Procedure for registration for statement of financial transactions (SFT) as per section 285BA of Income-tax Act 1961 read with Rule 114E of Income-tax Rules, 1962
President assents Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 to cancel legal tender character of old 500 & 1000 banknote
Procedure for registration and submission of Form V for Reporting under Pradhan Mantri Garib Kalyan Deposit Scheme (PMGK), 2016.
A citizen of India who makes a declaration that he was outside India between the 9th November, 2016 to 30th December, 2016 shall be entitled to tender old demonetised notes within the grace period with such declarations or statements, at such offices of the Reserve Bank or in such other manner as may be specified
Daily limit of withdrawal from ATMs increased with effect from January 01, 2017, from the existing ₹ 2500/- to ₹ 4500/- per day per card.
Note withdrawal is an effective Anti – Scam Vaccine introduced by Prime Minister to prevent scams taking place through Corruption and Black Money generation.
Remonetisation process has substantially advanced and what is significant is not a single incident of any form of unrest has been reported in country.
International transactions covered in these Advance Pricing agreements include Software Development Services, IT enabled Services, Manufacturing ,Business Support Services.
The functionality to process Objections filed by the assessee before the DRP (Process flow starting with initiation of Proceedings to passing of order) is now available in the DRP Proceedings Module of Income Tax Business Application (ITBA).
Business restructuring refers to the cross-border re-organisation of the commercial or financial relations between associated enterprises, including the termination or substantial renegotiation of existing arrangements.
