A key panel of the Goods and Services Tax (GST) Council on Saturday decided to extend the deadline for businesses and traders to remit their taxes and file returns for the month of July—the first month of rolling out the indirect tax reform—by five days to 25 August. A statement...
The July 31 deadline for filing of income tax returns has been extended further by the Central Government. In view of the difficulties faced by taxpayers, date for filing of Income Tax Returns for FY 2016-17 has been extended to 5th August, 2017. — Income Tax India (@IncomeTaxIndia) July 31, 2017 The...
This is the second buy-out of Freecharge, first Jasper InfoTech sold it to Snapdeal in April 2015 and now Snapdeal is selling it to Axis Bank at Rs 385 crore ($60.04 million). As per the deal, Axis Bank is paying Rs 385 crore to acquire 100% stake in FreeCharge, a...
CBSE has issued a detailed notification for UGC NET 2017 exams to be held on 5 November. The candidates who desire to appear in the test may see the detailed notification available on the website: www.cbsenet.nic.in, from Monday. The candidates are required to apply online from 1 August. The last date...
How to download GST Rates Finder App: Central Board of Excise and Customs (CBEC) launched GST rates finder app on Friday evening. This new mobile app has been launched by the Government of India to clear all doubts about the different GST rates. The app was launched by Union Finance...
Now with the proposals as per the 7th Pay Commission being cleared, the government is gearing up to implement the same. At least 48 lakh employees of the central government will benefit from the HRA. The minimum HRA would go up from Rs 2,100 to Rs 5,400. Although the HRA percentage...
Those who have an Aadhaar number already will still have to seed it with PAN when filing the IT returns, but the government cannot force those who don’t have an Aadhaar card as yet, to get one to file their tax returns if they have a PAN. The Supreme Court...
Traders and retailers can file declarations within 90 days claiming a tax credit for transition stock after the GST rolls out from July 1. The transition rules approved by the GST Council provides that "every registered person entitled to take credit of input tax shall, within 90 days of the...
The Central Board of Direct Taxes (CBDT) on Tuesday exempted genuine equity investments through IPOs, bonus or rights issues by a listed company from long-term capital gains (LTCG) tax even if no securities transaction tax (STT) was paid on the transfers. The provision was aimed at preventing the misuse of...
Recently Axis & Yes have jolted the banking community with their result. As per a report in The Wire, both Axis Bank and Yes Bank were audited by the same person, CA Viren H. Mehta (membership number 048749) in FY’2016. Mehta is a partner at Batliboi and Co., which in turn...