May 25, 2015

TRACES advice on correction of potential errors in TDS statement

As you may be aware, Centralized Processing Cell (TDS) intimates you of possible PAN Errors and Short Payment Defaults, through an Interme...

May 22, 2015

No PIN required for shopping with debit/credit card upto Rs. 2000

Reserve bank of India relax rule of additional security feature for making payment to merchant with debit or credit card. Now upto Rs. 200...

Draft scheme to determine ALP

Central board of direct taxes unveils draft rule to apply multi year's data and range concept to determine Arm's Length Price  of ...

Service tax will be charged at 14% from I June 2015

Finance Minister has purposed increasing service tax rate in budget speech but not notified when it will be applicable. Department of reve...

May 9, 2015

Banks will issue only chip based debit or credit card from 1 September 2015

Reserve bank of India issued a advisory note to banks to issue only chip based debit or credit card with effect from 1 September 2015 and ...

May 7, 2015

Bombay high court grants stay on levy MAT on FIIs

The Bombay High Court on 5 May 2015 has granted stay to one of the Foreign Institutional Investors ('FIIs') who filed a writ petit...

May 6, 2015

Progress on implementation of Pradhan Mantri Jeewan jyoti bima yojana and Pradhan Mantri suraksha bima yojana

Reserve Bank of India issued a circular no. 8/2015 dated 5 May 2015 about progress on implementation of Pradhan Mantri Jeewan Jyoti Bima Y...

Excise clarification on Cenvat Credit in transit sale through dealer

Central Excise department issued a clarification on cenvat credit in transit sale through dealer. Excise department issued a circular no. ...

LPG gas subsidy is not taxable as it is for welfare

Certain doubts have been raised in a section of the media about the applicability of the official amendment moved in the Finance Bill, 201...

May 5, 2015

New RPU version 1.1 in java platform

Tin.nsdl has launched latest return preparation utility version 1.1 in java platform for regular statements from financial year 2007-08 an...