{"id":3159,"date":"2017-05-15T11:32:07","date_gmt":"2017-05-15T06:02:07","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3159"},"modified":"2021-08-13T11:10:16","modified_gmt":"2021-08-13T05:40:16","slug":"corporate-and-professional-update-may-15-2017","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-may-15-2017\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE May 15, 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-69d8193660be9\" 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-69d8193660be9\"  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-15-2017\/#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-15-2017\/#_Indirect_Tax\" title=\"\u00a0Indirect Tax:\">\u00a0Indirect 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-15-2017\/#Key_dates\" title=\"Key dates:\">Key dates:<\/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-15-2017\/#Other_Updates\" title=\"Other Updates:\">Other Updates:<\/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\/2015\/12\/22-300x173.png\" alt=\"22\" width=\"674\" height=\"412\" \/><\/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 Request stakeholders to comments on Draft <a href=\"https:\/\/carajput.com\/blog\/taxes-on-income-received-from-blogging-under-income-tax\/\">Income<\/a> Computation and Disclosure Standards (ICDS) on Real Estate Transactions to be applicable from assessment year 2017-18.<\/li>\n<li>Delhi High Court refused to stay the income tax proceedings against Young Indian Ltd in the case of alleged misappropriation of assets of National Herald newspaper involving Congress leaders Sonia Gandhi and Rahul Gandhi.<\/li>\n<li>Government of India mandates Aadhar Card for Atal Pension Yojana (APY).<\/li>\n<li>The CA firms should be on<a href=\"https:\/\/carajput.com\/blog\/tag\/rbi-update\/\"> RBI<\/a> panel and be a partnership concern. CBDT has issued draft rules for stakeholder comment providing the manner of valuation of an unquoted equity share for the purposes of section 56(2)(x) and section 50CA of the Income-tax Act, 1961.<\/li>\n<li>The CA firms should be on RBI panel and be a partnership concern. CBDT has issued draft rules for stakeholder comment providing the manner of valuation of an unquoted equity share for the purposes of section 56(2)(x) and section 50CA of the Income-tax Act, 1961.<\/li>\n<li>Interest on FDs earned during the pre-operative period is taxable as \u2018Income from Other Sources\u2019 under the provisions of Income Tax Act. ITAT Hyderabad: DRS Warehousing (South) v. ITO.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"_Indirect_Tax\"><\/span><strong>\u00a0<\/strong><strong><span style=\"text-decoration: underline;\">Indirect Tax:<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Registration for GST enrolment to reopen on June 1 for 15 days as 6.05 million entities have enrolled them with the GSTN system.<\/li>\n<li>IGST to be deposited again if CGST &amp; SGST\/ UTGST paid by mistake instead of IGST but no interest to be paid. Use excess payment for relevant GST.<\/li>\n<\/ul>\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=\"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 PF for April : 15.05.2017<\/li>\n<li>Deposit of DVAT TDS for April : 15.05.2017<\/li>\n<li>TCS returns by all collectors : 15.05.2017<\/li>\n<li>Return of DVAT TDS for quarter ending march : 15.05.2017<\/li>\n<\/ul>\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>RBI has introduced additional settlements in the NEFT system at half-hour intervals to enhance the efficiency of the system and add to customer convenience.<\/li>\n<li>Vijaya Bank invites online application for empanellement of concurrent auditors from the CA firms which are on RBI panel. Last date 20.05.2017.<\/li>\n<li>SAT impose penalty on Rajasthan Royals (IPL TEAM) for violation of section 3 of FEMA, 1999 as payments had been made by non-residents and there was no general or special approval of Reserve Bank of India.<\/li>\n<li>NOC from Advocate to appoint new advocate not required as litigant has the absolute right to appoint an advocate of his choice and to terminate his services any time and for whatever reason. Karnataka Power Transmission Corp Ltd vs. M. Rajashekar (Karnataka High Court)<\/li>\n<\/ul>\n<p><strong><span style=\"text-decoration: underline;\">Quote of the Day:<\/span><\/strong><\/p>\n<p>\u201cAlways be yourself, express yourself, have faith in yourself, do not go out and look for a successful personality and duplicate it.\u201d<\/p>\n<p>We look forward for your valuable comment www.carajput.com<\/p>\n<p>FOR FURTHER QUERIES CONTACT US:<\/p>\n<p>W:\u00a0www.carajput.com\u00a0\u00a0 \u00a0E: singh@carajput.com \u00a0 T: 011-233-4-3333, 9-555-555-480<\/p>\n<p>Disclaimer:<\/p>\n<p>All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his\/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.<\/p>\n<p>The visitors may visit the web site of\u00a0Government site Like\u00a0Income Tax Department, Services Tax, Excise, Etc for resolving their doubts or for clarifications.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Professional Update for the day: Direct Tax: CBDT Request stakeholders to comments on Draft Income Computation and Disclosure Standards (ICDS) on Real Estate Transactions to be applicable from assessment year 2017-18. Delhi High Court refused to stay the income tax proceedings against Young Indian Ltd in the case of alleged misappropriation of assets of National &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[150,172,9,4],"tags":[1957,355,4844,5152,5151],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3159"}],"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=3159"}],"version-history":[{"count":4,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3159\/revisions"}],"predecessor-version":[{"id":15595,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3159\/revisions\/15595"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}