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Daily Tax Updates || CBDT has made it easy...|| Income Tax notified that under section 139AA of IT Act...

Tax Updates:
Dated May 16,2017

  1. CBDT has made it easy for taxpayers to link their PAN with Aadhaar. Taxpayers can go to www.incometaxindiaefiling.gov.in and click on the link on the left pane-> Link Aadhaar, provide PAN, Aadhaar no. and enter name exactly as given in Aadhaar card and submit. 
  2. Income Tax notified that under section 139AA of IT Act - Central Government notifies the provisions shall not apply to an individual who does not possess the Aadhaar number or the Enrolment ID. 
  3.  Credit of GST paid on inward supplies of goods and services can be claimed only within 1 year from date of relevant tax invoice.
  4. In the goods and services tax (GST) era, movement of goods worth more than Rs50,000 within or outside a state will require securing an e-way bill by prior online registration of the consignment.
  5. GST panel works out rates for 6,000 items. Ahead of the Goods and Services Tax (GST) Council meeting in Srinagar from Thursday, the Centre and states seem arrived at the consensus of the Rates. 
  6. Extension to 30.05.2017 of Last date to file D-VAT return for Q4 of 2016-17 in Forms DVAT-16, DVAT-17 and DVAT-48.CIRCULAR NO.5 of 2017-18 dated 15.05.17.
  7. MCA has notified the amended rules which may be called as the Companies (Acceptance of Deposits) (Amendment) Rules, 2017 which shall come into force on the date of their publications in the Official Gazette.


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