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Latest India Tax News 12th October 2016

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  • Latest India Tax News 12th October 2016

    • CBDT has instructed the income tax department to expedite cases of TDS mismatch and reduce taxpayers grievances in this regard.
    • Senior citizens do not have to pay advance tax on salary and interest income.
    • Delhi high court seeks Delhi Govt and centre to reply on restaurants charging excess VAT, service tax as they are charging entire amount of the bill.
    • The Commerce Ministry has suggested to its finance counterpart that the exemptions given to exporters should continue under the new GST Law.
    • Delhi high court held that a Chartered Accountant while doing concurrent audit is expected to check the transactions falling within the scope of audit in depth. He is liable to face the charge of professional misconduct under clause 7 of the first schedule of the CA Act, 1949.
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