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Exchange of old notes for those who were out of India B/W 10.11.2016 to 30.12.2016

December 31, 2016 2599 Views 1 comment Print

A facility for exchange of SBNs is made available for the resident and non-resident citizens who could not avail the facility from November 10 to December 30, 2016 on account of their absence from India during the aforementioned period.

Declaration to be filled up by NRIs for depositing Specified Bank Notes

December 31, 2016 1366 Views 0 comment Print

For the period from up to 31.3 17 or 30.6.17, as applicable, a declaration form will need to be filled by resident Indians and Non-resident Indians coming to India and carrying SBNs for depositing these SBNs in the specified offices of RBI in India.

CBEC amends 9 Excise duty notifications

December 31, 2016 3109 Views 0 comment Print

CBEC amends following 9 excise duty notifications namely- Notification No. 74/93-Central Excise , Notification 10/96- Central Excise, dated 23rd July,1996, Notification 49/2003-Central Excise

All about Bharat Interface for Money (BHIM) APP with FAQS

December 31, 2016 9115 Views 7 comments Print

Bharat Interface for Money (BHIM) is an initiative to enable fast, secure, reliable cashless payments through your mobile phone. BHIM is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts. BHIM is developed by the National Payment Corporation of India (NPCI). BHIM is made in India and dedicated to the service of the […]

10% rebate in Basic Rail Fare on Vacant Seats after Chart Preparation

December 31, 2016 1771 Views 1 comment Print

Railways extends 10% rebate in Basic Fare on Vacant Berth/Seats after Preparation of First Chart In all Trains WEF 1st January 2017.

Income Tax Notice, Corruption and You

December 31, 2016 7762 Views 4 comments Print

In India the Word CORRUPTION is associated from the bottom line and it will be grown day by day which can not be stopped now. Because its insert in the Subconscious mind, and which is never change once it was taken place.

Notification No. 150/2016-Customs (N.T.) dated 31.12.2016

December 31, 2016 1657 Views 0 comment Print

1) In Chapter 29, in heading 2937,‑ (i) tariff items 2937 31 00 and the entries relating thereto shall be omitted,(ii) against tariff item 2937 90 11, for the entry in column (2) , the entry Epinephrine shall be substituted;

CBEC amends 5 Notification related to imposition of Anti Dumping Duty

December 31, 2016 1045 Views 0 comment Print

CBEC amends Notification 67/2011- Customs, dated the 28th July, 2011, 98/2011- Customs, dated the 20th October, 2011, 7/2012- Customs (ADD), dated the 13th January, 2012, 51/2012- Customs (ADD), dated the 3rd of December, 2012 and 21/2013- Customs (ADD), dated the 6th September, 2013.

20 Recent Decisions of ICAI Ethical Standards Board

December 30, 2016 5590 Views 2 comments Print

A chartered accountant cannot exercise lien over the client documents/records for non-payment of his fees. It is not permissible for chartered accountants in practice to take agencies of UTI, GIC or NSDL. It is permissible for a member in practice to be a settler of a trust.

Income Tax Business Application- MAP Proceedings Module

December 30, 2016 4444 Views 0 comment Print

Initiate MAP Proceedings (in India): Facility is provided to record the details of an application filed by resident assessee u/sec 295(2)(h) (Form 34F) to initiate the MAP Proceedings, on being aggrieved by action of foreign tax authorities.

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