{"id":2611,"date":"2016-12-26T12:48:23","date_gmt":"2016-12-26T12:48:23","guid":{"rendered":"http:\/\/caindelhiindia.com\/blog\/?p=2611"},"modified":"2021-07-14T11:52:14","modified_gmt":"2021-07-14T11:52:14","slug":"corporate-and-professional-update-dec-26-2016","status":"publish","type":"post","link":"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-26-2016\/","title":{"rendered":"CORPORATE AND PROFESSIONAL UPDATE DEC 26, 2016"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_58 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-69e6d3b3cd841\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-69e6d3b3cd841\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-26-2016\/#Today_Update\" title=\"Today Update :\">Today Update :<\/a><ul class='ez-toc-list-level-2'><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-26-2016\/#DIRECT_TAX\" title=\"DIRECT TAX:-\">DIRECT TAX:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-26-2016\/#Indirect_Tax\" title=\"Indirect Tax:-\">Indirect Tax:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-26-2016\/#GST_Update\" title=\"GST Update:-\">GST Update:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-26-2016\/#Other_Update\" title=\"Other Update:-\">Other Update:-<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caindelhiindia.com\/blog\/corporate-and-professional-update-dec-26-2016\/#Key_Dates\" title=\"Key Dates:-\">Key Dates:-<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Today_Update\"><\/span><span style=\"color: #333399;\"><strong>Today Update :<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<figure id=\"attachment_2613\" aria-describedby=\"caption-attachment-2613\" style=\"width: 469px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/Private-Limited-Company-Compliances-Venture-Care-2-750x422.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-2613\" src=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/Private-Limited-Company-Compliances-Venture-Care-2-750x422-300x169.jpg\" alt=\"www.caindelhiindia.com; Corporate updates\" width=\"469\" height=\"264\" srcset=\"https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/Private-Limited-Company-Compliances-Venture-Care-2-750x422-300x169.jpg 300w, https:\/\/www.caindelhiindia.com\/blog\/wp-content\/uploads\/2016\/12\/Private-Limited-Company-Compliances-Venture-Care-2-750x422.jpg 750w\" sizes=\"(max-width: 469px) 100vw, 469px\" \/><\/a><figcaption id=\"caption-attachment-2613\" class=\"wp-caption-text\">www.caindelhiindia.com; Corporate updates<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"DIRECT_TAX\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">DIRECT TAX:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>CBDT has issued a press release\u00a0regarding \u201cReporting Cash Transactions under Rule 114E of Income Tax Rules,1962\u201d.<\/li>\n<li>Punjab and Haryana High Court held that the Guarantee commission paid for the acquisition of Fixed Assets are allowed as Revenue Expenditure. [M\/s Chandigarh State Road and Bridges Development Corporation Ltd Vs CIT]<\/li>\n<li>No disallowance for <a href=\"https:\/\/caindelhiindia.com\/service\/tds-return\">TDS<\/a> default where payment becomes liable to TDS due to retro-amendment A. Commissioner of Income-tax -16(3), Mumbai v. D.A. Jhaveri [2016] (Mumbai &#8211; Trib.)<\/li>\n<li>DRP can entertain objection against the draft assessment order passed on directions of Tribunal Fosroc Chemicals (India) (P.) Ltd. v. Deputy Commissioner of Income-tax, Large Taxpayer Unit, Circle 1, Bangalore [2016] (Bangalore &#8211; Trib.)<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Indirect_Tax\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">Indirect Tax:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Bombay High Court held that Section 145A(a)(ii) has no applicability on service revenue which follows that service revenue needs to be inclusive of service tax and the service tax which has not even been claimed as a deduction cannot be disallowed by recasting the profit and loss account of the assessee. [CIT Vs Knight Frank India Pvt Ltd ]<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"GST_Update\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">GST Update:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Details of all Partners\/Members of AOP\/BOI have to be given in the GST Enrolment Application but photos of only 10 have to be uploaded (jpeg, 100 KB each)<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Other_Update\"><\/span><strong><span style=\"text-decoration: underline;\">Other Update:-<\/span><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>RBI issued Procedural Guidelines for Servicing the Sovereign Gold Bonds\u00a0RBI\/2016-17\/ 193IDMD No.1569\/14.04.050\/2016-17.<\/li>\n<li>Ministry of External Affairs in order to streamline, liberalize, and ease the process of issue of passport allowed Aadhar Card as a valid document as proof of date of birth.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Key_Dates\"><\/span><span style=\"color: #333399;\"><strong><span style=\"text-decoration: underline;\">Key Dates:-<\/span><\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li>Payment of <a href=\"https:\/\/caindelhiindia.com\/service\/tds-return\">TDS<\/a> for purchase of property for Nov:\u00a030.12.2016.<\/li>\n<\/ul>\n<p>\u201cI know the price of success: dedication, hard work, and an unremitting devotion to the things you want to see happen.\u201d<\/p>\n<p>We look forward to your valuable comments.\u00a0 <a href=\"https:\/\/www.caindelhiindia.com\">www.caindelhiindia.com<\/a><\/p>\n<p>FOR FURTHER QUERIES CONTACT US:<\/p>\n<p>W:\u00a0<a href=\"https:\/\/www.caindelhiindia.com\">www.caindelhiindia.com<\/a> \u00a0\u00a0 \u00a0E: info@caindelhiindia.com \u00a0 T: 011-233-4-3333, 9-555-555-480<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today Update : DIRECT TAX:- CBDT has issued a press release\u00a0regarding \u201cReporting Cash Transactions under Rule 114E of Income Tax Rules,1962\u201d. Punjab and Haryana High Court held that the Guarantee commission paid for the acquisition of Fixed Assets are allowed as Revenue Expenditure. [M\/s Chandigarh State Road and Bridges Development Corporation Ltd Vs CIT] No &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[642,21,20,850,144,142,146],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2611"}],"collection":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/comments?post=2611"}],"version-history":[{"count":3,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2611\/revisions"}],"predecessor-version":[{"id":2745,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/posts\/2611\/revisions\/2745"}],"wp:attachment":[{"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/media?parent=2611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/categories?post=2611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.caindelhiindia.com\/blog\/wp-json\/wp\/v2\/tags?post=2611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}