Simplified One Page ITR 1 has been notified. For Individuals, Aadhar Card Number/ Enrolment ID is compulsory where Person is eligible for Aadhar Card. Specific Column for Showing Cash Deposits during 09.11.16 to 30.12.16. ITR 1 can only be used where total income does not exceed Rs. 50 lakhs
Finance Bill 2017 has been passed by both the house of parliament and after receiving the accent from President on 31st March 2017 has become Finance Act 2017. We have listed down important changes under Income Tax Act which shall be applicable from 1st April 2017 i.e. Assessment Year 2018-2019.
The prospects of rollout of the Goods and Services Tax (GST) from July 1, 2017 has been brightened further, when the all-powerful GST Council chaired by the Honble Finance Minister, Mr. Arun Jaitley met for the thirteenth time in a row to clear all gathered clouds over the GST and brightening its prospects of implementation soon.
In revised migration schedule date for Migration by VAT Dealers all around India registered prior to January 2017, Taxpayers who are registered under Central Excise Act but not registered under State VAT, Enrolment of Taxpayers who are registered under Service Tax Act but not registered under State VAT and for New registration under VAT/Service Tax/Central Excise after January 2017 is extended to 30.04-2017.
As per MCA Notification No. G.S.R. 308(E) dated 30th March, 2017 In the Companies Act, 2013, in Schedule III, in Division I, in Part I under the heading General instructions for preparation of Balance Sheet in paragraph 6, after clause W, the following clause shall be inserted
Clearing the decks for the July 1 rollout of the ambitious Goods and Services Tax (GST) that will subsume 17 major Central and State taxes for a unified tax regime, the Lok Sabha on March 29, 2017 night cleared four crucial GST Bills i.e. CGST, IGST, UTGST and Compensation Cess Bill.
CBDT has vide notification No. 21/2017 released ITR for Assessment Year 2017-18 / Financial Year 2016-17 and Same can downloaded from the link given at the end of the post. the number of ITR Forms have been reduced from the existing nine to seven forms. The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2 has been notified in place of these three forms. Consequently, ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.
Download Clause by Clause Analysis of CGST Bill 2017, UTGST Bill 2017, IGST Bill 2017 and a Presentation on GST Bill – 2017 compiled by Institute of Cost Accountants of India and its Members
Auditors to report whether the company had provided requisite disclosures in its financial statements as to holdings as well as dealings in Specified Bank Notes during the period from 8th November, 2016 to 30th December, 2016 and if so, whether these are in accordance with the books of accounts maintained by the company
Every company shall disclose the details of Specified Bank Notes (SBN) held and transacted during the period from 8th November, 2016 to 30th December, 201
