{"id":3141,"date":"2017-05-06T12:30:49","date_gmt":"2017-05-06T07:00:49","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3141"},"modified":"2021-08-13T11:25:17","modified_gmt":"2021-08-13T05:55:17","slug":"corporate-and-professional-update-may-6-2017","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-may-6-2017\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE May 6, 2017"},"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-69d01f30a2c1b\" 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-69d01f30a2c1b\"  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-may-6-2017\/#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-may-6-2017\/#Indirect_Tax\" title=\"Indirect Tax:\">Indirect Tax:<\/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-may-6-2017\/#_FAQ_on_GST\" title=\"\u00a0FAQ on GST\">\u00a0FAQ on GST<\/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-may-6-2017\/#Other_Updates\" title=\"Other Updates\">Other Updates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-may-6-2017\/#Key_dates\" title=\"Key dates:\">Key dates:<\/a><\/li><\/ul><\/nav><\/div>\n<p><strong>Professional Update for the day:<\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/carajput.com\/blog\/wp-content\/uploads\/2016\/02\/network-img.jpg\" alt=\"network-img\" width=\"329\" height=\"199\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><strong><span style=\"text-decoration: underline;\">Direct Tax<\/span><\/strong><strong>:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>CBDT issued notification regarding issue of <a href=\"https:\/\/carajput.com\/income-tax-services.php\">Income tax<\/a> (9th Amendment) Rules, 2017. These are the amendments in Income tax Rules, 1962 \u2013 prescribing form &amp; manner of exercise of option by the domestic company for the purposes of section 115 BA of the Income tax Act, 1961 vide notification no. 36\/2017\/F. No. 370142\/7\/2017-TPL dated 2nd may, 2017<\/li>\n<li>CBDT&#8217;s instruction dated of demand by the 29.02.2016 on stay of demand by the AO does not require the assessee to make a pre-deposit of 15% of the disputed demand. As per the Instruction, if the AO requires the assessee to pay less, or more, than 15% of the demand, the sanction of the Pr. CIT is required. If the AO demands 15% to be paid, the assessee is entitled to approach the Pr CIT for review of the AO&#8217;s decision. [Jagdish Gandabhai Shah Vs Pr CIT (Gujrat High Court)]<\/li>\n<li>CBDT proposes norms for tax benefits for genuine equity deals \u00a0specifying certain eligible transactions for tax exemption on which STT was not paid To check tax evasion through \u201csham transactions\u201d in stock market and protect genuine one.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><strong><span style=\"text-decoration: underline;\">Indirect Tax:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/carajput.com\/services-vat.php\">VAT<\/a> \u00a0filing date in haryana state extended till 15th of may, 2017.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"_FAQ_on_GST\"><\/span><strong>\u00a0<\/strong><strong><span style=\"text-decoration: underline;\">FAQ on <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a><\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><strong>\u00a0<\/strong>Whether GST will be payable on goods which are removed for purpose other than supply?<\/p>\n<p>Answer:\u00a0 Goods are said to be removed when they are given to transporter for taking those goods to recipient or when goods are collected by recipient personally or through an agent. Any other movement of goods will not be considered removal for the purpose of <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a>.<\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/gst\/\"><strong><em><u>Read more about: <\/u><\/em><em>What is core Business Activity GST<\/em><\/strong><\/a><\/p>\n<p><a href=\"https:\/\/carajput.com\/blog\/gst\/\"><strong><em><u>Read more about<\/u><u>: <\/u><\/em><em>All about GST Offenses, Penalties, and Appeals<\/em><\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Updates\"><\/span><strong><span style=\"text-decoration: underline;\">Other Updates<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Finance ministry has extended the time limit for providing <a href=\"https:\/\/carajput.com\/services\/permanent-account-number-pan.php\">Permanent Account Number (PAN)<\/a> or Form No. 60 by bank account holders who have not given it at the time of account opening or later to June 30, 2017.<\/li>\n<li>The Insolvency and Bankruptcy Board of India has constituted a Technical Committee in accordance with Regulation 14 of the IBBI (Information Utilities) Regulations, 2017.<\/li>\n<li>All Banks will remain closed, every Saturday from 1st June onwards. The RBI has approved \u00a05 days Working for Banks. Now Timings will be 9:30 am to 5:30 pm.<\/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>E- Payment of service tax for April by Cos\u00a0:\u00a005.2017<\/li>\n<li>Submission of forms received in April to IT Commissioner\u00a0:\u00a005.2017<\/li>\n<li>Payment of <a href=\"https:\/\/carajput.com\/tds.php\">TDS\/TCS<\/a> deducted\/collected in April\u00a0:\u00a005.2017<\/li>\n<li>Return of non \u2013 SSI assesses for April\u00a0:\u00a005.2017<\/li>\n<li>Return by units paying duty &gt; 1 crore (CENVAT + PLA) for April\u00a0:\u00a005.2017<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Quote of the Day:<\/span><\/strong><\/p>\n<p>\u201cDon\u2019t let people pull them into their storm, pull them into your peace.\u201d<\/p>\n<p>We look forward for your valuable comment <a href=\"https:\/\/carajput.com\/\">www.carajput.com<\/a><\/p>\n<p>FOR FURTHER QUERIES CONTACT US:<\/p>\n<p>W:\u00a0<a href=\"https:\/\/carajput.com\/\">www.carajput.com<\/a>\u00a0\u00a0 \u00a0E: <a href=\"https:\/\/carajput.com\/\">singh@carajput.com<\/a> \u00a0 T: 011-233-4-3333, 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professional Update for the day: Direct Tax: CBDT issued notification regarding issue of Income tax (9th Amendment) Rules, 2017. These are the amendments in Income tax Rules, 1962 \u2013 prescribing form &amp; manner of exercise of option by the domestic company for the purposes of section 115 BA of the Income tax Act, 1961 vide &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4],"tags":[4207,5166,5165,5167,5169,5168],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3141"}],"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=3141"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3141\/revisions"}],"predecessor-version":[{"id":15602,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3141\/revisions\/15602"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}