Daily Archives: October 11, 2017

Sovereign Gold Bonds Scheme, Operational Guidelines (Revised)

By | October 11, 2017

Sovereign Gold Bonds Scheme, Operational Guidelines (Revised) RBI/2017-18/72 IDMD.CDD.No.927/14.04.050/2017-18 October 06, 2017 The Chairman & Managing Director All Scheduled Commercial Banks (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bonds Scheme, Operational Guidelines This has reference to… Read More »

Sovereign Gold Bond Scheme : Now to be Issued Weekly

By | October 11, 2017

RBI/2017-18/71 IDMD.CDD.No.929/14.04.050/2017-18 October 06, 2017 The Chairman & Managing Director All Scheduled Commercial Banks, (Excluding RRBs) Designated Post Offices Stock Holding Corporation of India Ltd.(SHCIL) National Stock Exchange of India Ltd. & Bombay Stock Exchange Ltd. Dear Sir/Madam, Sovereign Gold Bond Scheme Government of India has vide its Notification F.No. 4(25)-B/(W&M)/2017 dated October 06, 2017 announced… Read More »

ITR 1 Processing u/s 143(1) of Income Tax : CBDT Instruction No 9/2017

By | October 11, 2017

Summary :- As per Section 143 (a)(vi) ( inserted by the Finance Act, 2016, w.e.f. 1-4-2017 )  The total income or loss shall  be computed after making the following adjustments, namely: (vi) addition of income appearing in Form 26AS or Form 16A or Form 16 which has not been included in computing the total income in the return:… Read More »

Direct Tax Collections for F.Y. 2017-2018 increased by 15.8% upto Sep 2017

By | October 11, 2017

Direct Tax Collections for F.Y. 2017-2018 show Growth of 15.8% up to September, 2017 The provisional figures of Direct Tax collections up to September, 2017 show that net collections are at Rs. 3.86 lakh crore which is 15.8% higher than the net collections for the corresponding period of last year. Net Direct Tax collections represent 39.4% of the total Budget Estimates… Read More »

I am not able to login to GST portal : Solution

By | October 11, 2017

I am not able to login to gst portal, as it shows that username/password not valid. how to reset it. In case you have forgot your username or password, you can reset it by following this procedure;To retrieve your username, you need to perform the following steps: 1. Access the URL https://www.gst.gov.in/. The GST Home… Read More »

Category: GST

How to Change GST registration if Authorized Signatory resigned

By | October 11, 2017

My prime authorised person has resigned. how to change it in registration details and how to add new authorised person in registration details. is there any time limit for doing so.? If that authorized signatory is not the partner/promoter, This can be corrected through non Core amendment. Services>Registration> Amendment of Registration Non-Core field .In case… Read More »

Category: GST

Rate of GST on sale of scraped buses : Writ Plea couldn’t be allowed : HC

By | October 11, 2017

  HIGH COURT OF KARNATAKA M.J.S. Enterprises v. Controller of Stores & Purchase DR. VINEET KOTHARI, J. WRIT PETITION NOS. 42013-42023 OF 2017 SEPTEMBER  13, 2017 M.N. Shankare Gowda, Adv. for the Petitioner. T.K. Vedamurthy, AGA for the Respondent. ORDER 1. The petitioners, who are the auction purchasers of the scrap or intending Bidders have approached this Court by… Read More »

USA IRS : Statistics of Income Data Releases

By | October 11, 2017

Statistics of Income Data Releases  1.  Individual Income Tax Percentile Tabulations, Tax Year 2015 Tabulations presenting Tax Year 2015 individual income tax percentile statistics are now available on SOI’s Tax Stats Web page. The tabulations present individual income tax return statistics on the number of returns, adjusted gross income, selected income items, credits, total income tax,… Read More »

USA IRS – Funding methods for retirement plans : RP-2017-56 & RP-2017-57

By | October 11, 2017

Funding methods for retirement plans Revenue Procedure 2017-56 updates Rev. Proc. 2000-40 to take into account the provisions of § 430 of the Internal Revenue Code, which was enacted as part of the Pension Protection Act of 2006.  This revenue procedure provides automatic approval for certain changes in funding method used for single-employer defined benefit plans… Read More »

Double invoices in GSTR 1 on GST Portal

By | October 11, 2017

  Q :After uploading of invoices through offline tool for GSTR-1, they are being reflected at the portal and are double in number. Doubling happens when the same invoices are again uploaded with minor changes in the invoice number like prefixing of a 0 or addition of a “/” Related Topic on GST  Topic Click… Read More »

Category: GST

USA IRS : e-Services Scam Alert

By | October 11, 2017

e-Services Scam Alert e-Services Users, The IRS today warned all e-Services users to beware a new phishing scam that tries to trick tax professionals into “signing” a new e-Services user agreement. The phishing scam seeks to steal passwords and data. All tax professionals should be aware that as e-Services begins its move later this month… Read More »

Preview of invocies on GST Portal

By | October 11, 2017

Preview of invoices are not available either partially or fully under different sections of GSTR-1. Pre-view of summary is available. If the invoices count is less than 500, one can click the tile and drill down GSTIN to view the invoices. If the invoices number is more than 500, one can view invoices by downloading… Read More »