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Monthly Journal
Monthly Journal covers articles on important topics, due dates, notifications/circulars/press releases/etc of the preceding month. It covers Income Tax, GST, Service Tax, Excise Duty, Custom Duty, Company Law, SEBI, RBI, Labour Law, IRDAI & Miscellaneous. Sample copy of May, 2017 is attached herewith for reference purpose. Sample Copy Available. To subscribe: Click Here
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Income Tax
Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
Circular No. 01/2018 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 10″ of January, 2018 Order under section 119 of the Income-tax Act, 1961 Subject: Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-l to 6 & applicability of section 143(1)(a)(vi)-reg.- Sub-clause (vi) of clause (a) of sub-section (1) of section 143 of the Income-tax Act, 1961 (‘Act’) as introduced vide Finance Act, 2016, w.e.f. 01.04.2017, while processing the return of income, prescribes that the total income or loss shall be [..] Read more at:
Income Tax Department steps up actions under Prohibition of Benami Property Transactions Act – Benami properties of more than Rs. 3500 crore attached
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 11th January, 2018 PRESS RELEASE Income Tax Department steps up actions under Prohibition of Benami Property Transactions Act : Benami properties of more than Rs. 3500 crore attached The Income Tax Department has stepped up actions under the Prohibition of Benami Property Transactions Act (the ‘Benami Act’), which came into force w.e.f 1st November, 2016. The Act provides for provisional attachment and subsequent confiscation of benami properties, whether movable or immovable. It also [..] Read more at:
SEBI
Prevention of unauthorized trading by stock brokers
CIRCULAR CIR/HO/MIRSD/MIRSD2/CIR/P/2018/09 January 11, 2018 To All recognized Stock Exchanges Dear Sir/ Madam, Sub: Prevention of Unauthorised Trading by Stock Brokers 1. SEBI vide circular No. CIR/HO/MIRSD/MIRSD2/CIR/P/2017/108 dated September 26, 2017 had prescribed guidelines for prevention of unauthorised trading by stock brokers and issued subsequent clarification vide CIR/HO/MIRSD/MIRSD2/CIR/P/2017/124 dated November 30, 2017. 2. SEBI has now received representations from BSE Brokers Forum and Association of National Exchanges [..] Read more at:
RBI
Interest rates for Small Savings Schemes
RBI/2017-18/120 DGBA.GBD.1781/15.02.005/2017-18 January 11, 2018 All Agency Banks handling Small Saving Schemes Dear Sir Interest rates for Small Savings Schemes Please refer to our circular DGBA.GBD.954/15.02.005/2017-18 dated October 12, 2017 on the above subject. The Government of India, had vide their Office Memorandum (OM) No.F.No.01/04/2016–NS dated December 27, 2017 advised the rate of interest on various small savings schemes for the fourth quarter of the financial year 2017-18 (copy enclosed). 2. The contents of this circular may be brought to the notice of the branches [..] Read more at:
http://www.onlinelawsolutions.com/index.php/2018/01/12/interest-rates-for-small-savings-schemes-2/
ICAI
CA Final, CPT and ISA results likely to be declared on 17th January
For CA Final & CPT: The result of the Chartered Accountants Final Examination held in November 2017 and Common Proficiency Test (CPT) held in December 2017 are likely to be declared on Wednesday, the 17th January 2018 around 2.00 P.M. and the same as well as the merit list (candidates securing a minimum of 55% and above marks and upto the maximum of 50th Rank in the case of Final Examination in accordance with the decision of the Examination Committee) on all India basis will be available on the following websites: icaiexam.icai.org caresults.icai.org icai.nic.in Arrangements have also been made [..] Read more at:
Miscellaneous News
Ministry of Railway launches Smart Freight Operation Optimisation & Real Time Information (SFOORTI) Application
Both passenger and freight trains can be tracked over Zones/Divisions/ Sections can be viewed through this application. Position of Rakes for Specific Type of Stock can be viewed through this application. In a major digital initiative to help plan the traffic flows and optimize freight operations, Ministry of Railways have launched Smart Freight Operation Optimisation & Real Time Information (SFOORTI) App for Freight Managers which provides features for monitoring and managing freight business using Geographic Information System (GIS) Views and Dashboard. Salient features of SFOORTI Application are as below [..] Read more at:
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