E India CA

Professional Updates for Chartered Accountants

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Cabinet approval for changes in 35 year old Consumer Protection Act, 1986

नई दिल्ली. केंद्रीय मंत्रिमंडल ने सोमवार को कंज्यूमर प्रोटेक्शन एक्ट 1986 में बदलाव को मंजूरी दे दी है। इस संशोधित बिल में ग्राह...

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ITR Filing: changes that will impact the tax filing

Delayed Form 16 You will not be getting your Form 16 on time this season. “When employers deduct TDS they have to deposit it to the government and submit Form 24Q for the same. The format of Form 24Q and Form 16 recently changed," said Archit Gupta, founder, Cleartax. The government has hence revised the due date of submission o...

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Higher 80C Deduction limit expected in Budget 2019

With less than a month to go before the Budget is announced, there are wide speculations on what the new finance minister will announce for the common man. Tax collections in fiscal year 2018-19 have fallen short of the Budget expectations by 7.4% and ambitious healthcare plans, loan waivers to farmers and other subsidies promised by...

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Budget 2019: Good opportunity to improve investor confidence

In order to meet its commitment of making the corporate tax rate in India comparable with other Asian economies by 2019, the govt should make 25% as the single rate of tax for all firms The government is expected to introduce the Direct Tax Code (DTC) in line with internationally accepted best practices The voters have del...

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Two creditors take Jet Airways to NCLT

Shaman Wheels Pvt Ltd and Gaggar Enterprises Pvt Ltd have filed two separate insolvency pleas against Jet Airways The insolvency petitions may push other lenders to join the petition as financial creditors for recovery of their dues With banks still making efforts to revive cash-strapped Jet Airways, two operational creditors have ...

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Companies to take GST audit exam; Experts want no penal action

NEW DELHI: India Inc. is gearing up to face the first test of their goods and services tax filings, with the authorities looking to initiate audits by picking up returns for risk-based assessment from July. “There is a direction that the audits should begin in July,” a government official said. The audit is significant because ...

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No anticipatory bail, GST violators can be arrested without FIR, clarifies SC

The Supreme Court suggested to the high courts on Wednesday not to grant anticipatory bail to those who default on the goods and services tax, reminding them that the SC has upheld the Telangana HC’s decision not to grant bail to such defaulters. A division bench of the Telangana HC had on April 18 upheld the authority and power o...

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New NBFC norms may affect credit growth, trigger consolidation

Acentral bank proposal to introduce liquidity buffers for non-banking financial companies (NBFCs) may crimp their ability to lend in the short term and trigger consolidation among weaker non-banks. The Reserve Bank of India (RBI) on 24 May said it planned to implement liquidity coverage ratio (LCR) in a phased manner over four...