Forbid Cash Transaction and related Income Tax Provisions

Views: 280 What Income Tax Act Says about Cash Transactions and Consequences of Non-Compliance of related provisions in the act & rules. After the demonetization Indian economy gradually moving towards the Cashless economy and increase the use of digital money. An increase of electronic transactions...

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New Developments from GSTN (Goods and Services Tax Network)

Views: 176 GSTN ( The Goods and Services Tax Network ), went live on November 8, 2016 last year, has over the year improvised the system to help lakhs of businesses to pay taxes and file returns under the new GST era every month. GSTN...

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Glimps of New development in EPFO

Views: 106 EPFO is resolved to reinforce the e-Governance framework to bring more straight forwardness and to give better administrations to its stakeholders. EPFO has just propelled various e-Governance activities, for example, Electronic Challan-cum-Return, Member e-passbook, installment through National Electronic Fund Transfer, Online Registration of...

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New Era of Direct Tax Legislation begin

Views: 144 New era of Direct Tax Legislation being with Constitution of Task Force for drafting a New Direct Tax Legislation During the Rajaswa Gyan Sangam held on 1st and 2nd September, 2017, the Prime Minister Shri Narendra Modi had observed that the Income-tax Act,...

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Appeal to Pass on GST rate reduction benefit to Consumers

Views: 204 The Chairperson of Central Board of Excise & Customs (CBEC) appeal to all the major Fast-Moving Consumer Goods (FMCG) companies to immediately revise the MRP on all the products in which the reduction of GST rate has been announced by the Council. The...

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Guidelines for adjustment under section 143(1)(a)(vi) of IT Act

Views: 5,026 Central Board of Direct Taxes (CBDT), issues guidelines for communication under section 143(1)(a)(vi) of the Act while considering returns for processing pertaining to ITR Forms 2, 3, 4, 5 & 6. Subject: Processing of income-tax returns filed in Forms ITR-2, 3, 4, 5...

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National Anti-profiteering Authority (NAA) under GST

Views: 123   The Government approves in cabinet meeting the establishment of the National Anti-profiteering Authority (NAA) under GST, after sharp reduction in the GST rates of many of items of mass consumption on 15th November, 2017. This paves the way for the immediate establishment...

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Snippet of 23rd meeting of GST Council at Guwahati

GST Council

Views: 177   Great relief to taxpayer given by GSTC in 23rd meeting of GST Council held at Guwahati, Assam on 10th November 2017. Relaxation given in filing of GSTR by extending due dates as well reduced late fee amount, also out of 227 items in...

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Due date of GSTR-2A, GSTR-1A and Procurement of goods from DTA by EOU

Views: 242 CBEC issues Circular No. 14/14/2017-GST : Procedure regarding procurement of supplies of goods from DTA by (EOU)/(EHTP Unit /STP Unit/BTP Unit, and Circular No. 15/15/2017-GST : Due date for generation of FORM GSTR-2A and FORM GSTR-1A in accordance with the extension of due...

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National Pension System Age Limit Increase to 65 Years

Views: 158   National Pension System : In continuance of the several initiatives under taken by Pension Fund Regulatory and Development Authority (PFRDA) during the last few years to increase the pension coverage in the country, PFRDA has now increased the maximum age of joining under...

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