Deferment of certain provisions of Volume – I of Code of Ethics 2019
As the members are aware, the revised 12th edition of Code of Ethics has come into effect from 1st July, 2020. It is accessible on...
Category : Latest
Income Tax Department conducts searches in Delhi-NCR on Automobile Manufacturing Group, Company Operating Chartered Flights and Real Estate Groups
The Income Tax Department conducted a search and seizure operation on a leading automobile manufacturer group along with a company operating chartered flights and a...
Signing of 62 Advance Pricing Agreements by CBDT in FY 2021-22
The Central Board of Direct Taxes (CBDT) has entered into 62 Advance Pricing Agreements (APA) in FY 2021-22 with Indian taxpayers. This includes 13 Bilateral...
GST record collection in the month of March 2022 breaching earlier record
The gross GST revenue collected in the month of March 2022 is ₹ 1,42,095 crore of which CGST is ₹ 25,830 crore, SGST is ₹ 32,378 crore, IGST is ₹...
Non applicability of TCS on foreign remittance by Non residents
The Central Board of Direct Taxes (CBDT) have issued the Notification No. 20/2022 in which it has been stated that the provisions of section 206C(1G)...
Extension of time limit for electronic filing of Form No. 10AB for seeking registration or approval under section 10(23C), 12A or 80G of Income Tax Act
The Central Board of Direct Taxes (CBDT) has extended the due date of filing the electronic form no. 10AB for seeking registration or approval under...
MCA defers the implementation of Audit Trail and extends the due date of filing Form CSR 2
Ministry of Corporate Affairs (MCA) has deferred the implementation of Audit Trail from 01-04-2022 till 01-04-2023 and has also extended the filing of Form CSR...
CBDT notifies ITR Forms for AY 2022-23 [ITR 1 to ITR 7]
The Central Board of Direct Taxes (CBDT) has notified the ITR Forms for AY 2022-23. It is pertinent to note that forms for ITR 1...
Payment of late fee for PAN AADHAR linking if done after due date
The Central Board of Direct Taxes (CBDT) has issued the Notification No. 17/2022 on 29th March 2022 in which it has been notified that those...
The President of India assented the Finance Act 2022
The President of India has assented the Finance Act 2022 on 30-03-2022. To view and download the Finance Act 2022, click here...
Analysis of Standard Operating Procedures for scrutiny of GST returns for FY 2017-18 and FY 2018-19
On 22nd March 2022, Central Board of Indirect Taxes and Customs (CBIC) has issued the Standard Operating Procedures for scrutiny of returns for FY 2017-18...
CBIC issued Instructions for scrutiny of returns for FY 2017-18 and FY 2018-19
Central Board of Indirect Taxes & Customs (CBIC) has issued the Instructions for the scrutiny of returns filed for the FY 2017-18 and FY 2018-19...
Applicability of E-Invoicing for Taxable persons having Turnover of more than Rs. 20 Crores
Central Board of Indirect Taxes and Customs (CBIC) has issued the Notification No. 1/2022 dated 24th February 2022 in which it has been specified that...
Circular 4 of 2022 – TDS on Salary
Central Board of Direct Taxes (CBDT) has issued the Circular no. 04/2022 dated 15-03-2022 in which the procedure for deducting the TDS on the salaries...
Major relief to LLPs by reducing the Late fee
In a welcoming step by the Ministry of Corporate Affairs (MCA), it has been notified to reduce the additional fee in case of filing of...
Seperate LLP filing platform on MCA website
On 1st February 2022, the Ministry of Corporate Affairs (MCA) has announced that there will be a seperate filing platform for LLPs. In the announcement,...
Section 194R – TDS on benefits or perquisite of business or profession
In the Finance Bill 2022, a new TDS section 194R has been proposed with respect to TDS on benefit or perquisite of a business or...
Taxability of Virtual Digital Assets in Finance Bill 2022
In the Finance Bill 2022, the much-needed question has been answered regarding the Crypto currency and other virtual assets shall be allowed to be traded...
Finance Bill 2022 along with Memorandum explaining Finance Bill 2022
To download the Finance Bill 2022 and memorandum explaining the Finance Bill 2022, click here Finance Bill 2022 Memorandum explaining Finance Bill 2022...
ICAI makes FRN filed mandatory for UDIN generation
With effect from 1st February 2022, the ICAI has made it mandatory for the Members to enter FRN while generating the UDIN. In case the...
CBDT extends last date for updating UDINs for all IT forms at e-filing portal to 30.04.2022
CBDT has extended the last date for updating the last date for updating UDINs for all the IT forms at the e-filing portal till 30th...
CBDT notifies rule to compute capital gain on sum received under a specified Unit Linked Insurance Policy
The CBDT has notified the Rules for computing the capital gain on sum received under a specified Unit Linked Insurance Plan by inserting Rule 8AD...
CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961
On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the...
Relaxation on levy of additional fee in filing of e-forms AOC-4, AOC-4 (CFS), AOC-4 (XBRL) and MGT-7 / 7A for FY 2020-21
On 29th December 2021, the Ministry of Corporate Affairs (MCA) has issued the General Circular No. 22/2021 for relaxation of additional fee in filing of...
Extension of last date for complying with the mandatory CPE hours’ requirements for the Calendar Year 2021 either in physical/offline mode or in virtual mode through VCM/DLH – from 31st December, 2021 to 28th February, 2022
Dear Member, In view of impact of Covid-19 across the world and the difficulties faced by Members for completing their mandatory CPE hours’ requirements during...