New Delhi, June 28, 2017

Revenue secretary Hasmukh Adhia has said that the ultimate goal of the government should be to move to a single- or dual-rate goods and services tax regime.

June 27, 2017

Many companies are lagging behind on preparations for the new lease accounting standard as they are still working on the revenue recognition standard, according to a pair of new surveys.

June 28, 2017

As India gears up to kick off GST from July 1, GST Network today sought to calm nerves in the wake of global cyber attack, saying its operations have not been affected and registrations have been going on smoothly.

New Delhi, June 28, 2017

Amends Rule 114 of Income-Tax Act which deals in application for allotment of PAN

The Government has made it mandatory to link the existing Aadhaar numbers with the PAN of taxpayers with effect from July 1.

June 28, 2017

In order to bring in transparency in the working of investment advisers and prevent conflict of interest that exists between advising and selling of investment products, the markets regulator has proposed a host of changes in the Investment Advisers (IA) Regulations, 2013.

New Delhi, June 27, 2017

Former Reserve Bank of India (RBI) Governor Bimal Jalan today said that inflation targeting cannot work in India. He added that it is because prices depend on a range of factors like monsoon and oil prices over which neither the central bank nor the government has any control.

New Delhi, June 27, 2017

Scams are mostly being sent through SMSes, WhatsApp and various social media platforms

Seeking to capitalise on the stock market rally, fraudsters are flooding gullible investors with unsolicited offers promising huge gains, prompting regulator Sebi to consider a closer coordination with banking and telecom regulators to check this menace.

Mumbai, June 26, 2017

The Reserve Bank of India shocked bank chiefs late on Friday by demanding a steep increase in provisioning requirements for loans being referred to the bankruptcy courts, a move likely to take a Rs 50,000-crore toll on their earnings this fiscal, said two bankers familiar with the order.

New Delhi, June 27, 2017

Finance Minister Arun Jaitley on Tuesday asked the Congress to refrain from indulging in politics over GST launch, saying all decisions with regard to the new tax regime were taken unanimously by the GST Council.

New Delhi, June 27, 2017

Revenue model of Rs 55 a month per assessee, with govts to split bill; will get Rs 550 cr this year

Filing a tax return on the Goods and Services Tax Network (GSTN) portal by an entity will cost Rs 55 a month but the state will bear this burden.

June 26, 2017

Auditing firms will be required to disclose the names of other firms that participated in an audit, starting Friday.

The Public Company Accounting Oversight Board issued a reminder Monday that the new requirement will be taking effect on June 30.

New Delhi, June 26, 2017

Buying cleaning liquids for ‘Swachh Bharat’ as part of corporate social responsibility or taking a business associate out for lunch, companies will be able to set off all taxes paid on their consumption of goods and services when they clear their own GST liability.

New Delhi, June 26, 2017

Come 2018 and the financial year in India could commence from January instead of April as the Centre appears set to make the historic transition to end the 150-year-old tradition.

New Delhi, June 26, 2017

To provide more time to e-commerce players to prepare for the Goods and Services Tax (GST), the Finance Ministry has said that tax deduction and collection at source under the new levy will be started at a later time.

New Delhi, June 26, 2017

Six of 21 PSU banks under corrective action, need higher capital to improve poor financial health

The finance ministry has made a case for pushing back the Reserve Bank's deadline for implementing Basel III banking norms in view of higher capital requirement to deal with bad loans which have reached unacceptable levels.

New Delhi, June 25, 2017

1-page form seeks details of deposits over Rs.2,00,000 from Nov 9 to Dec 30 last year

Filing income-tax returns for salaried individuals (with income up to Rs.50 lakh) just got simpler, with the Central Board of Direct Taxes (CBDT) coming out with a single-page form against the seven-page version that existed earlier.

New Delhi, June 25, 2017

Banks say relationship with customers with regard to lockers is that of landlord) and lessor

Do not expect any compensation for theft or burglary of valuables in safe deposit boxes of public sector banks as the locker hiring agreement absolves them of all liability.

New Delhi, June 24, 2017

The three revised notices are meant for procedures of limited, complete and compulsory manual scrutiny.

New Delhi, June 24, 2017

In further relief to Indian Railways, the goods and services tax (GST) Council has exempted the carrier’s inter-state movement of rolling stock such as coaches and locomotives. This is in addition to tax exemption that the railways got earlier for inter-state movement for repair and maintenance.

June 23, 2017

The government is going to implement laws in relation to GST and even though Centre says the intention is not to harass anyone, laws have to be obeyed.

June 23, 2017

Securities and Exchange Board of India (Sebi) on Thursday proposed to amend its norms for investment advisers. As per the new norm, investment advisors will have to segregate their advisory and product distribution businesses even as their registration rules would be relaxed.

Bengaluru, June 23, 2017

The incentive schemes designed for promotion of exports will continue even after the GST roll out from July 1, while the government may do away with the deemed export benefits, a top official said today.

June 23, 2017

The Ministry of Corporate Affairs has come out with a notification to raise threshold to Rs 50 crore

New Delhi, June 23, 2017

Earlier this month, Reserve Bank of India identified 12 accounts for insolvency proceedings