Standard Operating Procedure for Scrutiny of Returns for FY 2019-20
The Central Board of Indirect Taxes and Customs (CBIC) has issued the Standard Operating Procedure for Scrutiny of Returns for FY 2019-20 on 26th May...
Category : Latest
GST Update – Guidelines for Special All-India Drive against fake registrations
The CBIC has issued the guidelines for Special All India Drive against fake registrations which will take place between 16th May 2023 to 15th July...
GST Update – Aadhar authentication and Bio metric verification of Application for the GST registration
In the Notification No. 4/2023 – Central Tax and Notification No. 5/2023-Central Tax, it has been laid down that the provision related to the Aadhar...
Income Tax Update – Regarding date of approval of Section 80G
The Central Board of Direct Taxes (CBDT) have notified the Notification No. 34/2023 dated 30th May 2023 in which it has been specified that the...
Income Tax update – CBDT introduces E-appeal scheme
The Central Board of Direct Taxes (CBDT) has notified the E-appeal scheme 2023 in which the Joint Commissioner (Appeals) have been made the designated authority....
Income Tax Update – Filing of SFT extended for few days
In the twitter notification by the Income tax department, the department has notified that due to the heavy traffic while filing the SFT, some taxpayers...
Draft rules on Angel tax provisions on consideration received from Non Resident investors by Closely Held Companies
The Central Board of Direct Taxes (CBDT) has published the Draft rules for valuation of unquoted equity shares. The said rules have been taken as...
Income Tax Update – Clarification regarding provisions relating to charitable and religious trust
The Central Board of Direct Taxes (CBDT) has issued the clarification regarding provisions relating to charitable and religious trusts vide Circular No. 6 of 2023...
Income Tax Update – Treatment of TDS on online gaming, amendment in section 194N and amendment in Form 16 for AY 2024-25
The Central Board of Direct Taxes (CBDT) has notified the Notification No. 28/2023 in which there has been an amendment in Section 194N, prescribing the...
Income tax Update – CBDT enlists 3 categories of persons not covered under the Angel tax provisions
The CBDT has notified the 3 categories of persons whose investments in the Closely Held Companies shall not be covered within the ambit of Angel...
Income Tax Update – Amendment in Section 56(2)(viib) for receipt of consideration from any person
In the Notification No. 30/2023, the CBDT has notified that the consideration received by Companies for share capital exceeding the face value received from any...
Income Tax Update : Limit of Leave Encashment extended for Non Government Employees
The Central Board of Direct Taxes (CBDT) has extended the limit of Leave Encashment for the Non Government employees from Rs. 3,00,000/- to Rs. 25,00,000/- ...
CA, CS and CMA brought under the PMLA net
On 3rd May 2023, the Ministry of Finance has issued the notification in which the CA, CS and CMA have been brought under the definition...
Notification No. 03/2023 – Central Tax – Extension of time limit for filing of Revocation of cancellation of GST registration
On 31st March 2023, the CBIC has issued the Notification in which it has been stated that the time limit for filing the revocation of...
Notification No. 02/2023 – Central Tax – Waiver of late fee for filing GSTR 4 from July 2017 to March 2019 and FY 2019-20 to FY 2021-22
In the Notification no. 02/2023-Central Tax dated 31st March 2023, The Department has decided to waive off the late fee in filing the GSTR 4...
The President of India assents Finance Act 2023
On 31st March 2023, the President of India gives the assent to the Finance Act 2023. To download the Finance Act, click here Finance Act...
GSTN launches e-invoice registration services with private IRPs
In another step towards further digitization of the business process flow, GSTN has launched the e-invoice registration services through multiple private IRPs at the recommendation...
Recommendations of 49th GST Council Meeting
The 49th GST Council met under the Chairpersonship of Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman in New Delhi today. The meeting...
MCA allows physical filing of Form GNL 2, MGT 14, PAS 3, SH 8, SH 9 and SH 11 in physical form
The Ministry of Corporate Affairs (MCA) has allowed the stakeholders to file certain forms through the physical mode vide General Circular No. 05/2023 published on...
Amendment in Rule 16CC and Rule 17B regarding Audit report formats for Charitable and Religious trusts and Institutions registered under section 10(23C)
The Income Tax Department on 21st February 2023 has notified the Income tax (amendment rules), 2023 to amend the Rule 16CC and Rule 17B and...
ITR 7 for AY 2023-24 notified
The Income Tax Department has notified the ITR 7 on 14th February 2023 vide Notification No. 5/2023. To view and download the Notification, click here...
Income tax return forms for AY 2023-24 notified
The Income Tax Department has notified the ITR forms for AY 2023-24 vide Notification No. 4/2023 published on 10th February 2023. In the Notification, the...
MCA further extends the time limit for filing of 45 company e-Forms, PAS-03 and SPICE+PartA in MCA 21 Version 3.0 without additional fee
The Ministry of Corporate Affairs (MCA), on 21st February 2023, has further extended the time limit for filing the 45 Company e forms, Form PAS...
MCA extends time for filing 45 Company e-forms and Form PAS 03 in V3.0 without addtional fee
Due to change in way of filing in Version-3, including fresh process of registration of users on MCA-21 and process of stabilization of 45 forms...
Section 115BAE – New concessional tax rate for New manufacturing Co-operative societies
In the Finance Bill 2023, a new section 115BAE has been proposed to be inserted providing the concessional tax regime to new manufacturing co-operative societies....