Daily Archive: Tuesday, August 1, 2017

Recovery of undisclosed income post demonitization

Author: | Categories: Black Money No comments
Recovery of undisclosed income post demonitization Press Information Bureau  Government of India Ministry of Finance 01-August-2017 17:47 IST Recovery of undisclosed income post demonitization  With a view to curbing financing of terrorism through the proceeds of Fake Indian Currency Notes (FICN) and use of such funds for subversive activities

 

Increase in number of Income Tax payers after demonetisation

Author: | Categories: Income Tax No comments
Increase in number of Income Tax payers after demonetisation Press Information Bureau  Government of India Ministry of Finance 01-August-2017 17:45 IST Increase in number of Income Tax payers after demonetisation The number of income tax payers has increased after demonetization. During the period of 09.11.2016 to 31.03.2017, 1.96 crore

 

Duplicate and Fake PANs identified and deleted or de-activated by the Government

Author: | Categories: Finance Ministry No comments
Duplicate and Fake PANs identified and deleted or de-activated by the Government. 11,44,211 PANs identified as duplicate and 1,566 PANs identified as Fake Press Information Bureau  Government of India Ministry of Finance 01-August-2017 17:46 IST Mandating Aadhaar linkage to PAN cards  Permanent Account Number (PAN) is the key identifier

 

Section 68 not attracted to amount representing credit purchases. Findings of ITAT upheld by High Court

Author: | Categories: High Courts, Income Tax, Judgments No comments
Section 68 not attracted to amount representing credit purchases. Findings of ITAT upheld by High Court   ABCAUS Case Law Citation: ABCAUS 2012 (2017) (08) HC The respondent assessee was a Government Contractor in the business of road construction. His return of income was selected for scrutiny and the

 

Exemption under GST for small businesses-Registration threshold and composition scheme

Author: | Categories: GST No comments
Exemption under GST for small businesses. No GST Registration required for turnover up to Rs. 20 lakh, Composition scheme provided for benefit of small business Press Information Bureau  Government of India Ministry of Finance 01-August-2017 17:44 IST Reduction/exemption of tax rates under GST for small businesses  The Government has

 

GST FAQ Food Processing under Sectoral Series issued by CBEC

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GST FAQ Food Processing under Sectoral Series issued by CBEC GST FAQ: Food Processing Question 1: If I have multiple manufacturing units in a State/UT, do I have to register all my companies separately or as a group? Answer: You shall be granted a single registration in the State/UT.

 

GST FAQ E-Commerce under Sectoral Series issued by CBEC containing 25 Question and Answers

Author: | Categories: GST No comments
GST FAQ E-Commerce under Sectoral Series. CBEC has issued a FAQ containing 25 Question and Answers under GST Sectoral FAQ Series GST FAQ E-Commerce under Sectoral Series Question 1: What is Electronic Commerce? Answer: Electronic Commerce has been defined in Sec. 2(44) of the CGST Act, 2017 to mean