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Take steps to prevent Dengue, Chikungunya, Malaria or face stern action: Delhi HC

April 26, 2017 1677 Views 0 comment Print

Delhi HC has asked Delhi government to take all necessary steps to prevent outbreak of vector-borne diseases, including dengue, chikungunya and malaria, which are caused on account of mosquito bites.

Goods and Services Tax– What you must know

April 25, 2017 31623 Views 5 comments Print

GST is a win-win situation for the entire country. It brings benefits to all the stakeholders of industry, government and the consumer. It will lower the cost of goods and services, give a boost to the economy and make the products and services globally competitive.

All about Input Tax Credit under GST

April 25, 2017 105984 Views 14 comments Print

INPUT TAX means the CGST, SGST, IGST or UGST charged on any supply of goods or services or both made and includes IGST on Imports & tax payable under reverse charge provisions. However, Input Tax does not include the tax paid under the composition levy

Banks cannot Refuse to accept scribbled /coloured /faded bank notes

April 25, 2017 30615 Views 4 comments Print

Of late, we have been receiving complaints from members of general public that majority of the bank branches are not accepting banknotes, specifically in the denomination of Z 500 and 7 2000, with anything written/colour on them and banknotes whose colour has faded due to washing or any other reason.

Do not share or Publish personal details of taxpayer: CBDT

April 25, 2017 4305 Views 0 comment Print

It is requested that any act of publishing personal identity or information i.e. Aadhaar number and demographic details along with personal sensitive Information such as bank details, in contravention of the Aadhaar Act 2016 and the Information Technology Act, 2000 be refrained with immediate effect.

Six Things you should know about the Finance Act 2017

April 24, 2017 14769 Views 2 comments Print

Here are 6 key takeaways from the Finance Act 2017 that you must know: 1. Change in Rate of Slab Rates 2. Reduction in Benefit U/s 87A 3. TDS on Rent paid by Individual 4. Change in Capital Gains 5. Ceiling on Cash Transaction 6. Digital Payments in Presumptive Taxation

Tax Invoice under GST

April 23, 2017 203226 Views 29 comments Print

Invoice in simple terms is nothing but a document specifying list of goods sent or services provided and a statement of the sum due against those items. Invoice is often understood as ‘proof of sale’ but this common understanding is far from the truth.

Amendments in provisions of Income Tax relating to salaries during FY 2016-17

April 22, 2017 14775 Views 1 comment Print

Every year Central Board of Direct Taxes issues circular on Income Tax deduction from salaries under section 192 of the Income Tax Act, 1961. For the Financial year 2016-17, CBDT issued circular relating to provisions of salary & TDS on salary for current year via circular no. 01/2017 dt. 02/01/2017. This article tries to focus on amendments in FY 2016-17 by comparing with the provisions of FY 2015-16.

All about Returns under Goods & Services Tax (GST)

April 22, 2017 18090 Views 4 comments Print

A Registered person under the proposed GST regime has to file many returns prescribed or otherwise required to be furnished by or under the act & rules made thereunder.

Prescribe generic drugs or face disciplinary action: MCI to Doctors

April 21, 2017 4275 Views 0 comment Print

Every physician should prescribe drugs with generic names legibly and preferably in capital letters and he/she shall ensure that there is a rational prescription and use of drugs.

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