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Budget 2017 gives a Major push to Digital Economy, No Cash Transaction above Rs 3 lakh

Taxscan Team

Mission to be set-up to achieve a target of 2500 Cr digital transactions in 2017-18 Series of measures proposed to strengthen and regulate...

Income in the form of Assets cannot be declared under PMGKY Scheme: No Credit for Advance Tax or...

Black Money would be Taxable at Higher Rates; Jaitley on Demonetisation, IDS & Cashless Economy

FM Arun Jaitley holds Pre-Budget Consultations with the Finance Ministers of all States / UTs

SC dismisses Petition Challenging Levy of Tax, Surcharge, Penalty & Deposit under Pradhan Mantri...

All you need to know about the Pradhan Mantri Garib Kalyan Yojana, 2016

Following the shocking move of currency ban which aims at removal of black money in India, the Central Government has introduced the Pradhan Mantri Garib Kalyan Yojana, 2016 last week. The scheme is...

President Promulgates Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 [Read Ordinance]

The President of India has approved the promulgation of the Specified Bank Notes (Cessation of Liabilities) Ordinance, 2016 today i.e. on 30th December, 2016. The Ordinance is a follow-up to the...

India & Singapore Signs Third Protocol for Amending DTAA

India and Singapore have amended the DTAA for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income, by signing a Third Protocol today. This is in line with...

Taxation Laws (Second Amendment) Act, 2016 came into force

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 introduced under the said Act to commence from tomorrow i.e. 17th December, 2016 and to remain open for declarations...

India & Switzerland signs ‘Joint Declaration’ for Implementation of Automatic Exchange of Information

Both the jurisdictions intend to introduce on a reciprocal basis automatic exchange of financial account information between each other beginning in the year 2018. India ratified Multilateral...

Demonetization: SC to hear PIL seeking Withdrawal of all Taxes and Complete Ban of High Value Notes on Friday

The division bench of the Supreme Court, on Tuesday agreed to hear the PIL seeking complete ban of Rs. 500, 1000 and 2,000 notes and withdrawal of all taxes except custom and import duties; and...

Debit Notes - Revisional Jurisdiction - GST - Rule 8D

IBA directs Banks to accept banned Currency Notes for IDS payments till 2017 without asking source

The Indian Banks Association recently directed the banks to accept Rs. 500 and Rs. 1000 notes for the payment of tax, penalty and interest payments in connection with the IDS scheme. The last date for...

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