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We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

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Presentation on theme: "We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like."— Presentation transcript:

1 We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like a slice of a wholesome pie. NEWSLETTER – AUGUST 2016

2 INDEX Direct Taxation Indirect Taxation Corporate & Other Laws Accounting & Audit Statutory Due Dates August 2016 Statutory Due Dates Newsletter – August 2016

3 DIRECT TAXATION IndexIndex Companies to get PAN and TAN within a day Companies can now get PAN and TAN registration in a day if they submit digital signature based application there by ensuring ease of doing business. Besides this individuals can also get new PAN through Adhaar based e signature facility which will reduce effective time in allotment. Government extends payment date under black money scheme The finance ministry extended the deadline for payment of tax and penalty under the scheme to disclose previously unreported money, allowing this to be done in three instalments by September 30 next year. The ministry also clarified that black money declarants using the window cannot pay tax from undisclosed income. Earlier, the declarant had to pay tax, cess and penalty by November 30. Now, the first instalment of 25 per cent under the Income Declaration Scheme-2016, will have to be paid by November, to be followed by another 25 per cent by March 31, 2017. The remaining amount will have to be paid to the exchequer by September 30, 2017. Newsletter – August 2016

4 INDIRECT TAXATION IndexIndex Tax payers get relief from recovery during pendency of stay In a relief to tax payers, the government has asked taxmen not to proceed with recovery of a 'confirmed' demand in relation to indirect taxes during pendency of stay applications. The Central Board of Excise and Customs (CBEC) issued a circular on 'Recovery of Confirmed Demand of Tax During the Pendency of Stay Application' in relation to indirect taxes. Confirmed demand of tax arises, when after examining the submissions of a tax payer, an order is issued confirming demand of tax from a tax payer. GST Bill passed he Indian tax system has undergone a major change by passing of the GST Bill by the Rajya Sabha on Wednesday, 3 rd August 2016. It capped the struggle of successive governments for a tax regime that is globally competitive and economically gainful. GST is probably the biggest reform India has witnessed. Implementation of this reform is likely to augment 1.5% to GDP of the country. Newsletter – August 2016

5 CORPORATE AND OTHER LAWSIndexIndex Process of trademarks made fully automated T he process relating to issuance of registration certificates for applications made for trademarks has been fully automated, by the commerce and industry ministry. The move is aimed at further streamlining the process of trademarks registrations in the country. Accordingly, it said from August 1, the registration certificates will be generated through an automated system in accordance with the relevant provisions of the Trade Marks Act and Rules. Newsletter – August 2016

6 ACCOUNTING & AUDITIndexIndex Only 18% of India Inc ready for auditor rotation says survey Only 18 per cent of Indian firms are ready for auditor rotation which is been made compulsory under the Companies Act, 2013 — said a recent survey conducted by Grant Thornton India in association with Prime Database. According to Section 139 of the new Companies Act, every Indian company having a paid-up capital of Rs 20 crore or more that has kept the same audit firm for more than 10 years would need to change the auditor by the end of 2016-17. Newsletter – August 2016

7 STATUTORY DUE DATES FOR AUGUST 2016 Index Index Statutory Due Dates Calendar for August 2016 Newsletter – August 2016 Due DateStatutory Compliance 5 th August 2016Payment of Service Tax/ Excise duty 7 th August 2016Payment of TDS 10 th August 2016Excise Return (if monthly) 15 th August 2016Payment of Provident Fund contribution/ Profession Tax 21st August 2016Payment of VAT & ESIC

8 Get in Touch www.nyaasa.com +91.20.6500 1753 +91.20.6500 8738 contact@nyaasa.com

9 Newsletter – August 2016 THANK YOU !

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We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.
We are dependable and trustworthy knowledge processing partner. Although we are a separate entity, we are an integrated part of your organization, like.

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