Daily Archives: April 3, 2017

Voluntary Liquidation Process Regulations 2017 Notified by IBBI – Download

By | April 3, 2017

INSOLVENCY AND BANKRUPTCY BOARD OF INDIA NOTIFICATION New Delhi, the 31st March, 2017 INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (VOLUNTARY LIQUIDATION PROCESS) REGULATIONS, 2017 IBBI/2016-17/GN/REG010. – In exercise of the powers conferred by sections 59, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Board hereby… Read More »

Bill of Entry – Revised Regulations Notified by CBEC 31.03.2017

By | April 3, 2017

MINISTRY OF FINANCE Department of Revenue [CENTRAL BOARD OF EXCISE AND CUSTOMS] NOTIFICATION New Delhi, the 31st March, 2017 No. 26/2017-Customs (N.T.) G.S.R. 323(E).—In exercise of the powers conferred by section 157 read with section 46 of the Customs Act, 1962(52 of 1962), the Central Board of Excise and Customs hereby makes the following regulations… Read More »

GST FAQ -Returns Process and matching of ITC- 31.03.2017 by CBEC

By | April 3, 2017

Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Returns Process and matching of Input Tax Credit Chapter 12 Q 1. What is the purpose of returns? Ans. a) Mode for transfer of information to tax administration; b) Compliance verification program of tax administration; c) Finalization of the tax liabilities of the taxpayer within… Read More »

GST FAQs – Input Service Distributor -ISD – 31.03.2017 by CBEC

By | April 3, 2017

Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Concept of Input Service Distributor in GST Chapter 11 Q 1. What is Input Service Distributor (ISD)? Ans. ISD means an office of the supplier of goods or services or both which receives tax invoices towards receipt of input services and issues a prescribed document… Read More »

GST FAQs – Electronic Commerce- 31.03.2017 by CBEC

By | April 3, 2017

Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Electronic Commerce Chapter 8 Q 1. What is Electronic Commerce? Ans. Electronic Commerce has been defined to mean the supply of goods or services or both, including digital products over digital or electronic network. Q 2. Who is an e-commerce operator? Ans. Electronic Commerce Operator… Read More »

GST FAQ -Registration – 31.03.2017 by CBEC

By | April 3, 2017

Goods and Service Tax (India) – FAQ 31.03.2017 by CBEC Registration Chapter 3 Q 1. What is advantage of taking registration in GST? Ans. Registration under Goods and Service Tax (GST) regime will confer following advantages to the business: Legally recognized as supplier of goods or services. Proper accounting of taxes paid on the input… Read More »

No TDS u/s 195 on crediting income to payee if taxable on receipt basis under treaty: ITAT

By | April 3, 2017

Held When the income embedded in the payment is not liable to be taxed at the point of time when account of the non-resident was credited, in view of the fact that, under the related DTAA, tax liability can only arise at the point of a subsequent event i.e. payment. When income embedded in the… Read More »

3CFA Option form for taxation of royalty from patent u/s 115BBF – Notification by CBDT

By | April 3, 2017

 Taxation of royalty from patent u/s  115BBF Summary : CBDT has notified new Rule 5G of the Income-tax Rules 1962 for Option form for taxation of royalty from patent u/s  115BBF and Notified  Form No. 3CFA. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 31st March, 2017 INCOME-TAX G.S.R.… Read More »

No TCS on Cash Sale of Goods or Services or Jewellery w.e.f 01.04.2017

By | April 3, 2017

TCS on Cash Sale of Goods or Services w.e.f 01.04.2017 Finance Act 2017  had Deleted the Clause 206C(1D) and (IE) from Income Tax Act w.e.f 01.04.2017 . Thus person is not required to collect TCS on Cash Sale of Goods or services or bullion ( exceeding Rs 2 Lakh)  or jewellery (exceeding Rs 5 Lakh ) w.e.f… Read More »

Law & Procedure on Charitable Trusts & Religious Institutions -2017 Edition 16th Book-S.Rajaratnam

By | April 3, 2017

LAW AND PROCEDURE ON CHARITABLE TRUSTS AND RELIGIOUS INSTITUTIONS Paperback – 2017 by S.Rajaratnam (Author), M.Natarajan (Author), C.P.Thangaraj (Author) -16th Edition 2017-18 (A.Y. 2018-19) AN INDISPENSABLE GUIDE RELATING TO TAX AND OTHER MATTERS FOR VOLUNTARY AGENCIES. AS AMENDED BY THE FINANCE ACT, 2017 Price Rs 2077. Click to buy Online Related Books on Income Tax Subjects… Read More »