{"id":3542,"date":"2018-01-02T11:34:06","date_gmt":"2018-01-02T06:04:06","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=3542"},"modified":"2021-12-07T16:52:12","modified_gmt":"2021-12-07T11:22:12","slug":"corporate-and-professional-update-3","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-update-3\/","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-69ea8df7d4a80\" 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-69ea8df7d4a80\"  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-3\/#CORPORATE_AND_PROFESSIONAL_UPDATE\" title=\"CORPORATE AND PROFESSIONAL UPDATE\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0\">CORPORATE AND PROFESSIONAL UPDATE\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-3\/#_Direct_Tax\" title=\"\u00a0Direct Tax:\">\u00a0Direct Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-3\/#Indirect_Tax\" title=\"Indirect Tax:\">Indirect Tax:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-3\/#FAQ_on_GST\" title=\"FAQ on GST:\">FAQ on GST:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/carajput.com\/blog\/corporate-and-professional-update-3\/#RBI_Update\" title=\"RBI Update:\">RBI Update:<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<img decoding=\"async\" src=\"https:\/\/www.agdenetim.com\/mp-include\/uploads\/2015\/03\/1425307532_banner2.jpg\" alt=\"Image result for corporate and professional update\" \/>\u00a0 \u00a0 \u00a0 \u00a0 <\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"CORPORATE_AND_PROFESSIONAL_UPDATE\"><\/span><strong>CORPORATE AND PROFESSIONAL UPDATE\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"_Direct_Tax\"><\/span><span style=\"color: #000000;\"><a style=\"color: #000000;\" href=\"https:\/\/www.caindelhiindia.com\/blog\/popular-faq-on-direct-indirect-tax-corporate-regulatory-matters\/\"><strong>\u00a0<\/strong><strong>Direct Tax:<\/strong><\/a><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>ITAT Jaipur held that deduction u\/s. 54 can be claimed for house purchase in wife\u2019s name.\u00a0Shri Radhey Shyam Arora Vs. Income Tax Officer (ITAT Jaipur)<\/strong><\/p>\n<p><strong>\u00a0<\/strong><strong>ITAT Kolkata held that section 194C TDS not applicable on transport charges reimbursed to suppliers.\u00a0Assistant Commissioner of Income Tax Vs Sri Gobinda Gupta (ITAT Kolkata)<\/strong><\/p>\n<p><strong>\u00a0<\/strong><strong>ITAT Kolkata held that Reimbursement of expense incurred during foreign visit to Director by Company is not taxable as Perquisite. Gaurav Seksaria Vs. ITO (ITAT Kolkata)<\/strong><\/p>\n<p><strong>ITAT Kolkata held that additional depreciation allowable to company in generation and distribution of electricity even prior to 1-4-2013.\u00a0 Damodar Valley Corporation Vs. Dy. CIT (ITAT Kolkata)<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><strong>Indirect Tax:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>CBEC make amendments in <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">Central Goods and Services Tax Rules, 2017<\/a>. These rules may be called the Central Goods and Services Tax (Fourteenth Amendment) Rules, 2017 which shall come into force on the date of their publication in the Official Gazette.\u00a0Vide notification no 75\/2017, dated 29th December 2017<\/strong><\/p>\n<p><strong>CBEC waives the amount of late fee payable under section 47 of the said Act, by any registered person for failure to furnish the return in FORM GSTR-4 by the due date, which is in excess of an amount of twenty five rupees for every day during which such failure continues.\u00a0Vide notification no 73\/2017, dated 29th December 2017.<\/strong><\/p>\n<p><strong>CBEC extend the time limit\u00a0 for furnishing the details of outward supplies in FORM <a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR-1\u00a0<\/a> by such class of registered persons having aggregate turnover of more than 1.5 crore rupees in the preceding financial year or the current financial year. Vide notification no 72\/2017, dated 29th December 2017.<\/strong><\/p>\n<p><strong>CBEC extend the time limit for\u00a0 or furnishing the details of outward supply\u00a0 in FORM GSTR-1 by\u00a0 such class of registered persons having aggregate turnover\u00a0 upto 1.5 crore rupees in the preceding financial year or the current financial year. Vide notification no 71\/2017, dated 29th December 2017.\u00a0<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"FAQ_on_GST\"><\/span><strong>FAQ on <a href=\"https:\/\/carajput.com\/gst\/gst-consultancy.php\">GST<\/a>:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Query: What happens in cases where the tax demand confirmed is enhanced in appeal \/ revision proceedings?<\/strong><\/p>\n<p><strong>Answer:\u00a0 The notice of demand is required to be served only in respect of the enhanced dues. In so far as the amount already confirmed prior to disposal of appeal\/revision, the recovery proceedings may be continued from the stage at which such proceedings stood immediately before such disposal.<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"RBI_Update\"><\/span><strong><a href=\"https:\/\/carajput.com\/rbi-consulting.php\">RBI<\/a> Update:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>The\u00a0 applicable average base rate to be charged by Non-Banking Financial Company \u2013 Micro Finance Institutions (NBFC-MFIs) to their borrowers for the quarter beginning January 01, 2018 will be 8.96 per cent. Vide press release 2017-2018\/1767, dated 29th December 2017.\u00a0<\/strong><\/p>\n<p><strong>Quotes of the day<\/strong><\/p>\n<p><strong>&#8220;Plant your garden and decorate your own soul, instead of waiting for someone to bring you flowers.&#8221;<\/strong><\/p>\n<p><strong>\u00a0<\/strong><strong>We look forward for your valuable comment www.carajput.com<\/strong><\/p>\n<p><strong>FOR FURTHER QUERIES CONTACT US:<\/strong><\/p>\n<p><strong>W: <a href=\"https:\/\/carajput.com\/\">www.carajput.com\u00a0<\/a>\u00a0\u00a0<\/strong><\/p>\n<p><strong> E:<a href=\"https:\/\/carajput.com\/\"> singh@carajput.com\u00a0<\/a><\/strong><\/p>\n<p><strong>T: 011-233-4-3333, 9-555-555-480<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0 \u00a0 \u00a0 CORPORATE AND PROFESSIONAL UPDATE\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0\u00a0 \u00a0Direct Tax: ITAT Jaipur held that deduction u\/s. 54 can be claimed for house purchase in wife\u2019s name.\u00a0Shri Radhey Shyam Arora &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,150,172,9,4],"tags":[368,574,442,571,500,443,572,575,444,573],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3542"}],"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=3542"}],"version-history":[{"count":4,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3542\/revisions"}],"predecessor-version":[{"id":19567,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/3542\/revisions\/19567"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=3542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=3542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=3542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}