No. VAT 1517/CR 10/Taxation-1.—In pursuance of the powers conferred by clause (a) of entry 5 of Schedule ‘D’ appended to the Maharashtra Value Added Tax Act, 2002 (Mah. IX of 2005), the Government of Maharashtra hereby notifies with effect from the 1st March 2017
Section 44AB – Increased threshold for presumptive tax cases under section 44AD – Consequential amendments required in section 194A/ 194H/ 194I & 194J
Reduction in corporate tax rate – Reduced corporate tax rate to be applicable for erstwhile firms recently converted into companies and also LLPs and companies which were set up subsequent to P.Y.2015-16
Surcharge @ 10% is proposed in cases where total income of an individual/HUF/AOP/BOI exceeds Rs.50 lakhs but do not exceed Rs. 1 crore. Surcharge of 15% would continue to be applicable where the total income of an individual/HUF/AOP/BOI exceeds Rs 1 crore.
Cost of temporary occupation of land, successful exploratory wells. all development wells, depreciation on related equipment. facilities and estimated Future abandonment costs are capitalised and reflected as Oil & Gas Assets.
The Auditing and Assurance Standards Board of the ICAI has today issued the Guidance Note on Audit of Banks 2017 edition. For the benefit of the members, complete text of the Guidance Note and the contents of accompanying CD can be downloaded at the following links:
In this memorandum, suggestions on the specific clauses of the Finance Bill, 2017 relating to Income-tax Act have been given in detail.
Some of the common errors committed by the students during the examination enrollment process are given hereunder with an advice to the students to be careful and avoid such errors which will help in eliminating the complications at a later stage.
It has been observed that some of the students have reported minor issues while logging into the new portal due to the reasons furnished below. For the convenience of students, the solutions have been mentioned against each issue.
Normally it takes several years for a person injured in an accident or for the legal heirs/Dependents of the deceased who had died in an accident to get compensation from the Insurance Companies which insured the vehicles that caused the accident through Motor Accident Claims Tribunal.
