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1. Summary of action points at Government ‘Ease of Doing Business’ meeting held on 19/12/2016:
2. PAN mandatory if credit in your account after 9/11/2016 is more than Rs 2,00,000 including cheque credit/online transfer /cash deposit or credit by any other means and your account balance is more than Rs 5,00,000 then no debit transaction shall be allowed without PAN.
3. ESIC: Employees & Employers Contribution rate reduced to 1% & 3%.
4. ICT Division has taken up the matter for necessary modification in the application to accommodate the calculation of the contribution at the reduced rates in the first time implemented areas.
5. ICAI has asked the government to put in place a more transparent process in selecting auditors in banks, saying its demand is particularly relevant in the context of high probability of frauds in the lending institutions in the aftermath of demonetisation.
- Ebiz portal shall be mandated for starting a business (Company Incorporation / PAN & TAN and EPFO & ESIC).
- Ministries to work towards reducing number of days to start business to 4.
- Shram Suvidha Portal shall be the only portal for filing the return, challan and making online payment for EPFO & ESIC
- Initiative of eCourts should be expedited for electronic filing of complaints, summons and payments especially in the Commercial Courts.
- The government’s email address for black money tip offs has been flooded with more than 5,000 messages at blackmoneyinfo@incometax.gov.in.
2. PAN mandatory if credit in your account after 9/11/2016 is more than Rs 2,00,000 including cheque credit/online transfer /cash deposit or credit by any other means and your account balance is more than Rs 5,00,000 then no debit transaction shall be allowed without PAN.
3. ESIC: Employees & Employers Contribution rate reduced to 1% & 3%.
4. ICT Division has taken up the matter for necessary modification in the application to accommodate the calculation of the contribution at the reduced rates in the first time implemented areas.
5. ICAI has asked the government to put in place a more transparent process in selecting auditors in banks, saying its demand is particularly relevant in the context of high probability of frauds in the lending institutions in the aftermath of demonetisation.