The Chamber Of Tax Consultants, which comprises of leading Advocates and Chartered Accountants, has released a publication which analyses all the provisions of the Finance Bill 2017 in an in-depth and systematic manner.

The USP of the publication is the fact that the discussion is arranged topic-wise. For example, Advocate Rahul Hakani has analyzed the entire proposed law on capital gains and joint development agreement. Likewise, CA Paresh Shah has examined the implications of the proposed amendments relating to international tax. CA Bhavesh Dedhia and CA Paras Gada have meticulously analyzed the provisions relating to transfer pricing. Several other contributors have also provided important insights into the other provisions of the Finance Bill 2017

The CBDT has issued Instruction No. 03/2017 dated 21.02.2017 by which it has meticulously set out the Standard Operating Procedure (SOP) that has to be followed by the Assessing Officers for verification of cash transactions relating to demonetisation

The CBDT has vide Order No. 26 of 2017 dated 20.02.2017 promoted several officers to the grade of Principal Commissioner of Income Tax (HAG scale of pay (Rs. 67,000 – 79,0001-) (pre-revised) by maintaining their inter- se-seniority w.e.f. the date of assumption of charge of the post. The CBDT has also stated that the promotion of certain officers will be on notional basis from the date their juniors were promoted and actually from the date of assumption of charge of the post, whichever is earlier

The Finance Bill 2017 was introduced today, 1st February 2017, in Parliament. A copy of the Finance Bill 2017, together with the key highlights, speech of the Hon’ble Finance Minister and the Explanatory Memorandum, is available for download