Service Tax Return for the period 1.4.2017 to 30.06.2017

Service Tax return for the period 1st April, 2017 to 30th June,2017 shall be submitted by 15th Aug. 2017, in form ST-3 or ST-3C as the case may be, period for revision of the return shall be 45 days from the date of submission of return.

Source:
https://drive.google.com/open?id=0B1rRav-P4-8JelI0dzY0Q3V4Nkk

FURNISHING OF STATEMENT OF FINANCIAL TRANSACTIONS UNDER FORM 61A

Under the Income Tax Laws a new concept of furnishing of “Statement of financial Transactions” in Form No 61A (previously called as ‘Annual Information Return (AIR)’, has been introduced. These statements will help the tax authorities to collect information on certain prescribed high value transactions undertaken by a person during the year.

Read More:

https://drive.google.com/open?id=0B1rRav-P4-8JQkFPcDBGUC1BYmM
Form 61A
https://drive.google.com/file/d/0B1rRav-P4-8JWG1Za2Q4VHgzMW8/view?usp=sharing

User Guide on Report Generating Utility for For 61A
https://drive.google.com/open?id=0B1rRav-P4-8JeGNleE1UWTREQkU

Source: https://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/SFT_Report_Generation_Utility_User_Guide.pdf

UNION BUDGET 2017-18

Key Features of Budget 2017-2018
https://drive.google.com/file/d/0B1rRav-P4-8JdkdCb3d3MWNsODg/view?usp=sharing

The Finance Bill, 2017
https://drive.google.com/file/d/0B1rRav-P4-8JbXRMMURwTUFuM0U/view?usp=sharing

Provisions related to Direct and Indirect Taxes
https://drive.google.com/file/d/0B1rRav-P4-8JbGxCbHRUVmxlYTA/view?usp=sharing


Source: indiabudget.nic.in

200% Penalty- Section 270A, of The Income Tax Act, 1961

After demonetization of `500 and `1000 currency notes by Government of India the most talked about penal provision is penalty @200% on misreported income. Section 98 of Finance Act 2016 has inserted this new section 270A in Income Tax Act 1961, it provides the procedure to charge penalty for under reporting and misreporting of income. This atrocious penal provision on under reporting and misreporting of income is effective from 1st day of April, 2017 i.e. applicable for financial year 2016-17. 

Read More:
https://drive.google.com/file/d/0B1rRav-P4-8JQ2RVMDlpaVh4NWs/view?usp=sharing

Extension of due date for submission of Income Tax return

CBDT vide order u/s 119 dated 09/09/2016 has extended the 'due date' for submission of Returns of Income from 30/09/2016 to 17/10/2016 in the case of income tax assessees throughout India who are liable to file their Income tax returns by 30/09/2016. For details:
http://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF_News/Extension-of-date-of-filing-return-09-09-2016.pdf

Goods and Service Tax- NEXT STEPS

With Rajya Sabha approving the long-delayed GST bill, the government has announced on thursday, 4th Aug., 2016,  roadmap on implementation of GST.
 Read more: https://drive.google.com/open?id=0B1rRav-P4-8Jb1ptbDFqMjhWemc
Source:finmin.nic.in

VACANCY FOR ARTICLED ASSISTANTS

At Vinay Kaushik & Co. 

We offer:- 

⇒ Best professional environment and valued exposure in the fields of:

•       Direct and Indirect Taxes, 
•       Corporate Laws, 
•       Labour Laws, 
•       Management consultancy,
•       Accounting and Auditing 

⇒ Flexibility in exams preparation leave, within the parameters of ICAI guidelines.

⇒ Unsurpassed monthly stipend, ranging between Rs.4,000.00  to Rs.6,000.00, plus other allowances (on actual basis).

⇒ Modern infrastructure and gadgets.

⇒ Exposure to latest licenced softwares and IT Tools for auditing and accounting.

⇒ Exposure to enhance communication skills. 

Apply at the following address / Email:

Vinay Kaushik & Co.
Chartered Accountants
2nd floor, Meridian Tower-2,
Near Passport Office, 
Indira Gandhi Marg,
Udhna Darwaja, 
Surat-395003.

Email: vinay.kaushik@icai.org 

 Tel. +261-2333527 / 6534665

 Cell +9227907024