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Archive: January, 2017

Posts in January, 2017

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6501 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Investment Property – Ind-As/ IFRS

January 31, 2017 9144 Views 4 comments Print

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.

Guide to Online verify Cash Deposits during 09.11.2016 to 31.12.2016

January 31, 2017 56574 Views 18 comments Print

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 for queries regarding verification. 1. Background Income Tax Department (ITD) intends to leverage technology and data analytics for effective utilization of demonetisation […]

IT Dept seeks Clarification on cash deposited during Demonetisation

January 31, 2017 14184 Views 1 comment Print

Income Tax Department launches Operation Clean Money to seek Clarification from PAN holders on cash deposited during Demonetisation period

Corporate Frauds- Prevention Detection & Deterrence in Digital Economy

January 31, 2017 4551 Views 1 comment Print

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 must be strong ethical environment in the organization and all the ethical measures should be put in place for discouragement of the frauds.

Checklist on Right Issue of Shares to existing shareholders

January 31, 2017 40662 Views 4 comments Print

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.

How to submit online response to Cash Deposit in Bank Account

January 31, 2017 26157 Views 2 comments Print

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:

No Taxability under Income Tax Provisions if no tax under respective DTAA

January 31, 2017 5814 Views 0 comment Print

Recently, in DCIT vs. Ford India Limited & vice-versa[I.T.A. Nos. 673 and 840 /Chny/2015 and I.T.A. Nos. 748 and 749 /Chny/2015, A.Y. 2011-12 and 2012-13, decided on 31.01.2017], one of the question raised before ITAT, Chennai was whether CIT(A) erred in deleting the tax

ITD launches Operation Clean Money to e-verify cash deposits

January 31, 2017 1299 Views 0 comment Print

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.

Demonetization boosts liquidity, lowered cost of fund for Banks

January 31, 2017 1032 Views 0 comment Print

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.

FICCI’s projects GDP growth of 6.8% for 2016-17

January 31, 2017 561 Views 0 comment Print

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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