IRS Accepting Applications for 2018 Low Income Taxpayer Clinic Grants WASHINGTON — The Internal Revenue Service today announced that the application period for Low Income Taxpayer Clinic (LITC) grants for calendar year 2018 will run from May 1 to June 20, 2017. The LITC program is a federal grant program administered by the Office of… Read More »
IRS: Home Office Deduction Often Overlooked by Small Business Owners WASHINGTON — The Internal Revenue Service today reminded small business owners who work from a home office that there are two options for claiming the Home Office Deduction. The Home Office Deduction is often overlooked by small business owners. As part of National Small Business… Read More »
Registration Now Open for the 2017 IRS Nationwide Tax Forums WASHINGTON — Tax professionals can earn up to 18 Continuing Professional Education credits this summer at the IRS Nationwide Tax Forums. Nearly 40 seminars and workshops are available to enrolled agents, certified public accountants, certified financial planners, Annual Filing Season Program (AFSP) participants and other… Read More »
Dear Professional Colleagues Greetings from Indirect Taxes Committee! The much awaited “One Nation One Tax” Regime is all set to take over the nation with expected introduction of GST. After the enactment of 4 GST Acts viz, CGST Act, IGST Act, UTGST Act & Compensation to States Act, 8 states have also passed SGST Acts… Read More »
GST on Employer giving Services to Employees As per the GST act 2017 notified by Govt of India , the Employee giving services to employer is not covered in the CGST Act 2017 as per Item No 1 of Schedule III of CGST Act 2017 ( Activities or Transactions which shall be treated neither as… Read More »
Draft rules relating to valuation of unquoted equity share Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 5th May, 2017. Subject: Request for stakeholder’s comment on draft rules relating to valuation of unquoted equity share for the purposes of section 56 and section 50CA of… Read More »
Income Tax Return E-filing Utility AY 2017-18 Income Tax Department has released Income Tax Return Utility for Assessment Year 2017-18 / Financial Year 2016-17 for ITR 1, ITR 2, ITR 3 and ITR 4 (SUGAM), ITR 5, IT 6. ITR 7 in both Java and Excel Format. ITR 1 – For Individuals having Income from… Read More »
BANKING REGULATION (AMENDMENT) ORDINANCE 2017 Download BANKING REGULATION (AMENDMENT) ORDINANCE 2017
Haryana House passes GST Bill The Haryana Assembly on Thursday passed the Goods and Services Tax Bill, 2017, in the special one-day session of the House. It also gave legislators a hike in salaries and allowances with monthly salary of Ministers set to jump from Rs. 50,000 to Rs. 60,000 per month. Haryana Excise and… Read More »
Budget hotel owners make plea for 5% GST slab Budget hotel owners make plea for 5% GST slab A delegation of small-hotel owners led by Federation of Indian Chambers of Commerce and Industries (FICCI), on Thursday, made a representation before deputy chief minister and finance minister, Nitin Patel, seeking 5% or lower Goods and Service… Read More »