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We are dependable and trustworthy knowledge processing partner

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1 We are dependable and trustworthy knowledge processing partner
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 2017

2 Statutory Due Dates August 2017
INDEX Direct Taxation Indirect Taxation Corporate & Other Laws Accounting & Audit Statutory Due Dates August 2017 Newsletter – August 2017

3 DIRECT TAXATION Index Income Tax Return due date is extended to August 5 The Income-tax department on Monday 31st July extended the deadline for filing of I-T returns for the assessment year to August 5. The reason for this extension in deadline is understood to be technical snag developed by the online tax-filing platform, incometaxindiaefiling.gov.in, due to the last-minute rush by tax filers. The government portal had been facing glitches for the past three days, even as the introduction of GST since July 1 kept chartered accountants busy, further aggravating the problems faced by tax filers. Newsletter – August 2017

4 INDIRECT TAXATION Index
GST Deadline – Tax Composition Scheme extended upto 16th August The government extended the deadline for small businesses to opt for the composition scheme in the GST regime by nearly four weeks to August 16. Small businesses with turnover of up to Rs 75 lakh earlier had time till 21st July 2017 to opt for the scheme in the Goods and Services Tax regime. To opt for composition scheme, the taxpayer needs to log into his account at the GST Portal and select ‘Application to opt for the Composition Scheme’ under ‘Services’ menu. They have to fill up the Form GST CMP-01 to opt for the scheme. Newsletter – August 2017

5 CORPORATE AND OTHER LAWS Index
Government plans to amend norms for removal of independent directors The government plans to amend the regulations pertaining to independent directors under the companies law, amid concerns over the procedures followed in appointment and removal of such directors. In recent times, the role of independent directors has come to the fore in the context of corporate governance practices. Section 169 of the Companies Act, 2013 pertains to removal of independent directors. To a query on whether Sebi has sought the involvement of the government for revising the rules in the process of removal of independent directors by amending the Companies Act, the minister replied in the affirmative. Earlier this month, Sebi chairman Ajay Tyagi had said that some people are quite serious when they take up the role of an independent director, but there are plenty who are just eager to join the board as per convenience. Newsletter – August 2017

6 ACCOUNTING & AUDIT Index
Reserve Bank extends rest period for auditors to 6 years The Reserve Bank of India (RBI) on criticised private and foreign banks for appointing the same set of auditors alternatively after mandatory rest of two years, as such practice establishes a “comfortable relationship that may lead to compromise in strict adherence to audit principles.” As per the extant rules, a statutory auditor has to be appointed for a period of four years and then there should be a rest of two years. Now the central bank extended the rest period to at least six years.According to RBI, in some cases in private and foreign banks, the same audit firm was reappointed after a gap of two years’ rest. In a few other banks, the immediately preceding statutory auditor firm was appointed on completion of the four-year tenure of the current statutory auditor. Newsletter – August 2017

7 STATUTORY DUE DATES FOR AUGUST 2017 Index
Statutory Due Dates Calendar for August 2017 Due Date Statutory Compliance 7th August 2017 Payment of TDS 15th August 2017 Payment of Provident Fund contribution/ Profession Tax 15th August 2017 Filing of Service Tax Return For April to June 2017 20th August 2017 Filing of GSTR 3B for July 2017 21st August 2017 Payment of ESIC Newsletter – August 2017

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

9 THANK YOU ! Newsletter – August 2017

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1 TAXATION IN INDIA. 2 Overview 1- The provisions of Indian Income-Tax are governed by Indian Income-Tax Act, 1961 which extends to the whole of India.

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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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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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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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AUDIT & AUDITORS Government Companies :-

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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.
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