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ICAI welcomes the passing of the much awaited 122nd Constitution Amendment (GST) Bill, 2014 by the Rajya Sabha which would pave the way for implementation of Goods and Services Tax in India. It is the most significant tax reform since Independence, which subsumes a variety of federal and state taxes. The Bill would now be … Read more
For the kind information of all practicing members of Institute Extension of Multipurpose Empanelment Form for the year 2016-17 The last date of online filing of MEF 2016-17 is hereby extended to 20th September, 2016 at www.meficai.org and the last date of submission of duly signed declaration has been extended to 30th September, 2016. (CA. … Read more
The Reserve Bank of India has today notified that Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 100 per cent of the paid up capital of M/s Crompton Greaves Consumer Electricals Limited under the Portfolio Investment Scheme (PIS). The Reserve Bank has stated that the company has passed resolutions at … Read more
Part I. Purchase of immovable property outside India by Resident Individuals These FAQs attempt to put in place the common queries that users have on the subject in easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the regulations made or directions issued thereunder may be referred … Read more
RBI/2016-17/62 DBR.No.Leg.BC. 13/09.07.005/2016-17 September 8, 2016 The Managing Directors/Chief Executive Officers All Scheduled Commercial Banks (including RRBs) Dear Sir, Income Declaration Scheme, 2016 – Acceptance of Cash Over the Counter Please refer to the Circular DBOD.No.Leg.BC.38/09.07.005/2008-09 dated August 28, 2008 wherein banks have been advised to ensure that their branches invariably accept cash from all … Read more
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 9th September, 2016 Press Release Sub :- CBDT Extends due date for filing of Income Tax Returns – reg The due date for filing of Income tax returns by tax payers whose accounts are required to be audited … Read more
Date Act/Law Compliance 6th September Central Excise E-Payment of Central Excise for all assessees other than SSI Units for August 2016 6th September Central Excise E-Payment of Central Excise for assessees availing or eligible to avail exemption based on value of clearances (SSI Units) for August 2016 7th September Income Tax Due date for deposit … Read more
Q.1 What are the types of return I need to file? Ans. There is no change in type of returns. You are required to file the same type of returns which you have been filing until now. Q.2 Should I use different annexure for every return form? Ans. No, you have to use single … Read more
Date Act/Law Compliance 6th August Service Tax Monthly payment of Service Tax for assessees other than Individual, Proprietory Firm and Partnership Firm 6th August Central Excise Monthly payment of Central Excise other than SSI Unites for July 2016 7th August Income Tax Due date for deposit of Tax deducted/collected for the month of July, 2016. … Read more
The Dictionary Meaning of Nidhi in Indian Context “In the Indian context / language means “TREASURE”. However, in the Indian financial sector it refers to any mutual benefit society notified by the Central / Union Government as a Nidhi Company. Nidhi Companies are created mainly for cultivating the habit of thrift and savings amongst its … Read more