A major portion of the Indian population comes under the middle class category. The middle class people in India are mostly educated and aspirational. They want to have a financially secured life with an aim for wealth creation at the same time. This mentality of the middle class has led to a rapid growth in […]
Income Tax Department has released on 03/04/2016 Excel Utility of ITR 1 and ITR 4S for AY 2016-17 for e-filing and now they have released todayExcel e-filing utility for ITR 2, ITR 2A and ITR 3 for AY 2016-17. Other ITR are also expected to be released soon. Department has also released JAVA utility of […]
Admit Cards for May 2016 Examination – (07-04-2016) Admit cards April 7th, 2016 Admit cards in respect of candidates admitted to the Intermediate (IPC) and Final May 2016 examination, with their photographs and signatures on them, are hosted on www.icai.nic.in. Candidates may print their admit cards from the said website. For downloading/printing of the admit […]
The right to information is implicitly guaranteed by the Constitution. However, with a view to set out a practical regime for the citizens to secure information as a matter of right, the Indian Parliament enacted the Right to Information Act, 2005. This law is very comprehensive and covers almost all matters of governance. This Law has a wide reach, being applicable to Government at all levels- Union, State and Local as well as to the recipients of substantial government funds.
The Customs SWIFT enables importers/exporters to file a common electronic ‘Integrated Declaration’ on the ICEGATE portal. The Integrated Declaration compiles the information requirements of Customs, FSSAI, Plant Quarantine, Animal Quarantine, Drug Controller, Wild Life Control Bureau and Textile Committee and it replaces nine separate forms required by these 6 different agencies and Customs.
Rescheduling of Paper – 7 of IPC (Intermediate) Examinations and Paper – 8 of Final Examinations in the State of Kerala, Tamil Nadu and Pondicherry only. – (07-04-2016) The Institute of Chartered Accountants of India [Set up by an Act of Parliament] Post Box No.7112, ICAI BHAWAN, Indraprastha Marg New Delhi – 110002 TO BE […]
(i) The sole objective of the approved Scientific Research Association shall be to undertake scientific research; (ii) The approved organization shall carry out scientific research by itself;
As per CBDT Circular No.1/ 2016 dated 15.2.2016, it is clear that the assessee has option to claim deduction in subsequent years i.e. he can choose initial assessment year for claiming deduction even post commencement of business.
Reason for reopening of the assessment was a mistaken factual premise that the Assessee had changed the system of accounting from the mercantile to the cash system. It was more than adequately explained by the Assessee that this was an inadvertent error.
Para 3.14.3 of FTP 2009-14 inter-alia sates that the following categories of export product/sector shall be ineligible for Duty Credit Scrip under Focus Market Scheme (FMS) of FTP 2009-14. VII- Sugar, of all types and in all forms. It is therefore, clarified that all items under HS code 1702 are Sugar as HS code 1702 lists other Sugar Accordingly the export item Liquid Glucose is Sugar and therefore not eligible for FMS benefits.
