E India CA

Professional Updates for Chartered Accountants

By

Loan against mutual fund units: All you need to know

Mutual fund investors can avail credit against their mutual fund investments. Loan against mutual fund units is in the form of an overdraft facility and interest is charged only on the amount availed as credit. Online/offline modes  The loan can be availed via online or offline modes. Application process involves marking of lien o...

By

Infosys announces Rs 8,260 cr buyback; to offer special dividend

New Delhi, Jan 11 () Infosys on Friday said it will buy-back shares worth up to Rs 8,260 crore and offer shareholders a special dividend of Rs 4 per share as part of the company's Rs 13,000 crore-capital allocation policy. The board has also approved the re-appointment of Kiran Mazumdar -Shaw as the Lead Independent Director ...

By

Kerala HC stays GST provisions on TCS

The GST provision has hit car dealers particularly hard as they collect 1% TCS from buyers purchasing cars worth over Rs 10 lakh. The Kerala High Court through an interim order has stayed the GST provision which mandates that tax collected at sources (TCS) by the supplier — according to provisions of the Income Tax Act — must be...

By

CBDT asks tax officials to speed up withdrawal of appeals cases

NEW DELHI: Apex direct taxes body, the Central Board of Direct Taxes, has cracked down on the delay in withdrawal of tax litigations in Income Tax Appellate Tribunal and High Courts and asked officials to expedite the process. The board has shot off a letter to field officers, asking them to complete the exercise by January end. ...

By

Booth Detail-ICAI Elections 2018

Elections booths -2018...

By

‘Please take it’: Vijay Mallya offers to ‘repay 100%’ to banks

Businessman Vijay Mallya, undergoing extradition trial in a UK court over fraud and money laundering charges by Indian authorities, has offered to pay back “100% of the principal amount” owed to banks. In a series of tweets, Mallya, said: “I am offering to pay 100% back. I humbly request the banks and government to take it.” ...

By

New direct tax code won’t change income tax slabs, rates

Prime Minister Narendra Modi’s parting shot in policymaking before 2019 Lok Sabha elections—the draft direct tax code—is likely to be a strong message about stability and certainty in taxation rather than any structural shift. The tax code, therefore, will not propose tax rate changes or tax slab revisions. Instead, it will...

By

New I-T draft by Feb 28; Finance Ministry names task force head to write direct tax code

Ahead of the interim Budget and general elections early next year, finance minister Arun Jaitley on Monday held a closed-door meeting with industry captains to discuss the current economic environment and the steps being taken by the government to address emerging issues. The meeting was organised by industry body CII. Later in th...