Daily Archives: April 11, 2017

ICAI Series of Live Webcast on GST

By | April 11, 2017

ICAI organising Series of Live Webcast on GST -jointly organised with Service Tax Commissionerate, Delhi on the theme- “Chale GST Ki Aur” Dear Professional Colleague, We are pleased to inform you that Indirect Taxes Committee of ICAI is jointly organising series of webcast on GST with the Service Tax Commissionerate, Delhi Zone to support the… Read More »

Category: GST

Tax on NPS

By | April 11, 2017

Tax on NPS The provision that the withdrawal from National Pension Scheme is taxed to the extent of 60 per cent has been introduced into the Income Tax Act, 1961 (‘Act’) vide Finance Act, 2016 by inserting clause (12A) in Section 10 of the Act. Prior to Finance Act, 2016, National Pension Scheme (NPS), referred… Read More »

Committee on Digital Payments

By | April 11, 2017

Committee on Digital Payments Pursuant to the Government initiative to promote digital payments, NITI Aayog vide order dated on 30th November 2016 constituted a Committee of Chief Ministers with Shri Chandra Babu Naidu, Hon’ble Chief Minister of Andhra Pradesh as the Convener for suggesting measures to seamlessly enable all sections of the population to migrate… Read More »

SBI Charges on cash deposit in Banks

By | April 11, 2017

Charges on digital transactions Digital financial transactions are a part of the Government’s strategy to create histories of transactions, including the associated credit, and thereby enable small and micro enterprises to access formal credit, improve tax compliance, and mainstream financial savings into the banking system, which will help mobilise such savings for economic growth. All… Read More »

FATCA- Timelines for Closure of financial accounts under Rule 114H (8) of Income-tax Rules, 1962

By | April 11, 2017

Timelines for Closure of financial accounts under Rule 114H (8) of the Income-tax Rules, 1962 under alternative procedure of FATCA The Inter-Governmental Agreement (IGA) with USA for implementation of FATCA entered into force on 31st August 2015. Under the alternative procedure provided in Rule 114H(8) of the Income-tax Rules, 1962, the financial institutions need to… Read More »