New Delhi, May 20, 2018

The revenue department has made unique identity number Aadhaar and PAN mandatory for persons seeking a customs broker licence, according to a notification.

New Delhi, May 20, 2018

So far only 12 states, including West Bengal, Gujarat, Madhya Pradesh, Rajasthan, Tamil Nadu and Uttar Pradesh, have issued notifications for setting up AAARs

Vadodara, May 20, 2018

The Institute of Cost Accounts of India (ICAI) has urged the centre as well as state governments in Gujarat, Rajasthan, Kerala and Haryana among others to make it compulsory for the co-operatives and PSUs to adopt cost auditing.

Mumbai, May 19, 2018

Sources said investigation was underway and the fraud amount was expected to go up to Rs 2 billion

May 18, 2018

Clients need more audit partners for real accountability.

New Delhi, May 19, 2018

Perhaps Bobby Parekh, employee number eight and the last India CEO of defunct Big Five firm, Andersen, is also the best flag bearer of ‘the Andersen Way’.

New Delhi, May 19, 2018

Mumbai-based Authority of Advanced Ruling (AAR) for the goods and services tax (GST) has held that payment made on account of ‘liquidated damages’ will attract an 18% GST as it is an independent levy which can’t be treated as reduction of the contract price.

New Delhi, May 19, 2018

Sebi said it has been advised by the CDAC to adopt a calibrated approach before opening up the commodity derivatives market

New Delhi, May 18, 2018

The Income Tax Department (ITD) today cautioned TDS deductors to adhere to the stipulated deadline of May 31 for filing their statements failing which they would invite a penalty of Rs.200 for each day of default.

New Delhi, May 18, 2018

The last date for filing of return in Form GSTR-3B for the month of April has been extended by two days.

May 18, 2018

Under the new rules, the system for monitoring the foreign investment limits in listed Indian companies will be implemented and housed at the depositories - NSDL and CDSL

New Delhi, May 17, 2018

The RBI today issued detailed NSFR guidelines to ensure that banks maintain a stable funding profile in relation to the composition of their assets and off-balance sheet activities.

May 17, 2018

Days after taking over the reins of Finance Ministry, Piyush Goyal has set his eyes on clearing the mess plaguing the banking sector.

New Delhi, May 17, 2018

India studied the Malaysian model before implementing the GST and borrowed the anti-profiteering clause to ensure GST benefits are passed on to the end-consumer by the industry

May 16, 2018

The IRS should provide a simplified adjustment procedure for partnership audits, the AICPA recommended in a letter to the IRS Chief Counsel’s Office on Wednesday, and should generally aim for maximum flexibility in adjusting the tax attributes of an audited partnership and its partners.

New Delhi, May 17, 2018

The Goods and Services Tax Network (GSTN) — which handles a mammoth taxpayer base (over 1 core at last count) and over 50 crore invoices every month — was bound to have some “teething problems”,

New Delhi, May 17, 2018

Coaching centres providing tuition to prepare students for entrance examination are liable to pay 18 per cent GST, according to the Authority for Advance Rulings (AAR).

New Delhi, May 16, 2018

The total investment via participatory notes (P-notes) into Indian capital markets plunged to nearly 9-year low of Rs 1 lakh crore in April amid stringent norms put in place by the regulator Sebi to check misuse of these instruments.

New Delhi, May 16, 2018

The delay in giving effect to an appeal and passing rectification orders is the biggest source of grievance against the department

Guntur, May 16, 2018

Merchants are using the confusion over different Goods Services Tax (GST) slabs to cheat consumers.

May 16, 2018

A new proposal would change accounting rules for federal government agencies with a goal of creating consistency in the accounting treatment and reporting for land holdings while considering user information needs.

May 15, 2018

The AICPA issued a working draft of an Accounting and Valuation Guide on Tuesday that provides guidance for financial reporting purposes regarding the accounting for and valuation of portfolio company investments of venture capital and private-equity funds and other investment companies within the scope of FASB Accounting Standards Codification (ASC) 946, Financial Services — Investment Companies.

New Delhi, May 16, 2018

To deepen the bond markets, regulator Sebi today proposed a uniform methodology to determine pricing of non-traded and thinly traded non-convertible debt securities.

New Delhi, May 16, 2018

As banks and financial institutions try to resolve the bad loan cases there is huge demand for insolvency resolution professionals.

New Delhi, May 15, 2018

In a setback to Google India, the Income Tax Appellate Tribunal has upheld a tax demand on the search engine's remittances of advertisement revenue to Google Ireland Ltd.