TaxIndiaUpdates In

CBI Arrests Commissioner of Income Tax (Appeals) and CA in an Alleged Bribery Case of Rs. 2 Crore

May 4, 2017 TaxIndiaUpdates In0 comments3087 views

CBI ARRESTS COMMISSIONER OF INCOME TAX AND FIVE OTHERS IN AN ALLEGED BRIBERY CASE AND RECOVERS RS.1.50 CRORE (APPROX) Press Release New Delhi, 03.05.2017 The Central Bureau of Investigation has arrested a Commissioner of Income Tax(Appeals-30), Mumbai (An IRS Officer of 1992 Batch) and five … Continue Reading →

Personal Finance

Guidelines on Merchant Acquisition for Card Transactions

May 4, 2017 TaxIndiaUpdates In0 comments4606 views

Guidelines on Merchant Acquisition for Card Transactions Co-operative banks have been permitted to install both onsite/offsite ATM networks and can issue debit cards on their own or through sponsor banks based on certain eligibility conditions. Also, all co-operative banks have been allowed to enter … Continue Reading →

Central Excise

Round the clock Presence of Central Excise officers in the Cigarette Factories is not Mandatory

May 2, 2017May 2, 2017 TaxIndiaUpdates In0 comments4441 views

CBEC Circular No. 1055/ 04/ 2017 – CX, Dated: May 1, 2017: Round the clock presence of Central Excise officers in the cigarette factories is not mandatory but directory. The presence of Superintendent or Inspector of Central Excise in all cases would be mandatory at the … Continue Reading →

Service Tax

Date of submission of the Form ST-3 extended from 25th April 2017 to 30th April 2017

April 26, 2017 TaxIndiaUpdates In0 comments5179 views

Date of submission of the Form ST-3 extended from 25th April 2017 to 30th April 2017 CBEC Order No: 1 /2017-Service Tax dated April 25, 2017 In exercise of the powers conferred by sub-rule(4) of rule 7 of the Service Tax Rules, 1994, the Central … Continue Reading →

Goods and Service Tax

Ministry of Finance Press Release: An Overview of GST

April 26, 2017 TaxIndiaUpdates In0 comments4807 views

Ministry of Finance Press Release: An Overview of GST A. Benefits: 1.GST is a win-win situation for the entire country. It brings benefits to all the stakeholders of industry, government and the consumer. It will lower the cost of goods and services, give a boost … Continue Reading →

Income Tax

Valuation Rules for Accreted Income of Certain Trusts has been Notified

April 26, 2017 TaxIndiaUpdates In0 comments4153 views

Valuation Rules for Accreted Income of Certain Trusts has been Notified vide CBDT Notification No. 32/2017, Dated: April 21, 2017 G.S.R.399(E). – In exercise of the powers conferred by section 295 read with section 115TD of the Income-tax Act, 1961 (43 of 1961), the Central Board of … Continue Reading →

Income Tax

Lease Rent from Buildings in an Industrial Park or SEZ is Business Income

April 26, 2017 TaxIndiaUpdates In0 comments3400 views

Lease rent from letting out buildings/developed space along with other amenities in an Industrial Park/SEZ- to be treated as business income. The issue whether income arising from letting out of premises / developed space along with other amenities in an Industrial Park/SEZ is to … Continue Reading →

Public News

Online Statement of Transaction and e-PRAN Card Launched for Atal Pension Yojana

April 25, 2017April 26, 2017 TaxIndiaUpdates In0 comments2632 views

Online Statement of Transaction (e-SOT) and the e-PRAN card launched for Atal Pension Yojana (APY) subscribers; More than 45 lacs subscribers to be benefited With a view to digitally empower the Atal Pension Yojana (APY) subscribers and improve the quality of service, the facility of online … Continue Reading →

Public News

IPL Cricket Betting Scam: CBI Files Case against Joint Director of Enforcement Directorate

April 22, 2017 TaxIndiaUpdates In0 comments2016 views

IPL CRICKET BETTING SCAM:- CBI FILES CHARGESHEET AGAINST THEN JOINT DIRECTOR, ENFORCEMENT DIRECTORATE AND NINE OTHERS INTO THE MATTER OF ALLEGED CRICKET BETTING CASE Press Release New Delhi, 20.04.2017 The Central Bureau of Investigation has filed chargesheet in the Court of Special Judge, CBI Cases, Ahmedabad (Gujarat) … Continue Reading →

Income Tax

Clarification on Removal of Cyprus from the list of Notified Jurisdictional Areas

April 21, 2017April 23, 2017 TaxIndiaUpdates In0 comments3444 views

Clarification on removal of Cyprus from the list of notified jurisdictional areas under section 94A of the Income Tax Act, 1961 CBDT Circular No. 15/2017, dated April 21, 2017 Subject: Clarification on removal of Cyprus from the list of notified jurisdictional areas under section 94A of … Continue Reading →