Month: January 2018
DIN allotment to be only at the time of appointment as directors-MCA to modify DIN allotment process. MCA is all set to reengineer the process of allotment of DIN by allotting DIN to individuals only at the time of their appointment as Directors (If they do NOT possess a DIN) …
CBEC Compilation of 51 GST Flyers updated as on 1st January, 2018, Central Board of excise and Custome has released a compilation of 51 GST flyers. These Flyers which are on important topics of GST are being brought out by the National Academy of Customs, Indirect Taxes, &Narcotics (NACIN), …
Company under corporate insolvency resolution process given relied under MAT – Total loss brought forward shall be allowed to be reduced from book profit Government has granted relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for …
Amid the criticism of the Electoral Bonds on the transparency front, the Finance Minister, Arun Jaitely has defended the decision to bring the electoral bonds for funding of the political parties. In his following article titled as “Why Electoral Bonds are Necessary?” the Finance Minister has took a …
EPF Contribution above statutory maximum wage ceiling limits. Employers not to be forced to contribute over and above statutory wage ceiling. EPF contributions are payable on prescribed maximum wage ceiling of Rs 6500/- by employee and employer. The employee can pay at a higher rate and in such …
ICAI Exposure Draft of Amendments to Ind AS 20-Accounting for Government Grants and Disclosure of Government Assistance. Last date for Comments is January 24, 2018. Amendments have been proposed in Ind AS 20 to allow the options to present non-monetary government grants at nominal value and government grants related to …
Incentives on digital purchase of Railway tickets through IRCTC website, on counters by credit/debit cards, through mobile phones etc. Discounts and waiver of service charge Train tickets can be booked at the ticket counters through cash or through credit/debit cards, Unified Payments Interface (UPI)/ Bharat Interface for Money …
ROCs has removed/struck off names of 226166 companies which were not filing returns for a continuous period of two or more financial years and prima facie were not conducting any business or in operation The Government has initiated campaign against black money, wilful defaulters and erring directors. There …
RBI issues Master Direction on Foreign investment in India Foreign Investment in India is regulated in terms of clause (b) sub-section 3 of section 6 and section 47 of the Foreign Exchange Management Act, 1999 (FEMA) read with Foreign Exchange Management (Transfer or Issue of a Security by …
Deduction of Tax at Source from Salaries u/s 192 of the Income Tax Act, 1961 for FY 2017-18-CBDT Circular Under section 192 of the Income Tax Act, 1961, every person responsible for paying any income chargeable under the head “Salaries” is liable to deduct income-tax on the estimated …
