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Ministry of Finance

Legislation UpdatesRules & Regulations

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

Published on October 14, 2021October 14, 2021By Editor
Leave a comment2831 views
Legislation UpdatesRules & Regulations

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)

Published on September 27, 2021September 27, 2021By Bhumika Indulia
Leave a comment1771 views
CBDT
Legislation UpdatesNotifications

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

Published on September 21, 2021By Bhumika Indulia
Leave a comment2062 views
Legislation UpdatesNotifications

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,

Published on September 18, 2021September 18, 2021By Bhumika Indulia
Leave a comment4464 views
Legislation UpdatesRules & Regulations

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

Published on September 13, 2021September 13, 2021By Editor
Leave a comment2165 views
Hot Off The PressNews

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

Published on January 13, 2021January 13, 2021By Bhumika Indulia
1 Comment1800 views
Legislation UpdatesNotifications

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

Published on December 29, 2020December 29, 2020By Bhumika Indulia
1 Comment4267 views
Hot Off The PressNews

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,

Published on November 3, 2020November 3, 2020By Bhumika Indulia
1 Comment1867 views
Legislation UpdatesNotifications

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)

Published on October 24, 2020October 24, 2020By Bhumika Indulia
Leave a comment1837 views
Legislation UpdatesNotifications

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

Published on October 24, 2020October 24, 2020By Bhumika Indulia
Leave a comment2652 views
Hot Off The PressNews

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

Published on October 16, 2020October 16, 2020By Bhumika Indulia
4 Comments3495 views
Hot Off The PressNews

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

Published on October 12, 2020October 3, 2023By Bhumika Indulia
Leave a comment2065 views
Hot Off The PressNews

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

Published on August 12, 2020August 12, 2020By Bhumika Indulia
Leave a comment1579 views
Business NewsNewsTreaties/Conventions/International Agreements

CBIC & CBDT sign MoU to facilitate smoother bilateral exchange of data

A Memorandum of Understanding (MoU) was signed between the Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and

Published on July 21, 2020July 21, 2020By Bhumika Indulia
Leave a comment2886 views
NewsTreaties/Conventions/International Agreements

Memorandum of Understanding signed between CBDT and SEBI for data exchange

A formal Memorandum of Understanding (MoU) was signed today between the Central Board of Direct Taxes (CBDT) and the Securities and Exchange

Published on July 9, 2020July 9, 2020By Bhumika Indulia
Leave a comment2652 views
Legislation UpdatesNotifications

New procedure for registration, approval, etc. of certain entities deferred to 1st October, 2020

In view of the unprecedented humanitarian and economic crisis, the CBDT has decided that the implementation of new procedure for approval/ registration/notification

Published on May 9, 2020May 9, 2020By Bhumika Indulia
Leave a comment1783 views
Legislation UpdatesNotifications

Provisions of Finance Act, 2019 amending Indian Stamp Act to come into force from 1-07-2020

S.O. 1226(E).—In exercise of the powers conferred by section 11 of the Finance Act, 2019 (7 of 2019), the Central Government hereby

Published on March 30, 2020March 30, 2020By Bhumika Indulia
1 Comment5911 views
Legislation UpdatesNotifications

Ministry of Finance | Aadhaar-PAN linking date extended to 31-12-2019 from 30-09-2019

Ministry of Finance has extended the deadline for linking of the PAN-Aadhaar from 30-09-2019 to 31-12-2019. Official Notification states as follows: In

Published on September 30, 2019October 1, 2019By Bhumika Indulia
Leave a comment2345 views
Legislation UpdatesNotifications

CBDT | Centre notifies the E-assessment Scheme, 2019

S.O. 3264(E).– In exercise of the powers conferred by sub-section (3A) of Section 143 of the Income-tax Act, 1961 (43 of 1961),

Published on September 13, 2019September 13, 2019By Bhumika Indulia
1 Comment2540 views
Hot Off The PressNews

Draft Bill ‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’

Government had constituted an Inter-Ministerial Committee (IMC) on 02-11-2017 under the Chairmanship of Secy (EA), with Secy (MeiTY), Chairman (SEBI) and Dy.

Published on July 22, 2019July 22, 2019By Bhumika Indulia
2 Comments3755 views

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