Depreciation – Rule 5 of Income Tax Rules Revised
The Central Board of Direct Taxes (CBDT), vide Notification No. 103/2016, dated 7th November, 2016 has inserted a new proviso by amending the Rule 5 of Income Tax Rules, 1962 w.e.f.…
Call for Financial Documents of the applicants for MEF 2016-17
Multipurpose Empanelment for the year 2016-17 Call for the Financial Documents of the applicants for Multipurpose Empanelment, for the year 2016-17. The above MEF has been selected as one of…
Transactions in Relation to which Quoting PAN is Mandatory
CBDT Press Release dated 17th Nov. 2016: Transactions in Relation to which Quoting PAN is Mandatory. The list under Rule 114B as on date requiring PAN to be quoted includes the following…
Currency Ban Latest News by Finance Secretary
1. Farmers can withdraw up to Rs 25,000 per week from the payment they receive for agriculture produce in form of cheque or RTGS. 2. Central government employees, up to…
CBDT notification amended cash deposit information rules
CBDT: AIR details to be filed by banks and post offices with Income Tax Department by 31st January 2017, if cash deposited more than Rs. 12.5 Lacs in current a/c…
Move to Supreme Court against de-monetization of 500 & 1000 notes
Two petitions have been filed in the Supreme Court of India challenging the decision of the Central government to de-monetize 500 and 1000 notes. Both the petitioners are practising lawyers…
FAQs on withdrawal of old high denomination Bank Notes
FREQUENTLY ASKED QUESTIONS (FAQs) ON WITHDRAWAL OF LEGAL TENDER CHARACTER OF OLD HIGH DENOMINATION BANK NOTES 1. Why is this scheme introduced? The incidence of fake Indian currency notes in…
Annual Return Form for Central Excise & Service Tax
Circular No. 1050/38/2016-CX F.No. 207/0512014-CX.6 Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs North Block, New Delhi Dated the 8th of November, 2016…
GST Update: Enrolment activation drive for your state
GST Update- Enrolment activation drive for your state Goods and Service Tax Network (GSTN) has provided the procedures for the transition to the GST for the existing taxpayers of VAT, Service…