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Author: NewsTaxIndia

Income Tax Department Identifies 67.54 lakh Potential Non Filers for F.Y. 2014-15
Income Tax

Income Tax Department Identifies 67.54 lakh Potential Non Filers for F.Y. 2014-15

December 23, 2016 NewsTaxIndia0 comments770 views
Income Tax Department Identifies 67.54 lakh Potential Non Filers for F.Y. 2014-15: The Non-filers Monitoring System (NMS) was rolled out for identification of non-filers with potential tax liabilities. Data analytics carried out by the Systems Directorate of Central Board of Direct Taxes (CBDT) identifies non-filers … Continue Reading →
Reporting Cash Transactions under Rule 114E of Income – Tax Rules 1962
Income Tax

Reporting Cash Transactions under Rule 114E of Income – Tax Rules 1962

December 23, 2016 NewsTaxIndia0 comments1140 views
Reporting Cash Transactions under Rule 114E of Income – Tax Rules 1962: Rule 114E of Income-Tax Rules, 1962, for furnishing Statement of Financial Transactions (SFT) came into force with effect from 1st April, 2016.  Any person who is liable for audit under section 44AB of … Continue Reading →
Govt. decides to Reduction in Existing Rate of Deemed Profit u/s 44AD from 8% to 6%
Income Tax

Govt. decides to Reduction in Existing Rate of Deemed Profit u/s 44AD from 8% to 6%

December 20, 2016 NewsTaxIndia0 comments958 views
Govt. decides to Reduction in Existing Rate of Deemed Profit u/s 44AD from 8% to 6% in respect of amounts/receipts through banking channel/digital CBDT Press Release dated 19-12-2016: Under the existing provisions of section 44AD of the Income-tax Act, 1961 (the Act), in case of … Continue Reading →
Govt. decides to Reduction in Existing Rate of Deemed Profit u/s 44AD from 8% to 6%
Income Tax

Govt. decides to Reduction in Existing Rate of Deemed Profit u/s 44AD from 8% to 6%

December 20, 2016 NewsTaxIndia0 comments1185 views
Govt. decides to Reduction in Existing Rate of Deemed Profit u/s 44AD from 8% to 6% in respect of amounts/receipts through banking channel/digital CBDT Press Release dated 19-12-2016: Under the existing provisions of section 44AD of the Income-tax Act, 1961 (the Act), in case of … Continue Reading →
No Exemption have been Granted to Political Parties Post Demonetisation
Public News

No Exemption have been Granted to Political Parties Post Demonetisation

December 20, 2016 NewsTaxIndia0 comments729 views
No Exemption have been Granted to Political Parties Post Demonetisation: Arun Jaitley CBDT Press Release dated 17-12-2016: Clarification of Status of Political Parties under Income Tax Act, 1961 There have been some newspaper reports which seem to wrongly suggest that there cannot be any scrutiny … Continue Reading →
Old Notes exceeding Rs.5000 can be deposited only once upto 30-12-2016
Personal Finance

Old Notes exceeding Rs.5000 can be deposited only once upto 30-12-2016

December 20, 2016 NewsTaxIndia0 comments797 views
Old Notes exceeding Rs.5000 can be deposited only once upto 30-12-2016: The deposits of old notes of Rs.500 and Rs.1000 denominations have been reviewed by the Government from time to time. Already more than five weeks have elapsed since the time of the announcement of … Continue Reading →
Old Notes exceeding Rs.5000 can be deposited only once upto 30-12-2016
Personal Finance

Old Notes exceeding Rs.5000 can be deposited only once upto 30-12-2016

December 20, 2016 NewsTaxIndia0 comments932 views
Old Notes exceeding Rs.5000 can be deposited only once upto 30-12-2016: The deposits of old notes of Rs.500 and Rs.1000 denominations have been reviewed by the Government from time to time. Already more than five weeks have elapsed since the time of the announcement of … Continue Reading →
Additional Grace Period of 60 days to Farmers for Payment of Crop Loan Dues
Public News

Additional Grace Period of 60 days to Farmers for Payment of Crop Loan Dues

December 20, 2016 NewsTaxIndia0 comments745 views
Government decides to provide the additional grace period of 60 days to farmers, whose crop loan dues fall due between 1st November, 2016 and 31st December, 2016 Following the recent demonetization of Specified Bank Notes (SBNs) the Government is seized of the constraints faced by … Continue Reading →
Cabinet Approves MoU between ICAI and College of Banking and Financial Studies Oman
ICAI

Cabinet Approves MoU between ICAI and College of Banking and Financial Studies Oman

December 15, 2016 NewsTaxIndia0 comments1400 views
Cabinet approves the Renewal of MoU between the Institute of Chartered Accountants of India (ICAI) and College of Banking and Financial Studies Oman The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its ex-post facto approval of the MoUs signed in … Continue Reading →
CA Empanelment in West Bengal Forest Development Corporation Limited + 9 others
Empanelment

CA Empanelment in West Bengal Forest Development Corporation Limited + 9 others

December 14, 2016 NewsTaxIndia0 comments1884 views
CA Empanelment News (Source pdicai.org) West Bengal Forest Development Corporation Limited Conduct Internal Audit of the Accounts Of The Corporation Including Its Divisions And Ranges For The Financial Year 2017-18. Bharat Sanchar Nigam Limited – Ahmedabad Gujarat Hiring of Tax consultancy service and Auditing Work … Continue Reading →

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