News Update

Income tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
Untitled Document
Issue Date
Subject
Notification No
17-Dec-2016
For deposit of specified bank notes by the District Co-operative Central Bank as per RBI Directions
24-Nov-2016
Use of old notes - Deadline extended from Nov 24th to Dec 15th for certain exempted category
24-Nov-2016
Demonetization - Co-operative bank to be read as only "Urban Co-operative Banks and State Co-operative Banks"
21-Nov-2016
Govt notifies section 229 of FA, 2016 relating to FEMA for recovery of  penalty arrears
21-Nov-2016

Withdrawal of Legal Tender Character of the existing Bank Notes in the denominations of Rs. 500/- and Rs. 1000/- ( Updated as on November 21, 2016 )

Frequently Asked Questions

18-Nov-2016
Withdrawal of Rs 2.5 lakh allowed for marriage purpose
17-Nov-2016
Corrigendum of S.O. 3408(E) dated 8th November, 2016
17-Nov-2016
Cash withdrawal limit from bank account specified in case of farmers & wedding expenses
17-Nov-2016
Exchange limit for demonetized notes reduced to Rs. 2000; current account withdrawal limit made applicable to traders registered with APAC or mandis
14-Nov-2016
Promotion of payments through cards and digital means
14-Nov-2016

Govt restricts cash withdrawal to Rs. 50,000 a week, for current accounts in operation during last three months or more

14-Nov-2016

Govt extends time period for use of demonitized notes in case of specified transactions till 24.11.2016

13-Nov-2016
Corrigendum to S.O. 3408(E) dated November 8, 2016
13-Nov-2016
Increase in Withdrawal limit from ATMs & Exchange of money from banks
11-Nov-2016
Extension of date of specified notes for consideration as legal tender
10-Nov-2016
Relaxation for making payment of Tax and Utility bills
09-Nov-2016
Corrigendum to S.O. 3407 (E), dated November 8, 2016
09-Nov-2016
Corrigendum to S.O. 3409(E), dated November 8, 2016
09-Nov-2016

Govt prescribes use of demonitized notes for more transactions

08-Nov-2016
Denomination of 2000 rupee note
08-Nov-2016

Exemptions in respect of certain transactions where legal tender still has effect

08-Nov-2016

Exchange of Rs 500 and Rs 1000 rupee note from banks & ATMs

AR not Afar by SK Rahman

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