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Dependable Knowledge Processing Partner - January 2018 Newsletter

We are a trustworthy and dependable knowledge processing partner, integrated into your organization. Our newsletter covers topics such as direct taxation, indirect taxation, corporate & other laws, accounts and audit, and statutory due dates for January 2018.

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Dependable Knowledge Processing Partner - January 2018 Newsletter

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  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 – JANUARY 2018

  2. INDEX • Direct Taxation • Indirect Taxation • Corporate & Other Laws • Accounts and Audit • Statutory Due Dates January 2018 Newsletter – January 2018

  3. DIRECT TAXATION Index • Full IT E-assessment from next year , plans CBDT • The government is set to roll out a pan-India "faceless and nameless" e-assessment procedure for income tax payers from 2018 with the CBDT constituting a high-level committee to prepare a quick roadmap for the implementation of this ambitious proposal. he CBDT has been running a pilot project in a few major cities and has been testing the feasibility of implementing this new regime of tax assessment for the last few years.  • The initiative was launched to reduce visits by taxpayers to I-T offices and their interface with the taxman, thereby curbing corruption.  Newsletter – January 2018

  4. INDIRECT TAXATION Index • Due date for filing GSTR 1 extended • Last date for filing of Monthly return in FORM GSTR-1 for July-October, 2017 for Registered persons having Aggregate turnover of up to 1.5 crore rupees in the preceding financial year or the current financial year  has been extended to 10thJanuary, 2018 from earlier due date of 31st December, 2017. Newsletter – January 2018

  5. CORPORATE AND OTHER LAWSIndex • Non- compliance to be very costly for companies • Sending out a strong message to corporates, the government has said non-compliance will be "very costly" and strong deterrents will be there to curb the dangerous adventure of using companies for wrongful purposes.Continuing the clampdown on illicit fund flows, the Ministry of Corporate Affairs has already struck off more than 2.24 lakh companies that have not been doing business for long and has disqualified over three lakh directors associated with such entities. Against this backdrop, Corporate Affairs Secretary Injeti Srinivas said things are being simplified for legitimate businesses while checks are being strengthened against illegal business activities. • To provide a three-month window for defaulting companies to submit their filings, the ministry would be coming out with the Condonation of Delay Scheme. It is to be in place from January 1 to March 31, 2018. Newsletter – January 2018

  6. ACCOUNTS AND AUDIT Index • FRDI Bill 2017 The Financial Resolution and Deposit Insurance Bill (FRDI) aims to set up a resolution corporation which will monitor financial companies, categories them as per their risk profiles and step in to prevent them from going bankrupts by writing down their liabilities. Financial Resolution and Deposit Insurance (FRDI) Bill, 2017 seeks to protect and enhance the depositors’ existing rights and bring in a comprehensive and efficient resolution regime for financial firms. This bill likely to be introduced in Parliament even during the Budget Session. Newsletter – January 2018

  7. STATUTORY DUE DATES FOR JANUARY 2018 Index • Statutory Due Dates Calendar for January 2018 Newsletter – January 2018

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

  9. THANK YOU ! Newsletter – January 2018

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