Categories: Companies Act / ROCDirect TaxGST (Goods and Services Tax)Income TaxIndirect Tax

corporate and professional updates 10th April 2018

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Direct Tax:

CBDT notified the Procedure for registration and submission of Statement of Reportable Account as per section 285BA of Income-tax Act, 1961 read with Rule 114G of Income-tax Rules, 1962 vide notification No. 4 of 2018 dated 5th April, 2018
CBDT notified the Procedure for registration and submission of statement of financial transactions (SFT)as per section 285BA of Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962 vide notification No. 3 of 2018 dated 5th April, 2018
CBDT notified the Procedure for registration and submission of Form No. 61 as per Rule 114D of Income-tax Rules, 1962.vide notification No. 2 of 2018 dated 5th April, 2018
CBDT notified theProcedure for submission of Form No. 60 by any person who does not have a Permanent Account Number and who enters into any transaction specified in Rule 114B of the Income-tax Rules, 1962 vide notification No. 1 of 2018 dated 5th April, 2018
The Central Board of Direct Taxes (CBDT) has clarified that the pension received by a taxpayer from his former employer is taxable under the head “Salaries”.
CBDT has entered into 14 Unilateral Advance Pricing Agreements (UAPA) and 2 Bilateral Advance Pricing Agreements (BAPA) during the month of March, 2018.

Indirect Tax Update:

Central Board of Indirect Taxes and Customs gives Clarification on issues related to furnishing of Bond/Letter of Undertaking for exports – Reg.
10.04.18 is last Day to file GSTR-1 for taxpayers with annual turnover of more than Rs. 1.50 crore for February on monthly basis.

FAQ on E-WAY BILLS:

Query:How to generate the e-way bill from different registered business places?
Answer:The registered person can generate the e-way bill from his account from any registered business place. However, he/she needs to enter the address accordingly in the e-way bill. He/she can also create multiple sub-users and assigned to these places and generate the e-way bills accordingly.

More read : all you know about documents required under the gst refund system

RBI updates

RBI increased the bond investment limit for foreign portfolio investors (FPI) by 0.5 per cent to 5.5 per cent of outstanding stock of securities in 2018-19 and 6 per cent of outstanding stock of securities in 2019-20.

SEBI updates

SEBI begins adjudication proceedings against 567 entities involved in ‘non-genuine trades’ through illiquid stock options segment in the first phase. It has decided to take action against more than 14,700 entities.

Key Dates:

GSTR 1 for the Taxpayer with annual aggregate turnover more than Rs 1.5 cr. for the month of Feb. :10/04/2018
Filing of GSTR-4 for jan-2018-march-2018: 18.04.2018

Tags: CBDT notified the Procedure for registration and submission of Statement of Reportable AccountE-WAY BILLSHow to generate the e-way billpension is taxable under the head “Salaries”.Procedure for registration and submission of Form No. 61RBI increased the bond investment limit for foreign portfolio investorsUnilateral Advance Pricing Agreements (UAPA)

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Rajput Jain & Associates

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