{"id":3027,"date":"2017-01-06T11:50:45","date_gmt":"2017-01-06T06:20:45","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3027"},"modified":"2021-08-13T13:08:25","modified_gmt":"2021-08-13T07:38:25","slug":"corporate-and-professional-update-jan-06-2017","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-jan-06-2017\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Page Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69d23ec583ee1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69d23ec583ee1\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-jan-06-2017\/#Direct_Tax\" title=\"Direct Tax:-\">Direct Tax:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-jan-06-2017\/#GST_Update\" title=\"GST Update:-\">GST Update:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-jan-06-2017\/#Other_Update\" title=\"Other Update:-\">Other Update:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-jan-06-2017\/#Key_Dates\" title=\"Key Dates:-\">Key Dates:-<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>Professional Update for the Day:<\/strong><\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/01\/Company-name-approval-in-india-venture-care-750x422-2.jpg\" rel=\"attachment wp-att-3033\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3033\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/01\/Company-name-approval-in-india-venture-care-750x422-2-300x169.jpg\" alt=\"Company-name-approval-in-india-venture-care-750x422\" width=\"493\" height=\"278\" srcset=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/01\/Company-name-approval-in-india-venture-care-750x422-2-300x169.jpg 300w, https:\/\/carajput.com\/blog\/wp-content\/uploads\/2017\/01\/Company-name-approval-in-india-venture-care-750x422-2.jpg 750w\" sizes=\"(max-width: 493px) 100vw, 493px\" \/><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><strong><span style=\"text-decoration: underline;\">Direct Tax:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>CBDT has issued a press circular regarding the signing of three more Advance Pricing Agreements (APAs). These agreements pertain to the Engineering goods &amp; Shipping sectors of the economy. The international transactions covered in these agreements include Intra-group services &amp; support services.<\/li>\n<li>Punjab &amp; Haryana Court in the below-cited case held that deduction under section 80IB is allowable over the period of 6 years which follows that conditions for claiming the deduction must remain fulfilled in all years for which deduction is claimed.<\/li>\n<li>Supreme Court in Gopal and Sons(<a href=\"https:\/\/carajput.com\/services\/hindu-undivided-family.php\">HUF<\/a>) vs. CIT Kolkata-XI has held that even if a HUF itself is not a registered shareholder, the provisions of deemed dividend are attracted once the payment is received by the HUF, and the shareholder is a member of the said HUF and has a substantial interest in it.<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Indirect Tax:-<\/span><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"GST_Update\"><\/span><strong><span style=\"text-decoration: underline;\"><a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a> Update:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>GST Consultancy: New System generated report is a Return of FORM GSTR-3B which will be self-generated for every GST Registered person based on the below:<\/li>\n<li>Liabilities in tables-3.1 &amp; 3.2 of GSTR-3B, except pertaining to inward supplies liable to reverse charge, are computed on the basis of details of outward supplies as filed by you in FORM GSTR-1 for the period.<\/li>\n<li>ITC details and details of inward supplies liable to reverse charge, to be reported in Tables-4 and 3.1 (d) respectively, are computed as per your system generated FORM GSTR-2B for the period.<\/li>\n<li>Values are auto-populated in GSTR-3B for the assistance of taxpayers. Finally, the auto-populated values can be edited by the taxpayers, if required. The system will prompt the taxpayers with an alert in cases where the variance of the edited values from the auto-populated values is higher than a respective Limit. However, the taxpayers may continue filing their returns with the edited values, and auto-populated system will not restrict the same.<\/li>\n<li>If any invoice and credit note have been issued in same month, then both have to be reported separately.<\/li>\n<li>In case net ITC available in table 4C is in negative, then such negative value shall be considered as a liability.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Other_Update\"><\/span><strong><span style=\"text-decoration: underline;\">Other Update:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Finance Minister expressed confidence that direct and indirect tax mop-up will surpass the budget estimate of Rs.16.3 lakh crore by March-end.<\/li>\n<li><a href=\"https:\/\/carajput.com\/sebi-consulting.php\">SEBI<\/a> issued Guidelines for participation\/functioning of Eligible Foreign Investors (EFIs) and FPIs in International Financial Services Centre (IFSC).<\/li>\n<li>ICAI \u00a0issued exposure draft standard on auditing (SA) 720 (Revised) The auditor&#8217;s responsibilities relating to other information.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><strong><span style=\"text-decoration: underline;\">Key Dates:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>The last date to revision pending Unique Document Identification Number at <a href=\"https:\/\/www.incometaxindiaefiling.gov.in\/\">incometaxindiaefiling.gov.in<\/a> &lt;<a href=\"https:\/\/www.incometaxindiaefiling.gov.in\/\">https:\/\/www.incometaxindiaefiling.gov.in\/<\/a>&gt; to avoid the invalidation of audit report &amp; certificates is 31.12.20.<\/li>\n<li>The last date to deposit Advance Tax under Income Tax Act. is 12.12.2020.<\/li>\n<li>The due date to file ITR for individuals under non-audit cases for Assessment Year 2020-21 Is 31.12.2020.<\/li>\n<\/ul>\n<p>Our financial consulting think tank exudes acclaimed expertise and knowledge that has served with foreign clients providing successful financial advice. RJA\u2019s financial advisors give you lots of well-informed and detailed guidance on all financial matters of your business. They continue to work closely with all the stakeholders in your company, along with your lawyers, to resolve key financial problems.<\/p>\n<p>We offer financial advice in the following categories:<\/p>\n<ul>\n<li>Company And Business Setup<\/li>\n<li>Private Placement Consulting<\/li>\n<li>Accounting Outsourcing<\/li>\n<li>Taxation Advisory<\/li>\n<li>Mergers &amp; Acquisitions Consulting<\/li>\n<li>Investment &amp; Wealth Management<\/li>\n<li>Payroll Outsourcing<\/li>\n<li>Company Management<\/li>\n<\/ul>\n<p>\u201cInfuse your life with action. Don\u2019t wait for it to happen. Make it happen. Make your own future. Make your own hope.\u201d<\/p>\n<p>\u201cThere is nothing called &#8220;Darkness&#8221;, It&#8217;s just absence of light. similarly, \u00a0there is nothing called a &#8220;Problem&#8221;. It&#8217;s just the Absence of an idea to find the solution.\u201d<\/p>\n<p>We look forward to your valuable comment www.carajput.com<\/p>\n<p>FOR FURTHER QUERIES CONTACT US:<\/p>\n<p>W:\u00a0<a href=\"https:\/\/carajput.com\/\">www.carajput.com<\/a> E:<a href=\"https:\/\/carajput.com\/\"> singh@carajput.com<\/a><\/p>\n<p>T: 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professional Update for the Day: Direct Tax:- CBDT has issued a press circular regarding the signing of three more Advance Pricing Agreements (APAs). These agreements pertain to the Engineering goods &amp; Shipping sectors of the economy. The international transactions covered in these agreements include Intra-group services &amp; support services. Punjab &amp; Haryana Court in the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,208,172,4,1],"tags":[2181,2186,2182,2184],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3027"}],"collection":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/comments?post=3027"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3027\/revisions"}],"predecessor-version":[{"id":15639,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3027\/revisions\/15639"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3027"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3027"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3027"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}