E India CA

Professional Updates for Chartered Accountants

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UP RERA issued show cause notices to 12 builders for diverting Rs. 3,000-Crore funds based on report submitted by Currie & Brown

The Uttar Pradesh Real Estate Regulatory Authority or UP RERA has issued show cause notices to almost a dozen real estate developers who have allegedly diverted about Rs 3000 crore to Rs 4000 crore worth of home buyers’ money and delayed completion of housing projects, sources said. “We are in the process of issuing show cause n...

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Govt can’t take away RBI reserves without amending RBI Act

The government cannot force the central bank to part with its reserves without an amendment to the Reserve Bank of India Act, 1934, a person aware of the matter said. Under Section 47 of the RBI Act, only surplus profits can be transferred, and transferring reserves will require an amendment to the Act. Section 47 says that “aft...

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E India CA: Seminar on GST and Income Tax on Tuesday, 20th Nov’18

Greetings from E India CA! E India CA invites you to Interactive Seminar on GST and Income Tax Assessment (including e-asssessment)/Re-assessment as per below details: on Tuesday, 20th November 2018 from 5.00 PM to 8.30 PM Session Details Precautions & Issues in Income Tax Assessments/reassessments (including e-asses...

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The Central Government has notified the NAFRA: National Financial Reporting Authority Rules, 2018 on the 13th of November 2018.

In exercise of the powers  conferred under sub section (2) and  (4) of section 132, sub section (1) of section 139 and sub section (1) of  section 469 of the  Companies  Act , 2013 (18 of 2013), the  Central Government has made  the National  Financial Reporting Authority  Rules, 2018. Ministry of Corporate Affairs has notif...

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Modi launches APIX technology; what it is, how it will help 2 billion people without bank accounts globally

In a bid to reach two billion people worldwide who are still without bank accounts, Prime Minister Modi launched the APIX (Application Programming Interface Exchange), a banking technology platform in Singapore Wednesday. The technology platform was launched by Modi along with Deputy Prime Minister of Singapore T Shanmugaratnam ...

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Demonetisation: 80,000 being chased by I-T for large cash deposits

The income-tax department (I-T) is ‘chasing’ 80,000 persons who had deposited cash during demonetisation period which didn’t match their income profile, chairman of central board of direct taxes (CBDT) Sushil Chandra said on Wednesday. The income-tax department (I-T) is ‘chasing’ 80,000 persons who had deposited cash dur...

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All About Proposed Simplified GST Returns – Sahaj And Sugam

With the introduction of Goods and Service Tax (GST), there had been a tremendous increase in the numbers of returns to be filed by the registered taxable person. Due to the increase in the number of returns and the complex return filing process, there had been a remarkable increase in compliance cost which is duly affecting the day ...

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Withdrawal rules for your provident fund account

Provident Fund is a product which helps salaried people to accumulate funds while they are earning for the period the income flow stops. So generally it is not supposed to be withdrawn before its maturity and jeopardise one’s retirement. However there are circumstances when resorting to the money accumulated in the Provident Fund a...