & Compounding and Advance Ruling

By | February 3, 2017

Offences & Penalties, Prosecution & Compounding and Advance Ruling Related Post on GST Free Video GST Video- Brief Concept of Model GST Law ( CGST, SGST & IGST) (1st Technical session) GST Video – Levy & Composition (2nd Technical Session) GST Video- Valuation of Taxable Supply & Valuation Rules (3rd technical session) GST Video -Place… Read More »

Cenvat Law & Practice Finance Bill 2017 Edition Book by V.S. Datey

By | February 3, 2017

Cenvat Law & Practice – Finance Bill 2017 Edition (31st Edition, 2017) by V.S. Datey  Cenvat Law & Practice – Finance Bill 2017 Edition Book contains Comprehensive Commentary on Law relating to Cenvat Also Incorporating: Comprehensive Case Laws Coverage Department Instructions Guide to Procedures Documentation You can buy this Book for Rs 1076. Click to buy this… Read More »

Service Tax Ready Reckoner – Finance Bill 2017 Edition Book

By | February 3, 2017

Service Tax Ready Reckoner- Finance Bill 2017 Edition by V.S. Datey Service Tax Ready Reckoner – Finance Bill 2017 Edition :- Author : V.S. Datey Edition : 28th Edition 2017 Date of Publication : February 2017 No. Of Pages : 1040 You can buy this Book for Rs 1256.Click to Buy this Book Online . It has 1040… Read More »

Disallowance of cash payments for capital Asset / expenditure w.e.f 01.04.2017

By | February 3, 2017

No cash payments for capital Asset / capital expenditure Summary  :As per Finance Bill 2017  w.e.f 01.04.2017 i.e FY 2017-18 (AY 2018-19)  it has been proposed that any cash payments of capital expenditure above Rs 10,000 shall not be considered to determine actual cost of asset under Section 43(1). Similarly, no deductions shall be available under… Read More »

Tax-exemption to partial withdrawal from National Pension System w.e.f AY 2018-19

By | February 3, 2017

Tax-exemption to partial withdrawal from National Pension System (NPS) The existing provision of section 10(12A) provides that payment from National Pension System (NPS) trust to an employee on closer of his account or opting out shall be exempt up to 40% of total amount payable to him. In order to provide further relief to an… Read More »

Set-off of loss from House property restricted w.e.f AY 2018-19

By | February 3, 2017

Restriction on set-off of loss from House property Summary : As per Finance Bill 2017  w.e.f FY 2017-18 (AY 2018-19)  Section 71 of Income tax Act is proposed to be amended to restrict the set-off of loss under the head ‘Income from house property’, in any assessment year against any other income, up to Rs 2,00,000. The… Read More »

Higher Tax Rate for not giving PAN by Collectee for TCS w.e.f 01.04.2017

By | February 3, 2017

PAN by Collectee for TCS compliance Summary : -As per Finance Bill 2017  w.e.f 01.04.2017  i.e  FY 2017-18 (AY 2018-19) Any person paying any sum or amount, on which tax is collectable at source under Chapter XVII BB (hereafter referred to as collectee) shall furnish his Permanent Account Number to the person responsible for collecting such tax (hereafter… Read More »

Income tax rebate under Section 87A w.e.f AY 2018-19

By | February 3, 2017

Rebate allowable under Section 87A of Income tax Act Summary :– The rebate of Rs. 5,000 currently available under section 87A in case of an individual resident in India whose total income does not exceed Rs. 5,00,000,Finance Bill 2017  proposed to be reduced to Rs. 2,500, where the total income does not exceed Rs. 3,50,000… Read More »

234F- Fee for delayed filing of Income tax return w.e.f AY 2018-19

By | February 3, 2017

Section 234F -Fee for delayed filing of Income tax return Summary : As per Finance Bill 2017  w.e.f FY 2017-18 (AY 2018-19)  new section 234F is proposed to be inserted to provide for levy of fees for late filing of return after the due date. Rs. 5,000 would be levied for return filed after the due… Read More »

GST Video – Time of Supply of Service under Revised Model GST Law -Session 3

By | February 3, 2017

This is the 3rd session of Revised Model GST Law Knowledge series. This session contains “Time of Supply of Services under Revised Model GST Law” Click to Buy Book by  CA Avinash Poddar – Glimpses of GST Watch Session 2 GST Video -Time of Supply of Goods under Revised Model GST Law- Session 2 Related Post on GST… Read More »

GST Video -Time of Supply of Goods under Revised Model GST Law- Session 2

By | February 3, 2017

Time of Supply of Goods under Revised Model GST Law by CA Avinash Poddar This is the second session of Revised Model GST Law Knowledge series. This session contains “Time of Supply of Goods under Revised Model GST Law” Click to Buy Book by  CA Avinash Poddar – Glimpses of GST Related Post on GST Free Video GST… Read More »

Financial Reporting Book For CA Final by G Sekar

By | February 3, 2017

Padhuka’s Student Guide On Financial Reporting For CA Final May 2017 by CA G Sekar (Author) This Financial Reporting Book For CA Final Contains :-  1 Complete Coverage of the CA Final Syllabus. 2 Content Update on Schedule III with more Practical Questions. 3 Summary of all Accounting Standards. 4 Summary of Comparison with IFRS / US… Read More »

Advanced Auditing & Professional Ethics book for CA Final

By | February 3, 2017

Advanced Auditing & Professional Ethics (CA-Final) (May 2017 Exams) (8th Edition 2017) Description of this book on Advanced Auditing & Professional Ethics for CA-Final Exam by CA Pankaj Garg (Author)  Revised and New Standards on Auditing – 260,570,610,700,701,705 & 706 Companies (Accounts) Amendment Rules,2016 Companies (Cost Records and Audit) Amendment Rules,2016 Companies ( Accounting Standards) Amendment… Read More »

Strategic Financial Management Book for CA Final by Dr. J B Gupta

By | February 3, 2017

Strategic Financial Management (CA-Final) (9th Edition,June 2016)  – 2016 by Dr. J B Gupta This book on Strategic Financial Management for CA-Final Incorporates:- All important fully solved theoretical and practical questions of past 46 CA Final exams (Including May .2016) 730 fully solved practical problems are also included in the book You can buy this book for… Read More »

Law of Contract (Set of 2 Vols.) – 2017 -Book by M J Aslam

By | February 3, 2017

Law of Contract (Set of 2 Vols.) – 2017 Law of Contract (Set of 2 Vols.) – 2017 by M J Aslam (Author) Book incorporates :- VOLUME-1: (1) Of Communication, Acceptance & Revocation; (2) Of Contracts, Voidable Contracts & Void Contracts; (3) Of Contingent Contracts; (4) Of Performance of Contracts, Contracts which must be performed; VOLUME-2:… Read More »

Risk Management and Inter-bank Dealings – RBI Permitted NRI access to ETCD

By | February 3, 2017

Risk Management and Inter-bank Dealings: Permitting Non Resident Indians (NRIs) access to Exchange Traded Currency Derivatives (ETCD) market RBI/2016-17/221 A.P. (DIR Series) Circular No. 30 February 2, 2017 To All Category – I Authorised Dealer Banks Madam / Sir, Risk Management and Inter-bank Dealings: Permitting Non Resident Indians (NRIs) access to Exchange Traded Currency Derivatives… Read More »

Category: RBI

Basel III Capital Regulations- Additional Tier 1 Capital-RBI amendment

By | February 3, 2017

Basel III Capital Regulations- Additional Tier 1 Capital RBI/2016-17/222 DBR.BP.BC.No.50/21.06.201/2016-17 February 02, 2017 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Madam/ Sir, Basel III Capital Regulations- Additional Tier 1 Capital Please refer to the paragraph 1.8 on ‘Coupon Discretion’ under Annex 4 on ‘’Criteria for Inclusion of Perpetual Debt Instruments (PDI) in Additional Tier… Read More »

Category: RBI