Daily Archives: March 2, 2017

Exchange Rate of Foreign Currency w.e.f 03.03.2017

Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.12/2017-CUSTOMS (N.T.), dated 16thFebruary, 2017, except as respects things done or omitted… Read More »

Time to file revised return lapsed – Sec. 54F relief can be claimed under sec. 264

HIGH COURT OF DELHI Rajesh Kumar Aggarwal v. Commissioner of Income-tax, Delhi-VIII S. RAVINDRA BHAT AND NAJMI WAZIRI, JJ. W.P. (C) NO. 4111 OF 2014 C.M. APPEAL NO. 8240 OF 2014 JANUARY  3, 2017 Dr. Rakesh Gupta, Somil Agarwal, Rohit Kumar Gupta and Ms. Monika Ghai, Advs. for the Petitioner. Rahul Chaudhary, Sr. Standing Counsel… Read More »

6 IELTS Practice Tests – Book

6 IELTS Practice Tests by Monica Sorrenson McGraw-Hill Education 6 IELTS Practice Tests with Audio is the ideal way to sharpen skills and prepare for this high-stakes English proficiency test required for admission or hiring by hundreds of schools, multinational corporations, and government agencies worldwide. Created by a veteran IELTS teacher and grader, it offers the… Read More »

Transfer Pricing in India Since Inception To BEPS -Book

Transfer Pricing in India Since Inception To BEPS The cross-border transaction flows are increasingly being scrutinized mainly because in the present times of fiscal constraints, the tax administrations attempt to secure a wider revenue base. The dynamics of changing business structures and regulatory regimes make the analysis of transfer pricing more challenging for the taxpayers… Read More »

Parveen Sharma Advanced Accountancy for CA Inter IPCC May 2017

Parveen Sharma Advanced Accountancy for CA Intermediate (IPC) Group II for May 2017 Exams & Onwards  by CA. Parveen Sharma & CA. Kapileshwar Bhalla Price of this Book Rs 870. Click to buy this book online Description -Parveen Sharma Advanced Accountancy for CA Inter IPCC May 2017  For a thorough grasp on the subject of… Read More »

Infrastructure Lending Definition -NBFC to be guided by Govt Gazette Notifications

RBI/2016-17/242 DNBR.PD.CC.No.085/03.10.001/2016-17 March 2, 2017 All Non-Banking Financial Companies Dear Sir/ Madam, Infrastructure Financing- Definition of ‘Infrastructure Lending’ Please refer to the definition of ‘Infrastructure Lending’ contained in the Non-Banking Financial Company – Systemically Important Non-Deposit taking Company and Deposit taking Company (Reserve Bank) Directions, 2016 and Non-Banking Financial Company – Non-Systemically Important Non-Deposit taking… Read More »

Financial Literacy and rural branches – Policy Review by RBI

Financial Literacy by FLCs (Financial Literacy Centres) and rural branches – Policy Review RBI/2016-17/236 FIDD.FLC.BC.No.22/12.01.018/2016-17 March 02, 2017 To Chairman/MD & CEO Scheduled Commercial Banks (Including RRBs) Dear Sir/Madam, Financial Literacy by FLCs (Financial Literacy Centres) and rural branches – Policy Review Please refer to our circular FIDD.FLC.BC.No.18/12.01.018/2015-16 dated January 14, 2016 on guidelines for… Read More »

Category: RBI

webinar to decode section 94B -Thin Capitalization Norms- TP and GAAR

BMR Webinar on Decoding the Thin Capitalization Norms Armed with the recommendations made by the OECD in its final report on Action 4, Limiting Base Erosion Involving Interest Deductions and Other Financial Payments (BEPS Action Plan), the Finance Minister, has proposed the introduction of the Limitation of Interest deduction concept by insertion of Section 94B… Read More »

Aadhaar mandatory for final settlement of Pension claims

Furnishing of Aadhaar mandatory for final settlement of Pension claims The EPFO has clarified that obtaining of Aadhaar should be mandatory for the time being only for final settlement of Pension and not in withdrawl cases. The EPFO had extended the date of submission of Aadhaar Number authentication by the members of Employees’Pension Scheme 1995… Read More »

Indian Railways Freight and Passenger Business Action Plan -2017-18 launched

Minister for Railways inaugurates key freight sector initiatives of Indian Railways. Indian Railways Freight and Passenger Business Action Plan -2017-18 was launched today Minister of Railways Shri Suresh Prabhakar Prabhu inaugurated following key freight sector initiatives today i.e. 02-03-17 at National Rail Museum, New Delhi:- Policy of ‘Long Term Contracts’ with major customers. Indian Railways… Read More »

Shri Ajay Tyagi takes charge as Chairman, SEBI

Securities and Exchange Board of India PR No. 15/2017 Shri Ajay Tyagi takes charge as Chairman, SEBI Shri Ajay Tyagi took charge as Chairman, Securities and Exchange Board of India, today. Prior to this, Shri Tyagi was Additional Secretary, Department of Economic Affairs, Ministry of Finance, Government of India, handling the portfolios of Capital Market… Read More »

E-Flash-Union Budget 2017-18 -ICAI

The Institute of Chartered Accountants of India (ICAI) has released E-Flash on amendment proposed by Finance Bill, 2017  i.e. Union Budget 2017-18. It Contains 5 Sections below- 1. ICAI Press Release—Union Budget 2017 2. Direct Tax Proposals—Highlights 3. International Tax Proposals—Highlights 4. Indirect Tax Proposals—Highlights 5. State Of The Economy—Major Highlights ICAI Press Release— Union Budget 2017… Read More »

Reduce Tax to @ 25% on LLP, Firms, Firms Coverted into Companies, New companies – Budget 2017-18 Suggestions

Suggestions on Paragraph E of Part III to the First Schedule of Finance Bill 2017- Reduction in corporate tax rate – Reduced corporate tax rate to be applicable for erstwhile firms recently converted into companies and also LLPs and companies which were set up subsequent to F.Y.2015-16 The Finance Bill, 2017  proposes a concessional rate… Read More »

Rs 2 Lakh Interest deduction for house property held as stock-in-trade by builders? – Budget 2017-18 Suggestions

Suggestions on Clause 12 of Finance Bill 2017- Section 23(5) – Deemed Taxability of unsold stock of house property after 1 year of lying vacant – Non-applicability of restriction contained in proposed section 71(3A) The Finance Bill, 2017  proposes to insert sub-section (5) in existing section 23 to provide that where the house property consisting… Read More »

Exclude pooling vehicles like Mutual funds, AIP’s from section 115BBDA- Dividend Taxation– Budget 2017-18 Suggestion

Suggestions on Clause 44 of Finance Bill / Budget 2017- Section 115BBDA – Scope of section 115BBDA, initially restricted to individuals, HUFs and Firms, expanded –Certain pooling vehicles like Mutual funds, AIFs etc. to be exempted The Finance Act, 2016 had inserted new Section 115BBDA to tax dividend income in excess of Rs. 10 lacs… Read More »

Direct Tax Laws -Quick Referencer cum Compiler for CA Final June 2017 -Dr. Yogendra Bangar Dr. Vandana Bangar

Comprehensive Guide to Direct Tax Laws – A Quick Referencer cum Compiler for CA Final June 2017 Exam by Dr. Yogendra Bangar Dr. Vandana Bangar Also Useful for CA Final, CMA, CS & Other Professional Courses 2017 Price of this book is Rs 724. Click to buy this Book online Related Books on CA Final Exam… Read More »

Advanced Tax Laws and Practice for CS Professional June 2017 -Dr Vandana Bangar and Dr. Yogendra Bangar

Aadhya Prakashan’s Comprehensive Guide to Advanced Tax Laws and Practice for CS Professional June 2017 Exam by Dr Vandana Bangar and Dr. Yogendra Bangar This Book on Advanced Tax Laws and Practice is  Useful for CS (Final), MBA, CFA, LL.B & Other Courses Price of this book is Rs 1041. Click to buy this book online… Read More »

U.S. Master Tax Guide (2017) 100th Edition – CCH Tax Law Editors

U.S. Master Tax Guide (2017) 100th Edition by CCH Tax Law Editors The U.S. Master Tax Guide provides helpful and practical guidance on today’s federal tax law. This 100th Edition reflects all pertinent federal taxation changes that affect 2016 returns and provides fast and reliable answers to tax questions affecting individuals and business income tax. The… Read More »

Law The Doctor Must Know -2017 Edition Book

Law The Doctor Must Know (Pb 2017) by Bhatt H J  The book has 18 chapters which discuss all the medico legal sections, including the Drugs Act, landmark judgement and important bare acts, which an active medical practitioners must know. The medical practitioners, irrespective of the specialty in which they practice, should keep this handbook ready… Read More »

USA- IRS -Free Help Preparing Tax Returns Available Nationwide

Free Help Preparing Tax Returns Available Nationwide IRS YouTube Videos: Free Help Preparing Your Tax Return: English | Spanish | ASL                                                          WASHINGTON –– The Internal Revenue Service reminded taxpayers today that they may be eligible to receive free tax help at nearly 12,000 preparation sites nationwide. The sites, generally located at community and neighborhood centers,… Read More »