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Latest India Tax News 7 April 2017

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  • Latest India Tax News 7 April 2017

    1. CBDT has decided that the restriction on cash transaction u/s 269ST shall not apply to withdrawal of cash from a bank, co-operative bank or a post office savings bank.
    2. Lease deed, power bill etc may be needed for claiming HRA rebate as producing fake property rent receipt, often from parents and relatives, has been an easy way to lower tax burden.
    3. Tax collections at Rs 17.1 lakh crore for 2016-17 exceeded the Revised Estimates (RE) of ~16.97 lakh crore by 0.8 per cent, official figures showed.
    4. Under GST SEZ Unit or Developer to take separate registration even if another unit of entity outside SEZ already has separate registration in same state.
    5. Last date for filing of ST-3 and ST3C return for the period October -2016 to March-2017 is 25th April, 2017.
    6. RBI to disseminate Interest Rate Data on Monthly Basis from April 2017 with a view to improving the frequency and timeliness of release of interest rate data.
    7. Shri B.P. Kanungo took over as the Deputy Governor of the RBI for a period of three years.
    8. Supreme Court has ruled that the circulars issued by the Securities and Exchange Board of India (SEBI) cannot be challenged before the Securities and Appellate Tribunal (SAT).
    9. From 1st july onwords Aadhar No. is compulsory document for pan card and income tax return filling.