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TMI - e-Newsletter TaxTMI Excess Input Tax Credit penalty appeal dismissed... TaxTMI Income Tax Assessment Notice Issued by... TaxTMI Excessive delay in issuing show cause notice &... TaxTMI Rectification: Show Cause Notice quashed for period... TaxTMI Investor locked into long-term capital gains bonds;... TaxTMI Funds received by assessee overlooked during... TaxTMI Cash deposits explained through VAT returns, cash... TaxTMI Customs duty dispute: Imported goods classified as... TaxTMI Appointment of adjudicator for corporate penalties... TaxTMI Undisclosed investments, agricultural land... TaxTMI Taxpayer's victory: AO's order upheld, PCIT's... TaxTMI Non-resident Singapore firm's software licensing... TaxTMI Excessive transport expenses deduction and TDS... TaxTMI Importer imports "Ground Colemanite (B2O3 40%)... TaxTMI Bank penalized for delayed reporting of high-value... TaxTMI Latest Case-Laws TaxTMI Latest Notifications + Circulars TaxTMI GST Council Decisions TaxTMI

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December 23, 2016 Reporting Cash Transactions under Rule 114E of Income –tax Rules, 1962 December 23, 2016 RBI Reference Rate for US $ December 23, 2016 Payments towards Tax, Penalty, Surcharge and Deposit under PMGKY 2016 in Old Demonetised Currency December 22, 2016 RBI governor to brief parliamentary panel on Jan 19 December 22, 2016 Make in India 'Skill Development Sector'- Achievement Report December 22, 2016 Income Tax Department Identifies 67.54 lakh Potential Non-Filers for F.Y. 2014-15 December 22, 2016 I-T Dept cautions taxpayers against sharing user ID, password December 22, 2016 RBI Reference Rate for US $ December 22, 2016 Ministry of MSME Year End Review 2016 December 22, 2016 Government Clarification on Amendment to Payment of Wages Act December 22, 2016 RBI slaps fine on 5 foreign banks for violating FEMA December 21, 2016 RBI Reference Rate for US $ December 21, 2016 In order to further promote digital and card payments, Department of Financial Services, Ministry of Finance issues direction in public interest all Public Sector Banks(PSBs) not to charge fees for transactions settled on Immediate Payment Service (IMPS) and Unified Payments Interface (UPI) in excess of rates charged for National Electronic Funds Transfer (NEFT) for transactions above ₹ 1000/-, with service tax being charged at actual; December 21, 2016 I-T detects ₹ 3,185 cr black income; seizes ₹ 86cr new notes December 21, 2016 FM: India remains a bright point in global economy and BRICS in particular despite the slowdown in global economy in 2016 December 21, 2016 Measures for Promoting Digital Payments & Creation of Less-Cash Economy: Benefit of lower rate of Income Tax on digital turnover for small businesses December 21, 2016 FM: Current Financial Year 2016-17 is not a conventional year as major reformative decisions have been taken; There is need for out of box thinking; Doesn’t see any serious challenges as far as structural changes are concerned December 21, 2016 Attention Importers, Exporters and Customs Brokers: HSN 2017 will be operational w.e.f. 00:00 hrs on 01-01-2017 December 20, 2016 Modified norms to lower taxes of small traders by 30%: FM December 20, 2016 Release of Central Assistance of ₹ 450 crore to the State of Telangana for development of backward areas in terms of provisions under Andhra Pradesh Reorganisation Act, 2014

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