About Us

P.Shanmugaraj & Co is a firm of Chartered Accountants established over a decade ago.It offers its clients an integrated range of accounting, consulting, compliance servicesand assurance work,specializing in auditing for the sector of Non-Banking Financial Companies i.e. Micro Finance(NBFC-MFI) and Banking Sector.
  • Place the Interest of Clients before ours.
  • Uphold High Standards of Honesty and Integrity.
  • Endeavour to Improve the Quality of Services.
  • Excellence in Professional Services.
  • Continuous Education and Training of Staff and Clients.
What's New
CBEC to verify GST transitional credit claims of 50,000 taxpayers
SEBI exempts govt from open offers for 6 PSBs post capital infusion
Manufacturing sales improve in Q3, profit subdued: RBI
India's CAD likely at 1.7% this fiscal: Report
India should engage with key trading partners if global trade war escalates: Assocham
TRAI consultation paper on revamping MNP scheme by month-end
Investment promotion scheme: Notices to Centre, Rajasthan govt, GST Council
IBC amendment: Language may hold the key to who can bid
E-wallet will address GST refund issue of exporters
Only 16% of initial GST returns filed for July-Dec matched with final returns
SMS for Week ended 18-03-2018
CBEC camps from Mar 15 to fast track GST refunds to exporters
Revise your Feb 12 guidelines on stressed loans: Power producers to RBI
Sebi raises currency derivative trade limit to Rs 100 mn
FMCG suppliers move court as sops go missing in tax exempted zones
No extension for sale of pre-GST stock with revised MRP stickers: Ram Vilas Paswan
LS passes Finance Bill 2018; unlisted stocks to get indexation benefits
Investing in equity mutual funds may get cheaper
Sebi considers clearing house interoperability
Parliamentary Panel asks government to review employees pension scheme
Indian economy to grow at 7.3% in FY19 and 7.5% in FY20: World Bank
CBDT to conduct nationwide review of tax collection for FY18 today
SEBI puts more safeguards for FPI investors
SEBI to relax start-up net worth norms, allow listing on SME platform
Trai Chief hits back at telcos; says allegations of bias uncalled for
Income Tax department attaches benami properties worth Rs 39 billion
Representations received to withdraw LTCG: FinMin
SEBI seeks relaxed rules for municipal bodies eyeing bond market
SEBI may impose restrictions on algo trade
Ease lender approval norms for resolution plans: Govt panel
Growth engine gets twin boost from IIP, CPI data
Fugitive Economic Offenders Bill to cover wide-ranging white-collar crimes
SMS for Week ended 11-03-2018
SEBI seeks to cut retail F&O bets
Quick savings recovery after demonetisation jolt: Reserve Bank of Indi
ICAI issues advisory on joint auditors' work allocation in bank audits
Manufacturing outlook positive for January-March quarter: FICCI
Variance between GST paid and claims made
E-way relief, for now, to e-commerce, courier firms sending small orders
Define'shell companies' in companies act, panel asks govt
Reforms in health, education & banking will benefit India: IMF
SEBI takes up 116 cases to probe violation of securities law during FY17-18
With no fixed targets, GST collection not-so-encouraging: Par panel
Trump slaps tariffs, rattles Indian metal firms; JSW asks govt to retaliate
Post ­RERA changes made in agreements: survey
Relief to FMCG companies: Govt eases norms for e-way bill generation
Sebi has returned NSE consent plea citing pending investigation: Sources
PMO steps in to speed up GST refunds for exporters
Govt is expecting additional money from RBI as dividend
Arbitration council to grade dispute resolution institutions: Law Minister
Direct tax mop-up rises 19.5% between April-Feb
GST Council to weigh proposal to further delay rollout of e-way bill
Council to take first step on bringing alcohol into Goods and Services Tax
Fooling the IT returns system by using all zeros as Aadhaar number
Epayments continue to climb in feb
SEBI re-constitutes panel on corporate bond market
ETF assets surge four-fold in 2 years on steady inflow from EPFO
Corporate social responsibility spends of firms warrant audit, says P.P. Chaudhary
Government probing 53 cases of profiteering in GST regime
RBI:Digital transactions decline in February
Tax cloud over IFSC dividend payout
E-way bill may not be needed for small orders
Services sector contracts, putting pressure on govt
Delhi-Jaipur E-way: Land Prices Rise 40%
RBI to inject Rs 1 lakh cr cash into banking system in March
RBI to infuse Rs 1 trn into banking system via special auctions in March
I-T Dept probes Rs 10-bn tax refund fraud by govt and PSU employees
SMS for Week ended 04-03-2018
RBI to bring interoperability for e-wallets within the promised time frame
RBI gets tough on MNC banks on priority sector lending
India To Retain Its Position As Fastest Growing Economy In Coming Decades: Arun Jaitley
Rent on electricity meter comes under GST, move may draw criticism
Banks to bear extra cost due to 18% GST on priority lending certificate
15th Finance Commission will need to define populism: Chairman NK Singh
GDP expands 7.2% in Oct-Dec as dust settles over GST roll-out
India replaces China as world's fastest growing economy, GDP growth at 7.2% in Q3
Sensex falls 162 pts as PSU banks rebound
I-T e-assessment: CBDT notifies new central scheme
GST collection dips marginally in January to Rs 86,318 crore
Single GST rate can't work at the moment; compliance to be made simpler: FM
India Inc's avg salary hike to be 9.4% this yr: Survey
EPFO makes online claims must for PF withdrawals above Rs 10 lakh
Individual angels may get tax relief too
UPI-based system mulled for retail investors in IPOs
Govt to ease FPI rules in bid to attract foreign investment
GST revenues: Growing uncertainty
SMS for Week ended 25-02-2018
E-way bill may be relaxed for e-commerce players if orders are small
70% IGST refund stuck due to flawed claims filed by exporters: CBEC
Govt ropes in IIFT, ICAI to improve ease of doing business ranking
Taxmen asked to step up collections to meet higher target
Government borrowing cost likely to fall, thanks to EPFO
CIC raps GSTN for lack of order, seeks clarity on info disclosure
GST improved tax compliance:survey
RBI releases ombudsman scheme for NBFCs
Errors in GST returns filing a hurdle in issuing tax refunds to exporters: CBEC
GST Network simplifies returns filing process
EPFO's investment in corporate debt to reduce to 20%
MSCI will continue to get data for ETFs: NSE
SEBI plans safeguards for overseas investors taking private bank route
Sebi may tighten AIF regulations to better monitor the source of funding
SEBI sets conditions on promoters selling holdings to achieve MPS norms
Govt tightens norms for removal of independent directors
Panel to discuss GST return simplification
EPFO cuts interest rate to 8.55% for 2017-18 from 8.65% for 2016-17
Stock exchanges try to assuage concerns after MSCI warning
5.5 million GST returns filed in January
Loans will be disbursed based on data, says Nandan Nilekani
EPFO likely to announce 8.7% interest
I&B representative on Prasar Bharati board complains against chairman
NBFCs amy grab larger share of corporate lending
Mismatch in govt GST export refund numbers
GST woes likely to hurt handicraft exports in 2017-18
RBI acts, FM speaks up
Bankruptcy rules for individuals may be delayed due to workload of DRTs
Closed end funds lose sheen on LTCG tax
Bill to ban unregulated deposit schemes could get Cabinet nod today
Higher MSPs could spur inflation in FY19: Nomura
MSCI to Consult Fund Managers Before Decision on India Weightage
SMS for Week ended 18-02-2018
SEBI opens new door for overseas investors
Proposed PPF changes to benefit investors
SEBI asks banks to compensate retail investors if they fail to allot shares in an IPO
GST rules set to be simplified further
TRAI sets non-predatory tariff rules for old tel cos
Govt may raise import duties on edible oils and chana may go up
Sebi relaxes access norms for FPIs
CBEC decides not to file review appeals in 63 cases
MSCI slams move by Indian exchanges
Tax collection assumptions in India's budget ambitious: IMF
RBI asks banks to accept coins of all denominations from public
Export growth rate dips to 9.07% in Jan
Base year for GDP, IIP to be changed to 2017-18
Retail investors in IPOs to get compensation: Sebi
RBI norms add to NCLT burden
GSTN to ensure stakeholder familiarity before reintroducing e-way bill
Earnings growth rises to 6 quarter high
LTCG tax will not impact NPS, says PFRDA chairman
Sebi to meet rating agencies on faster access to default data
‘Revised RBI norms to clean up NPAs in one go’
PF body proposes decreasing administrative charges for employers
IT Raid Cases Not to be Processed Under E-assessment: CBDT
Lead by PSBs, NPAs soar 34.5% in Q3; pain to linger on, claims report
RBI withdraws SDR, S4A, sets banks 180-day timeline for bad loan resolution
Govt removes exemptions for ITR filing
EPFO sells a portion of equity to maintain 8.65% interest rate
With IBC the Default Tool, RBI Retires Debt Rejig Processes
EAC-PM discusses ways to rollout of mega healthcare scheme
SEBI now looks to curb benami deals
Government measures to ensure MSMEs become growth engine: DFS secretary
RBI still processing returned notes
Banks opposed to changes in MCLR calculation: Reserve Bank of India
Bank haircuts on NPAs go up to 80%
SMS for Week ended 11-02-2018
GST to hit GSK Consumer's global growth
No RBI decision on implementing IndAS yet: deputy governor N.S. Vishwanathan
Govt knows how to bite the bullet: FM
Govt to look at EC´s view on simultaneous polls
RBI suggests tax sops, self-regulation to build fintech space
Impaired assets to peak by FY20: India Ratings
Regulator tweaks insolvency rules to raise bid value
RBI signals long pause, flags inflation risks
Relief for MSMEs hit by GST
MCLR to be linked with base rate
Developers of affordable homes should not collect GST from buyers: finance ministry
Centre´s GST relief to states at Rs 900 billion
CBDT No notice to taxpayers in case of minor I-T return filing mismatch
Sebi, bourses step up guard
IRFC tax issue resolved
Centre looks at phased roll out of e way bill
CBDT won’t act tough with startups to recover outstanding demand
Rs 57-mn GST evasion unearthed in 16 cases in five months of FY18
Taxing times for IPOs: LTCG tax from April 1 promts issuers to expedite market launch but ongoing correction could play spoilsport
Natural gas and real estate may come under GST net, says FM Arun Jaitley
MF Industry welcomes Sebi move to abolish extra commission for distributors
CV Sales May Stay in Top Gear for 2 years on GST, Infra Boost
No Angel Tax on Startups with up to Rs. 10cr Funding
Don't misuse I-T laws, pay taxes as rates are already low: CBDT to industry
Finance Bill, 2018
Video on Tax on Long Term Capital Gains (LTCG) on Shares Budget 2018 (by CA Rajeev Khandelwal)
SMS for Week ended 05-02-2018
RBI seen keeping rates on hold, may flag risks of higher MSP on inflation
Sebi board to meet on 10 February; Jaitley to brief members on budget
Centre cuts PSUs’ budgetary support
NSE's revenues from its frozen co-location facility climb to Rs 9.45 bn
DoT to float new draft telecom policy within a week
Pre-2016 Startups may Get Breather from Angel Tax
I-T Dept Issues FAQs on LTCG Tax
SEBI may allow metal ETFs to attract retail investors
Fiscal deficit target revised to boost spending in 2018-19
RBI once again cancels Rs 110 bn-worth bond auction as yields shoot up
Higher taxes spark panic among FPIs
Tax loophole plugged for corporate mergers
Trai asks DoT to review licence, spectrum fees levied on telecom firms
Compensation cess causes jump in tax administration expenditure
GST hurdle: E way bill put on hold
Customs duties on over 50 items hiked to push Made in India agenda
Defence budget increases 8 percent, unlikely to cover rise in cost
Budget will strengthen ´ new India´ vision: Modi
FM Shuns Ambitious Targets For FY 19
Arun Jaitley raises rates to boost Make in India
FM Seeks to bring digital firms under the tax net
SEBI gets more power to levy penalties on stock exchanges
SEBI agrees to transfer Rs 16.7 billion of surplus funds to government
CSO revises FY16 GDP growth to 8.2%, FY17 unchanged at 7.1%
Core sector growth slows to 4 Percent in Dec
1,235 new FPIs register with SEBI in Apr–Dec FY’18
GST e-way bill to go live on budget day, industry fears disruption
EPFO: Firms can pay dues, update ownership details
Banks to negotiate only with top bidder in insolvency cases
Labour Ministry looks to add self-employed to job data
Sebi limits trading in security receipts to qualified buyers
Low success rate in resolving disputes
Taxpayer base up 50% since GST
Need to stabilise GST implementation to facilitate easier compliance: Economic Survey
Single GST registration for airlines, banks on the anvil
Tax uncertainty over insolvency deals likely to go
SMS for Week ended 29-01-2018
NSE to finalise list of commodity derivatives soon
Finance ministry decides not to recreate an omnibus development bank
Resolution plans under IBC may need approval of fewer lenders
Govt may bring more amendments in insolvency law
FRDI Bill’s bail-in clause worries labour ministry
Registration for E-Way Bill (by CA Rajeev Khandelwal)
Bail-in clause in FRDI Bill will only be used sparingly: Finance ministry
FY19 divestment target may be as high as Rs 1 trillion
SBI plan to invoke guarantees may fail
Indian subsidiaries deliver more value for multi nationals
Govt may tighten labelling norms for generic drugs
Registration for E-Way Bill (by CA Rajeev Khandelwal)
Government to introduce new initiatives to make it easier to start business
Duty drawback rates increased for 102 products in bid to boost exports
CAs to look into diamond couriers’ deals
GST Receipts Rebound in Dec After 2 Months
GDP may grow to 7% in FY19 as GST impact wanes: HSBC
Fin Min asks PSU banks to be in hot pursuit of bad loans
Centre proposes fixed-term labour contracts
RBI warns banks about crypto risks, wants higher scrutiny
Registration for E-Way Bill (by CA Rajeev Khandelwal)
GST may prove a drag on India’s ease of doing business ranking
Govt may offer more income tax deductions to those who invest in its infra projects
Registration for E-Way Bill (by CA Rajeev Khandelwal)
Companies unlikely to get transition credit for cesses paid earlier
SEBI GDR crackdown runs into foreign hurdles
India shaking off GST roll-out woes, but oil price a risk: S&P
E-commerce firms may get 6-month tax breather
Registration for E-Way Bill (by CA Rajeev Khandelwal)
Cryptocurrency exchanges face the red flag
NSE co-location: EY, ISB audits fail to cut ice with SEBI panel
IMF Report says India Stays Ahead of China in FY17 Growth Rate
Budget 2018: Increase tax exemption limit to Rs 300,000, says SBI report
Budget 2018: Government may hike agri-credit target to Rs 11 lakh crore
Sebi outlines role of oversight committee for product design
IMF forecasts 7.4% growth for India in FY19
Forensic audit biz soars as firms head for bankruptcy
Registration for E-Way Bill (by CA Rajeev Khandelwal)
SMS for Week ended 22-01-2018
RBI, govt may give banks more time to switch to IndAS
Sebi online filing system stumps investors and intermediaries
GST composition scheme may come under reverse charge mechanism to curb evasion
Ministry Wants SEZ Tax Incentives to Continue
Sebi plans to open consent doors for serious violations
Registration for E-Way Bill (by CA Rajeev Khandelwal
GST Council cuts rates on more items
NBFCs can invest 25% in REITs: SEBI
SEBI panel for friendly tax regime for AIFs
Lower GST to help metro builders
Compensation cess collection lower than states’ shortfall in Dec
Registration for E-Way Bill (by CA Rajeev Khandelwal)
Improve pricing of risk-based loans, RBI tells banks
Matching Invoices May Soon Be taxpayers'Job
Markets shoot up on bank FDI hopes
GST Council cuts rates on 80 items
Govt mulls 100% foreign investment in private banks
Registration for E-Way Bill (by CA Rajeev Khandelwal)
Consumers complain about traders charging extra
Cong to ask for petrol, realty to be brought under GST
States flag revenue shortfall ahead of GST Council meet
Govt gets comfort from direct tax kitty
GST council may cut rates of 70 items
CII urges govt to bring oil, natural gas under GST
10 states join eway bill platform; GSTN starts trial run
Black money: Govt heat on 120,000 firms
Rupee slips on rising oil, trade deficit concerns
GoM on GST Network to meet on Wednesday
Single GST form likely for service providers
SEBI to recover Rs 70 bn by auctioning 11 PAN card Clubs properties in Feb
Sebi mulls review of graded surveillance measures to improve transparency
RBI can´t always bail out bank treasury
Sebi knocks at PMO door on NPA disclosure rules
FDI norms tweak: Joint audits to boost Indian entities
Govt sitting still on GST refunds
SMS for Week ended 14-01-2018
Commerce Ministry panel's proposal to end MAT on SEZs under review
I-T Dept may Go into Overdrive This Quarter
Sebi extends deadline for stockbrokers to set up records of client orders
Officials back Dholakia´s objection to RBI´s growth assessment
MCA to review SEBI´s PW order
Budget bonanza: Dividend distribution tax may go
GST Council may lower rates for farm gear, EVs
FDI relaxation for real estate brokerages to boost investment: Experts
Sebi team working on relaxation for IBC firms
World Bank pegs India´s GDP growth higher than FY18 Advance Estimates
Govt relaxes FDI norms for AI, retail
Price Waterhouse banned from audit for 2 years
Middle class likely to get tax relief in upcoming Budget
Benefits of AADHAAR unclear: RBI researchers
Direct tax collections rise 18.2% in April-December in breather for govt
Higher direct tax mop up gives govt fiscal relief
Cash deal limit may be reduced under PMLA
Shrinking footprints of foreign banks in India
Insolvency professionals divided over ban on resolution outsourcing
Budget may tweak tax norms for listed stocks
Simplifying invoice matching process on GST Council agenda
Govt notifies amendments to Companies Act
Hedge fund tax rule sought by SEBI would boost demand
TDS Circular Salaries 2017-18
Agri growth likely to be higher than 2.1%: Ministry
Q3 earnings likely to show first signs of revival
Tax Breaks for Health Cover Premiums on Cards
Government, RBI unlikely to give nod to Sebi's 'loan default disclosure' proposal
Standard procedure for GST profiteering complaints soon
Mutual fund firms cannot be both adviser and distributor: Sebi
SEBI should not discriminate between rating agencies
Taxman plans to match GST invoices to plug leakage
Services sector growth improves in December
RBI may maintain status quo on rates for entire 2018: Experts
CBI failed to challenge 2015 excess spectrum order: Public prosecutor
Lenders plan Aircel, GTL Infra merger
Govt seeks nod for Rs 800 bn PSB recap through bonds
Sebi proposal on distributors, advisors can trip mutual funds
Sebi eases 'scheme of arrangement' rules for listed cos
IBC's objective not to emphasise on liquidation: NCLT
E-way bill: Bihar demands necessary troubleshooting mechanism
Sebi allows commodity bourses to raise fees
Sebi planning a ‘riskometer’ for stock market investments
FPIs using tax arbitrage on NCD income
IBBI amends rules, drops need to disclose liquidation value of asset
RBI bonds Scheme not closed :Finance Minister
Government to rope in banks, financial institutions to push Swachh Bharat
2017 produced largely satisfactory foreign policy outcomes for India
Sebi issues fresh consultation papers on investment advisers
Lok Sabha sends national medical commission bill to parliamentary committee
New framework for algo trading on cards
Govt closes subscription for 8% savings bonds from today
GST: Centre relaxes norms for rectification of tax returns
Bankruptcy will dictate M& Atrend in 2018
SBI surprises with 30 bp base rate cut
Govt to classify shell firms by month-end
Banks to refer 25 firms on RBI’s second list to NCLT
Rupee ends 2017 on bullish note, hits 4 month peak of 63.87
Another defaulters´ list sent to NCLT
Link Pan With Aadhaar Soon
RBI cancels bids for Rs 11,000 cr bonds
Poor collection mars GST flat rate scheme
Govt moves amendments to plug loopholes in insolvency law
Sebi defers norms for loan default disclosure by listed firms
Get capital gains benefit in case of project delay
Insolvency Bill Eases Rules For SME Promoters
Sebi nod for universal exchanges from Oct 18
SEBI orders attachment of bank, demat accounts of 22 entities
SEBI notifies norms allowing REITs, InvITs to issue bonds
LS passes bill for GST cess hike on luxury cars to 25%
Tax payers can see status of returns filed on GSTN portal
Parliament passes bill amending Forest Act
Sliding GST collections may put pressure on government
NSE revises penalty structure for unauthorised trade
Sebi may ease FPI norms
GST collections fall to lowest in November
Commerce ministry panel suggests change in SEZ rules
Proportion of return filers at lower levels of income declining
SMS for Week ended 23-12-2017
Some Profitable PSUs Too May Be Put On The Block
Revenue concerns may push back further GST cuts
Govt likely to give Sebi powers to regulate private placements
India’s market cap to GDP nears 100%
Sebi likely to ease Invit, Reit framework
Government introduces bill on GST compensation cess in Lok Sabha
Tax department amends rules on addresses
HC notice to govt on double taxation
Better rated firms moving to bond mkt, says RBI report
Agency banks must be prompt with govt instructions: RBI
Govt says no question of closing any PSB
IMF, RBI flag persistent risks to India’s banking system
Stress In The Banking Sector Maybe Bottoming Out, Says RBI’s Financial Stability Report
NSE introduces e-mandate facility on mutual fund platform
Sebi revives proposal on loan default disclosure
Govt to assess impact of CSR activities undertaken by PSUs
CRISIL lowers growth forecast, GDP to grow at 7.6% in 2018-19
RBI report blames banks for bad debt mess
Cabinet approves Consumer Protection Bill
Full I-T e-assessment from next year; CBDT forms committee
More changes to bankruptcy code likely in Budget
Govt may allow 100% FDI in telecom via automatic route
Sebi may ease FPI norms, compliance rules for firms facing bankruptcy
Disclose consolidated stake of shareholders: Sebi to bourses
RBI asks banks to share info with information utilities
Shell companies: Govt may provide relief for disqualified directors
Extend pre GST duty drawback rates: House panel
Rajya Sabha passes Compnaies Bill,2017
Bill allowing proxy voting rights to NRIs tabled in Lok Sabha
Insolvency Board proposes, Reserve Bank disposes
Firms buying stressed assets may get tax relief
FRDI Bill unlikely to be tabled in Budget session
GSTN brings in option for monthly, quarterly filing of forms
GSTN plans data scan to detect tax evasion
Auto industry seeks two GST rates for passenger vehicles
Sebi seen facing hurdles in implementing proposals of Uday Kotak committee
PEs, NBFCs move to take more control of real estate projects
India may not impose anti-dumping duty on polybutadiene rubber
Govt hardens stand on GST defaulters
SMS for Week ended 16-12-2017
Govt to bear MDR cost for online payments of up to Rs 2,000
GST Council to meet tomorrow, e-way bill, tax evasion top on agenda
Growth slowdown bottoming out, says RBI governor
Exports jumps 30%, trade defict high at Rs 13.8 bn
Cabinet okays Bill to replace Medical Council of India
Sebi and RBI in talks on giving a boost to interest rate futures
Insolvency law committee calls for stakeholder views
IBBI issues guidelines for tech standards of info utilities
Call on GST e-way bill on Saturday
ED to issue FEMA notices in 46 cases
GST may cover fuel, power
Banks set to crack down on defaulters in RBI’s second list
To avoid extra TDS, give tax-saving proofs
Delhi HC gives interim relief to retailers on transitional credit
Banks, insurance companies under lens for inflated tax credits
Sebi norm on profit-sharing puzzles firms
RBI stays firm on MDR revision
GST Network simplifies returns filing process
Sebi sets up department to address issues firms face in bankruptcy court
Surge in retail inflation in November brings RBI’s fears to reality
Govt may allow pre-GST stocks to have revised MRP stickers till March
Big investors press major companies to step up climate action
Bond yields likely to climb more
India´s economy to grow at 7.2% in 18; 7.4% in 2019
Sebi rejigs primary market advisory panel
Govt asks panel to review amendment to Insolvency and Bankruptcy Code
SMEs' claims may get higher priority in liquidation cases
Bankers look for speedy resolution of 28 accounts
SMS for Week ended 10-12-2017
FY19 Budget may assume crude oil price at Rs 65/ barrel
Lenders want extension of insolvency deadline
Govt may let foreign airlines bid for AI
up slow pause speed down
Updated Till : 20/03/2018
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