Tax Updates:
Date June 1, 2017
- CBDT extends last date to Furnish SFT-Statement of Financial Transactions for the A.Y. 2017-18 from 31.05.2017 to 30.06.2017. CBDT Order dated 31.05.2017.
- Aadhaar linking with PAN made simple. Just go to www.incometaxindiaefiling.gov.
in and click Link Aadhaar and follow instructions. No need to login or register. - Under GST Sale of personal car by individual is NOT Supply as it is not in course or furtherance of business & no ITC was claimed on purchase.
- Credit of GST paid on inward supplies of goods and services can be claimed only within 1 year from date of relevant tax invoice.
- Due date for issuance of TDS certificates -Form 16 - on or before 31st may Form 16A - on or before the 15th June Form 16B - within 15 days of furnishing of challan in Form no. 26QB.
- Compensation would be recoverable from accused even if imprisonment for default has taken place for an offence committed under section 138 of Negotiable Instrument Act. SC [2017] 81 taxmann.com 313 (SC)