Daily Archives: March 15, 2018

Advance tax couldn’t be treated as tax paid under PMGKY : Delhi HC

By | March 15, 2018

HIGH COURT OF DELHI Virag Tiwari v. Principal Commissioner of Income-tax SANJIV KHANNA AND MS. PRATHIBA M. SINGH, JJ. WRIT PETITION (CIVIL) NO. 6312 OF 2017 MARCH  12, 2018 Balbir Singh, Sr. Adv. Rajesh Jain and Ms. Rubal Bansal, Advs. for the Petitioner. Zoheb Hossain, Sr. Standing Counselfor the Revenue. ORDER Sanjiv Khanna, J. – The writ petitioner, an advocate by profession and… Read More »

Recovery of Tax under GST

By | March 15, 2018

GST  – RECOVERY OF TAX 1. Tax administration occasionally comes across situations  where the tax dues are not paid correctly by the tax payers, most of the times inadvertently and sometimes deliberately. To minimise the inadvertent short payment of taxes, the concept of ‘Matching’ details of ‘Outward supplies’ of supplier with the details of ‘Inward supplies’ of recipient… Read More »

Circular No 37/11/2018 GST : exports related refund issues clarified by CBEC

By | March 15, 2018

Circular No 37/11/2018 GST Clarifications on exports related refund issues .Circular No 37/11/2018 GST  Dated the 15th March, 2018 F. No.349/47/2017-GST Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs GST Policy Wing New Delhi, Dated the 15th March, 2018 To, The Principal Chief Commissioners/Chief Commissioners/Principal Commissioners/ Commissioners of… Read More »

TDS on Rent of Property : Section 194IB: FAQs : Form 26QC & Form 16C

By | March 15, 2018

TDS on Rent Section 194IB of Income Tax Act What is TDS on Rent? The Finance Act, 2017 has introduced section 194-IB providing that Tenant of a property making monthly rent payment exceeding Rs 50, 000 is required to deduct tax at the rate of 5% from the rent payable to a resident landlord. Who… Read More »

Agency commission payable to banks for operating Special Deposit Scheme (SDS)

By | March 15, 2018

Agency commission payable to banks for operating Special Deposit Scheme (SDS) RBI/2017-18/140 DGBA.GBD.2294/15.01.001/2017-18 March 15, 2018 All Agency Banks handling Special Deposit Scheme Dear Sir, Agency commission payable to banks for operating Special Deposit Scheme (SDS) Please refer to para 2 of our Master Circular RBI/2017-18/2 dated July 1, 2017 on Conduct of Government Business by Agency… Read More »

Category: RBI

 Cashless Ticket Booking In Railways

By | March 15, 2018

Ministry of Railways  Cashless Ticket Booking In Railways Posted On: 14 MAR 2018 5:24PM by PIB Delhi Following schemes have been introduced for promotion of cashless transaction on Indian Railways:- i. The facility of online booking of reserved tickets has been provided through Indian Railway Catering and Tourism Corporation (IRCTC) website. The payment for tickets… Read More »

Discontinuation of pasting of reservation chart by Railways

By | March 15, 2018

Ministry of Railways    Discontinuation of pasting of reservation chart Posted On: 14 MAR 2018 5:22PM by PIB Delhi Based on a similar successful experiment conducted by South Western Railway, the practice of pasting of reservation charts on train coaches was discontinued at New Delhi, Hazrat Nizamuddin, Bombay Central, Chennai Central, Howrah and Sealdah stations… Read More »