Your cashbacks can be taxable. Here's what you need to know

Diwali and Dussehra just passed and during the festive season retailers online as well as offline retailers offered various discount and cashback offers. Most online retailers offered some sort of cashback deals to their customers. These cashback offers seem like a good chance of saving some money on your shopping but do you know that it could also warranty an income tax notice.
Yes, for those who are not aware, cashbacks could be taxable in certain situations and if you do not

Income Tax Department raids Deepak Fertilisers and Petrochemicals Corporation's office premises, plants

Deepak Fertilisers and Petrochemicals Corporation on Friday said the Income Tax department was carrying out search and seizure operations in the company's office premises and plants since on

Fake bill racket: GST consultant behind the scam

---

The accused in the scam reportedly made use of a window set by the Centre for registering new companies under the new GST regime

BENGALURU: As officials make new inroads into the massive fake invoice scam, said to be one of the largest in the country, it is now learnt that a tax consultant, Suhail, was behind the racket. Suhail,

Complexities of GST refund

It has been more than a year since the introduction of the landmark tax reform in the history of indirect taxes. The complexities in the newly introduced taxation system have increased despite multiple reforms in the law and the GSTN portal. The Government has been pro-actively

MCA and NFRA invites application from Chartered Accountants

MCA and NFRA invites application from Chartered Accountants based in Delhi/NCR having 2 to 5 years of post-qualification experience as Consultant in MCA Offices/ RD Offices/ ROC Offices/ NFRA Offices in compliance, Investigation and

Changes in E-way Bill effective from Today 16th November 2018

Changes in E-way Bill effective from Today (16th November 2018)

The National Informatics Centre E-way Bill Project has published a list of improvements in the E-way Bill under the Goods and Services Tax ( GST ) regime. The changes would be applicable with effect from 16th November 2018. As per the document issued by the NIC, the following changes will

Vacancy for CA/CMA in National Institute of Technology

Click here to apply

Assistant Registrar No. of post: 01-UR Group: A Pay Scale: Level 10 (Rs 56,100/-) Method of Recruitment: Direct Qualification: Essential: Masters degree in any discipline with at least 55% marks or its equivalent Grade in the CGPA/UGC with good academic record from a recognized University/Institute. Or Employee of the institute serving as superintendent (SGI) PB-2 with GP Rs.5400/- or Superintendent (SG 2 with GP Rs.4800/- or Private Secretary (NFG) PB with GP Rs. 5400/- or Private Secretary PB Rs. 4800/- with at least 5 years combined regular service in both the grades with master’s degree, and working performance record (APAR). Desirable: i) Qualification in area of Management /Engineering Law. ii) Experience of working in E-Office System. iii) A Chartered or cost Accountant for the post of Assistant Registrar (Finance & Accounts) Age Limit: Not exceeding 35 years

Read more at: http://www.freshershome.com/jobs/detail/government-job-notifications/140947?action=search&offset=2175#sthash.uH239j.dpuf

Assistant Registrar No. of post: 01-UR Group: A Pay Scale: Level 10 (Rs 56,100/-) Method of Recruitment: Direct Qualification: Essential: Masters degree in any discipline with at least 55% marks or its equivalent Grade in the CGPA/UGC with good academic record from a recognized University/Institute. Or Employee of the institute serving as superintendent (SGI) PB-2 with GP Rs.5400/- or Superintendent (SG 2 with GP Rs.4800/- or Private Secretary (NFG) PB with GP Rs. 5400/- or Private Secretary PB Rs. 4800/- with at least 5 years combined regular service in both the grades with master’s degree, and working performance record (APAR). Desirable: i) Qualification in area of Management /Engineering Law. ii) Experience of working in E-Office System. iii) A Chartered or cost Accountant for the post of Assistant Registrar (Finance & Accounts) Age Limit: Not exceeding 35 years

Read more at: http://www.freshershome.com/jobs/detail/government-job-notifications/140947?action=search&offset=2175#sthash.uH239j.dpuf

CHARTERED ACCOUNTANTS AUDIT FIRMS FOR CARRYING OUT THE AUDIT OF CONSUMERS’ ACCOUNTS MAINTAINED AT Dakshin Haryana Bijli Vitran Nigam Limited

• Dakshin Haryana Bijli Vitran Nigam Limited, multi location (27 Oct 2018) ENGAGEMENT OF WELL ESTABLISHED, REPUTED AND EXPERIENCE CHARTERED ACCOUNTANTS AUDIT FIRMS FOR CARRYING OUT THE AUDIT OF CONSUMERS’ ACCOUNTS MAINTAINED AT VARIOUS SUB DIVISIONS.
  Address :
  

Six income tax-saving investments under Section 80C

Under Section 80CCD(1), investment in NPS up to Rs 1.5 lakh qualifies for income tax deduction.

In a few months time, the accounts department of your organisation will seek proof of your income-tax saving investments under Section 80C and other deductions. PPF (public provident fund), ULIP (Unit Linked Insurance Plan), ELSS mutual funds (Equity Linked Savings Schemes), National

GST: HC allows adjustment of wrong payment

In what is seen as a major relief for GST assessees, especially dealers, the Kerala High Court has ruled that any GST mistakenly paid under one head can be adjusted under the correct head.
While noting that it sees no difficulty for the tax authorities to allow the petitioner’s request and get

All you need to know about tax benefits for senior, super senior citizens

Income tax laws in India have been framed so as to provide senior citizens with the maximum possible income tax benefits. Some significant benefits available to senior citizens (above 60 years of age) and super senior citizens (above 80

Casio launches two GST calculators, price starts at Rs 398

Japan-based electronics company Casio has expanded its product portfolio in India with the launch of two new GST calculators in India. These include MJ-120 GST and MJ-12GST priced at Rs 398 and Rs 475 respectively. Both calculators

Vacancy for CA in Colgate-Palmolive

Date: Nov 9, 2018

Location: Mumbai, MH, IN

Colgate-Palmolive is a leading global consumer products company, tightly focused on Oral Care, Personal Care, Home Care and Pet Nutrition. Colgate sells its products in over 200 countries and

Vacancy for CA in Dell

Role Overview
IT Finance is looking for a Sr. Analyst, Financial Analysis to join our team in Bangalore to support L4 Segments.The primary responsibilities are managing the Opex budgets through resource level costing, Outside Services spend management, Forecast planning, Close reporting and Outlook consolidation. It further involves working closely with the segment finance controller and strategist

Builders feel the GST pinch, rush to finish high-end projects

Mumbai: Property developers are rushing to complete high-end residential projects as buyers prefer ready-to-move-in homes to save on goods and services tax (GST) for under-construction projects. 

Big and mid-sized real estate firms with healthy credit lines are speeding up

Vacancy for CA in JP Morgan Chase

Req #: 180098034

Location: Mumbai, MH, IN

Job Category: Accounting/Finance/Audit/Risk

Analyst for UK Legal Entity Control Team that includes the following functions:

 

·         FX Trade- out

·         Monitoring the integrity of the local and US books and records of the legal entity, to be executed with reference to the Legal Entity Control Standards policy and other applicable global policies, escalating issues as appropriate.

·         Perform detailed analysis of the balance sheet and P&L variances.

·         Liaise with various internal stakeholders

Whether unclaimed foreign tax credit be allowed as deduction under section 37(1)

Introduction

1. The government of the day has set-up a new task force for revising decades old Income-tax Act. The new Act will be drafted to remove the present ambiguities and to bring it at par with the International best practices. One such contentious and debatable issues existing in the Income-tax

Vacancy for CA/CMA in Amazon

Finance Analyst II

Location IN-KA-Bangalore

Posted Date 12 hours ago(05-11-2018 13:04)

Job ID

739556

Company

ADCI - Karnataka

Company/Location (search) : Country (Full Name)

India

Job Description

• Responsible for Planning, Forecasting, and Decision Support & Management reporting related

DIWALI GIFTS: IS ITC AVAILABLE? - Input Tax credit on Gifts for Diwali

---

DIWALI GIFTS: IS ITC AVAILABLE?

Diwali is the time to gift to your friends, family, employees, customers and clients.

Let us have a look whether ITC is available for purchase of Diwali gifts for vendors, customers or consultants.

Section 16: Taxpayer is entitled to take ITC on tax charged on supply of goods or services which are used in the course of furtherance of business. In the course of furtherance of business: an act of

75 lakh new tax filers added to income tax list this fiscal

CBDT had set the adding of 1.25 crore new tax filers target for the taxman this fiscal.

About 75 lakh new tax filers have been added to the income tax payers list in the country this fiscal till now, a senior official said. The target for the taxman is to add 1.25 crore fresh tax filers by the end of the 2018-19 financial year that ends in March next year, as per a directive of the Central Board of Direct Taxes (CBDT).
The CBDT frames policy for the Income Tax Department (ITD).
"About 75 lakh fresh tax fliers have been added to the income tax list till now in this fiscal. A number