Posted On:  19 hrs ago


Pass Percentage CA Final Nov 2016. How to Check your Result

ICAI has changed the way to check your CA Final Result for November 2016 exams. Earlier, CA Final results used to be uploaded on icai.nic.in website. However, this time for Nov 2016, the exam results will be made available at http://icaiexam.icai.org/.

article author CA Chirag Chauhan

Posted On:  23 hrs ago


If tax payment made before due date but credited late then IDS 2016 is not invalid

Representations have been received from field authorities and stakeholders that there has been delay in payment of 1st instalment of tax, surcharge and penalty under the Income Declaration Scheme (the Scheme) in some cases owing to some technical errors in the system, non-deposit of cheque by collecting banks, payment made by filling wrong challan etc.

article author One Roof Consultant

Posted On:  23 hrs ago


Enhancement of withdrawal limits from ATMs and Current Accounts

Please refer to our circulars DCM (Plg) No. 1274, 1317 and 2142/10.27.00/2016- 17 dated November 14, 21 and 28 and December 30, 2016, respectively, on the above subject.

article author One Roof Consultant

Posted On:  23 hrs ago


Grant of Registration under DVAT and CST within one day

In partial modification of this department’s Circular No 06 of 2016-17 Dt 17-05-2016 and in keeping with the reforms being undertaken, under ‘Ease of Doing Business’ in Department of Trade and Taxes, GNCTD, it has been decided to further ease the procedure for grant of registration under DVAT & CST Act, as under

article author One Roof Consultant

Posted On:  23 hrs ago


Amendments effective from 15.01.2017 to the All Industry Rates of Duty Drawback

The Government considered representations, feedback and data related to the All Industry Rates (AIR) of Duty Drawback that took effect on 15.11.2016 and has notified certain changes vide Notification No. 03/2017-Customs (N.T.) dated 12.01.2017. These changes take effect from 15.01.2017. The notification should be downloaded from www.cbec.gov.in and perused. The changes made, inter-alia, include

article author One Roof Consultant

Posted On:  4 days ago


Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2017

In exercise of the powers conferred by section 31 of the Securities Contracts (Regulation) Act, 1956 read with sections 11 and 30 of the Securities and Exchange Board of India Act, 1992, the Securities and Exchange Board of India hereby makes the following regulations to further amend the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2012, namely

article author One Roof Consultant

Posted On:  4 days ago


SEBI (Foreign Portfolio Investors) (Amendment) Regulations, 2017

In exercise of the powers conferred under section 30 of the Securities and Exchange Board of India Act, 1992 (15 of 1992), the Securities and Exchange Board of India hereby, makes the following regulations to further amend the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2014, namely

article author One Roof Consultant

Posted On:  4 days ago


EPFO- List of Technical Suvidha Centres

In continuation of the office order of even number dated 30.12.2016 it is informed that the Unified Portal has been launched on 23.12.2016. Further, Technical Facilitation Centre called Technical Suvidha Centres under the monitoring of respective Ancilliary NOCs (ANOC) have also been set up. The e-mail addresses and contact details of the same are given below

article author One Roof Consultant

Posted On:  5 days ago


GST update on value of taxable supply

Adjudicating Authority means any authority competent to pass any order or decision under this Act, but does not include the Board, the Revisional Authority, Authority for Advance Ruling, Appellate Authority for Advance Ruling, the First Appellate Authority and the Appellate Tribunal

article author CA PRADEEP JAIN

Posted On:  5 days ago


Excise Duty on Plain (un-modified) Tamarind Kernel Powder-Reg.

Whereas the Central Government is satisfied that according to a practice that was generally prevalent regarding levy of duty of excise (including non-levy thereof), under section 3 of the Central Excise Act, 1944 (1 of 1944), (hereinafter referred to as the said Act), on Plain (Un-modified) Tamarind Kernel Powder falling under heading 1302 of the First Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) (hereinafter referred to as the said goods), was not being levied according to the said practice, during the period commencing on the 19th day of July, 2011 and ending with the 18thday of July, 2016

article author One Roof Consultant

Posted On:  5 days ago


Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2017

In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA. 20/2000-RB dated 3rd May 2000) (hereinafter referred to as ‘the Principal Regulations’), namely

article author One Roof Consultant

Posted On:  5 days ago


Payment of contributions & other dues by the employers — Grace period for 5 days for the employers for the month of December, 2016

The Unified Portal of EPFO was made operational on 23rd December, 2016. A number of references are being received from the employers highlighting the problems on the portal in upfront allotment of UAN, connectivity issues, login issues, website slowdown/hanging, awareness of new procedures etc. IS Division is making efforts to remove the difficulties and stabilize the unified portal.

article author One Roof Consultant

Posted On:  5 days ago


Evidence of Import under Import Data Processing and Monitoring System (IDPMS)

Attention of Authorized Dealer Category-I (AD Category-I) banks is invited to A.P. (DIR Series) Circular No. 05 dated October 06, 2016 read with Section 5 and Section 10 of the Foreign Exchange Management Act 1999 (42 of 1999), Government of India Notification No. G.S.R. 381(E) dated May 3, 2000 viz., Foreign Exchange Management (Current Account Transaction) Rules, 2000 on import of goods, FED Master Direction No. 17 dated January 1, 2016 on Import of Goods and Services and A.P. (DIR Series) Circular No. 9 dated August 24, 2000 which outlines the procedure, mode/manner of payment for imports and submission of related returns.

article author One Roof Consultant

Posted On:  5 days ago


Review of position of cash collection from current demand- Achievement of Action Plan target- CBDT

As you are aware, the Central Action Plan, 2016-17 has fixed the target of cash collection out of current demand as 20% of the current demand raised during the year. In this regard. a review of the current demand raised in various Regions up to November. 2016 was carried out and the position in respect of various Pr. CCsIT is given in the attached chart. It may be noted that at the all-India level, current demand of Rs.97,033 crore has been raised till November, 2016. after reducing the pre-paid taxes amounting to Rs.59,410 crore. At the rate of 20% of the net current demand, an amount of Rs.19.407 crore needs to be recovered collectively from demand raised till November. 2016.

article author One Roof Consultant

Posted On:  5 days ago


Regarding amendment in Notification no. 131/2016-Customs (N.T.) dated 31.10.2016 relating to AIR of duty drawback

In exercise of the powers conferred by sub-section (2) of section 75 of the Customs Act, 1962 (52 of 1962), sub-section (2) of section 37 of the Central Excise Act, 1944 (1 of 1944), and section 93A and sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), read with rules 3 and 4 of the Customs, Central Excise Duties and Service Tax Drawback Rules, 1995, the Central Government hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 131/2016 – Customs (N.T.), dated the 31st October, 2016, published vide number

article author One Roof Consultant

Posted On:  5 days ago


ST exemption on transportation of goods by a vessel & business facilitator service to bank

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.25/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 467 (E), dated the 20th June, 2012, namely

article author One Roof Consultant

Posted On:  5 days ago


CBEC rationalizes abatement for tour operator services

In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 26/2012- Service Tax, dated the 20thJune, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section

article author One Roof Consultant

Posted On:  5 days ago


Person liable to pay service tax on transportation of goods by a vessel

In exercise of the powers conferred by sub-section (2) of section 68 of the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 30/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 472 (E), dated the 20th June, 2012, namely

article author One Roof Consultant

Posted On:  6 days ago


Got Cashback from wallet or credit card transaction? You may be liable to pay Tax

The Demonetization has lead us to the cashless society where we are bound to use credit cards and wallets more often. Every bank, financial institution and wallet companies do provide cash back on various transactions to incentivize customers and attract more customers. Online shopping websites like Flipkart, Snap deal, Amazon, etc and some stores like Big Bazar, Dmart, etc are offering cashback on use of certain credit cards or mobile wallets to pay for the goods. Travel websites like Goibibo, Make my trip, expedia, etc are offering cashbacks on booking tickets, hotels or holidays by using credit cards or mobile wallets. Online taxi aggregators Ola and Uber are offering cashbacks on taxi rides. Online food delivery order booking websites Zomato, are offering cashbacks on orders. You can get cashbacks even on payment of your utility bills by using certain credit cards or mobile wallets link Paytm, Freecharge, etc . The amount of cash back if we calculate from all the sources can be more than few thousands in a year. So, are such cashbacks taxable?

article author CA Chirag Chauhan

Posted On:  6 days ago


New design of PAN card w.ef. 1st January 2017

All TEN-FCs & PAN Centres are hereby informed that the Income Tax Department (ETD) has prescribed certain changes in the existing design of the PAN Card. Accordingly, with effect from January 1, 2017, PAN cards are being printed as per the new design specifications approved by ITD.

article author One Roof Consultant