Ministry of Finance issues revised guidelines for compounding of offence under the Income -Tax Act, 1961
On 16-9-2022 the CBDT has issued revised guidelines for compounding of offence under the Income-Tax Act, 1961 to simplify and
Ministry of Finance
New Form ITR-A for successor entities to furnish their return of income, notified vide Income-tax (31st Amendment) Rules, 2022
On 19-09-2022, the Ministry of Finance has notified the Income-tax (31st Amendment) Rules, 2022 in order to amend Income-Tax Rules 1962 which
CBDT notifies submission of COVID-19 related documents by the employees to the employer
The Central Government has notified submission of following documents by the employees to the employer: COVID-19 positive report of the employee or
Ministry of Finance notifies 7.1% rate of interest under the special deposit scheme
On 14-07-2022, the Ministry of Finance has notified that the deposits made under the Special Deposit Scheme for Non-Government Provident, Superannuation and
Application u/s 158AB to defer filing of appeal before Tribunal or jurisdictional High Court introduced vide Income-tax (Twenty Second Amendment) Rules, 2022
The Central Board of Direct Taxes notifies Income-tax (Twenty Second Amendment) Rules, 2022 to amend the Income-tax Rules, 1962. The amendment introduces
Bullion exchange units will now be deemed IFSCs vide Special Economic Zones (Second Amendment) Rules, 2022
On 6th July, 2022, Central Government passed Special Economic Zones (Second Amendment) Rules, 2022. It will be coming into force with immediate
Courier Imports and Exports (Electronic Declaration and Processing), Amendment, Regulations, 2021
The Ministry of Finance has notified the Courier Imports and Exports (Electronic Declaration and Processing), Amendment, Regulations, 2021 to further amend the
Ministry notifies Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2021
The Ministry of Finance has notified the Foreign Exchange Management (Non-debt Instruments) (Fourth Amendment) Rules, 2021 to further amend the Foreign Exchange
Central Goods and Services Tax (Eighth Amendment) Rules, 2021
On September 24, 2021, the Central Government on the recommendations of the Council, makes the Central Goods and Services Tax (Eighth Amendment)
No TDS under section 194A on interest payment to a member of scheduled tribe of specified areas under section 10(26) of IT Act
On September 17, 2021, the Central Board of Direct Taxes (CBDT) has issued a notification that no deduction of tax shall be
Extension of timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
On September 17, 2021, the Central Government extends timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act,
Income tax (28th Amendment) Rules, 2021
The Ministry of Finance has issued the Income tax (28th Amendment) Rules, 2021 on September 10, 2021, to further amend the Income-tax
CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed Assets
Taking another step towards e-governance and encouraging participation of citizen as stakeholders in curbing tax evasion, the Central Board of Direct Taxes
Centre notifies “Real Estate Agents” with annual turnover of Rs 20 lakhs or above as “persons carrying on designated businesses or professions” under PMLA, 2002; Rescinds earlier notification
In exercise of the powers conferred by sub-clause (iv) of clause (sa) of sub-section (1) of section 2 of the Prevention of
Ministry of Finance | Factual position in respect to Service Charges levied by banks
There have been several media reports alluding to steep increase in service charges by certain Public Sector Banks (PSBs). In this context,
Extension of due dates for Annual Return and Reconciliation Statement for 2018-19
The Government has been receiving a number of representations regarding the need to extend due date for filing Annual Return (FORM GSTR-9)
Extension of due date of furnishing of Income Tax Returns and Audit Reports
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the
Search & Seizure action carried out by Income tax Department in a case of a leading Advocate
The Income Tax Department has carried out a search and seizure action on 14-10-2020 in the case of a leading advocate practicing
Finance Minister announces measures of Rs 73,000 crore to stimulate consumer spending in economy to fight slow down due to COVID-19
The proposals presented today by the Finance Minister are designed to stimulate spending in a fiscally prudent manner as some of the
Income Tax Department conducts search on premises of Chinese entities
IT Department conducts serach on Chinese Entities premises Based on the credible information that few Chinese individuals and their Indian associates were