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Extension of ad-hoc appointments of 57 IRS officers to JCIT Grade
F. No. A-32012/2/2015-Ad.VIGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct Taxes)North Block, New DelhiThe 25th May. 2018ORDER NO. 76 OF 2018 The President is pleas...
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No change in GST law & taxation relating to farmers since July, 2017
No change in the GST law and taxation relating to farmers since July, 2017; Support Services to agriculture, forestry, fishing or animal husbandry are exempt from GST; Agriculturists are also exempted...
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Time to submit suggestions on new Direct Tax Law extended by 3 months to June 15, 2018
Stakeholder engagement by the Task Force drafting the New Direct Tax Law extended by a period of three months up to June 15, 2018The Term of the Task Force constituted to review the existing Income-ta...
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CAs play a vital role in financial health of an economy
Address by Hon’ble Justice Ms. Indu Malhotra, Judge, Supreme Court of India during 375th Council Meeting of Institute. – (25-05-2018)May 25, 2018ICAI PRESS RELEASEAddress by Hon’ble Justice Ms. Indu M...
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No Tax on issue of share capital by eligible start-ups at excess premium: CBDT
MINISTRY OF FINANCE(Department of Revenue)(Central Board of Direct Taxes)Notification No. 24/2018New Delhi, the 24th May, 2018INCOME-TAXS.O. 2088(E).—In exercise of the powers conferred by the clause...
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After 55 days CBDT Releases Java Utility of ITR-6
Today CBDT has finally released after 55 days of start of Assessment Year 2018-19 Java Utility of ITR-6 applicable to Companies other than companies claiming exemption under section 11.It is worthy to...
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Representation by ITAT Bar Association on Registrar of ITAT presiding over a Court
Text of representation filed by the ITAT Bar Association to the Hon’ble President of the ITAT Dated: 24th May 2018ToThe Hon’ble President of Income Tax Appellate TribunalPrathishta Bhavan,Mumbai- 400...
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Rajasthan GST: Extension of Time Limit to conclude Inspection Proceedings
Additional Commissioner, State Tax, Anti Evasion, Joint Commissioner (Adm.), Anti Evasion and all the Joint Commissioner (Adm.), State Tax can Extend Time Limit to Conclude Inspection Proceedings unde...
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S. 56 CA cannot do Valuation of unquoted equity shares under DCF method
Income Tax Rule 11UA deals with Valuation of jewellery, archaeological collections and shares and securities for the purpose of Section 56. As per Clause (b) of Sub-Rule 2 of Rule 11UA earlier merchan...
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2 Arrested in Delhi for GST evasion of Rs. 28 Crore
Press Information BureauGovernment of IndiaMinistry of Finance24-May-2018 10:44 ISTArrest made by Central Tax, Delhi East Commissionerate involving GST evasion of Rs. 28 CroreCentral Tax, GST Delhi Ea...
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e-Way Bill Roll out for intra-State goods movement wef 25.05.2018
Ewaybill system for intra-State movement of goods to be implemented from 25.05.2018 in the state of Maharashtra and Manipur and in following UTs Andaman & Nicobar Islands,Chandigarh,Dadra & Nagar Have...
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IEPF Authority (Accounting, Audit, Transfer and Refund) Third Amendment Rules, 2017
MINISTRY OF CORPORATE AFFAIRSNOTIFICATIONNew Delhi, the 22nd May, 2018G.S.R. 472(E).—In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8), (9), (10) and (11) of section 125 and...
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Net Direct Tax collections crossed Rs.10.03 lakh crore in 2017-18
During the last Financial Year 2017-18, Net Direct Tax collections have crossed Rs.10.03 lakh crore mark which is 18% higher than the collections during the FY 2016-17:GROWTH IN DIRECT TAX REVENUES:1....
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Facility to change return frequency available on GST Portal
Facility to change return frequency for normal taxpayer is now available on GST PortalTaxpayers whose turnover is above Rs. 1.5 Cr and who have wrongly selected option as quarterly filing, now has bee...
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Extended time to Task Force for drafting New Direct Tax Legislation
F No 370149/230/2017Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)******New Delhi, dated 22nd May, 2018OFFICE ORDERIn order to review the existi...
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Facility to pay reduced penalty U/s. 74 is now available on GST Portal
In case Demand ID is created under Section 74 of the CGST Act, 2017, the GST Portal now allows reduced payment towards penalty, as per law.A message is shown to the user, about the reduction in amount...
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After 50 days CBDT Releases Java Utility of ITR-5 & ITR-7
Today CBDT has finally released after 50 days of start of Assessment Year 2018-19 Java Utility of ITR-5 (For persons other than:- (i) Individual,(ii) HUF,(iii) Company and (iv) Person filing Form ITR-...
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E-way bill within state of Punjab to commence from 01.06.2018
GOVERNMENT OF PUNJABDEPARTMENT OF EXCISE & TAXATIONPUBLIC NOTICEKIND ATTENTION: DEALERS/CHARTERED ACCOUNTANTS/LAWYERS/OTHER STAKEHOLDERS1. Generation of e-Way Bill for intra-state movement of goods in...
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Form GSTR 3B due date for April 2018 extended to 22.05.2018
Press Release on extension of date for filing return in FORM GSTR-3B for the month of April, 2018 till 22nd May, 2018Press Release18th May, 2018Extension of date for filing return in FORM GSTR-3B for...
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Draft framework for participation of foreign entities in Indian commodity derivatives market’
Consultation paper on draft framework for participation of foreign entities,having actual exposure to Indian commodity markets, in the commodityderivatives market 1. Objective1. The objective of the c...