Daily Archives: March 3, 2017

Various Threshold Limits under Income Tax Act -AY 2017-18

Various Threshold Limits under the Income Tax Act [AY 2017-18] S.N. Particulars Threshold Limits A. Basic Exemption 1. Maximum amount of income which is not chargeable to Income-tax in case of Individual, HUF/ AOP/ BOI/ Artificial Juridical Person Rs. 2,50,000 2. Maximum amount of income which is not chargeable to Income-tax in the hands of… Read More »

Pension Claim Form -Aadhaar – Form 10D Revised -UAN based

Pension Claim Form -Aadhaar – ( Form 10D Revised ) Source : Emplyees Provident Fund Organisation Circular No.Pension-1/7(1)/96/2017/Forms Dated 03.03.2017 Simplified  UAN based pension claim Form 10D has been revised as Pension claim Form (Aadhaar) (topy enclosed) All the RPFCs/OICs of ROs/SROs are hereby requested to accept Pension claim Form(Aadhaar) with immediate effect subject to… Read More »

Composite Claim Form in Death Cases to replace Form 20 (PF Payment)/ Form 10D (Pension) Form 5 IF (EDLI)

Composite Claim Form in Death Cases  by replacing Form 20 (PF Payment)/ Form 10D (Pension) Form 5 IF (EDLI). In case of Death of EPF member , the Claimant may apply for Claim of Provident Fund, Insurance Fund and Monthly pension in this Form Circular No Manual/Amendment/2011/pt/163 of Employees Provident Fund Organations Dated 03.03.2017 Download… Read More »

No GST Credit If Vendors aren’t Paid in 90 Days

No GST Credit If Vendors aren’t Paid in 90 Days Revised Model GST Law,  appears to deny tax credit in relation to input services for which payments are made after three months of the date of the invoice of the supplier In fact the proposal mandates payment of interest in addition to the denial of… Read More »

Category: GST

legal notice to taxpayers if not responded to cash deposit verifications : Income Tax Department

CBDT to issue legal notice to taxpayers who haven’t responded to cash deposit verifications Summary : – After The Govt. had demonetized Rs500 and Rs1,000 notes on 8 November 201, Central Board of Direct taxes (CBDT) had sent emails and text messages to around 1.8 million taxpayers whose cash deposits during 08.11.2016 to 30.12.2016 looks suspicious  .… Read More »

Power of Attorney Act 1881 (Lawmann’s) – 2017 Edition Book

Power of Attorney Act 1881 (Lawmann’s) 2017 Edition Book Contents :– 1. Power of Attorney Act 1882 [An Act to amend the law relating to Power-of Attorney.] 2. For the purpose of amending the law relating to Powers-of-Attorney; 3. it is hereby enacted as follows:-Introduction Execution under Power-of-Attorney Payment by Attorney under Power 4. without Notice… Read More »

Indian Succession Act 1925 (Lawmann’s) 2017 Edition Book

Indian Succession Act 1925 (Lawmann’s) 2017 Edition Book **Indian Succession Act, 1925 **Domicile **Marriage **Consanguinity **Interstate Succession **Distribution Where There are Lineal Descendants **Special Rules for PARSI Intestates **The execution of Unprivileged Wills **Privileged wills **The Attestation, Revocation, Alteration and Revival of Wills **The Construction of Wills **Void Bequests **The Vesting of Legacies **Onerous Bequests… Read More »

Pre-Conception and Pre-natal Diagnostic Techniques (Prohibition of Sex Selection) Act 1994 (Lawmann’s) – 2017 Edition Book

Pre-Conception and Pre-natal Diagnostic Techniques (Prohibition of Sex Selection) Act, 1994 (Lawmann’s) – 2017 Edition Book Contents : 1. An Act to provide for the prohibition of sex selection before or after conception and for regulation of pre-natal diagnostic techniques for the purposes of detecting genetic abnormalities or metabolic disorders or Chromosomal abnormalities or certain congenital… Read More »

Electricity Act 2003 by Lawmann’s – 2017 Edition Book

Electricity Act 2003 by Lawmann’s – 2017 Edition Book Alongwith@ **Electricity Rules, 2005 **Forum of Regulators Rules, 2005 **Appellate Tribunal for Electricity (Procedure, Form , Fee and Record of Proceedings) Rules, 2007 **Works of Licensees Rules, 2006 **Qualifications, Powers and Functions of Chief Electrical Inspector and Electrical Inspectors Rules, 2006 **Central Electricity Regulatory Commission (From… Read More »

Registration Act 1908 (Lawmann’s) -2017 Edition Book

Registration Act 1908 (Lawmann’s) -2017 Edition Book Registration Act, 1908 **The Registration-Establishment **Registrable Documents **The Time of Presentation **The Place of Registration **Presenting Documents for Registration **Enforcing The Appearance of Executants and Witnesses **Presenting Wills and Authorities to Adopt **The Deposit of Wills **The Effects of Registration and Non-Registration **The Duties and Powers of Registering… Read More »

Law and Practice of Prohibition of Benami Property – 2017 Book – by PAV Law Offices

Law and Practice of the Prohibition of Benami Property Transactions Act, 1988 (As Amended by Act No. 43 of 2016) by PAV Law Offices (Author) The book is a very useful referencer and a guide for a person who may be a property owner, tax payer, tax authority, enforcement officers, professional(s), student(s), research scholar and consumers.… Read More »

Issue considered by AO in scrutiny assessment can not be reopened u/s 147 , it is Change of Opinion

Held when it is found that the entire issue was gone into by the Assessing Officer while framing the scrutiny assessment under Section 143(3) of the Act and thereafter reopening of the assessment on the very issue can be said to be change of opinion, which is not permissible, HIGH COURT OF GUJARAT Manan Exports… Read More »

Legal Literacy Video Contest 2017 -submit Entries for AWARDS

Legal Literacy Video Contest 2017 The Department of Justice, Ministry of Law and Justice seeks to collaborate and converge with various government and non-government agencies for wider dissemination of legal literacy and the ensuing objective of Access to Justice. The Department of Justice has been allocated with the function of legal aid to poor; administration… Read More »

Who can impound a passport – Judgment

Impounding of passport Held Even the Court cannot impound a passport. Though, no doubt, Section 104 Cr.P.C. states that the Court may, if it thinks fit, impound any document or thing produced before it, in our opinion, this provision will only enable the Court to impoundany document or thing other than a passport. This is… Read More »

Indirect transfer tax provisions should be extended to Category III FPI – Budget 2017-18 Suggestions

 Suggestions on Clause 4 of Finance Bill 2017 – Section 9(1)(i)- Benefit of non-applicability of indirect transfer provisions in case of Category I and II FPIs – Benefit to be extended to Category III FPIs and provisions for avoidance of double taxation in case of such indirect transfer provisions, where direct transfer has already been… Read More »

Book 2017- GST Laws, Concepts & Impact Analysis of Select Industries by Sanjiv Agarwal

Goods and Services Tax – Laws, Concepts & Impact Analysis of Select Industries [2017 edition]  by Sanjiv Agarwal Publisher: Bloomsbury Professionals (2017) This Book has 882 page.  Book covering GST concepts and provisions based on model law (CGST/ SGST / IGST in Part-A (20 Chapters), Impact Analysis of Select Industries / Sectors of Economy in… Read More »

271J Penalty on CA/ Professionals – Reasons for removal -Budget 2017-18 Suggestions

Suggestions on Clause 86 of Finance Bill 2017- Section 271J- Penalty imposable on chartered accountant for furnishing incorrect information in reports or certificates – Penalty may be removed In order to ensure that the person furnishing report or certificate undertakes due diligence before making such certification, new section 271J is proposed to be inserted so… Read More »

USA- IRS -Debt Cancellation May be Taxable

Debt Cancellation May be Taxable If a lender cancels part or all of a debt, a taxpayer must generally consider this as income. However, the law allows an exclusion that may apply to homeowners who had their mortgage debt canceled in 2016. Here are 10 tips about debt cancellation: Main Home. If the canceled debt… Read More »

Book – Rural Banking Operations (2nd Edition 2017) by IIBF

Rural Banking Operations (2nd Edition 2017) by IIBF (Author) This book, specially written for the “Certificate Examination on Rural Banking Operations” pertains to the functioning of commercial banks, Co-operative banks and the RRBs in India. The rural economy of India has been playing an important role towards the overall growth of the country. The Rural Banks/… Read More »

Book – Investment Planning Tax Planning and Estate Planning (2017 Edition) -IIBF

Investment Planning Tax Planning and Estate Planning (2017 Edition) by IIBF This book provides a comprehensive coverage of the securities market and related financial investment products. It focuses on Indian debt market, types of debt securities, Repos, bond valuation and fixed income derivatives etc. This book also covers investment decision-making process, efficient market hypothesis, aspects of… Read More »

Book -Customer Service & Banking Codes and Standards (2nd Edition 2017) by IIBF

Customer Service & Banking Codes and Standards (2nd Edition 2017) by IIBF (Author) The book on Customer Service & Banking Codes and Standards has been prepared keeping in view the syllabus for the Institute’s Certificate Course on the subject. The book has four modules while Modules A, B, and C deal with customer banker relationships, customer… Read More »

Information System for Banks -Books (2nd Edition 2017) by IIBF

Information System for Banks (2nd Edition 2017) Book by IIBF (Author) Increasing use of technology in banks has made dealings easier for customers and speeded up the operations. Meanwhile, there is a corresponding increase of risks in operations. Every bank should conduct Information Systems Audit (ISA) to minimize such risks. Following RBI’s guidelines, a number of… Read More »

International Trade Finance Book (2017 Edition) by IIBF

International Trade Finance (2017 Edition)  by IIBF The book on International Trade Finance provides a systematic and comprehensive overview of the international trade finance practices with emphasis on the procedures, documentation and regulatory framework insofar as international trade finance is concerned. The book is intended to assist practitioners and students to gain an understanding of… Read More »

MSME Book 2017 Edition by IIBF

Micro, Small and Medium Enterprises in India (2017 Edition) This book is primarily meant as courseware for students taking the Institute’s Certificate in Micro, Small and Medium Enterprises (MSMEs). The book is made up of 8 chapters and covers all aspects starting from setting up an MSMEs, legal and regulatory aspects, financing options and modes… Read More »