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Latest India Tax News 1 March 2017

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  • Latest India Tax News 1 March 2017

    1. TDS needs to be deducted u/s 194-I on lease rental payments made to GNOIDA constituted under section 3 of the Uttar Pradesh Industrial Development Act. Rajesh Projects (India) Pvt. Ltd. vs. CIT (TDS), High Court of Delhi.
    2. RBI issued Master Direction on Money Transfer Service Scheme (MTSS) vide notification No RBI/FED/2016-17/52FED Master Direction No.1/2016-17 February 22, 2017.
    3. Under GST For B 2 C Supplies, Invoice wise details in GSTR-1 for interstate sales of more than Rs. 2.50 lacs & State wise total for sales up to Rs. 2.50 lacs.
    4. The Auditing and Assurance Standards Board of the ICAI has issued the Guidance Note on Audit of Banks 2017 edition. You can download it from website of ICAI.
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