Corporate Updates – 02-11-2017


CBDT extends due date for filing Income Tax Returns and Tax Audit Reports upto 7th November, 2017. On consideration of representations from various stakeholders for further extension of ‘due date’, being 30th September 2017 for those liable to file returns by 30.09.2017 and to facilitate ease of compliance by the taxpayers, CBDT has further extended the ‘due-date’ for filing Income Tax Returns and various reports of audit prescribed under the Income-tax Act,1961 pertaining to AY 2017-18 from 31st October, 2017 to 7th November, 2017 for all such taxpayers.

Ease of Doing

India’s has made a historic jump of 30 ranks in the World Bank’s Doing Business Report, 2018. India’s rank has risen to 100 in the latest report compared to 130 in the Doing Business Report, 2017. Historic jump in ‘Ease of Doing Business’ rankings is the outcome of the all-round & multi-sectoral reform push of Team India. Easier business environment is leading to historic opportunities for our entrepreneurs, particularly MSME sector & bringing more prosperity. Over the last 3 years we have seen a spirit of positive competition among states towards making business easier. It is worth noting that various initiatives were taken in the past couple of years to improve this ranking starting from the incorporation of companies and going upto the registration process and compliance’s thereafter.

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