News on Tax, Corporate Law, Recent Judgement, Govt Policy

The Finance Bill 2013 has been passed by the Lok Sabha today (30.04.2013) after incorporating  12 minor amendments. THE MINISTER OF FINANCE (SHRI P. CHIDAMBARAM) Moving the motion for consideration of the Bill said: Post the Budget presentation and post the Finance Bill introduction, we had discussions with stakeholders, Members of Parliaments, State Governments, industry, [...] Full Article

Import of challan file (.csi file): Import of challan file downloaded from the TIN website (Challan Status Inquiry) has been made mandatory at the time of validating the quarterly TDS/TCS statement, if the TDS/TCS is deposited through challan. This will be applicable in case of regular statement and for correction statement in the scenarios as below: Full Article

Section 80CCG: Section 80CCG has been incorporated for Form no. 24Q Q4. Section code 80CCG is applicable for FY 2012-13 onwards. Section 80CCF: Quoting deduction under section 80CCF has been restricted to FY 2010-11 and 2011-12. Full Article

File Validation Utility (FVU) for Form 15CA Bulk upload (version 1.3) released on 07/03/2013 The Form 15CA FVU is a Java based utility. JRE (Java Run-time Environment) [versions: SUN JRE: 1.4.2_02 or 1.4.2_03 or 1.4.2_04 or IBM JRE: 1.4.1.0] should be installed on the computer where the Form 15CA FVU is being installed. Java is [...] Full Article

 CA final exams will be started from 2nd May 2013 and ended on 16th May 2013 CA IPCC will be started from 3rd May and ended on 15th May 2013 CA IPCC Exam Date Sheet for May 2013 Full Article

Dear Friends, Ethics is all about our becoming and feeling responsible about everything that is around us. We are responsible only when we appreciate everything that is ethical and denounce all that is not ethical around us. I would like our membership to ensure that they always go for the stricter interpretation, foregoing the liberal [...] Full Article

The Ministry examines the effects of dumped goods on the domestic industry, and not cheap goods. Dumping takes place if the export price of a product is less than the normal value prevailing in the exporter’s country. In order to offset the adverse effects of dumped imports, Domestic Industry can avail the trade defence measures [...] Full Article

The Office of Controller General of Patents, Designs and Trade Marks has taken the following steps to strengthen the process and creations of Intellectual Property Rights. (i) The filing of Patents and Trademarks applications has been made online. Full Article

  The Special Judge for CBI cases, Visakhapatnam has convicted Sri Akella Venkata Subramanya Sastry, the then Income Tax Officer, Eluru, West Godavari District (Andhra Pradesh) U/s 13(2) r/w 13(1) (e) of P.C Act 1988 in Disproportionate Assets case and sentenced him to undergo Five Years Rigorous Imprisonment with fine of Rs.10,000/-. The Special Judge [...] Full Article

CA Members may note that ICAI has received a letter from Directorate of Income-tax (Systems) requesting it to impart information regarding correct procedure of e-filing of returns. The following are the major concerns of the Department:- a) ITR-V is not received or is belated for the assessment year at CPC b) ITR-V is not signed by the tax payer Full Article