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Old 03-15-2017, 11:11 AM
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Shilparana Shilparana is offline
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Join Date: Sep 2014
Posts: 978
Default Latest India Tax News 15 March 2017

1. Tomorrow 15.03.2017 (Wednesday) is the last date for payment of 100% Advance Income Tax by all assessees including 44AD cases.
2. Operation Clean Money; Income Tax Department identifies 17.92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period.
3. CBDT reported the direct tax collections up to February 2017 to witness steady growth trend. The collection net of refunds stands at Rs. 6.17 lakh crore which is 10.7% more.
4. CBEC vide Circular No. 1053/02/2017-CX dated March 10, 2017 has issued the Master Circular providing the clarity and uniformity on the issues dealing with Show Cause Notice, Adjudication Proceedings and Recovery of duty
5. RBI issued notification on 9.3.2017 that Section 269SS and 269T of the Income Tax Act, 1961 would be applicable to all NBFCs with immediate effect. Currently, the relevant threshold is Rs 20,000.
6. ICAI ARF invites proposals from eligible Chartered Accountant Firms for handling its project of Indian Railways for conversion of its books of accounts from hybrid to accrual accounting. Please fill the form at latest by 20th March, 2017.
7. Canada Chapter of ICAI launched a helpline platform for ICAI members to offer their guidance to members who are interested in pursuing CPA. www
8. ICAI has invited Empanelment of Members to act as Observers at the Examination Centres for The Chartered Accountants Examinations May/ June 2017.


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