Clause 30C and 44 deferred

https://drive.google.com/file/d/1OHbnWG_0cuEG2wGg84n63rJ7EMjz7u5A/view?usp=drivesdk

Due date for tax audit extended

Utilizing the powers under section 119 of the Income Tax Act, 1961, CBDT has extended the date of filing Tax Audit from 30th Sept. 2017 to 31st Oct. 2017 for A.Y.2017-2018
Copy of the Order:https://drive.google.com/open?id=0B1rRav-P4-8JY0lqazVDUDhucTg

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