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Old 03-24-2017, 10:39 AM
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Shilparana Shilparana is offline
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Join Date: Sep 2014
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Default Latest India Tax News 24 March 2017

1. CBDT to honour honest taxpayers "Honest and Compliant" taxpayers from across the country who have paid their Income Tax dues diligently over the years.
2. The Finance Bill, 2017 passed with Changes:

1. Threshold limit prohibiting cash payments reduced from rupees three lakhs to two lakhs with equivalent penalty.
2. TCS on cash transactions scrapped from 1% on sale of jewellery above Rs five lakh.
3. Mandatory quoting of Aadhaar No for IT Return and PAN Application W.e.f. 01/07/17.
4. Cap on political donations removed from Co. Under Companies Act, 2013 from up to 7.5% of their average profits.

3. GST set to be rolled out from July 1, states have not made many changes in the indirect tax structure in their Budgets for 2017-18, assuming that adequate compensation would be provided to them for any shortfall in revenue receipts on this count.
4. SEBI is evaluating the category of benchmarks being currently used to compare the returns of mutual fund (MF) schemes.
5. Govt considering allowing 100% Foreign Direct Investment (FDI) in insurance broking with a view to giving a boost to the sector at present, allows 49%.
6. ICAI is organizing Master in Business Finance Certificate Course (MBFCC). For Registration visit -http://resource.cdn.icai.org/44930cma34840.pdf. Or call at- 0120-3045905.
7. Bank of Maharashtra invites Online Application from CA's For Empanelment of concurrent Auditor 2017-18 from 20.03.2017 to 24.03.2017.

 


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