The Government (Department of Financial Services) is considering a convenient and affordable health insurance scheme for senior citizens aged 60 years and above for secondary and tertiary treatment cover of Rupees One Lakh per annum. The scheme would involve annual cover, renewable from year to year. Treatment would be cashless. The new product would be…
DetailsITR Forms are developed using the latest in JAVA technology and effort has been made to make it user friendly, simpler and faster preparation of tax returns. This utility can be run on operating systems like Windows 7.0 or above and latest Linux, where Java Runtime Environment Version 7 Update 6 (jre 1.7 is also…
DetailsThe Central Board of Excise and Customs had issued detailed guidelines in 2009 to its field formations on conducting detailed manual scrutiny of service tax returns. In view of the legal changes brought about by the Negative List based taxation of services and administrative changes like creation of separate Commissionrates for Audit etc, these guidelines…
DetailsF No 213/CIT(OSD)(S)12014-15/CPC-ITRV Issues Government of India, Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 112015 under the CPC Scheme 2011 New Delhi Dated the 10th of July 2015 Extension of time limit for submitting ITR-V for electronically filed returns for A.Y. 201314 and A.Y. 2014-15. In exercise…
DetailsThe Competition Commission of India(CCI)has imposed a total penalty of Rs. 671.05 crores upon4 Public Sector Insurance Companies for manipulating the bidding process initiated by Government of Kerala for selecting insurance service provider for Rashtriya Swasthya Bima Yojna for the years 2010-11, 2011-12 and 2012-13. The final order was passed by CCI on10.7.15 in a…
DetailsCBDT has introduced new mechanism to verify ITR on the basis of following method: 1. Net Banking 2. ATM 3. Aadhaar No. 4. Email ID and Mobile No. For verification of ITR, this year “Electronic Verification Code” (EVC) has been introduced. “Electronic verification code” means a code generated for the purpose of electronic verification…
DetailsIn keeping with the Digital India vision of Hon’ble Prime Minister, and taking yet another small but crucial step towards paperless, online functioning in 24×7 environment, Directorate General of Foreign Trade (DGFT) today launched the facility of online payment of application fees through Credit/Debit cards and electronic fund transfer from 53 Banks (List annexed). The…
DetailsMr. Shaktikanta Das, Revenue Secretary of India and Mr. Richard Verma, U.S. Ambassador to India signed here today , an Inter Governmental Agreement (IGA) to implement the Foreign Account Tax Compliance Act (FATCA) to promote transparency between the two nations on tax matters. The agreement underscores growing international co-operation to end tax evasion everywhere. The…
DetailsCBDT asked its compliance officers to file appeal in court only on merit basis. It also mentioned some of the cases where court did not found any merit in case and finally decided in favour of assessee. It mentioned that besides financial costs, litigation also entails tarnishing the image of the Department and straining…
DetailsCentral Govt. has authorised 7 entities to issue tax-free, secured, redeemable, non-convertible debentures bonds during Financial Year 2015-16. Govt. has also mentioned the conditions as to eligibility, tenure of bonds, rate of interest, issue terms manner of repayment of bonds. Complete details of notification are given below: CONDITIONS 1. Eligibility – The following…
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