"25 August 2017" Archive

Govt. to eradicate black money, reduce litigations and tax certainty: Chairman CBDT

Chairman of CBDT Sushil Chandra said, the government main aim is to eradicate black money, lesser litigations and bring certainty in tax laws, said at an ASSOCHAM event held in New Delhi today....

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Posted Under: Income Tax |

List out all GST Transition related issues: CBEC Chairman

DO. No. 24/CH(EC)/2017 (25/08/2017)

I am aware that there are a few instances of procedural difficulties and system glitches hampering the transition process of GST. In this regard, I would like to request you to list out all such issues that needs Board's intervention. You may like to go through my letter dated 23rd August, 2017 and do the needful urgently as per the indic...

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Revised guidelines for stay of demand before CIT(A) is prospective: CBDT

F.N0.404/72/93-1TCC (25/08/2017)

It is hereby clarified that the modifications laid down in Board's O.M. dated 31 7.2017 are prospective in nature and matters already decided as per Board's O.M. of even number dated 29.2.2016 before the issue of O.M. dated 31.7.2017 shall not be reviewed merely on the grounds of the modifications laid down in the said O.M. dated 31.7 201...

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Banking Regulation (Amendment) Act, 2017

NO. 30 OF 2017 (25/08/2017)

Power of Central Government to authorise Reserve Bank for issuing directions to banking companies to initiate insolvency resolution process. `35AA. The Central Government may, by order, authorise the Reserve Bank to issue directions to any banking company or banking companies to initiate insolvency resolution process in respect of a defau...

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RBI to ramp up supply of ₹ 200 notes shortly

Press Release : 2017-2018/545 (25/08/2017)

The Reserve Bank of India introduced the ₹ 200 denomination notes today. Introduction of this denomination is expected to facilitate exchange transactions for the common man and provide complete series of denomination for transactions at the lower end. ...

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Had warned Centre that GSTN won’t be able to take this much load: Dr Amit Mitra

Addressing an ASSOCHAM interactive session, West Bengal finance minister, Dr Amit Mitra today said that he had told the Centre to postpone July 1st launch of Goods and Services Tax (GST) and had sought a whitepaper on preparedness which was not provided to the GST Council....

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Posted Under: Income Tax |

ICAI signed MoU with ICA Nepal (ICAN)

ICAI signed MoU with ICA Nepal (ICAN) to establish mutual co-operation for the advancement of accounting knowledge, professional and intellectual development in Nepal and India...

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Posted Under: Income Tax |

Extension of last date of online filing of MEF for year 2017-18

The last date of online filing of MEF 2017-18 is hereby extended from 25th August, 2017 to 31st August, 2017 and the last date of submission of duly signed hard copy of declaration has been extended from 30th August, 2017 to 7th September, 2017....

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Posted Under: Income Tax |

International travel insurance – A must have for your overseas trips

One travels abroad usually for two primary reasons- a business trip or a pleasure trip. You seriously don’t want something which could ruin your crucial business meet or your hard-earned holiday. But there’s always a possibility of some unanticipated occurrence, irrespective of how immaculate your planning is. Unlucky events like pass...

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Posted Under: Income Tax |

GST Tax Invoice and Other Documents When to prepare and meaning of each document

GST-Goods and Service Tax Act came in to force on 01-07-2017.Also the first return of GST which is GSTR 3B is filed by many tax payers.Documentation is one of the most important part of GST Act. There are various documents listed in the Act which are to be issued at certain point of time.Small tax payers are still not clear about which in...

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Posted Under: Income Tax |
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