1. CBDT notified the ITR forms for assessment year 2017-18. Column Part-E of the ITR-1 form seeks information on cash deposits made by the assessee between November 9, 2016 and December 30, 2016 if the "aggregate cash deposits" during this period were Rs 2 lakhs or more.
2. New ITR forms released by I. Tax Deptt., effective from 01.04.2017. The Income-tax (Fourth Amendment) Rules, 2017 dated 30.03.2017.
3. Form No. ITR-1 SAHAJ: For Individuals having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakhs (1 Page Return).
4. Form No. ITR-2: For Individuals and HUFs not carrying out business or profession under any proprietorship.
5. Form No. ITR-3: For individuals and HUFs having income from a proprietary business or profession.
6. Form No. ITR-4: Sugam: For Presumptive Income from Business & Profession.
7. Form No. ITR-5: For persons other than (i) individual (ii) HUF (iii) company and (iv) person filing Form ITR-
8. Form No. ITR-6: For Companies other than companies claiming exemption under section 11].
9. Form No. ITR-7: For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F).
10. Section 269ST from 1-4-2017 provide that no person shall receive an cash amount of two lakh rupees or more:
A. In aggregate from a person in a day; or
B. In respect of a single transaction; or
C. In respect of transactions relating to one event or occasion from a person.
Otherwise penalty, a sum equal to the amount of such receipt.
11. Under Final GST Bill, Supplies of specified Goods & Services from Unregistered person to Registered person to be taxable under Reverse Charge.
12. Centre issues 8 GST Rules viz. Composition Rules, Valuation Rules, Transition Rules, ITC Rules, Revised Invoice Rules, Revised Payment Rules, Revised Refund Rules and Revised Registration Rules. Visit www.cbec.gov.in to download.
2. New ITR forms released by I. Tax Deptt., effective from 01.04.2017. The Income-tax (Fourth Amendment) Rules, 2017 dated 30.03.2017.
3. Form No. ITR-1 SAHAJ: For Individuals having Income from Salaries, one house property, other sources (Interest etc.) and having total income upto Rs.50 lakhs (1 Page Return).
4. Form No. ITR-2: For Individuals and HUFs not carrying out business or profession under any proprietorship.
5. Form No. ITR-3: For individuals and HUFs having income from a proprietary business or profession.
6. Form No. ITR-4: Sugam: For Presumptive Income from Business & Profession.
7. Form No. ITR-5: For persons other than (i) individual (ii) HUF (iii) company and (iv) person filing Form ITR-
8. Form No. ITR-6: For Companies other than companies claiming exemption under section 11].
9. Form No. ITR-7: For persons including companies required to furnish return under sections 139(4A) or 139(4B) or 139(4C) or 139(4D) or 139(4E) or 139(4F).
10. Section 269ST from 1-4-2017 provide that no person shall receive an cash amount of two lakh rupees or more:
A. In aggregate from a person in a day; or
B. In respect of a single transaction; or
C. In respect of transactions relating to one event or occasion from a person.
Otherwise penalty, a sum equal to the amount of such receipt.
11. Under Final GST Bill, Supplies of specified Goods & Services from Unregistered person to Registered person to be taxable under Reverse Charge.
12. Centre issues 8 GST Rules viz. Composition Rules, Valuation Rules, Transition Rules, ITC Rules, Revised Invoice Rules, Revised Payment Rules, Revised Refund Rules and Revised Registration Rules. Visit www.cbec.gov.in to download.