• Section 54F exemption under Income Tax Act not allowed for unutilised amount not deposited in specified bank account. The Honble Bombay High Court.
  • Government releases revised Draft Model GST Law, Draft IGST Law and Draft GST Compensation law; Revenue Secretary says these draft laws shall be considered in the GST Council meeting on Dec 2 & 3, 2016.
  • In GST Enrolment, fill details of Resident Directors. Give Foreign Directors details when www.gst.gov.in makes changes to fill foreign address.
  • As per latest circular no. 14(87)/2016 dt 25/11/16 issued by Ministry of Labour & Employment all big employment shall make payments of wages to contract or permanent employees through bank account only. Cash payments is not allowed. This rule is applicable with immediate effect without any monetary limit.
  • Banks are required to maintain an increment CRR of 100% on net increase in NDTL between september 26, 2016 to nov 11, 2016 from the forthnight begining with nov 26, 2016. Same shall be reviewed on Dec 9 ,2016.
  • No more- over the counter exchange of SBNs (Rs 500 & Rs 1000 notes) w.e.f. midnight of 24.11.2016. RBI/2016-17/155 dated 24.11.2016.
  • ONLINE APPLICATION FOR CONCURRENT AUDIT ASSIGNMENT IN CENTRAL BANK OF INDIA FOR THE YEAR 2017(Jan-Dec) ARE BEING INVITED, AS PER CATEGORY OF THE CA FIRM.