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Old 03-24-2017, 03:04 PM
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Shilparana Shilparana is offline
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Join Date: Sep 2014
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Default NICAI Updates 24 March 2017

1. CBDT issues clarifications on Income Computation and Disclosure Standard (ICDS) u/s 145(2) of the Income Tax Act, 1961 on 23 March, 2017.
2. CBDT notifies Third Protocol amending India-Singapore DTAA on 23 March 2017 effective from 27 February 2017.
3. Bombay High Court decision: No summons u/s 131(1) of the Income Tax Act can be issued, if no proceeding are pending. Jamnadas Madhavji And Co. And vs J.B. Panchal, Income-Tax Officer.
4. Parliament to pass CGST, IGST, UTGST & Compensation bills already approved by GST Council in Budget session. States to pass respective SGST bills.
5. RBI signed a MoU on “Supervisory Cooperation and Exchange of Supervisory Information” with Bank of Thailand.
6. SEBI issued Circular on submission of accounts for debt securities issued under the SEBI (ISSUE AND LISTING OF DEBT SECURITIES BY MUNICIPALITIES) REGULATIONS, 2015. CIR/IMD/DF-1/ 25 /2017 Dated 22nd March 2017.
7. The Employees´ Provident Fund Organisation (EPFO) has decided to reduce administrative charges to 0.65 per cent of total wages.


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