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Archive: 01 November 2017

Posts in 01 November 2017

Live Webinar with Book on Section 43B(h) (Financial Fitness)

April 25, 2024 2718 Views 0 comment Print

Live Webinar with Book on Section 43B(h) (Financial Fitness) on 10th May 2024, 6:00 pm to 8:00 pm. CA Manoj Lamba will break down intricacies of Section 43B(h)

7 Day ITR / TAR Due date extension at Last Moment- What a Shame

November 1, 2017 52944 Views 55 comments Print

CBDT has extended Due date for filing ITRs & Tax Audit Reports under Income Tax Act,1961  from 30.09.2017 to 07.11.2017 for those who were liable to file ITRs by 30.09.17. The Extension was first announced on Twitter at 10.21 PM on 31.10.2017 and later by way of press release on pib.nic.in at 11.35 PM. Further […]

Maximum age of joining NPS increased to 65 years

November 1, 2017 1626 Views 0 comment Print

Now, any Indian Citizen, resident or non-resident, between the age of 60- 65 years, can also join NPS and continue up to the age of 70 years in NPS. With this increase of joining age, the subscribers who are willing to join NPS at the later stage of life will be able to avail the benefits of NPS.

GST Impact on Service Sector

November 1, 2017 20652 Views 0 comment Print

Service sector is gaining much more importance day by day when it comes to revenue collection, contribution to GDP and employment. Service sector constitutes for more than 50% of Nation’s GDP.

Invoicing and payment voucher for RCM Supply under GST Regime

November 1, 2017 31236 Views 5 comments Print

In current environment there is a big ambiguity regarding when we are need to issue tax invoice  for the taxable supply received from  unregistered supplier specified in  u/s 9(3) and 9 (4) of CGST Act and  at what point of timing we are need to issue payment voucher.

Annual Filing of Returns of Multi State Co-Operative Society

November 1, 2017 9696 Views 5 comments Print

In this article, you will get know about annual filing of returns in MSCS. Section 120 of MSCS Act 2002, Article 243ZP of the Constitution (97th Amendment) Act 2011 and the relevant clause of Society’s Bye-Laws governs annual filing of returns of MSCS.

Investment Discipline: One thing that changes Everything about your Investments

November 1, 2017 1404 Views 0 comment Print

There are people who are disciplined and there are who are not. What is the difference between these two sets of people? The first set of people lead an orderly, healthy and peaceful life, prepared for the ups and downs, not upset with the lows, and make others feel comfortable in their company.

Cancellation Of Provisional GST Registration

November 1, 2017 3312 Views 0 comment Print

Finally most awaited provision how to cancel migrated provisional registration under GST is come into picture. Procedure to be followed for cancellation. Procedure to be followed for cancellation.Login with your User ID and Password. Right hand side there is button of cancellation of provisional .Click, Mention the reason of cancellation and submit with DSC.

Understanding Material Subsidiary Companies

November 1, 2017 34092 Views 2 comments Print

Determination of material listed or Unlisted Indian or foreign subsidiaries of the Company, where applicable, and complying with disclosure/other requirements regarding such subsidiaries and disinvestment of their shares held by the Company, and, selling/ disposing/ leasing of assets of such subsidiaries by them.

ICAI President’s Message – November 2017 – (31-10-2017)

November 1, 2017 1350 Views 0 comment Print

As you know, India rolled out a new indirect taxes regime in form of the goods and services tax on 1st July 2017, shedding a complex multiple tax system in favour of a unified one. The GST revenue for the month of August is 90,669 crore, though slightly less than that collected in July 2017, which is beyond expectations of the Government.

Section 271AAA(2) nowhere mandates offering of undisclosed income in return of income

November 1, 2017 1929 Views 0 comment Print

Income declared cannot be called retraced if same was included in 2nd revised return but not in Original and First Revise Return further Sec. 271AAA(2) not mandates offering of undisclosed income in return of income.

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