TaxIndiaUpdates.In : GST, Service Tax, Income Tax, VAT, Tax Planning

CBDT: Procedure to be followed by the AO to verify Cash Transactions in Demonetisation

February 27, 2017 TaxIndiaUpdates In0 comments4172 views

Standard Operating Procedure (SOP) to be followed by the Assessing Officers in verification of Cash transactions relating to demonetisation – Post demonetisation of Rs. 500 and Rs. 1000 notes on November 8, 2016, several malpractices has been noticed. The Income Tax Department is enquiring/seeking information … Continue Reading →

Goods and Service Tax

CBEC has Launched Official Mobile Application CBEC GST at Google Play Store

February 25, 2017February 25, 2017 TaxIndiaUpdates In0 comments3091 views

CBEC has Launched Official Mobile Application CBEC GST at Google Play Store. The MOBILE APP (CBEC GST MOBILE APP) can be downloaded at GOOGLE PLAY STORE now. The publisher is Central Board of Excise and Customs (CBEC), Department of Revenue, Ministry of Finance, Government of … Continue Reading →

Personal Finance

Sovereign Gold Bond Scheme 2017

February 24, 2017February 25, 2017 TaxIndiaUpdates In0 comments4798 views

Sovereign Gold Bond Scheme 2016 -17 – Series IV – Issue Price In terms of Government of India notification F. No. 4(16)-W&M/2016 and RBI circular IDMD. CDD. No. 2187/ 14. 04. 050/ 2016-17 dated February 23, 2017, the Sovereign Gold Bond Scheme 2016-17, Series IV … Continue Reading →

Personal Finance

RBI Release FQAs on Foreign Investments in India and FEMA

February 16, 2017 TaxIndiaUpdates In0 comments4402 views

RBI Release FQAs on Foreign Investments in India & FEMA: These FAQs attempt to put in place the common queries that users have on the subject in an easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the … Continue Reading →

Personal Finance

FAQs on Benefits of Debit Card Activation & Further Concession on Digital Transactions

February 16, 2017February 16, 2017 TaxIndiaUpdates In1 comments2195 views

In line with the Central Government’s objective of promotion of payments through cards and digital means over payments in cash, the Reserve Bank of India (RBI) has recently rationalized customer charges for transactions up to Rs. 1000/- settled on Immediate Payment Service (IMPS), Unified Payments … Continue Reading →

Personal Finance

Modi Government’s Eyes on Unregulated Deposit Schemes to save Financial Interest of Common Man

February 16, 2017 TaxIndiaUpdates In0 comments3926 views

Public Comments on “Banning of Unregulated Deposit Schemes and Protection of Depositors Interests Bill 2016″ INVITATION FOR COMMENTS A copy of the “Banning of Unregulated Deposit Schemes and Protection of Depositors’ Interests Bill, 2015”, along with the Report of the Inter-Ministerial Group (IMG) for … Continue Reading →

Personal Finance

Senior Citizens Welfare Fund Rules 2016

February 16, 2017 TaxIndiaUpdates In0 comments4839 views

Government of India Ministry of Finance Department of Economic Affairs New Delhi, the 18th March,2016 NOTIFICATION G.S.R (E) In exercise of the powers conferred by section 128 of the Finance Act, 2015, 20 of 2015 the Government hereby makes the following rules, namely:- Short … Continue Reading →

Personal Finance

New Regulations for Recruitment of LIC Agents in respect of Life Insurance Business

February 10, 2017 TaxIndiaUpdates In1 comments10160 views

New Regulations for Recruitment of LIC Agents in respect of Life Insurance Business LIFE INSURANCE CORPORATION OF INDIA (AGENTS) REGULATIONS, 2017 , DATED 2-2-2017] In exercise of the powers conferred under section 49 of the Life Insurance Corporation Act, 1956 (31 of 1956), the Life … Continue Reading →

Budget 2017

Electoral Bond: A New System to Develop Transparency in Political Funding

February 7, 2017February 7, 2017 TaxIndiaUpdates In0 comments4189 views

Electoral Bond: A New System to Develop Transparency in Political Funding In order to discourage the cash transactions and to bring transparency in the source of funding to political parties, it is proposed in finance Bill 2017 to amend the provisions of section 13A to … Continue Reading →

Budget 2017

Changes proposed in Central Excise Law by Union Budget 2017-18

February 3, 2017 TaxIndiaUpdates In0 comments4739 views

Changes proposed in Central Excise Law by Union Budget 2017-18 Note: “Basic Excise Duty” means the excise duty set forth in the First Schedule to the Central Excise Tariff Act, 1985. A. AMENDMENTS IN THE CENTRAL EXCISE ACT, 1944: S. No. Amendment Clause of the … Continue Reading →