Daily Archives: March 4, 2017

Bank Audit Book 2017-Practical Guide for Bank Auditors (3rd Edition 2017) -Taxmann

Bank Audit – A Practical Guide for Bank Auditors (3rd Edition 2017) by CA Anil K. Saxena (Author) Incorporating: Changes in prudential norms post demonetization Branch audit of demonetization Practical guidance on NPA identification including Agricultural loans Comprehensive Branch Audit Programme FY 2016-17 Detailed guidance on finacle and BaNCS Guidance on Stock Audit Updated with latest… Read More »

GST Council Approved CGST and IGST Bill

Goods and Services Tax GST) Council approves the Central Goods and Services Tax (CGST) Bill and the Integrated Goods and Services Tax (IGST) Bill. The Goods and Services Tax GST) Council, in its meeting held today in Vigyan Bhawan in New Delhi under the Chairmanship of the Union Minister for Finance & Corporate Affairs, Shri Arun… Read More »

Category: GST

Foreign Tax Credit Dispute settlement – Clarify rectification time limit & documents – Budget 2017-18 Suggestions

Suggestion on Clause 62 of Finance Bill 2017– Claim of Foreign Tax Credit (FTC) pertaining to taxes which are under dispute in the foreign country – Clarification required on certain issues relating to period of limitation and documents which shall constitute evidence of settlement Section 155(14A) proposes to provide that where the payment of foreign… Read More »

Reason to believe to conduct search must be retained – Budget 2017-18 Suggestions

Suggestion on Clause 50 & 51 of Finance Bill 2017- Section 132(1), 132(1A) and 132A(1) – reason to believe to conduct a search, etc. not to be disclosed –retention of existing provisions to reduce undue hardship to genuine assessee It is proposed to insert an Explanation to section 132(1), 132(1A) and 132A(1) to declare that… Read More »

194IB TDS on what portion of Rent ? if rent increased to 50000 p.m during the year – Budget 2017-18 Suggestions

Suggestions on Clause 63 of Finance Bill 2017 – Section 194-IB – Requirement of tax deduction at source by individuals/HUFs paying monthly rent exceeding Rs.50,000 – Enabling measures to facilitate ease of compliance to be introduced & issue of clarification regarding the amount on which tax has to be deducted at source in a situation… Read More »

Clarify whether MAT credit can be carry forward if 10 year period lapsed – Budget 2017-18 Suggestions

Suggestion on Clause 46(a) of Finance Bill 2017– Section 115JAA – Extension of period of carry forward of MAT credit from 10 years to 15 years – Clarity regarding carry forward and set off of MAT credit in cases where the ten year period has expired on or before AY 2016-17 but the fifteen year… Read More »

Define penny stock and expand Exemption list u/s 10(38) – Budget 2017-18 Suggestions

Suggestions on Clauses 6 of Finance Bill 2017 – Section 10(38) – Exemption of long term capital gains subject to payment of STT on acquisition – bona fide transactions to be notified by the Central Government for exemption even if STT not paid on acquisition Section 10(38) of the Income-tax Act, 1961, inter alia, provides… Read More »

How foreign tax credit availment in India will be difficult form AY 2018-19 due to reduction in time limit for filing revised return

Suggestion on Clause 55 of Finance Bill 2017- Section 139(5) – Reduction in time limit for filing revised return – Retention of existing time limit for filing of revised tax return at least in cases of claim of foreign tax credit. The Finance Bill 2017 proposes to amend section 139(5) to provide that the time… Read More »

Agricultural income Definitions in India

Agricultural income Agricultural income- Under article 366(1) of the Constitution of India 1950 366. In this Constitution, unless the context otherwise requires, the following expressions have the meanings hereby respectively assigned to them, that is to say— (1) ” agricultural income ” means agricultural income as defined for the purposes of the enactments relating to… Read More »

No Insolvency on Non payment of assured Return by Builder till delivery of Flat as it is not Financial debt

Issue According to the terms of Memorandum of Understanding, the Respondents were required to build and deliver possession of the unit within two years from the date of execution of the MOU. The Memorandum of Understanding, however, stipulated payment of Rs.82,214/- per month as its “Assured Returns” with effect from 30.10.2012 till the possession of… Read More »

Book – Environment (Protection) Act 1986 (Lawmann’s) -2017 Edition

 Environment (Protection) Act 1986 (Lawmann’s) -2017 Edition Contents : 1. Environment (Protection) Act 1986 2. Prevention Control and Abatement of Environmental Pollution 3. Miscellaneous 4. Procedure for Recycling 5. Reprocessing or Reuse of Hazardous Wastes Bio-Medical Waste (Management and Handling) Rules 1998 6. Manufacture 7. Storage and Import of Hazardous Chemicals Rules 1989 8. Batteries… Read More »

Book on Wild Life (Protection) Act 1972 (Lawmann’s) -2017 Edition Book

Wild Life (Protection) Act 1972 (Lawmann’s) Contents: 1. Wild Life (Stock Declaration) Central Rules 1973 2. Wild Life (Transactions and Taxidermy) Rules 1973 3. Wild Life (Protection) Licensing (Additional Matters for Consideration) Rules 1983 4. Wild Life (Protection) Rules 1995 5. Wild Life (Specified Plants-Conditions for Possession by Licensee) Rules 1995 6. National Zoo Policy… Read More »

Book on Drugs and Cosmetics Act 1940 -Lawmann’s -2017 Edition

  Drugs and Cosmetics Act, 1940 (Lawmann’s) Contents: 1. The Drugs And Cosmetics Act 1940 The Drugs Technical Advisory Board 2. The Central Drugs Laboratory And The Drugs Consultative Committee Import of Drugs And Cosmetics Manufacture 3. Sale And Distribution Of Drugs And Cosmetics Provisions Relating To Ayurvedic 4. Siddha And Unani Drugs Miscellaneous The… Read More »

Migration of Service Tax Assessees to GST – Email to Taxpayers by CBEC

OFFICE OF THE PRINCIPAL COMMISSIONER  SERVICE TAX II, MUMBAI 13th Floor, Air India Building, Nariman Point, Mumbai-400 021. F.No.ST2/Dn X/GST/47/2016-17 Mumbai, the  Dated: 02nd March’ 2017 Sir/Madam, Subject: – Migration of Service Tax Assessees to GST: – Reg. As you are aware that, the process of migration of the existing Service Tax assesses to GSTN… Read More »

Book on Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act 2002 by Lawmann -2017 edition

Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 by Lawmann (Author) Bare act with Short Notes and Case Laws 1. Alongwith Recovery of Debts Due to Banks and Financial Institutions Act 1993. 2. Debts Recovery Tribunal (Procedure) Rules 1993. 3. Debts Recovery Appellate Tribunal (Procedure) Rules 1994. 4. Change in or… Read More »

Book on Motor Vehicles Act 1988 (Lawmann’s) 2017 Edition

Motor Vehicles Act 1988 (Lawmann’s) 2017 Edition **Motor Vehicles Act, 1988 **Licensing of Drivers of Motor Vehicles **Licensing of Conductors of Stage Carriages **Registration of Motor Vehicles **Control of Transport Vehicles **Special Provisions Relating to State Transport Undertakings **Construction, Equipment and Maintenance of Motor Vehicles **Control of Traffic **Motor Vehicles Temporarily Leaving or Visiting India **Liability… Read More »

Book on Constitution of India 1950 (Lawmann’s) 2017 Edition

Constitution of India 1950 (Lawmann’s)  2017 Edition The Constitution of India **As amended by [Constitution (Ninety-eighth Amendment) Act, 2012] **Part-1-The Union and Its Territory **Part-II-Citizenship **Part-III-Fundamental Rights **Right to Equality **Right to Freedom **Right Against Exploitation **Right to Freedom of Religion **Cultural and Educational Rights **Saving of Certain Laws **Right to Constitution Remedies **Part IV-Directive… Read More »

Right to Fair Compensation Act 2013 – Lawmann Book -2017 Edition

Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement Act 2013 (Lawmann’s) Contents Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013] **New Land Acquisition Act **Determination of Social Impact and Public Purpose **A-Preliminary Investigation for Determination of Social Impact and Public Purpose **Special Provision to Safeguard… Read More »

NDA & Navel Academy Entrance Examination 2017 Book

Pathfinder for NDA & NA Entrance Examination National Defence Academy/Naval Academy Conducted by UPSC by Arihant Experts (Author) The Union Public Service Commission (UPSC) conducts the National Defence Academy (NDA) and Naval Academy (NA) entrance examination for recruiting male Indian nationals to the Army, Navy and Air Force Wings of the NDA and Indian Naval Academy… Read More »

Self Study Guide Book BBA/BBS/BBM Entrance Examination 2017

Self Study Guide BBA/BBS/BBM Entrance Examination 2017 by Arihant Experts Different national and regional universities/institutions like AIMA-UGAT, Delhi University, Symbiosis Pune, GGSIPU, Jamia Millia, etc. conduct BBA (Bachelor of Business Administration), BBS (Bachelor of Business Studies) and BBM (Bachelor of Business Management) Entrance Examinations. This book has been designed for the aspirants preparing for BBA/BBS/BBM Entrance… Read More »

Business Statistics Book -J.K Thukral- B.com (Hons.) -4th Edition 2016

Business Statistics- B.com (Hons.) [Choice Based Credit System (CBCS)] (4th Edition, July 2016) Paperback – 2016 by Dr. J.K Thukral (Author) An Authentic And Comprehensive Text Book On business Statistics [Generic Elective In Commerce].[Three Years (6-Semester) CBCS Programme Of Central Universities Throughout India] Price Rs 695. Click to buy online Paperback: 884 pages Publisher: Taxmann Publications… Read More »

Liaison office of overseas taxpayer is permanent establishment (PE) in India

The Delhi Bench of the Income-tax Appellate Tribunal held that the liaison office of an overseas taxpayer group constitutes a fixed place permanent establishment (PE) in India under the provisions of the India-United States income tax treaty. The tribunal noted that the activities conducted by the company, from the liaison office premises, were substantial and… Read More »

Manual of Non-Banking Financial Companies – 16th edition 2017 Book- by Bharats

Manual Of Non-Banking Financial Companies [2017 edition] by Bharats This Book has 908 pages and contains Non Banking Financial Companies — Master Directions Directions for Mortgage Companies/ Core Investment Companies/ Standalone Primary Dealers Master Direction on Money Market Instruments: Call/Notice Money Market, Commercial Paper, Certificates of Deposit and Non-Convertible Debentures (original maturity up to one year) Advertisement… Read More »