Daily Archives: February 9, 2017

Certificates of appreciation to tax payers by Income Tax Dept – 3rd Round

By | February 9, 2017

CBDT issues third round of Certificates of appreciation to tax payers for their contribution towards Nation building. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 7th February, 2017. In continuation of the initiative of the Government to acknowledge the contribution of tax payers by paying taxes towards… Read More »

Interest rates for Small Savings Schemes -Q4-FY 2016-17

By | February 9, 2017

RBI/2016-17/225 DGBA.GAD.2012/15.02.005/2016-17 February 9, 2017 The Chairman/Chief Executive Officer Agency Banks handling Public Provident Fund, Kisan Vikas Patra- 2014, Sukanya Samriddhi Account, Senior Citizen Savings Scheme-2004 Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GAD.881/15.02.005/2016-17 dated October 13, 2016 on the above subject. The Government of India, had vide their… Read More »

Category: RBI

Labour Laws -Jan 2017 edition Book by Taxmann

By | February 9, 2017

  Labour Laws (Jan 2017 edition) – 2017 by Taxmann  Description of  Labour Laws 2017 Edition It contains followings Apprentices Act 1961 Child and Adolescent Labour (Prohibition and Regulation) Act 1986 Contract Labour (Regulation and Abolition) Act 1970 Employees Compensation Act 1923 Employees Provident Funds and Miscellaneous Provisions Act 1952 Employees State Insurance Act 1948 Employment… Read More »

No TCS on sale of jewellery w.e.f 01.04.2017

By | February 9, 2017

TCS on sale of jewellery Summary :  TCS @ 1%  required to be deducted on sale of Jewellery exceeding Rs 5,00,000/- in cash. However as per Finance Bill 2017 w.e.f 01.04.2017 this Provision  of deduction of TCS on sale of jewellery  is to be abolished. Reasons for no TCS on sale of Jewellery from 01.04.2017:  As… Read More »

Bills passed in First Part of Budget Session 2017 of Parliament

By | February 9, 2017

First Part of Budget Session, 2017 of Parliament concludes The Budget Session, 2017 of Parliament commenced on Tuesday, 31st January, 2017 and subject to exigencies of government business, will be adjourned sine die on Wednesday, 12th April, 2017.  Both the Houses have been adjourned for recess for a period of 27 days on Thursday, 9th… Read More »

56 POPSKs – Post Office Passport Seva Kendras

By | February 9, 2017

Opening of the first batch of new Post Office Passport Seva Kendras The Ministry of External Affairs (MEA) and the Department of Posts (DOP) announced on 24 January, 2017 their decision to utilize the Head Post Offices (HPO) in the various States as Post Office Passport Seva Kendra (POPSK) for delivering passport related services to… Read More »

Exemption from TCS to certian Buyers of Motor Vehicle >Rs 10 Lakh w.e.f 01.04.2017

By | February 9, 2017

  Exemption from tax collection at source under sub-section (1F) of section 206C in case of certain specified buyers. The existing provision of sub-section (1F) of section 206C of the income tax Act, inter-alia provides that the seller who receives consideration for sale of a motor vehicle exceeding ten lakh rupees, shall collect one per… Read More »

P Chidambaram’s remarks| Discussion on Union Budget( 2017-18) in Rajya Sabha

By | February 9, 2017

Sh. P Chidambaram’s remarks| Discussion on Union Budget( 2017-18) in Rajya Sabha Books on Budget 2017-18 Taxmann’s Budget 2017-18 -Book Budget 2017-18- Notifications on Central Excise , Customs and Service tax – New Book Ajit Prakashan’s Union Budget 2017-18 -New Book BDP’s Customs Law Manual (2017-18 Budget Editon with CD) -New Book Related Post on… Read More »

Assessing Officer need not disclose reasons for search

By | February 9, 2017

Reason to believe to conduct a search, etc. not to be disclosed Sub-section (1) and (1A) of section 132 provide that where an authority mentioned therein, based on the information in his possession, has ‘reason to believe’ or ‘reason to suspect’ of circumstances referred to in the said sub-sections, he may authorize an authority specified… Read More »

No capital gain tax on capital contribution made in partnership firm by Partners

By | February 9, 2017

Facts of the case On 2nd May, 1979, the applicant assessee converted certain plots of land and shares hitherto held as investments into its stock in trade. On 8th May, 1979, the applicant assessee entered into the partnership firm with six others to trade in land, stock and shares by executing a partnership deed. The… Read More »

Income Tax & Indirect Taxes – Hindi Book- for CA Inter (IPC) May 2017 Exam

By | February 9, 2017

Income Tax & Indirect Taxes – Hindi Book- for CA Inter (IPC) May 2017 Exam This Hindi book of Systematic Approach to Taxation Income Tax & Indirect Taxes  by Dr. Girish Ahuja (Author), Dr. Ravi Gupta is Useful for CA Inter (IPC) May 2017 Exam : Paper 4 & Other Specialised Studies. You can buy this… Read More »

Guidelines for Seizure of Custom Goods by CBEC

By | February 9, 2017

F.No. 591/04/2016-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) *** Instruction no. 01/2017-Customs New Delhi, dated 8th February, 2017 To All Principal Chief Commissioners/ Chief Commissioners of Customs/Customs (Preventive), All Principal Chief Commissioners/ Chief Commissioners of Customs & Central Excise. All Principal Directors General… Read More »

Law Dictionary with Words & Phrases, Legal Maxims & Latin Terms – Book

By | February 9, 2017

P Ramanatha Aiyar’s Advanced Law Lexicon – The Encyclopaedic Law Dictionary with Words & Phrases, Legal Maxims & Latin Terms (Set of 4 Volumes) This encyclopedic essential reference work covers over 75, 000 entries containing all statutory and judicial definitions of key standard legal words, maxims and phrases • The work also includes: – Entries… Read More »