"12 January 2018" Archive

What is the Right Time to Buy Term Insurance Plan?

The short answer would be, “as early as possible.” But that doesn’t mean a child should also buy a term plan. There are various conditions that define the right time for anyone to buy a term life cover. For a clear understanding, it is important that you understand ‘what is term plan after all? And […]...

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Posted Under: Finance | ,

Sharp increase in prosecutions of tax evaders by Income Tax Department

The Income Tax Department has accorded the highest priority to tackle the menace of black money. With this objective in mind, the Department has initiated criminal prosecution proceedings in a large number of cases of tax offenders and evaders....

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Posted Under: Finance |

CBI arrests an ITO & Superintendent of Excise & Customs in alleged bribery case

The Central Bureau of Investigation has arrested an Income Tax Officer, Sirhind (Punjab) and two IT Inspectors (one serving, one retired) in a bribery case of Rs. 70,000/-....

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Posted Under: Finance |

MCA ‘reactivated’ DINs of disqualified Directors

Stakeholders of Condonation of Delay Scheme (CODS) (notified vide General Circular No.16/2017 dated 29th December 2017) may kindly note that the process for ‘reactivation’ of the DINs in respect of disqualified Directors has been completed and the status of the relevant DINs can be checked now. Stakeholders are therefore requested to ...

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Posted Under: Finance |

U S Taxation: Choosing most appropriate entity to start business

In U.S.A., with the announcement of historical tax concessions for business, being reportedly released in the future, though the legal approvals have already been obtained, not a day passes when someone would not ask me what type of business he/ she may start in USA....

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Posted Under: Finance |

Dhamra and Dighi Ports included in list of ports mentioned in Export Promotion (EP) Schemes Notifications

Notification No. 3/2018-Customs (12/01/2018)

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in each of the notifications of the Government of India in the Ministry of Finance (Department of Re...

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Amendments in ANFs 4A, 4E, 4F, 4G, 4H & 41 forms of HBP 2015-20

Pubic Notice No. 52/2015-2020-DGFT (12/01/2018)

Amendments have been made in Ayat Niryat Forms (ANF) 4A, 4E, 4F, 4G, 4H & 41 of Handbook of Procedures 2015-2020 in light of implementation of GST and non-issuance of EP copies of Shipp g Bills by Customs Authorities....

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GST: Important instructions to issue Tax Invoice correctly

It is important to issues the tax invoice correctly. The following items must be clearly mentioned on a tax invoice: (a) name, address and Goods and Services Tax Identification Number of the supplier;...

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Posted Under: Finance |

Abolish Income Tax, raise banks’ rates to 9%: Dr Subramanian Swamy

Domestic savings and not foreign investment can take Indian economy on a 10 per cent growth path, for which Income Tax must be abolished and interest rates on Fixed Deposits be raised to nine per cent along with the reduction in the banks' Prime Lending Rates (PLR), senior BJP leader and Member of Parliament (MP)...

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Posted Under: Finance |

Cancellation of GST Registration Procedure with FAQs

Q.1 Under which circumstances can a registered Taxpayer file for cancellation of GST registration? Ans: A registered Taxpayer can file for cancellation of GST registration on the occurrence of any of the following events:...

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