CBDT relaxes filing of Form 15CA / CB
As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered...
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Guidelines for compulsory selection of Returns for complete scrutiny for FY 2021-22
The CBDT has issued the Guidelines for compulsory selection of returns for complete scrutiny for FY 2021-22. The cases which are to be selected for...
CBDT notifies New TDS rules to amend Rule 31A
The Central Board of Direct Taxes (CBDT) has notified the changes in Rule 31A and updated the annexures of Form 26Q, 27EQ, 27Q on 8-6-21...
AGILE PRO will be AGILE PRO S from 7th June onwards
On 7th June 2021, the MCA has notified the Companies (Incorporation) Fourth Amendment Rules 2021 in which the AGILE PRO form has been changed to...
Notification No. 03/2021 – Central Tax (Rate) – Time of payment of GST by the Real Estate Developers
To give effect to the recommendations of 43rd GST Council meeting, the CBIC has issued the Notification No. 03/2021 – Central Tax (Rate) in which...
Notification No. 02/2021 – Central Tax (Rate) – Allowing utilisation of ITC by Landowner promoter and change in GST rate of Maintenance, Repair and Overhaul services of ships and vessels
The CBIC has issued the Notification No. 02/2021 – Central Tax (rate) in which the following changes have been issued:- a. Allowing the Landowner promoter...
Notification No. 01/2021 – Central Tax (Rate) – Change in the GST rate of HSN 9503 and Diethylcarbamazine
The CBIC on 2nd June 2021 has notified the reduction in the rates of the followng from 12% to 5%. a. HSN 9503 – Toys...
CBDT issues instructions for filing Income tax forms for FY 2020-21
The CBDT has issued the instructions for filing the Income tax returns for FY 2020-21. To view and download the Instructions click here https://www.incometaxindia.gov.in/Pages/downloads/income-tax-return.aspx ...
Retrospective amendment to Section 50 notified on 01-06-2021
In the 43rd GST Council Meeting, the GST Council has recommended for the retrospective amendment to Section 50 so as to the levy of interest...
Anyalysis of Recommendations of 43rd GST Council Meeting
Amnesty scheme to provide relief to taxpayers regarding late fee for pending returns For furnishing the Form GSTR 3b for the period July 2017 to...
Recommendations of 43rd GST Council Meeting held on 28th May 2021
The 43rd GST Council Meeting has held on 28th May 2021 in which major decisions regarding GST amnesty scheme, rationalisation of GST late fee and...
Various Income Tax Dates extended due to severe pandemic
The Central Board of Direct Taxes, on 20th May 2021, vide Circular No. 09/2021 has extended the time limits of various compliances which are as...
Gap between 2 Board Meetings under Section 173 of the Companies Act 2013
The Ministry of Corporate Affairs has increased the time limit of 120 days between 2 Board meetings to 180 days. To view and download the...
Relaxation of time for filing forms related to creation or modification of charges under the Companies Act 2013
The Ministry of Corporate Affairs has issued the General Circular No. 07/2021. In the said circular, the said relaxation has been given with respect to...
Relaxation on levy of additional fee in filing of certain forms under Companies Act and LLP Act
The Ministry of Corporate Affairs (MCA) has issued the General Circular No. 06/2021 dated 03rd May 2021. In view of the COVID 19 pandemic, it...
Extension of compliances falling between 15-04-2021 to 30-05-2021 till 31-05-2021
Vide Notification No. 14/2021-Central Tax dated 1st May 2021, the effective date of the Notification being 15th April 2021, the various compliances have been extended...
Relaxation of Norms for Rule 36(4) for April and May 2021 and extension of date of furnishing of IFF for April 2021
Vide Notification No. 13/2021-Central Tax dated 1st May 2021, the CBIC has provide the following relaxations:- a. With respect to Rule 36(4), the provision shall...
Extension of due date of furnishing GSTR 1 for April 2021
Vide Notification no. 12/2021 – Central Tax dated 1st May 2021, the CBIC has extended the due date for furnishing Form GSTR 1 for the...
Extension of due date of filing Form ITC 04 for the period January – March 2021
Vide Notification No. 11/2021 – Central Tax dated 1st May 2021, the CBIC has extended the due date for filing the Form ITC 04 from...
Extension of due date of GSTR 4 for Quarter ending 31st March 2021
The CBIC has extended the due date of filing Form GSTR 4 for the Quarter ending March 2021 till 31st May 2021 vide Notification No....
Waiver of late fee on filing GSTR 3B
The CBIC, on 1st May 2021, has notified the waiver of the late fee in respect of filing of the GSTR 3B by the Registered...
Relaxation in Interest Rates for GSTR 3B of Tax periods of March 2021 and April 2021
The Central Board of Indirect Taxes and Customs (CBIC) has lowered the Interest rate under section 50 applicable on various taxpayers for the GST to...
EXTENSIONS OF DUE DATES UNDER INCOME TAX
Vide Circular No. 8/2021 dated 1st May 2021, the Income tax department has extended the various due dates which are falling due on either 1st...
CBDT notifies changes in Tax Audit Report for AY 2021-22
The Central Board of Direct Taxes (CBDT) has notified the following changes in the Form 3CD and inserted a sub rule which are as follows:-...
SECTION 194P – Deduction of Tax in case of certain Senior Citizens
In the Finance Act 2021, a new section 194P has been inserted which deals with the deduction of tax in case of certain senior citizens....