"January, 2017" Archive
Investment Property – Ind-As/ IFRS
Entities usually invest strategically into various properties to earn some kind of rentals or value appreciations in future (in substance) and made them available for sale as per the requirements or plans made by the Management. ...
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Guide to Online verify Cash Deposits during 09.11.2016 to 31.12.2016
Income Tax Department- User Guide for Online Verification of Cash Deposits during 9th Nov to 30th Dec 2016 Please contact 1800 4250 0025 for queries regarding e-filing issues. Please send mail at cash2016@incometaxindia.gov.in for queries regarding verification. 1. Background Income Tax Department (ITD) intends to leverage technology and ...
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IT Dept seeks Clarification on cash deposited during Demonetisation
Income Tax Department launches Operation Clean Money to seek Clarification from PAN holders on cash deposited during Demonetisation period...
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Corporate Frauds- Prevention Detection & Deterrence in Digital Economy
From above discussion we can conclude that Digital economy will be able to prevent and detect the fraud at the early stage but its ultimate prevention is in the hands of the key managerial personnel because the implementation of all the Systems for prevention of frauds is in their hands. Along with the effective information system there m...
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Checklist on Right Issue of Shares to existing shareholders
Finalize the draft letter of offer for issuing equity shares through right issue. No specific format of Letter of offer is prescribed. However letter of offer shall contain offer price, face value of shares, Mode & terms of payment and right to renounce....
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How to submit online response to Cash Deposit in Bank Account
Income Tax Department has identified bank accounts which have large value cash transactions. The details of bank account are visible under Compliance section of the e-filing portal of the related persons. PAN holders can submit the on-line response as under:...
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ITD launches Operation Clean Money to e-verify cash deposits
NA - (31/01/2017) -
Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. ...
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Demonetization boosts liquidity, lowered cost of fund for Banks
There has been a significant surge in CASA deposits of most banks post demonetisation, which has given a strong boost to liquidity and lowered their cost of funds. It has also encouraged banks to lower their MCLR across all tenures. ...
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FICCI’s projects GDP growth of 6.8% for 2016-17
The latest round of FICCI’s Economic Outlook Survey puts forth an annual median GDP growth forecast of 6.8% for 2016-17. This is 0.5 percentage points lower than the estimate of 7.3% put across in the last round. The Central Statistical Organization had projected a GDP growth of 7.1% for 2016-17 earlier this year....
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Union Budget 2017-18 crucial for stimulating economy
With respect to TAXATION, government should • Lower Corporate Tax Rate • Reduce Income Tax Rates • Roll out GST implementation framework • Removing the remaining inverted duty structure that does not favour local manufacturing...
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