News Update by CA Raj Chawla (06-01-2019)

Behavior is sometimes greater than knowledge, because in life there are many situations where knowledge fails but behavior can handle everything.

You dont have to fix everything thats’s broken, Sometimes you just have to throw it away, move on and find something better.

CBDT issued Circular No.1/2019: ​Income-tax Deduction from salaries during the Financial Year 2018-19 under section 192 of the Income-tax Act, 1961. 1 January 2019.

Finance Ministry has allowed businesses to claim input tax credit benefit for the first financial year of GST roll out, till March 2019, provided it matches with the return filed by their suppliers. The deadline for claiming input tax credit (ITCNSE 0.39 %) ended on October 25, 2018.

Government could be staring at a shortfall in GST collection of anywhere between Rs 500 billion and Rs 1 trillion this fiscal, according to estimates put out by analysts over the last month.

Sebi has come out with rules for merger of foreign portfolio investment (FPI) and non-resident Indian/overseas citizens of IndiaI’m routes to bring in a single regime for foreign investors and regulate NRI and person of Indian Origin fund inflows.

DIPP clarified that The FDI rules for e-commerce have not allowed foreign investment in the inventory-based model or multi-brand retailing.

The Institute of the Chartered Accountants of India ( ICAI ) has sent a notice to two news media, one for publishing a cartoon mocking the Chartered Accountants and second for publishing an article disreputing the CA profession.

Regards
CA Raj Chawla