The Government has taken a bold step to demonetize Rs. 500 and Rs.1,000 notes; While it is a step in the right direction, a few steps would need to be taken to not only ensure that people holding black money in cash are not able to convert it into white
RBI has brought to the notice of IBA that Government has expressed concern that banks are not following direction issued by RBI in relations to deposit of cash and are insisting that depositors should disclose the source of cash deposit.
Government extends existing exemptions with rergard to cancellation of the legal tender character of the existing series of high denomination bank notes of Rs.500 and Rs.1,000 denominations until the expiry of 14th November, 2016
Central Government vide Notification No. S.O. 3408(E) dated 08.11.2016 specified that bank notes shall not be ceased to be legal tender, with effect from the 9th November, 2016 until the 11th November, 2016, to the extent of transactions specified below, namely:— (a) for making payments in Government hospitals for medical treatment and pharmacies in Government […]
PART B and PART C of MEF 2016-17 will be made live from 10th November to 17th November, 2016 to enable the applicants to fill the same & get ready with Financial Documents of the applicants for Multipurpose Empanelment for the year 2016-17.
Its been reported in some cases that income declared under revised IDS 2016 declaration is lower than income declared under original declaration on account of some typographical or bonafide error.
Internal auditor should try to draft a high quality report presenting his audit findings and recommendations in the best presentable form, so that timely and relevant information is delivered to key stakeholders.
To study the existing ITR Forms and suggest modifications to the same with a view to align the forms with latest provisions, simplification of forms for the benefit/ convenience of the taxpayers;
We have updated the Point of Taxation Rules 2011 as introduced by Notification No. 18/2011-S.T., dated 1-3-2011 with Notification issued from time to time and up to the date of this article. List of Notifications issued Including Principal Notification Title Notification No. & Date Date POT for services provided by Govt or local authority to […]
A lot of small businessmen, housewives, artisans, workers may have some cash lying as their savings at home, will the income tax department ask questions if the same is deposited in banks?
