Daily Archives: April 26, 2017

Draft GST Returns Rules – March 2017 Released by CBEC

Chapter – RETURNS Following are Draft GST Returns Rules Released by CBEC in March 2017 1. Form and manner of furnishing details of outward supplies Every registered person required to furnish the details of outward supplies of goods or services or both under section 37, shall furnish such details in FORM GSTR-1 electronically through the Common… Read More »

Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers

Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers – (26-04-2017) Following is the Exposure Draft of Clarifications to Ind AS 115, Revenue from Contracts with Customers, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. The Board invites comments on any aspect of… Read More »

ICAI reduced marks required for passing ISA AT Test

Requirements for passing Information Systems Audit (Assessment Test) 25th April 2017 It is hereby informed that in exercise of the authority vested with it under Regulation 204 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India has decided to revise the requirement for passing the Information Systems Audit(Assessment… Read More »

Significant changes in Income tax returns for AY 2017-18

Significant changes in Income tax returns for AY 2017-18   Extract from above Document With introduction of changes in Finance Act 2017, suitable changes in Income tax return were needed. The changes mainly cover demonetization effects, linking of PAN with Aadhar number for return filing, disclosure of special income and so on…. In the era… Read More »

Empanelment as Concurrent/Revenue Auditor for United Bank of India

Empanelment as Concurrent/Revenue Auditor for United Bank of India 1. United Bank of India invites application from practicing Firms of Chartered Accountants in India who fulfill the eligibility criteria as mentioned here under and are willing to have their firms empanelled as Concurrent Auditor and Revenue Auditor of the Bank for conducting Concurrent Audit and… Read More »

Professional’s Guide to Service Tax – After Finance Act 2017-Abhishek A Rastogi – 8th Edition 2017

Professional’s Guide to Service Tax – As amended by the Finance Act, 2017 (Set of 2 Volumes) Paperback – 1 Apr 2017 by Abhishek A Rastogi (Author) Foreword by Sh. Arun Jaitley (Minister of Finance, Defence and Corporate Affairs) Salient Features: Highlights of the Finance Act 2017 Fully updated commentary on Service Tax law including recent… Read More »

Pocket Guide to Service Tax – After Finance Act 2017-Book-Abhishek A Rastogi – 6th Edition 2017

Pocket Guide to Service Tax – As amended by the Finance Act, 2017Paperback – 1 Apr 2017 by Abhishek A Rastogi (Author) Pocket Guide to Service Tax endeavors to make statutory provisions easy to read and comprehend. With slew of amendments following the introduction of negative list, each passing year has witnessed significant changes in service… Read More »

Reference to valuation officer could be made even if appeal was pending before High Court: SC

SUPREME COURT OF INDIA Commissioner of Income-tax, Ajmer v. Sunita Mansingha R.K. AGRAWAL AND MOHAN M. SHANTANAGOUDAR, JJ. CIVIL APPEAL NO. 3064 OF 2007 MARCH  29, 2017 K. Radhakrishnan, Sr. Adv., Arijit Prasad, Ms. Gargi Khanna and Mrs. Anil Katiyar, Advs. for the Appellant. Dr. Manish Singhvi and P.V. Yogeswaran, Advs. for the Respondent. ORDER… Read More »

HC allowed tax credit on dividend received from foreign co. even if no taxes were actually paid in Oman

Held Up to the tax year 2011 dividend has been first included in the total income and thereafter deduction has been granted. The facts mentioned above clearly establish that the Assessee Society is entitled to getting credit for the deemed dividend tax by virtue of the provisions of DTAA read with Section 90 of the… Read More »