Govt. Clarification on Premature Closure due to death of SCSS Account holder
Government has clarified certain concerns, relating to the premature closure of SCSS Accounts by banks/post offices, upon death of the SCSS Account holder(s).
Category: Updates
New IT Rule 132 on Application for Re-computation of Income u/s 155(18): CBDT Income Tax Notification 111/2022
New IT Rule 132 on “Application for Re-computation of Income under Sub-section (18) of Section 155” has been inserted by CBDT, along with new IT Forms 69 and 70, …
Commencement Date of Certain Sections of CGST Act 2017 amended by FA 2022: CBIC Central Tax Notification 18/2022
CBIC notifies the commencement date of certain sections of the CGST Act 2017 amended by the Finance Act 2022 as 01/10/2022. Accordingly, the provisions of Sections 100 to 114, …
MCA Extends Due Date for DIR 3 KYC of Directors (Web) FY 2021-22: General Circular 9/2022
MCA has extended the deadline for filing Form DIR-3 KYC (including DIR-3 KYC Web) in respect of Financial Year (FY) 2021-22 from 30/09/2022 to 15/10/2022 without payment of fee, …
CBDT Extends Timeline for ITR Filing by Successor Companies u/s 170A
CBDT extends timeline for filing of modified Income Tax Return (ITR) in Form ITR-A by a successor company u/s 170A from 30/09/2022 to 31/03/2023 in certain cases, where the order …
New IT Rule 12AD/ Form ITR-A for Return u/s 170A and Amendment in Form ITR-6: CBDT Income Tax Notification 110/2022
The CBDT notifies the Income-tax (31st Amendment) Rules, 2022, to insert a new IT Rule 12AD/ Form ITR-A regarding the filing of a Return of Income by a Successor …
CBDT’s Revised Guidelines on Compounding of Offences under Income Tax Act, 1961
CBDT has issued revised Guidelines on Compounding of Offences under the Income Tax Act, 1961, in supersession of the earlier Guidelines on the subject issued in 2019, to simplify …
Small Companies Thresholds further increased by MCA (Paid-up Capital/ Turnover)
As part of the ‘ease of doing business’ initiative, MCA has revised/increased the ‘paid-up capital’ and ‘turnover’ thresholds applicable in the case of ‘small companies’ under the Companies Act, …
CBDT Guidelines/ FAQs on TDS u/s 194R on Provision of Benefits/ Perquisites
To help stakeholders who are experiencing problems with TDS under Section 194R(2) on the provision of Benefits/Perquisites, CBDT has released guidelines and frequently asked questions (FAQs). With regard to …
CBIC guidelines on filing/revision of GST TRAN-1/TRAN-2: GST Circular 180/12/2022
CBIC has issued guidelines for aggrieved registered persons (taxpayers/assessees) in relation to filing/revision of GST TRAN-1/TRAN-2 to claim transitional credit, vide GST Circular 180/12/2022, in light of the Orders …