Friday, 14 April 2017
Some recent updates that you’d not like to miss – 14.04.2017
1. Individuals struggling to link their permanent account number (PAN) with Aadhaar because of differently spelt names can now simply upload a scanned copy of PAN to get the work done.
2. All cash payments over Rs. 2 lakhs for loans and credit card bills during the 50-day period after demonetization will have to be disclosed in the new one page Income Tax Return form.
3. Under GST, if another unit of entity outside SEZ has already gets registration done then also separate registration shall be required for SEZ Unit or Developer even if it’s in same state.
4. Under GST, inward supplies which are not eligible for ITC fully or partly whether at invoice level or otherwise have to be specified by the purchaser.
5. As per CBDT, restriction on cash transaction shall not apply to withdrawal of cash from bank, co-operative bank, or a post office savings bank.
6. Last date for filing of Service Tax Return for the period from October 2016 to March 2017 is 25th April 2017.
7. Income Tax department has tie-up with MCA. Consequently, it has started issuing PAN and TAN to newly incorporated companies within 1 day (in e-form).