Daily Archives: May 26, 2017

CPT June 2017 Examination Admit Cards

By | May 26, 2017

Admit cards in respect of candidates admitted to the CPT June 2017 examination, with their photographs and signatures on them, are hosted on icaiexam.icai.org No physical admit cards will be sent to any candidate. Candidates are required to download and print their admit cards from the website. In terms of the decision of the Examination… Read More »

GST Composition scheme can’t be opted from middle of Year

By | May 26, 2017

GST Composition scheme Availment Video tutorial by CA Satbir Singh on last date to apply GST Composition scheme 1. Can we switch to GST composition scheme from Regular ? 2. Is there any last date to apply for composition scheme during the year?  3. Can we take fresh GST registration under composition scheme and cancel… Read More »

Add/ Register as Representative on Income Tax India e-Filing portal

By | May 26, 2017

Add/ Register as Representative on IncomeTaxIndiaEfiling A new functionality “Add/ Register as Representative” is enabled in e-Filing portal. The existing functionalities of “Legal Heir”, “Liquidator” and “Person Competent to Verify” are consolidated into a single functionality along with additional categories. Central Board of Direct Taxes, e-Filing Project- User Manual-Add/ Register as Representative  Introduction As per… Read More »

Insolvency and Bankruptcy Code (Removal of Difficulties) Order 2017.

By | May 26, 2017

MINISTRY OF CORPORATE AFFAIRS ORDER New Delhi, the 24th May, 2017 S.O. 1683(E).—Whereas, the Insolvency and Bankruptcy Code, 2016 (31 of 2016) (hereinafter referred to as the said Code) received the assent of the President on 28th May, 2016 and was published in the official Gazette on the same date; And, whereas, section 252 of… Read More »

Atal Pension Yojana (APY) reaches 53 lakhs subscribers’ base

By | May 26, 2017

Atal Pension Yojana (APY) reaches 53 lakhs subscribers’ base 235 Banks and Department of Post involved with APY implementation 97.5% of the subscribers contributing at monthly intervals; 51.5% subscribers have opted for a monthly pension of Rs. 1000 The subscribers base under the Atal Pension Yojana (APY) has reached about 53 Lakhs. At present 235… Read More »

Statement of Financial Transaction (SFT) & SFT Preliminary Response – CBDT Clarify

By | May 26, 2017

Central Board of Direct Taxes (CBDT) Issues Clarification on furnishing Statement of Financial Transaction (SFT) & SFT Preliminary Response Section 285BA of the Income-tax Act, 1961 requires furnishing of a Statement of Financial Transaction (SFT) for transactions prescribed under Rule 114E of the Income-tax Rules, 1962. The due date for filing such SFT in Form… Read More »

Example Rule 9 GST Input Tax Credit Rules – Reversal of ITC on Inputs & Capital Goods

By | May 26, 2017

Reversal of Input Tax Credit on Inputs and Capital Goods A registered person needs to Reverse the Input tax Credit on Inputs and Capital Goods  , If person who has availed Input Tax Credit and  Opt for Composition Scheme , or  Where the goods or services or both supplied by him become wholly exempt or… Read More »

ITDREIN Meaning

By | May 26, 2017

ITDREIN TDREIN means Income Tax Department Reporting Entity Identification Number .ITDREIN is the Unique ID issued by Income Tax Department (ITD)  which will be communicated by ITD after the registration of the reporting entity with ITD The ITDREIN is a 16-character identification number in the format XXXXXXXXXX.YZNNN where XXXXXXXXXX  PAN or TAN of the… Read More »