MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 40/2017 New Delhi, the 18th May, 2017 (Income-tax) Authority under the Prohibition of Benami Property Transactions Act, 1988 S.O. 1621(E). – In exercise of the powers conferred under sub-section (2) of section 28 read with section 59 of the Prohibition of Benami Property… Read More »
Application Invited By Bank Of India For Empanelment Of Concurrent Auditors In 157 Branches All Over India. Last date of submission: 05.06.2017 Link to Apply Online Terms for Appointment to be confirmed by Applicant a. Any other firm where my / our proprietor / partner is interested as proprietor / partner shall not apply b.… Read More »
ADDENDUM TO THE GST RATE SCHEDULE FOR GOODS [As per discussions in the GST Council Meeting held on 18th May, 2017] I. The following amendments / additions are required to be made to the aforesaid document: 1. In S.No.22,- (i) In the Nil rate column, the entry “Tender coconut water put in unit container and… Read More »
GST: Tax on 90% market value in deal among related parties GST: Tax on 90% market value in deal among related parties Companies can pay goods and services tax on 90% of the market value in case of supply of goods to entities such as subsidiaries, branches and joint ventures, following changes made by the… Read More »
Startup By following Notification Govt has issued new definition of Start up . For Older Definition of Start up read Notification Dated 17.02.2016 MINISTRY OF COMMERCE AND INDUSTRY (Department of Industrial Policy and Promotion) NOTIFICATION New Delhi, the 23rd May, 2017 G.S.R. 501 (E).—This notification is being issued in supersession of Gazette Notification No G.S.R.… Read More »
Income Tax Department Steps-up actions under Benami Transactions (Prohibition) Amendment Act, 2016 The Income-tax Department (ITD) has initiated actions under the new Benami Transactions (Prohibition) Amendment Act, 2016 (the Act) w.e.f. 1st November, 2016. The Prohibition of Benami Property Transactions Rules, 2016 have been framed in this regard. As per the Act, Benami property… Read More »
Time of Supply of Goods and Services under GST Time of Supply of Goods Provisions of Time of Supply of Goods are covered in Section 12 of CGST Act 2017 read with Section 31 of CGST Act 2017 (Tax Invoice) As per Section 12 (2) of CGST Act The time of supply of goods shall be… Read More »
Its time to furnish quarterly TDS statements for the period January 1, 2017 to March 31, 2017. Due Date for quarter IV of Financial Year 2016-17 is 31st May 2017. Please refer below information for quick guide:- Usage of software as per the financial year:- Different softwares When and why to use it Return Preparation… Read More »
IRS Tax Forum ‘Early Bird’ Registration Ends May 31; Tax Pros Can Save By Registering Early WASHINGTON — The Internal Revenue Service is reminding tax professionals that reduced cost “early bird” registration for all five 2017 IRS Nationwide Tax Forums ends May 31 at 6 p.m. Eastern time. IRS hosts forums to interact with tax… Read More »
Goods and Services Tax (GST) will lead to lower tax burden in several commodities including packaged cement, Medicaments, Smart phones, and medical devices, including surgical instruments The roll out of Goods and Services (GST) Tax will bring benefits to the consumers due to reduced tax rates on various commodities such as packaged cement, medicaments, smart… Read More »