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Wednesday , October 26, 2016 | Updated : Oct 26, 12:29 IST
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I-T - Time limit for processing of 'returns with refund claims' relaxed till March 31, 2017 in non-scrutiny cases (See 'Instruction' in 'Income Tax') Doing Business 2017 - India Improves, but still at the bottom(See 'DDT' Column) I-T - Whether interest earned on money lending is to be taxed as profits of bussiness rather than income from other sources even if assessee is not NBFC - NO: HC (See 'Breaking News') India has embarked on an ambitious reform path World Bank Report (See 'DDT') ST - Revision powers were sought to be invoked under non-existent provision and hence review undertaken by Committee of Chief Commissioners is without jurisdiction - Revenue appeal rejected: CESTAT (See 'Breaking News') India the first economy in the world with a quantified and legislated Corporate Social Responsibility (CSR) requirement (See 'DDT') Cus - Without any SCN specifically proposing absolute confiscation of gold, giving finding that seized gold is liable for absolute confiscation, is incorrect on part of adjudicating authority: CESTAT (See 'Breaking News') Ease of Doing Business - Documentary compliance + India Committed to Improving its Doing Business (See 'DDT') Chief Information Commissioner has authority to transfer State Information Commissioners: Bombay HC Compensation for land acquired under RFCTLAAR - Not taxable, clarifies CBDT (See 'Cir 36' in What's New) Settlement Commission for Income Tax + Customs and Excise - ACC appoints three + six IRS officers as Members respectively Awards to taxpayes - CBDT issues second round of Certificates to 10.15 lakh tax payers (See 'Mixed Buzz') China says no plan to hike Income Tax rate ACC okays upgradation of DG Shipping post held by Deepak Shetty to Secretary-level Foreign Direct Investment Policy on Other Financial Services (See 'Press Note' in FEMA) Mutual Fund Agents/Distributors - Are they eligible for small scale exemption in 2016-17? (See 'DDT' Column) I-T - Whether legislature can intend to give rise to two parallel orders pertaining to same period of assessment by two authorities, both may be competent at time when they were passing orders - NO: HC (See 'Breaking News') ITC in GST - Bring in Capital Services(See 'ST se GST tak') Customs - Duty exercised by Chemical Examiner of Central Laboratory (CRCL) is statutory duty - Report has to be treated as public record and question of permitting cross-examination of said officer does not arise: HC (See 'Breaking News') GST - 'Four Rates Fine' says Arvind Panagariya; 'Disastrous' says Chidambaram (See 'DDT') I-T - Whether services rendered by assessee in capacity of sub-contractor can be considered as export of services rendered in form of technical knowhow to a entity based outside India, so as to claim deduction u/s 35B - NO: HC (See 'Breaking News') TDS - SMS Service for salaried launched; to be extended to 4.4 Cr non-salaried soon (See 'Mixed Buzz') ST - Passing Orders taking hyper technical views should be avoided for they unnecessarily increase workload of Court - CC should have guided Commissioner (A) in meetings: HC (See 'Breaking News') ATM Cards Misuse few - But do change the PIN - RBI (See 'DDT') GST Council to take up issue of inclusion of petrol & diesel at next GST Council meet: Petro Minister Cyrus Mistry sacked; Ratan Tata comes back as Chairman of Tata Group GST payment can be made using debit or credit card: Revenue Secretary CBDT releases draft rules for valuation of fair market value (See 'What's New') FM to launch SMS Service on TDS deduction for salaried employees today RBI likely to float bank notes of Rs 2000/- denomination
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TIOL PROFILE ("TIOL"), established in May 2000, is a reputed and FIRST Govt of India (Press Information Bureau) recognised ONLINE MEDIA and resource company providing business-critical information, analyses, expert viewpoints, editorials and related news on developments in fiscal, foreign trade, and monetary policy domains.  Our business has enabled our growing audience and subscriber-base, comprising of multinational and domestic corporations; service providers such as lawyers, consultants, and accounting firms; Governmental ministries and departments; officials connected to revenue, taxation, and commerce; and a growing number of foreign users who are active or keen to do business with India, to have access to accurate, and understandable analyses of essential but otherwise complicated and difficult-to-obtain information. 

TIOL’s salient feature has been its ability to bridge ongoing communication gaps that exist between policymaking, policy interpretation, and policy application.  We interpret, simplify, and effectively disseminate in-depth analyses of not only policies and notifications from the various fiscal departments of the Government, but also of precedent-setting tax and trade case judgments from the various courts and tribunals in the country. Due to the widening net of taxation and compliance, ongoing modifications in trade policies, and onerous penalties for non-compliance, the durability of our core business proposition continues to be strengthened. Our business is positioned to grow in tandem with the urgent requirements of a rapidly enlarging audience not only in India, but abroad as well.

We are the acknowledged pioneers in our field, regarded as the legitimate online resource provider in our domain. Our credibility and leadership position has been steadily earned over almost sixteen years since we commenced operations, and has been achieved through our proven ability to deliver resource information on a timely basis, along with meaningful editorial content which includes commentaries by a number of high-ranked experts available on TIOL Panel. Our approach emphasizes good ethics, characterized by its neutrality and fairness; this key ingredient has contributed to our loyal viewer-ship, our growing base of customers, and our overall business reputation. Much of our audience and customers believe, on account of the wide compass and depth of our coverage and services, that we are a large corporate entity - our public perception is indeed larger than our actuality.

Underscoring the value of our business premise is the fact that we have amongst the active users of our services, the Ministry of Finance which sets the fiscal policies for the country, The Ministry of Commerce which sets the trade policies for the country, the Reserve Bank of India which tailors the Monetary Policy, and the Big accounting firms, including the 'Big Four' who subscribe to our information packages and use these as a critical resource tool in order to effectively provide their services.  Our services are used by key policy decision makers for inputs on policy-making; by corporate management for airing their grievances caused by flawed policies; and by journalists and other media companies as a research tool.

We pride ourselves as a dynamic, adaptive & learning organization. As individuals and as a company we operate within our values, on account of which we have enjoyed our ten-year journey, and have made an impact. Our values may be encapsulated as follows:

  • To build and maintain an environment of trust, everyone counts, everyone contributes;

  • To drive innovation to results through teamwork.

  • To form strategic relationships with partners who share our values, bring intellectual capital to support our vision and ideals;

  • Above all, always take the high road.

Editor-in-Chief: Vijay K. Kumar enjoys a substantial reputation in issues pertaining to indirect taxation. He has written several articles on Central Excise, Customs, Service Tax and allied matters for the Excise Law Times and for TIOL. He has also authored popular books in their field titled "Guide To Excise Valuation" and "Excise on Textiles". Prior to joining TIOL, his experience includes 22 years with the Central Board of Excise & Customs. He is a practicing tax lawyer and assists TIOL in handling client issues pertaining to legal tax consulting as well.  He holds a Master in Arts, and Degree in Law. He also authors a Daily column, popularly known as DDT (Daily Dose of Taxation). His DDT Column has found a place in the Limca Book of Records as the longest running Daily Column on Taxation for fifth year in a row.


CEO & Managing Editor: Shailendra Kumar, founder and CEO of TIOL started his career with The Indian Express Newspaper in 1990 and then moved on to The Economic Times where he worked for more than five years before taking the entrepreneurial route to launch TIOL, an idea based on business needs which he realized as a financial journalist. His vision was to create a knowledge-driven company which eased the burden on corporations & acted as a media watchdog for Indian tax and trade policies. He spearheads the business in all of its facets, including regular interactions with various policy makers and administrators, and managing the editorial and news gathering team at TIOL. Mr. Kumar holds a Bachelor of Economics Honours degree from the University of Delhi, and has a Post Graduate Degree in Mass Communication from the Indian Institute of Mass Communication. He was the recipient of the 2001 Outstanding Media Professional Award presented by the India International Professionals Forum. He is also the First Recipient of CERTIFICATE OF MERIT conferred by the World Customs Organisation headquartered at Brussels. He writes a much-awaited and widely-acclaimed weekly column for TIOL - The Cob(Web).

TIOL Awarded WCO Certificate of Merit
It's Raining Black

He has also authored a book "It's Raining Black! Chronicles of Black Money, Tax Havens and Policy Response" that talks about policy measures framed by the government to tackle the menace of illegal funds in the country and abroad. It also contains anecdotal incidents of action undertaken by various financial law enforcement agencies like the Central Board of Direct Taxes (CBDT), Enforcement Directorate (ED) and Department of Revenue Intelligence as part of their mandate. The book is a compilation of the articles he wrote on Black Money in his weekly column "The Cob(Web)" published every Thursday on The book is published by LexisNexis has a foreword by the Chairman and Vice Chairman of the Special Investigation Team, Justice (retd) M B Shah and Justice (retd) Arijit Pasayat respectively.

Justice MB Shah releasing the book 'It's Raining Black'
Justice MB Shah releasing the book

Consulting Editor: Sunil Achutan, a Chemistry Graduate with a Diploma in Business Management and a Law degree is a prolific writer and has contributed erudite articles for TIOL as well as ECR & ELT. As a faculty member at NACEN, Bhandup, Mumbai, he has delivered lectures on the intricacies of the Central Excise law for the past many years. He was also a prominent speaker at the workshops conducted by the Settlement Commission, Customs & Central Excise. With a deep understanding of the indirect tax law and more than two decades of experience in the department, Sunil brings with him immense analytical skills to add value to the editorial worth of TIOL.

Consulting Editor: R. Raghavendra Rao, a graduate in Engineering and worked for twenty years in the Central Excise Department before joining TIOL. He is a prolific writer and has contributed many thought provoking articles in ELT and TIOL. He is the co-author of the book "Guide to Excise Valuation" with Vijay.K.Kumar. Known for his incisive analysis and precise conclusions, he has in-depth understanding of Central Excise, Customs and Service Tax laws. He also heads our consulting wing at Hyderabad.

Consulting Editor: Naresh Minocha has about 25 years of experience in reporting, analysing and commenting on a wide range of economic, business and technological issues. He has worked with various print and electronic media organisations in different capacities. The organisations include Financial Express, Indian Express, Business India, Business Standard and Nimbus. He has vast experience in doing specialised writing for global readers and is currently associated with Chemical News & Intelligence, Asian Chemical News,

Technical Director: Shikher Singh has been with TIOL since its inception and manages the technology issues of the company, constantly interacting with external software and web solutions companies to improve functionality, interactivity and qualitative aspects of and it's group portals. He holds a Bachelor of Commerce degree from the University of Delhi and IBM certification in eBusiness Application Programming. He has also attended several IT courses related to internet and software exports technologies.

Marketing Head: Richa Nigam has been with TIOL since 2005, and is responsible for coordinating marketing and sales for the company. She has contributed significantly to revenue growth by achieving sales through the development and implementation of focused marketing efforts. Previously she was with India Bulls where her responsibilities included providing investment advice to clients for their investment portfolios. She holds a Masters in Commerce from Kanpur University and has an MBA from The Indian Institute of Planning and Management  (IIPM), Delhi.

Deputy Head, Marketing: Shikha Choudhary made her entry into professional and competitive world of marketing with TIOL in 2007. During her long stint, she has provided leadership to the various wings of marketing designed for each revenue vertical. She has been a successful campaigner and motivator for the young lot that dominates the cutting-edge marketing in TIOL. She presently leads the ONLINE as well as E-LITE teams besides providing insight and inputs to other team leaders.

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