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CBI arrests Income Tax Inspector from Ernakulam (Kerala) for accepting bribe

April 3, 2017 981 Views 0 comment Print

The Central Bureau of Investigation has arrested an Inspector (Investigation), Income Tax Department, Ernakulam (Kerala) for demanding & accepting an alleged bribe of Rs. Five lakh from the complainant.

Limit for investment by FPIs in Government Securities (June 2017 Quarter)

April 3, 2017 483 Views 0 comment Print

a. Limit for FPIs in Central Government securities shall be enhanced to INR 184,901 cr. b. Limit for Long Term FPIs (Sovereign Wealth Funds (SWFs), Multilateral Agencies, Endowment Funds, Insurance Funds, Pension Funds and Foreign Central Banks) in Central Government securities shall be revised to INR 46,099 cr.

SEBI: Capacity Planning Framework for the Depositories

April 3, 2017 813 Views 0 comment Print

Depositories have been identified as Financial Market Infrastructure which facilities and perform systemically critical functions in the securities market. In view of their importance in the smooth functioning of the securities market, the framework for capacity planning of the Depositories was also discussed in TAC.

Notification No. 11/2017-Customs (ADD) dated 3rd April, 2017

April 3, 2017 1701 Views 0 comment Print

G.S.R. (E).- In exercise of the powers conferred by sub-sections (1) and (5) of section 9A of the Customs Tariff Act, read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995

Mrs. Aruna Sethi appointed as the Chief Adviser (Cost) in MOF

April 3, 2017 882 Views 0 comment Print

Mrs. Aruna Sethi, 1985 batch officer of Indian Cost Accounts Service (ICoAS) has been elevated to the position of Chief Adviser (Cost) in the Ministry of Finance, Department of Expenditure w.e.f. 1st April, 2017.

Procedure, Formats and Standards for ensuring secured transmission of electronic communication

April 3, 2017 2997 Views 0 comment Print

Procedure, Formats and Standards for ensuring secured transmission of electronic communication – introduction of E-Proceeding for communication between the Income Tax Department and Assessee-reg.

New disclosure and reporting requirement in Auditor’s Report

April 3, 2017 10740 Views 1 comment Print

Regarding disclosure requirement and reporting requirement in the Auditor’s Report that the company has provided requisite disclosures in its financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8th November, 2016 to 30th December, 2016. We would like to inform you that the Ministry of Corporate Affairs has […]

RTE amendment bill introduced in Lok Sabha

April 3, 2017 1017 Views 0 comment Print

AS INTRODUCED IN LOK SABHA- 1. Short title and commencement. (1) This Act may be called the Right of Children to Free and Compulsory Education (Amendment) Act, 2017. (2) It shall be deemed to have come into force on the 1st day of April, 2015.

Steps involved in using e-Proceeding by Income Tax Departmental users

April 3, 2017 38559 Views 0 comment Print

e-Proceeding is a part of e-governance initiative to facilitate a simple way of communication between the Department and the taxpayer, through electronic means, without the necessity of the Assessees to visit the Income Tax Office.

Foolproof Password changing system & e-filing of Returns needed

April 2, 2017 4965 Views 2 comments Print

The continued emphasis on e-filing of ITRs & TDS Returns has given successful response to the electronic era in Income Tax system. As per Section 139D of the Income Tax Act, 1961, CBDT may make rules providing for:

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