Finance Act 2017
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SBI Shows Interest In Buying 49% Stake In Crisis-Hit Yes Bank: 10 Points
The Reserve Bank of India (RBI) on Friday said the State Bank of India (SBI) has expressed willingness to invest in crisis-ridden Yes Bank. In a draft reconstruction scheme for the private lender, the central bank also said that the investor bank shall invest in Yes Bank to the extent that it will hold 49 per cent equity after the infusion. A day a...
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"Money Laundering": Congress Takes On BJP After Reports On Electoral Bonds
The Congress has posed a series of questions for the Narendra Modi government after news reports that claimed the Centre had disregarded a warning from the Reserve Bank about electoral bonds. Legalisation of electoral bonds, for which the RBI Act had to be amended, was part of the Finance Bill 2017, which has come under the scanner of the Supreme C...
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"Deeply Grateful": Jairam Ramesh On Supreme Court Order On Finance Bill
The Supreme Court's order on the validity of the Finance Act 2017 will have "far-reaching consequences" on any attempts to abuse the Money Bill route, said Congress leader Jairam Ramesh, the petitioner in the case.
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Key Changes In New ITR Forms For Assessment Year 2018-19
New forms incorporate changes made by the Finance Act, 2017 in the Income tax Act, 1961.
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Finance Minister Arun Jaitley Introduces Bill To Replace Banking Regulation Ordinance
The Banking Regulation (Amendment) Bill, 2017, seeks to amend the Banking Regulation Act, 1949 and replace the Banking Regulation (Amendment) Ordinance, 2017.
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Credit Card Bill Payment Exempt From Cash Dealing Limit
The Finance Act 2017 banned cash transaction of Rs 2 lakh or above with effect April 1, 2017. However, some exceptions were made.
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Link Aadhaar With PAN Immediately, Says Tax Department. How To Do It
The government, under the Finance Act 2017 has made it mandatory for taxpayers to quote Aadhaar or the enrolment ID of Aadhaar application form for filing income tax returns.
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Income Tax Department Launches New Facility To Link Aadhaar With PAN
The Income Tax department has launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing Income Tax returns now.
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Supreme Court Asks Centre: Why Have You Made Aadhaar Mandatory For PAN
The Supreme Court today pulled up the centre for making Aadhaar mandatory for PAN cards, despite its order that it should be optional. In its defence, the government said that fake PAN cards were being used to "divert funds" to shell firms.
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Lok Sabha Passes Bill To Make Excise, Customs Acts Compliant With GST
The Lok Sabha on Thursday passed a bill that will ensure continuance of levy of excise on petroleum products and abolition of cess on some other items following GST rollout from July 1. The Taxation Laws (Amendment) Bill, 2017 seeks to amend the Customs Act, 1962, the Customs Tariff Act, 1975, the Central Excise Act, 1944, the Finance Act, 2001 and...
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Centre To Scrap Seven Appellate Tribunals
The dissolution of tribunals are part of the 40 amendments to different Acts which were moved along with the Finance Bill, 2017, which was approved by the Lok Sabha.
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Tax Department To Start Consultation On Changes In Customs Act
The earlier practice of importers tofile bill of entry as per their convenience was causing administrative issues at customs stations, according to tax experts.
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Budget 2017: Finance Minister Proposes Incentives To Boost Investment In NPS
A further deduction to an employee in respect of contribution made by his or her employer is allowed up to 10 per cent of the employee's salary.
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Tax Officials Can Reopen Up To 10-Year-Old Cases In Big Transactions
According to the memorandum to the Finance Bill 2017, the amendment to the Income Tax Act will take effect from April 1, 2017. This means that the books of accounts of an assessee can be reopened by taxmen back till 2007.
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Government To Phase Out Tax Sops On Rajiv Gandhi Equity Scheme
Noting that "limited number of individuals availed this deduction", the Union Budget 2017-18 today proposed to rationalise this tax benefit introduced in Finance Act, 2012 and phase it out from assessment year 2018-19.
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SBI Shows Interest In Buying 49% Stake In Crisis-Hit Yes Bank: 10 Points
The Reserve Bank of India (RBI) on Friday said the State Bank of India (SBI) has expressed willingness to invest in crisis-ridden Yes Bank. In a draft reconstruction scheme for the private lender, the central bank also said that the investor bank shall invest in Yes Bank to the extent that it will hold 49 per cent equity after the infusion. A day a...
-
"Money Laundering": Congress Takes On BJP After Reports On Electoral Bonds
The Congress has posed a series of questions for the Narendra Modi government after news reports that claimed the Centre had disregarded a warning from the Reserve Bank about electoral bonds. Legalisation of electoral bonds, for which the RBI Act had to be amended, was part of the Finance Bill 2017, which has come under the scanner of the Supreme C...
-
"Deeply Grateful": Jairam Ramesh On Supreme Court Order On Finance Bill
The Supreme Court's order on the validity of the Finance Act 2017 will have "far-reaching consequences" on any attempts to abuse the Money Bill route, said Congress leader Jairam Ramesh, the petitioner in the case.
-
Key Changes In New ITR Forms For Assessment Year 2018-19
New forms incorporate changes made by the Finance Act, 2017 in the Income tax Act, 1961.
-
Finance Minister Arun Jaitley Introduces Bill To Replace Banking Regulation Ordinance
The Banking Regulation (Amendment) Bill, 2017, seeks to amend the Banking Regulation Act, 1949 and replace the Banking Regulation (Amendment) Ordinance, 2017.
-
Credit Card Bill Payment Exempt From Cash Dealing Limit
The Finance Act 2017 banned cash transaction of Rs 2 lakh or above with effect April 1, 2017. However, some exceptions were made.
-
Link Aadhaar With PAN Immediately, Says Tax Department. How To Do It
The government, under the Finance Act 2017 has made it mandatory for taxpayers to quote Aadhaar or the enrolment ID of Aadhaar application form for filing income tax returns.
-
Income Tax Department Launches New Facility To Link Aadhaar With PAN
The Income Tax department has launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing Income Tax returns now.
-
Supreme Court Asks Centre: Why Have You Made Aadhaar Mandatory For PAN
The Supreme Court today pulled up the centre for making Aadhaar mandatory for PAN cards, despite its order that it should be optional. In its defence, the government said that fake PAN cards were being used to "divert funds" to shell firms.
-
Lok Sabha Passes Bill To Make Excise, Customs Acts Compliant With GST
The Lok Sabha on Thursday passed a bill that will ensure continuance of levy of excise on petroleum products and abolition of cess on some other items following GST rollout from July 1. The Taxation Laws (Amendment) Bill, 2017 seeks to amend the Customs Act, 1962, the Customs Tariff Act, 1975, the Central Excise Act, 1944, the Finance Act, 2001 and...
-
Centre To Scrap Seven Appellate Tribunals
The dissolution of tribunals are part of the 40 amendments to different Acts which were moved along with the Finance Bill, 2017, which was approved by the Lok Sabha.
-
Tax Department To Start Consultation On Changes In Customs Act
The earlier practice of importers tofile bill of entry as per their convenience was causing administrative issues at customs stations, according to tax experts.
-
Budget 2017: Finance Minister Proposes Incentives To Boost Investment In NPS
A further deduction to an employee in respect of contribution made by his or her employer is allowed up to 10 per cent of the employee's salary.
-
Tax Officials Can Reopen Up To 10-Year-Old Cases In Big Transactions
According to the memorandum to the Finance Bill 2017, the amendment to the Income Tax Act will take effect from April 1, 2017. This means that the books of accounts of an assessee can be reopened by taxmen back till 2007.
-
Government To Phase Out Tax Sops On Rajiv Gandhi Equity Scheme
Noting that "limited number of individuals availed this deduction", the Union Budget 2017-18 today proposed to rationalise this tax benefit introduced in Finance Act, 2012 and phase it out from assessment year 2018-19.
