E India CA

Professional Updates for Chartered Accountants

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TDS, TCS for GST kick-in from October 1: Deduction, registration, compliance, challenges

The GST law requires TDS to be deducted by certain specified Government bodies/ PSUs, where the total value of supply, under a contract, exceeds Rs. 2,50,000.After the GST regime gained momentum, the government decided to introduce TDS and TCS provisions. The GST law requires TDS to be deducted by certain specified government bodies/...

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PM Modi Launches Mega Health Scheme Aimed At 50 Crore Indians: 10 Points

Prime Minister Narendra Modi on Sunday launched what is billed as the world's largest government-funded healthcare programme - the Ayushman Bharat, which would benefit 50 crore Indians. Launching the scheme, dubbed "Modicare", from Jharkhand capital Ranchi, he called it "a big step towards providing good quality and accessible heal...

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Rupee gains against dollar as govt hikes import duties

The Indian rupee on Thursday strengthened against the US dollar after the government increased tariffs on imported goods to narrow current account deficit. At 9.15am, the rupee was trading at 72.40 a dollar, up 0.30% from its Wednesday’s close of 72.62. The home currency opened at 72.41 per dollar. The 10-year gilt yield stood at 8...

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ITR and Tax Audit Due date extended to 15th October’2018

F.No.225/358/2018/ITA.1I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North-Block, ITt· II Division New Delhi, the 24'h of September, 2018  Order under Section 119 of the Income-tax Act. 1961 On due consideration of representations from various stakeholders for ex...

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Relief for FPIs as SEBI eases KYC guidelines

The Securities and Exchange Board of India (Sebi) on Friday relaxed know-your-client (KYC) requirements norms for foreign portfolio investors (FPIs). After considering the interim recommendations of the Sebi working group under the chairmanship of Harun R. Khan, a former deputy governor of the Reserve Bank of India, the capital mark...

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RBI to seek changes in pension regulations

The Reserve Bank of India (RBI) is preparing a list of recommendations to be sent to the Union government seeking amendments to RBI Pension Regulations, said two people aware of the development. While RBI retirees used to receive pension in line with central government employees, the scheme was withdrawn by the government in 2008. T...

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Jaitley proposes additional cess under GST to help flood-hit Kerala

Finance Minister Arun Jaitley has proposed additional cess on select commodities under GST to raise funds to help Kerala tide over the damages caused due to floods, a state minister said on Friday. The proposal of levy of cess is expected to come up for discussion at the GST Council meeting on September 28. "Kerala welcome...

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Opinion | In Rana Kapoor, RBI has a message for banks

By denying a full three-year term to Yes Bank Ltd. Chief Executive Officer Rana Kapoor, India’s banking regulator has sent stern messages to not one or two, but five constituencies. The first wake-up call is for the CEOs themselves: To preserve their equity interest in a bank, they’re free to chase higher price-to-book multipl...