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SEBI eases access norms for investment by Foreign Portfolio Investors

February 15, 2018 642 Views 0 comment Print

SEBI in consultation with stakeholders has decided to make following changes in extant regulatory provisions to ease the access norms for investment by Foreign Portfolio Investors (FPIs)

Procedure to obtain CST declarations for period starting from 01/04/2016

February 14, 2018 27087 Views 1 comment Print

he dealers registered under the CST Act, 1956, on or after 25.05.2016 can apply for eCST declarations for the periods starting from 01.04.2016 on the SAP System available on the web Portal mahagst.gov.in. The process of raising, downloading and cancelling CST declarations has been explained in Trade Circular No 8T of 2017.

Expense of Corporate Membership of Director is allowable Expenditure

February 14, 2018 14010 Views 0 comment Print

Many clubs allow membership to companies or other business entities. The membership is given in name of company or other concern. It is very well known that the clubs are a platform to meet people.

Fees for use of Software is revenue in nature and allowable U/s. 37

February 13, 2018 2418 Views 0 comment Print

License fee, Connectivity charges and co-ordination charges paid to a US based company GE Capital Corporation for use of ‘Vision Plus’ software held to be revenue in nature and allowable under section 37

Exposure Draft of Ind AS 117, Insurance Contracts

February 13, 2018 1707 Views 0 comment Print

Following is the Exposure Draft of Ind AS 117, Insurance Contracts, issued by the Accounting Standards Board of the Institute of Chartered Accountants of India, for comments. The Board invites comments on any aspect of this Exposure Draft.

CBDT notifies Government e-Marketplace (GeM) U/s. 138 of Income-tax Act

February 12, 2018 9615 Views 2 comments Print

Central Government, hereby specifies Chief Executive Officer, Government e Marketplace (GeM) for purposes of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of Income-tax Act, 1961

CBDT notifies important procedural aspects while conducting e-assessment

February 12, 2018 20826 Views 3 comments Print

Some of the important procedural aspects while conducting assessment proceedings through ‘E-Proceeding’ are as under: 4.1 Enquiry before assessment in electronic mode: For enquiries before assessment in terms of section 142(1)(ii) of the Act, notice shall be issued electronically and delivered upon the assessee in his ‘E-Filing’ account. While filing the response electronically in compliance with notice under section 142(1)(ii) of the Act, the concerned assessee shall verify it in the manner prescribed under Rule 14 of Income-tax Rules, 1962.

Registration process to Register DSC on MCA using emSigner

February 12, 2018 42375 Views 0 comment Print

Now a days its a common issue among professionals like CA/CS/CMA that how to get Register DSC on MCA portal using emSigner, recently launched, so here are the few important tips, which may help you while registering DSC on Ministry of Corporate Affairs portal.

Bias against assesses or manufacture – LTCG in budget 2018 & the premature FAQ

February 12, 2018 8487 Views 0 comment Print

One important bone of contention is the long term capital gains tax on the equities and equity based mutual funds. What was in the budget speech and what was in the amendment are completely two different matters.

6 New Clarifications regarding GST on services

February 12, 2018 43188 Views 1 comment Print

Is hostel accommodation provided by Trusts to students covered within the definition of Charitable Activities and thus, exempt under Sl. No. 1 of notification No. 12/2017-CT (Rate).

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