Eligible to be enrolled for the Aadhaar number As per the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, only a resident individual is entitled to obtain Aadhaar. As per Section 3 of the said act :- “Aadhaar number 3. (1) Every resident shall be entitled to obtain an Aadhaar… Read More »
Aadhaar mandatory for Opening Bank Account The government has made quoting of biometric identity number Aadhaar mandatory for opening of bank accounts as well as for any financial transaction of R 50,000 and above. Existing bank account holders have been asked to furnish the Aadhaar number issued by the Unique Identification Authority of India (UIDAI)… Read More »
1. New Phone Scam Involves Bogus Certified Letters Beware of a new scam linked to the Electronic Federal Tax Payment System (EFTPS), in which fraudsters call to demand an immediate tax payment through a prepaid debit card. This scam is being reported across the country. 2. Orlando IRS Tax Forum Registration Deadline Is June 27 Tax professionals… Read More »
Revenue Ruling 2017-14 provides various prescribed rates for federal income tax purposes including the applicable federal interest rates, the adjusted applicable federal interest rates, the adjusted federal long-term rate, the adjusted federal long-term tax-exempt rate. These rates are determined as prescribed by § 1274. The rates are published monthly for purposes of sections 42, 382,… Read More »
Assam GST Act 2017 Assam GST Act 2017 received the assent of the Governor on 24th May, 2017 and Notified on 01st june 2017 GOVERNMENT OF ASSAM ORDERS BY THE GOVERNOR LEGISLATIVE DEPARTMENT : : : LEGISLATIVE BRANCH NOTIFICATION The 1st June, 2017 No. LGL.123/2017/11.– The following Act of the Assam Legislative Assembly which received the… Read More »
Atal Pension Yojana (APY) can now be subscribed digitally; eNPS Channel (“APY@eNPS) involves complete digital enrolment process Pension Fund Regulatory and Development Authority (PFRDA) has now introduced “APY@eNPS” which involves a complete digital enrolment process. This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of Atal Pension… Read More »
Setting up of GST Facilitation Cell in DIPP. In pursuance to Cabinet Secretary’s directions a GST facilitation cell has been set up in the Department with a view to facilitate the rollout of GST. The GST facilitation cell is headed by Sh. Sudhansu Sekhar Das, Economic Adviser. The cell shall have the followingfunctions: (i) Be… Read More »
Section 139AA Income Tax Act [ Section 139AA Income Tax Act Inserted by the Finance Act, 2017, w.e.f. 1-4-2017 ] 139AA. (1) Every person who is eligible to obtain Aadhaar number shall, on or after the 1st day of July, 2017, quote Aadhaar number— (i) in the application form for allotment of permanent account number;… Read More »
Rule 10CB of Income Tax Rules relating to Computation of interest income pursuant to secondary adjustments.Notified by CBDT – [ Notification No. 52/2017, F.No.370142/12/2017 -TPL ] MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 15th June, 2017 G.S.R. 590(E).— In exercise of the powers conferred by sub-section (2) to… Read More »
I am a trader. I have got vat refund so will it be carried forward under GST ? Refund under existing law will be under existing law provision only. [ Reply as per Twitter Account of Govt of India for GST queries of Taxpayers ] Read Other related GST Questions / Queries replied Read other related GST… Read More »