"17 May 2017" Archive

GST: Input Tax Credit Eligibility and Conditions

For all business entities; Input Tax Credit, its availment and use is a key focus area. It is because the amount of Input Credit available is equivalent to hard cash. ...

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Ind AS Transition Facilitation Group (ITFG) Clarification Bulletin 9

It may be noted that the treatment of Dividend Distribution Tax (DDT) in the standalone financial statements of the parent entity and its subsidiary has been dealt with in the FAQ issued by the Accounting Standards Board (ASB) of ICAI on the treatment of Dividend distribution tax....

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Cabinet approves Measures to Prevent Base Erosion & Profit Shifting by India

Cabinet approves signing of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting by India...

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Cabinet approves Pan-India implementation of Maternity Benefit Program

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given ex-post facto approval to Pan-India implementation of Maternity Benefit Program which now has been extended to all districts of the country w.e.f. 01.01.2017. The Prime Minister in his address to the nation on 31.12.2016 had announced Pan-India implementation of ...

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Generate 100s of Form 16 using simple tool by H&R Block

Every company is mandated to send Form 16 to all your employees.The FORM 16 GENERATOR is a tool which simplifies an employer’s efforts to generate Form 16s for all their employees. ...

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CSR is getting mainstreamed through Companies Act 2013

The Minister of State (MoS) for Finance and Corporate Affairs, Shri Arjun Ram Meghwal, says Corporate Social Responsibility (CSR) is getting mainstreamed through the Companies Act 2013. This landmark legislation has brought the issue of CSR from back rooms of corporates to their Board rooms ...

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Submit Statement of Financial Transactions (SFT) in Form 61A by 31.05.2017

Legal Framework- Section 285BA- Obligation to furnish Statement of Financial Transactions (SFT). Rule 114E - Furnishing of Statement of Financial Transactions in Form 61A. Form 61A - Format and Instructions...

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Focus Areas of Reports Generated by Software for Filing Returns

Since the assessee has the option to take single registration for business verticals within a State, it will be imperative for the assessee to resort to centralised billing mechanism. For ensuring that there is no duplicacy in issuance of invoices by more than one units in the same State, policy of generation of alphanumeric bills can be ...

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Cabinet approves Law to evict unauthorised occupants from Govt residences

Cabinet approves amendment of the Public Premises (Eviction of Unauthorized Occupants) Act, 1971 to enable summary eviction proceedings in Residential Accommodation...

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Self-certificate compliance regime for Start-ups extended to five years

Circular No. CAIU/011/(34)2016/3806 (16/05/2017)

For the first year of setting up of the Start-ups such establishments may not be inspected under any of the 6 Labour laws (viz. BoCW Act, ISMW Act, Payment of Gratuity Act, Contract Labour Act, EPF Act and ESI Act). These start-ups may be asked to submit an online self-declaration instead....

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