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Month: November 2019

Labour ministry drops proposal to corporatise EPFO

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The labour ministry plans to drop its proposal to corporatise the Employees’ Provident Fund Organisation (EPFO) and instead dust off its earlier proposal to set up a body headed by the Prime Minister to oversee the social security of nearly 500 million workers. The move comes after it was pulled up by the Prime Minister’s […]

No GST on salary, says CBIC

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The Finance Ministry on Friday made it clear that Goods & Services Tax (GST) will not be levied on salary. This clarification has come in the wake of reports that GST has been demanded on salaries paid to CEOs (Chief Executive Officer) or employees of a company. “…media report in this regard alleging that tax […]

Quoting wrong PAN, Holding more than one PAN can attract a Rs. 10,000 fine

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The income tax department may impose a penalty under section 272B of the Income Tax 1961 if anyone is found giving an incorrect PAN number. This provision is applicable when you are filing your income tax return (ITR) or in other cases where it is mandatory to quote PAN card number for carrying out specific […]

DIN comes in force from 8th November, 2019; Communication from GST, Customs & Excise invalid without it

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In order to protect GST taxpayers from any harassment at the hands of errant tax officials, the Central Board of Excise and Customs (CBEC), is going to use a unique number in every communication with taxpayers from 08/11/2019. Central Board of Indirect Taxes and Customs will begin using a unique Document Identification Number (CBIC-DIN) from […]

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