Daily Archives: February 28, 2017

Gratuity Exemption limit AY 2017-18 under Income Tax Act

Gratuity Exemption limit AY 2017-18 under Income Tax Act [ CIRCULAR NO. 1/2017 [F.NO. 275/192/2016-IT(B)], DATED 2-1-2017]  Death-cum-retirement gratuity or any other gratuity is exempt to the extent specified from inclusion in computing the total income under Section 10(10) of Income tax Act . Any death-cum-retirement gratuity received under the revised Pension Rules of the Central… Read More »

Carry forward of Accumulated Cenvat Credit under GST – Issue -1

Issue 1: Carry forward of Accumulated  Cenvat Credit under GST Registered taxable person shall not be allowed to take credit unless the said amount is admissible as input tax credit under CGST /SGST Act. [ provisio to section 167 of Revised Model GST Law ]  Example on Carry forward of Accumulated  Cenvat Credit under GST – Issue -1 Suppose… Read More »

Aadhaar mandatory under Deendayal Antyodaya Yojana-National Rural Livelihoods Mission – Notification

MINISTRY OF RURAL DEVELOPMENT NOTIFICATION New Delhi, the 28th February, 2017 S.O.643(E).––Whereas, the use of Aadhaar as identity document for delivery of services or benefits or subsidies simplifies the Government delivery processes, brings in transparency and efficiency, and enables beneficiaries to get their entitlements directly in a convenient and seamless manner and Aadhaar obviates the… Read More »

Regional Centre for Biotechnology Act, 2016 Comes into foce w.e.f 01.04.2017

MINISTRY OF SCIENCE AND TECHNOLOGY (Department of Biotechnology) NOTIFICATION New Delhi, the 28th February, 2017 S.O. 642 (E).— In exercise of the powers conferred by sub-section (2) of section 1 of the Regional Centre for Biotechnology Act, 2016 (36 of 2016), the Central Government hereby appoints the 1st day of March, 2017 as the date… Read More »

RBI Establishes an Inter-disciplinary Standing Committee on Cyber Security

Date : Feb 28, 2017 Reserve Bank Establishes an Inter-disciplinary Standing Committee on Cyber Security The Reserve Bank of India has set up an Inter-disciplinary Standing Committee on Cyber Security to, inter alia, review the threats inherent in the existing/emerging technology; study adoption of various security standards/protocols; interface with stakeholders; and suggest appropriate policy interventions… Read More »

Category: RBI

Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others

Change in Tariff Value of Crude Palm Oil, RBD Palm Oil, Others – Palm Oil, Crude Palmolein, RBD Palmolein, Others – Palmolein, Crude Soyabean Oil, Brass Scrap (All Grades), Poppy Seeds, Areca Nuts, Gold and Silver Notified In exercise of the powers conferred by sub-section (2) of section 14 of the Customs Act, 1962 (52… Read More »

USA- IRS Criminal Investigation Releases Fiscal Year 2016 Annual Report

IRS Criminal Investigation Releases Fiscal Year 2016 Annual Report IR-2017-47, Feb. 27, 2017 WASHINGTON — The Internal Revenue Service today announced the release of its IRS Criminal Investigation (CI) annual report, reflecting the significant accomplishments and criminal enforcement actions taken in fiscal year 2016. IRS CI initiated 3,395 cases in FY 2016 that focused on… Read More »

Category: USA

USA- IRS Can Help Taxpayers Get Form W-2

IRS Can Help Taxpayers Get Form W-2 Most taxpayers got their W-2 Forms by the end of January. Form W-2, Wage and Tax Statement, shows the income and taxes withheld from an employee’s pay for the year. Taxpayers need it to file an accurate tax return. If a taxpayer hasn’t received their form by mid-February,… Read More »

CBEC Clarification on Classification of Articles of Paper and Printing Industry

CBEC Clarification on Classification of Articles of Paper and Printing Industry under Excise Law [CBEC Circular No. 1052/01/2017-CX, Dated: February 23, 2017] Representations have been received from trade associations that consequent upon insertion of Chapter note 14 (w.e.f 28.05.2012) to the Chapter 48 of Central Excise Tariff Act, 1985 disputes have cropped up in respect… Read More »

Technical Seminar On UAE’s New Bankruptcy Law -Video

Technical Seminar On UAE’s New Bankruptcy Law The Institute of Chartered Accountants of India UAE (Dubai)Presents Technical Seminar On UAE’s New Bankruptcy Law February 27,2017 Venue:Hyatt Regency Dubai Creek Heights, Dubai Healthcare City,Dubai Keynote Speaker: Dr. Habib Al Mulla, Chairman, Baker & McKenzie Habib Al Mulla Speaker: Mr. Christian Saunders , Partner, Allen & Overy… Read More »

Handbook on Statutory Audit of Bank 2017 Edition Book -M.Siva Ram Prasad

HAND BOOK ON STATUTORY AUDIT OF BANK 2017 edition Book by M.Siva Ram Prasad Key features of This Book – Handbook on Statutory Audit of Bank 2017 Edition Statutory Central Audit. Statutory Branch Audit. Check list cum Audit Programmes. Reporting Requirements. Disclosure Requirements and Formats. Regulatory requirement of RBI. You can buy this Book for Rs… Read More »

Aadhaar Mandatory for National Career Services , Stipend to Trainees ,Persons with Disabilities

Summary ; As per the Following Notification Aadhaar has been made mandatory for persons receiving benefit under i)Scheme of “National Career Services” (hereafter ii) Scheme of “Stipend to Trainees under the Scheme of Welfare for the Scheduled Castes and the Scheduled Tribes Job-seekers through Coaching, Guidance and Vocational Training implemented by the National Career Services… Read More »