Daily Archives: March 31, 2017

Insolvency and Bankruptcy Code 2016 certain sections Notified w.e.f 01.04.2017

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2017 S.O. 1005(E).—In exercise of the powers conferred by sub-section (3) of section 1 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Central Government hereby appoints the 1st April, 2017 as the date on which the provisions of the following sections of… Read More »

ITR 7 AY 2017-18 Hindi – Download – Print फार्म संख्या.:आ.क.वि.-7

ITR 7 AY 2017-18 Hindi फार्म संख्या.:आ.क.वि.-7 उन व्यक्तियों के लिए, जिनके अंतर्गत कंपनियां भी है, जिनसे धारा 139 (4क) या धारा 139 (4ख) या धारा 139 (4ग) या धारा 139 (4घ) या 139 (4ड) या धारा 139 (4च) के अधीन विवरणी प्रस्तुत करना अपेक्षित है ITR 7 AY 2017-18 Hindi Download ITR 7 AY… Read More »

ITR 5 AY 2017-18 Hindi -Download -Print -फार्म संख्या.:आ.क.वि.-5

ITR 5 AY 2017-18 Hindi फार्म संख्या.:आ.क.वि.-5 (i) व्यष्टि (ii) हिन्दू अविभक्त कुटुंब (iii) कंपनी और (iv) प्ररूप आई टी आर-7 फाईल करने वाले व्यक्ति से भिन्न व्यक्ति ITR 5 AY 2017-18 Hindi Download ITR 5 AY 2017-18 Acknowledgement in Hindi

ITR 4 AY 2017-18 Hindi – Download -Print – फार्म संख्या.:आ.क.वि.-4 – सुगम

ITR 4 AY 2017-18 फार्म संख्या.:आ.क.वि.-4 – सुगम भारतीय आयकर विवरणी व्यवसाय और वृत्ति से उपधारणात्मक आय के लिए Download ITR 4 AY 2017-18 Hindi Download ITR 4 AY 2017-18 Acknowledgement in Hindi

ITR 3 AY 2017-18 Hindi – Download -Print फार्म संख्या.:आ.क.वि.-3

ITR 3 AY 2017-18 फार्म संख्या.:आ.क.वि.-3 किसी सांपत्तिक कारबार या वृत्ति से आय वाले व्यष्टि और हिन्दू अविभक्त कुटुंब Download ITR 3 AY 2017-18 in Hindi Download ITR 3 AY 2017-18 Acknowledgement in Hindi

ITR 2 -AY 2017-18 Hindi -Download – Print फार्म संख्या.:आ.क.वि.-2

ITR 2 -AY 2017-18 Hindi फार्म संख्या.:आ.क.वि.-2 ऐसे व्यष्टि और हिन्दू अविभक्त परिवार जो किसी सवामित्व के अधीन कारबार या व्यवसाय कार्यान्वित नहीं कर रहे हो Download ITR 2 -AY 2017-18 Hindi Download ITR 2 -AY 2017-18 Acknowledgement in Hindi

ITR -1 AY 2017-18 Hindi Download -फार्म संख्या.:आ.क.वि.-1 – सहज

ITR -1 AY 2017-18 Hindi ऐसे व्यष्टि के लिए जिनका वेतन, एकल गृह सम्पत्ति, अन्य स्रोतों (ब्याज, आदि) से आय और जिनका कुल आय 50 लाख रूपए तक हो Income Tax Return -1 AY 2017-18 Download ITR -1 AY 2017-18 Hindi Download ITR-1 SAHAJ- AY 2017-18 Acknowledgement in Hindi ITR-1 SAHAJ- AY 2017-18 Utility in Excel for Online Return… Read More »

Bank Branch Audit Queries – Ask from Expert Panel of ICAI

AUDITING AND ASSURANCE STANDARDS BOARD CONSTITUTES EXPERT PANEL FOR ADDRESSING BANK BRANCH AUDIT RELATED QUERIES FOR THE FINANCIAL YEAR 2016-17 Dear Members, The bank audit season is around the corner. Given the fact that the banking industry is typical in terms of its geographical and customer spread, the volume and varied nature of products and… Read More »

Filing Income Tax Return after Return Treated as Invalid- after expiry of 15 days of issuance of notice u/s 139(9)

Income Tax Department considers issues reported by ICAI positively – (31-03-2017) 1.  Reactivation of the link ‘Know your PAN/TAN/A.O.’ at the website of Income-tax department Some recent changes were reported by the members at the E filing website of the Income-tax department due to which the link ‘Know your PAN/TAN/A.O.’ was not directly accessible. Accordingly, the… Read More »

USA – IRS Issues Extension for QI/WP/WT Agreement Renewals (and QDD Applicants) Due Date

  1.  IRS Issues Extension for QI/WP/WT Agreement Renewals (and QDD Applicants) Due Date The deadline of 3/31/17 for submitting a qualified intermediary (QI)/ foreign withholding partnership (WP)/foreign withholding trust (WT) request for renewal as well as for submitting a new application is fast approaching. In order to allow time for these entities to become better acquainted… Read More »

Category: USA

Download ITR-7 -AY 2017-18

ITR-7 -AY 2017-18 INDIAN INCOME TAX RETURN [For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F)] (Please see rule 12 of the Income-tax Rules,1962) (Also see attached instructions for guidance) Download ITR-7 -AY 2017-18 in English Download ITR-7 -AY 2017-18 Acknowledgement in English… Read More »

Download ITR-6 -AY 2017-18

 ITR-6 -AY 2017-18 INDIAN INCOME TAX RETURN [For Companies other than companies claiming exemption under section 11] (Please see rule 12 of the Income-tax Rules,1962) (Also see attached instructions) Download ITR-6 -AY 2017-18 in English Download ITR-6 -AY 2017-18 Acknowledgement in English Download ITR-6 -AY 2017-18  in Hindi Download ITR-6 -AY 2017-18 Acknowledgement in Hindi ITR-6… Read More »

Download ITR-5 -AY 2017-18

 ITR-5 -AY 2017-18 INDIAN INCOME TAX RETURN [For persons other than,- (i) individual, (ii) HUF, (iii) company and (iv) person filing Form ITR-7] (Please see Rule 12 of the Income-tax Rules,1962) (Also see attached instructions) Download ITR-5 -AY 2017-18 in English Download ITR-5 -AY 2017-18 Acknowledgement in English Download ITR-5 -AY 2017-18 in Hindi Download… Read More »

Download ITR-4 SUGAM -AY 2017-18

ITR-4 SUGAM-AY 2017-18 INDIAN INCOME TAX RETURN FOR PRESUMPTIVE INCOME FROM BUSINESS & PROFESSION ITR-4 SUGAM-AY 2017-18 in English ITR-4 SUGAM-AY 2017-18 Acknowledgement in English ITR-4 SUGAM-AY 2017-18 in Hindi ITR-4 SUGAM-AY 2017-18 Acknowledgement in Hindi   ITR-4 SUGAM-AY 2017-18 Utility in Excel for Online Return Filing (Zip File) Download ITR-4 SUGAM Zip File From IncometaxIndiaefiling.gov.in

Download ITR-3 -AY 2017-18

ITR-3 AY 2017-18 INDIAN INCOME TAX RETURN (For individuals and HUFs having income from a proprietary business or profession) (Please see rule 12 of the Income-tax Rules,1962) (Also see attached instructions) Download ITR-3 -AY 2017-18

Download ITR-2 AY 2017-18

ITR-2 AY 2017-18 INDIAN INCOME TAX RETURN [For Individuals and HUFs not carrying out business or profession under any proprietorship] (Please see Rule 12 of the Income-tax Rules,1962) (Also see attached instructions) Download ITR-2 AY 2017-18 in English Download ITR-2 AY 2017-18 Acknowledgement in English Download ITR-2 AY 2017-18 in Hindi Download ITR-2 AY 2017-18 Acknowledgement in Hindi

Download ITR-1 SAHAJ- AY 2017-18

ITR-1 SAHAJ- AY 2017-18 INDIAN INCOME TAX RETURN [For Individuals having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakh] (Refer instructions for eligibility) Download ITR-1 SAHAJ- AY 2017-18  in PDF in English Download ITR-1 SAHAJ- AY 2017-18 Acknowledgement in English Download ITR-1 SAHAJ- AY 2017-18  in Hindi Download ITR-1 SAHAJ-… Read More »

GST Migration FAQ

GST Migration (India) Q1. I am an existing PAN-based Service Tax (ST) and Central Excise (CE) assessee, and wish to enroll in GST. I have business premises and factories in the State of Telangana. Through the ACES portal, I received the Provisional ID and password for the State of Andhra Pradesh, whereas my Principle Place… Read More »

Key Changes in Income Tax law (India) w.e.f 1-4-2017

Changes in Income Tax law wef 1-4-2017 (A) Limit for payment of expenses by cash  (both, capital and revenue expenditure) reduced from Rs.20000 to Rs.10000 per day in aggregate per person. (B) No person shall receive an amount of 2 lakh rupees or more, by cash (Sec. 269ST). (C) For below Rs.2 crores turnover cases… Read More »

Employees’ Provident Funds (Third Amendment) Scheme, 2017

MINISTRY OF LABOUR AND EMPLOYMENT NOTIFICATION New Delhi, the 29th March, 2017 G.S.R. 298(E).—In exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme further to amend the Employees’… Read More »

Employees’ Provident Funds (Seventh Amendment) Amendment Scheme 2017.

NOTIFICATION New Delhi, the 29th March, 2017 G.S.R. 299(E).— In exercise of the powers conferred by section 5 read with sub-section (1) of section 7 of the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), the Central Government hereby makes the following Scheme to amend the Employees’ Provident Funds (Seventh Amendment) Scheme,… Read More »

Notification on Exemption under section 5 of Competition Act 2012

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th March, 2017 S.O. 988(E).—In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the enterprises being parties to – (a) any acquisition referred to in clause (a) of section… Read More »

Reg. notification specifying Increase in thresholds of De Minimis Exemption

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 27th March, 2017 S.O. 989(E).—In exercise of the powers conferred by clause (a) of section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby rescinds the notification of the Government of India in the Ministry of Corporate Affairs, S.O. 674(E), dated… Read More »

Export of carpet under duty drawback : CBEC Circular

Circular no. 10/2017-Cus F. No. 609/24/2017-D5K Government of India Ministry of Finance, Department of Revenue Central Board of Excise & Customs Drawback Division New Delhi, dated the 30th March, 2017 To All Principal Chief Commissioners of Customs/Customs (Prev)/Customs & Central Excise, All Chief Commissioners of Customs/Customs (Prev)/Customs & Central Excise, All Principal Commissioners of Customs/Customs (Prev)/Customs… Read More »

Disposal of seized/confiscated cigarettes of foreign origin – CBEC Guidelines

Circular No. 09/2017 – Customs F.No. 711/07/2003-Cus (AS) Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Anti-Smuggling Unit) New Delhi, dated the 29th March, 2017 To All Principal Chief Commissioners/ Chief Commissioners of Customs/Customs (Preventive), All Principal Chief Commissioners/ Chief Commissioners of Customs & Central Excise. All Principal Directors… Read More »

Launch of Income Tax Business Application (ITBA) – ITR Processing Module – Phase 1

ITBA-ITR Processing Instruction No. 1 DIRECTORATE OF INCOME TAX (SYSTEM) ARA Center, Ground Floor, E-2, Jhandewalan Extension, F.No. System/ITBA/I nstruction/ITR/112/2016-17 Dated: 30.03.2017 To The Principal Chief Commissioners of Income-tax/Pr DGsIT/ CCsIT/DGsIT (By Name) The Principal Commissioner of Income-tax/CsIT/CsIT(CO) (By Name) Subject: Launch of Income Tax Business Application (ITBA) – ITR Processing Module – Phase 1… Read More »

Demonetization -Companies to Disclose in Balance Sheet – MCA Notification

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2017 G.S.R. 308(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following further amendments to Schedule III of the said Act with effect from the date of publication… Read More »

Demonetization – Auditor to Make Disclosure in CARO Report

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2017 G.S.R. 307(E).—In exercise of powers conferred by section 143 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Audit and Auditors) Rules, 2014,… Read More »

USA -IRS Explains New Option for Claiming Research Credit for Small Business Startups

For Small Business Startups, IRS Explains New Option for Claiming Research Credit; Option Still Available for Those That Already Filed WASHINGTON –The Internal Revenue Service today issued interim guidance explaining how eligible small businesses can take advantage of a new option enabling them to apply part or all of their research credit against their payroll… Read More »

USA- 2016 IRS Data Book

IRS Releases FY 2016 Data Book Showing Range of Tax Data, Including Service and Enforcement Changes WASHINGTON — The Internal Revenue Service today released the 2016 IRS Data Book, a snapshot of agency activities for the fiscal year. The 2016 IRS Data Book describes activities conducted by the IRS from Oct. 1, 2015, to Sept.… Read More »

Companies (Meetings of Board and its Powers) Amendment Rules 2017.

Companies (Meetings of Board and its Powers) Amendment Rules 2017. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 30th March, 2017 G.S.R. 309(E).—In exercise of the powers conferred under sections 173, 175, 177, 178, 179, 184, 185, 186, 187, 188, 189 and section 191 read with section 469 of the Companies Act, 2013 (18 of… Read More »

Assignment of Lead Bank Responsibility after SBI Associate Bank Merger

RBI/2016-17/262 FIDD.CO.LBS.BC. No. 26/02.01.001/2016-17 March 30, 2017 The Chairmen and Managing Directors SLBC Convenor Banks Dear Sir, Assignment of Lead Bank Responsibility As per the Gazette of India Notification dated February 22, 2017, the merger of Associate banks with State Bank of India has been notified. The Order comes into effect on April 1, 2017.… Read More »

Category: RBI

Rationalisation of Merchant Discount Rate (MDR) for Debit Card Transactions – Continuance of Special Measures

RBI/2016-17/264 DPSS.CO.PD No.2737/02.14.003/2016-17 March 30, 2017 The Chairman and Managing Directors / Chief Executive Officers All Scheduled Commercial Banks including RRBs / Urban Co-operative Banks / State Co-operative Banks / District Central Co-operative Banks / Payments Banks and Small Finance Banks / All Card Network Providers Dear Madam / Sir, Rationalisation of Merchant Discount Rate… Read More »

Category: RBI