"13 September 2017" Archive - Page 4

5 tips to Hit Right Track to your Financial Goals: Coasting to Cruising

A dream is just a dream. A goal is a dream with a plan and a deadline, says Harvey Mackay. This quote is inspiring and is very appropriate for all of us who have financial goals to achieve in our lifetimes....

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Posted Under: Finance |

Income Computation and Disclosure Standard I- Accounting Policies

This ICDS deals with application of significant accounting assumptions and policies in computation of income for the purposes of the Act. Financial statements of an Assessee reflect his state of financial affairs. They form the base for computation of taxable income under the Act. The income for a particular year is significantly affected...

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Posted Under: Finance |

TDS on interest under Capital Gains Accounts Scheme of deceased depositor

Notification No. 08/2017- Income Tax 13/09/2017

It has been brought to the notice of CBDT that in cases of deceased depositor who has made deposits under the Capital Gains Accounts Scheme, 1988; the banks are deducting TDS on the interest earned on such deposits in the hand of the deceased depositor and issuing TDS certificates in the name of the deceased depositor, which is not in ac...

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Measures to enhance revenue collections through TDS

F. No. 370/02/2017-IT(B) 13/09/2017

On review of the progress of TDS collections it is noted that as on 31.08.2017, an amount of Rs. 1,65,114 crore has been collected under TDS (Minor Head) at a growth rate of 10.44% over corresponding period of last financial year. It has shown a significant decline of 7 percent over the last financial year when the growth rate at this tim...

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Obligation to comply with Ind AS by subsidiary Payment / Small Finance Banks

General Circular No. 10/2017 13/09/2017

It is hereby clarified that the holding company if it is covered by the corporate sector roadmap for implementation of Ind AS, shall follow the corporate sector roadmap and if the company has got payment bank or small finance bank as its subsidiary then subsidiary company shall follow the banking sector roadmap...

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GST: Jaitley constitutes a Group of Ministers and a Committee on Exports

The Union Finance Minister Shri Arun Jaitleyconstitutes a Group of Ministers and a Committee on Exports; Bihar Deputy Chief Minister,Shri Sushil Kumar Modi to head the GOM while Committee on Exports to be headed by the Revenue Secretary, Dr.Hasmukh Adhia. ...

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MCA identifies more than one lakh directors of shell companies for disqualification

Ministry of Corporate Affairs has identified 1,06,578 Directors for disqualification under Section 164(2)(a) of the Companies Act, 2013 as on September 12, 2017....

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Posted Under: Finance |

Govt may increase Gratuity ceiling to Rs. 20 Lakh for Private Sector Employees

The present upper ceiling on gratuity amount under the Act is Rs. 10 Lakh. The provisions for Central Government employees under Central Civil Services (Pension) Rules, 1972 with regard to gratuity are also similar. Before implementation of 7th Central Pay Commission, the ceiling under CCS (Pension) Rules, 1972 was Rs. 10 Lakh. However, w...

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Entrepreneurship and industry to move with….

Before talking about the Industry or future or scope of it, it is important to analyse the trend of the market which has moved from past 20 to 30 years. Comparing the past movement in the industry across the world there is no doubt in concluding the facts that the business has been made more comfortable and easy approachable to the consum...

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Peak Filing Preparation for 2017- MCA 21

To Avoid last minutes rush and system congestion on the MCA 21 Portal on Account of annual filings during the months of October and November, 2017, Companies are requested to file their financial statements and annual returns at the earliest, without postponing it to the last few days permitted for the same....

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Posted Under: Finance |

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