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1.Finance Minister Mr. Jaitley hints at tax rate might be brought down as demonetization will increase taxation base.
2.Ministry of Finance clarified that filing of revised return cannot be used as the tool for manipulating the figures of income, cash-in-hand, profits etc. with an intention to show the current year’s undisclosed income (including the unaccounted income held in the form of demonetized currency in the current year) in the earlier return.
3.GST will be applicable on all books at applicable rates exemption only to text books & art works. GST council to decide on any other exemptions.
4.RBI has notified Amendments to Master Direction (MD) on KYC two major changes being notified are to allow One Time Pin (OTP) based e-KYC Scheduled Commercial Banks (SCBs) shall upload the KYC data pertaining to all new individual accounts opened on or after January 1, 2017.
5.Online Applications are invited from CA firms/LLPs from 1 January 2017 to 15 February 2017 for CAG empanelment for auditors of Govt Co/Corp for 2017-18.
6.The Board of Trustees has decided to provide financial assistance of Rs. 1500/- p.m for IPCC course and Rs. 2000/- p.m. for final in accordance with ICAI Regulation.
2.Ministry of Finance clarified that filing of revised return cannot be used as the tool for manipulating the figures of income, cash-in-hand, profits etc. with an intention to show the current year’s undisclosed income (including the unaccounted income held in the form of demonetized currency in the current year) in the earlier return.
3.GST will be applicable on all books at applicable rates exemption only to text books & art works. GST council to decide on any other exemptions.
4.RBI has notified Amendments to Master Direction (MD) on KYC two major changes being notified are to allow One Time Pin (OTP) based e-KYC Scheduled Commercial Banks (SCBs) shall upload the KYC data pertaining to all new individual accounts opened on or after January 1, 2017.
5.Online Applications are invited from CA firms/LLPs from 1 January 2017 to 15 February 2017 for CAG empanelment for auditors of Govt Co/Corp for 2017-18.
6.The Board of Trustees has decided to provide financial assistance of Rs. 1500/- p.m for IPCC course and Rs. 2000/- p.m. for final in accordance with ICAI Regulation.