Time limit to report Aadhaar and PAN to banks etc extended/postponed indefinitely. Earlier the deadline for existing was 31st December 2017 or six months for existing clients.  MINISTRY OF FINANCE (Department of Revenue) Notification No. 9/2017 New Delhi, the 12th December, 2017 G.S.R. 1506(E).—In exercise of the powers …

Change of Date of Birth of EPF Members-Aadhaar not valid if correction required is more than one year for which, other valid documents also required Employees’ Provident Fund Organisation Ministry of Labour & Employment, Government of India Bhavishya  Nidhi Bhavvan 14 Bhikaij Cama Place. New Delhi 110066 www.epfindia.gov.in …

Rejection of account books for not producing vouchers quashed. The High Court held that mere absence thereof did not give rise to presumption that there was any non-disclosure when no evidence existed to doubt the correctness or completeness of the books of account. ABCAUS Case Law Citation: ABCAUS 2145 …

Tax demands raised by Income Tax on Software Industry for export of IT/IT enabled services provided to clients abroad. Govt says apprehensions without basis Press Information Bureau  Government of India Ministry of Finance 12-December-2017 15:41 IST Apprehensions about the negative effects of certain tax demands on the Software …

Extraordinary high transitional credit claim of CGST under scanner. Taxpayers advised to revise Form TRAN-1 by 27-12-2017 for wrongly claimed ITC. Press Information Bureau  Government of India Ministry of Finance 12-December-2017 15:41 IST Filing of Form TRAN-I to avail Input Tax Credit  Transition to GST provided for trust …

Deemed dividend provisions not attracted in absence of actual payment. Payment u/s 2(22)(e) has to be physical-actual and not mere book entry-High Court ABCAUS Case Law Citation: ABCAUS 2144 (2017) (12) HC The Challenge/Grievance: The instant appeal was filed by the Income Tax Department (the Revenue/Department) This under …