Time period for filing GSTR-2 and GSTR-3 for July 2017 – March 2018 will be subsequently notified.
1. Council decided to extend the current system of filing simplified return i.e. GSTR-3B up to 30th June 2018. No conclusive decision was taken on GSTR 1,2,3 simplifications as the taxman is of the opinion that simplification should not provide room for tax evasion.
An investor will prefer to invest in mutual fund through a power of attorney under some special situations. Let us see a few examples of those special situations:
Long Term Capital Gain (LTCG) Calculator for Land or Building or Both For Financial Year 2017-18- As per new indexation from 2001 – 02
Amendments to Profession Tax Act- i. Responsibility to collect tax at source (TCS) on Organizations, Corporations, etc. ii. Attractive Scheme to be declared for One Time Payment of Tax (OTPT) for professionals. iii. Streamlining provisions for effective recovery of tax.
The issue of taxability of out-of-pocket expenses has always been a matter of litigation. Before April, 2006 there was no specific provision to this effect. However, from April 19, 2006 onwards, with the introduction of the Service Tax (Determination of Value) Rules, 2006, Service tax is applicable on gross consideration including all expenses barring the expenses incurred as pure agent.
As per the latest available information as on 05.03.2018, number of Aadhaar cards linked with PAN is 16,65,82,421 . Further, as on 02.03.2018, 8779.65 Lakhs Current Accounts and Savings Accounts have been linked with Aadhaar.
At present, premature closure of a Public Provident Fund (PPF) account is permitted on specified grounds on completion of five financial years from the date of opening of account. Opening of accounts in the name of a minor is permitted under all the small savings scheme except the Senior Citizens’ Savings Scheme.
The ICAI has also set up High Power Group to study the issues in PNB matter and suggest remedial measures and improvements in the banking system. The Group has written to various officials of the bank including the Chairman of the Audit Committee and a member to provide relevant information in the matter so as to help the Group to understand the systemic issues.
