Article covers Supply Chain Management, Production & Distribution, Legal, Finance and Accounting, Job work & ISD (Input Service Distributor) and Structural Changes
If the cash deposit amount displayed is not correct, how do I mention the correct amount? If the cash deposit amount displayed is not correct, please mention the correct amount under A.5. Such cases may be sent to the information source for confirmation.
Income Tax slabs are not changed, but the tax rate for first taxable slab of income from Rs. 2,50,001/Rs. 3,00,001 to Rs. 5,00,000 is decreased from 10% to 5%. So, now there will be directly a slab of 20% after the slab of 5% tax. As in the case of very senior citizens
Prior to the amendment proposed by Finance Act 2017, the section provided for collection of tax at source at the rate of one per cent on sale in cash of bullion exceeding 2 1akh rupees and jewellery exceeding 5 lakh rupees.
The introduction of GST regime is round the corner. It has become imperative to understand this new law to serve the businesses. Continuing with its efforts to update the members, the Indirect Taxes Committee of ICAI has launched a Standardized PPT on Goods & Services Tax (GST) to provide a single handed knowledge on upcoming […]
Council of the Institute of Chartered Accountants of India, with the prior approval of the Central Government, wherever required, hereby notifies the following rates of fee for entry of name in the Register of Members, annual membership fee, annual certificate of practice fee and fee for restoration of name in the Register of Members:-
An applicant may apply for allotment of permanent account number through a common application form notified by the Central Government in the Official Gazette, and the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall specify the classes of persons, forms and formats along with procedure for safe and secure transmission of such forms and formats in relation to furnishing of permanent account number.”;
Effective February 20, 2017, the limits on cash withdrawals from the Savings Bank accounts will be enhanced to ₹ 50,000 per week (from the current limit of ₹ 24,000 per week); and Effective March 13, 2017, there will be no limits on cash withdrawals from Savings Bank accounts.
Finance Ministry has issued Draft GOODS AND SERVICES TAX -INVOICE RULES, which set rules for invoice which will be issued after the implementation of GST. This rules is very important as this will tell us the minimum/compulsory content of the GST Invoice
As earlier years, this year too salaried class had so much expectation from budget and as earlier years this year too they are disappointed after budget. No new deductions or no enhanced deductions, no rebate, no parity with self-employed/professionals (who are taxed on net income basis).
