"01 March 2018" Archive

Amended Rules for making Application for registration of charitable or religious trusts, etc

I have authored blog on the Concept of NGO and Step by Step Procedure for Registration u/s 12A.The existing Form No. 10A has been substituted vide CBDT Notification No.10/2018 dated 19/02/2018. Rule 17A has been substituted by the Income-tax (First Amendment) Rules, 2018, w.e.f. 19-2-2018. The amended rules provide for application for re...

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Posted Under: Income Tax |

CBDT achieves important milestone of 200 APAs

The Central Board of Direct Taxes (CBDT) entered into seven more Advance Pricing Agreements (APAs) during the month of February, 2018. All the seven are Unilateral APAs. With the signing of these Agreements, CBDT has crossed an important milestone of having signed 200 APAs. The total number of APAs entered into by the CBDT till […]...

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Posted Under: Income Tax |

e-SANCHIT mandatory from 15th March, 2018: CBEC Chairman

DO.No.09/CH(EC)/2018 (01/03/2018)

As you are aware, e-SANCHIT shall be made mandatory from 15t" March, 2018. The Board has issued instructions to all the Chief Commissioners to launch e-SANCHIT in all the EDI locations. ...

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Anti Profiteering under GST- Authorities and Case Studies

Why anti-profiteering authority is important? As before implementing GST in India many countries have adopted GST before namely Singapore, Australia, Malaysia and many more. Inflation in Australia was 1.9% before GST and rose to 5.3% after GST. ...

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Posted Under: Income Tax |

India’s Bharat-Mala Pariyojana

Statistical Information about the Bharat Mala along with the need felt by GOI to undertake this mega road infrastructure project. The article also focus on sectors/ industries that are likely to benefit from this infrastructure boost....

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Posted Under: Income Tax |

Process to generate challan on SAP for Payment Across Bank Counter

The Tax payer who does not have bank account in any of the authorised banks for payment of Maharashtra Sales Tax Department taxes, or does not have net banking facility can use this facility to make payment of any amount payable to the Department....

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Posted Under: Income Tax |

Why export promotion policy favour defaulters & punish efficient exporters- Part I

The law is not a rational code. The law is an ass & the bureaucracy is responsible for it. These are all well known but then even a beneficial Export Promotion Policy will be afflicted by it is very difficult to digest but then always trust the miraculous Indian bureaucracy for cracking a poor joke....

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Posted Under: Income Tax |

Stepping into international market? Know requirements here!

The business once expanded in the Indian Market needs to step into international market to churn out more financial benefits from the business. Today, thousands of businesses in every country wholly or partially depend on the export of goods to cater their financial needs and rewards. ...

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Posted Under: Income Tax |

Sole Proprietorship: Advantages, Disadvantages & Compliances

Sole Proprietorship is a business enterprise that is owned and controlled by one person who possesses the entire authority & responsibility with respect to the business. He can hire employees and pay them salaries, but legal responsibility for the obligations of the business is on the sole proprietor....

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Posted Under: Income Tax |

Separate limit of Interest Rate Futures for Foreign Portfolio Investors

RBI/2017-18/137 FMRD.DIRD.6/14.03.001/2017-18 (01/03/2018)

Foreign Portfolio Investors, registered with Securities and Exchange Board of India, are permitted to purchase or sell Interest Rate Futures subject to the following conditions: (i) the aggregate long position of all FPIs, each of whom has a net long position in any IRF instrument, shall not exceed ₹ 5000 crore, aggregated across all IR...

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