{"id":4047,"date":"2018-05-17T00:37:29","date_gmt":"2018-05-16T19:07:29","guid":{"rendered":"http:\/\/carajput.com\/blog\/?p=4047"},"modified":"2021-08-11T12:30:58","modified_gmt":"2021-08-11T07:00:58","slug":"corporate-and-professional-updates-17th-may-2018","status":"publish","type":"post","link":"https:\/\/carajput.com\/blog\/corporate-and-professional-updates-17th-may-2018\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATES 17TH MAY 2018"},"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-69d2932e6e35c\" 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-69d2932e6e35c\"  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-updates-17th-may-2018\/#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-updates-17th-may-2018\/#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-updates-17th-may-2018\/#FAQ_on_E-WAY_BILLS\" title=\"FAQ on E-WAY BILLS:\">FAQ on E-WAY BILLS:<\/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-updates-17th-may-2018\/#RBI_Update\" title=\"RBI Update:\">RBI Update:<\/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-updates-17th-may-2018\/#Key_Date\" title=\"Key Date:\">Key Date:<\/a><\/li><\/ul><\/nav><\/div>\n<p style=\"text-align: justify;\"><img decoding=\"async\" src=\"https:\/\/www.jetairways.com\/Images\/cards\/management.jpg\" alt=\"Image result for corporate and professional updates\" \/><\/p>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Direct_Tax\"><\/span><span style=\"text-decoration: underline;\"><em><strong>Direct Tax:<\/strong><\/em><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>Delhi HC sets aside ITAT order holding payment by airline company (assessee) for services under crew lease agreement with Lufthansa, Germany as non-taxable &#8216;business profit&#8217; absent PE in India, directs ITAT to examine taxability as FTS u\/s. 9(1)(vii) and Article VIIIA of India-Germany DTAA;\u00a0[TS-245-HC-2018(DEL)]<\/li>\n<li>Delhi HC sets aside ITAT order passed u\/s. 254(2) [pursuant to rectification application moved by Prannoy Roy (\u2018assessee\u2019)], rejects ITAT\u2019s view that an order directing early hearing to Department is merely an administrative order;\u00a0[TS-229-HC-2018(DEL)]<\/li>\n<li>CBDT\u00a0releases java utility of ITR- 2 for ay 2018 -19. Income Tax Return Forms AY 2018-19 (FY 2017-18).<\/li>\n<li>Launch of new SINGLE PAGE ITR Form-1(Sahaj). This initiative will benefit more than three crore tax-payers who will be eligible to file their return of income in this simplified Form.<\/li>\n<li>The number of<a href=\"https:\/\/carajput.com\/income-tax-services.php\"> Income Tax Return<\/a> Forms AY 2018-19 (FY 2017-18) has been reduced from the existing nine to seven forms.<\/li>\n<li>The existing ITR Forms ITR-2, ITR-2A and ITR-3 have been rationalized and a single ITR-2.<\/li>\n<li>ITR-4 and ITR-4S (Sugam) have been renumbered as ITR-3 and ITR-4 (Sugam) respectively.<\/li>\n<li>There is no change in the manner of filing of ITR Forms.<\/li>\n<li>Return is furnished in<a href=\"https:\/\/carajput.com\/income-tax-services.php\"> ITR<\/a>&#8211; 1 (Sahaj) or ITR-4 (Sugam), the following persons have an option to file return in paper form: (i) an individual of the age of 80 years or more at any time during the previous year; or (ii)\u00a0an individual or\u00a0HUF whose income does not exceed five lakh rupees and who has not claimed any refund in the return of income.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"INDIRECT_TAX\"><\/span><strong><em><span style=\"text-decoration: underline;\">INDIRECT TAX<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>The annual return forms for GSThttps:\/\/carajput.com\/gst\/gst-consultancy.php may ask taxpayers to explain any discrepancies between their income tax and GST returns as the government seeks to tighten rules to deter companies from evading taxes.<\/li>\n<li>The Maharashtra Government has notified that the provisions of the E-Way Bill will be applicable for intra-State movement of goods from\u00a025th May 2018.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"FAQ_on_E-WAY_BILLS\"><\/span><strong><em><span style=\"text-decoration: underline;\">FAQ on E-WAY BILLS:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\">Query:<\/span>Which types of transactions that need the e-way bill?<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li><span style=\"text-decoration: underline;\">Answer:<\/span>For transportation of goods in relation to all types of transactions such as outward supply whether within the State or interstate, inward supply whether from within the State or from interstate including an unregistered person or for reasons other than supply also, e-way bill is mandatory.<\/li>\n<\/ul>\n<p>Read our articles:<\/p>\n<ul>\n<li><a href=\"https:\/\/carajput.com\/blog\/e-invoice-mechanism-under-the-gst\/\">E-Invoice Mechanism under the GST<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/blocking-the-e-way-bill-creation-system-if-fails-to-file-gstr-3b-gstn\/\">Blocking\/Unblocking the E-Way Bill creation system if fails to file GSTR-3B: GSTN<\/a><\/li>\n<li><a href=\"https:\/\/carajput.com\/blog\/reasons-for-the-movement-of-goods-under-the-gst\/\">Reasons for the Movement of Goods under the GST<\/a><\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"RBI_Update\"><\/span><strong><em><span style=\"text-decoration: underline;\">RBI Update:<\/span><\/em><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li>The <a href=\"https:\/\/carajput.com\/rbi-consulting.php\">Reserve Bank of India<\/a> has imposed a monetary penalty of Rs. 2.00 lakh (Rupees two lakh) on The Vriddhachalam Co-operative Urban Bank Ltd. (No.E 81), 64 South Fort Street, Vriddhachalam, 606001, in exercise of the powers vested in it under the provisions of Section 47A(1)(b) read with Section 46(4) of the Banking Regulation Act, 1949 (As applicable to Co-operative Societies), for violation of the directive of the Reserve Bank prohibiting extension of loans and advances to Directors\/their relatives as provided in Para 5 of\u00a0Master circular UBD.CO.BPD.MC.No.8\/12.05.001\/ 2013-14 dated July 1st 2013.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><span class=\"ez-toc-section\" id=\"Key_Date\"><\/span><strong><em><span style=\"text-decoration: underline;\">Key Date<\/span><\/em><\/strong><span style=\"text-decoration: underline;\">:<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul style=\"text-align: justify;\">\n<li><a href=\"https:\/\/carajput.com\/gst\/gst-return.php\">GSTR Return<\/a> summary for April:\u00a020.05.2018<\/li>\n<li><a href=\"https:\/\/carajput.com\/services\/tds-return-filing.php\">Return of TDS\/TCS<\/a> collected in March:\u00a031.05.2018<\/li>\n<li>Due date for filling of GSTR-6- 31 . may . 2018<\/li>\n<li>Due date for filling GST TRAN-2- 30.06.2018<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Direct Tax: Delhi HC sets aside ITAT order holding payment by airline company (assessee) for services under crew lease agreement with Lufthansa, Germany as non-taxable &#8216;business profit&#8217; absent PE in India, directs ITAT to examine taxability as FTS u\/s. 9(1)(vii) and Article VIIIA of India-Germany DTAA;\u00a0[TS-245-HC-2018(DEL)] Delhi HC sets aside ITAT order passed u\/s. 254(2) &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":[1414,2313,1209,2314,1413,1411,1410,1412,1409],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4047"}],"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=4047"}],"version-history":[{"count":5,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4047\/revisions"}],"predecessor-version":[{"id":15379,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/posts\/4047\/revisions\/15379"}],"wp:attachment":[{"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/media?parent=4047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/categories?post=4047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/carajput.com\/blog\/wp-json\/wp\/v2\/tags?post=4047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}