New IT Rule 114(5A): PAN-Aadhaar Linking delay Penalty
CBDT has notified the Income-tax (Third Amendment) Rules, 2022 to insert new IT Rule 114(5A) to impose penalty on delay/ default in PAN-Aadhaar Linking applicable w.e.f. 01/04/2022, i.e. a …
Category: Updates
ICAI Post Budget 2022 Memorandum on Direct/ Indirect Tax Proposals
ICAI has submitted it’s ‘Post Budget Memorandum 2022’ containing various detailed suggestions on the Direct/ Indirect Tax proposals (including on International Taxation) of Budget 2022 for the Financial Year …
RBI Master Directions/ Regulatory Framework 2022 for Microfinance Loans
RBI has released Master Directions/ Regulatory Framework 2022 in respect of Microfinance Loans, after necessary review and inviting public suggestions/ comments, i.e. the Reserve Bank of India (Regulatory Framework …
MCA Extends Due Dates for e-forms AOC-4/ 4(CFS)/ 4(XBRL), 4(Non-XBRL), MGT-7/ 7A
MCA has further extended the due dates for filing of e-forms AOC-4/ 4(CFS)/ 4(XBRL), 4(Non-XBRL) upto 15/03/2022 and for filing of e-forms MGT-7/ 7A upto 31/03/2022, without payment of …
Companies (Accounts) Amendment Rules 2022 (CSR-2): MCA Notification
MCA notifies the Companies (Accounts) Amendment Rules 2022, applicable w.e.f. 11/02/2022, to insert a rule 12(1B), which provides for a new requirement from financial year (FY) 2020-21 and onwards, …
Don’t make Forex Transactions with ETPs not Authorised under FEMA: RBI
RBI has cautioned the general public/ residents to not to make forex transactions with Unauthorized Electronic Trading Platforms (ETPs) offering forex trading/ investments schemes with exorbitant returns, to avoid …
Summary of Direct/ Indirect Tax Proposals of Union Budget 2022-23
The Union Budget 2022-23, while continuing with the declared policy of stable and predictable tax regime, intends to bring more reforms that will take ahead the vision to establish …
Amendments in IT Provision on Exemption Schemes for Charitable Trust/ Institutions
Proposed amendments for rationalisation of IT Provision on Exemption Schemes for Charitable Trust/ Institutions, vide different clauses of the Finance Bill 2022 (budget 2022-23): 1. Income of any fund …
No Exemption under IT S. 10(8), (8A), (8B) and (9) from AY 2023-24
Amendments proposed for withdrawal of exemption under clauses (8), (8A), (8B) and (9) of section 10 of the Income-tax Act, 1961 from AY 2023-24 and onwards, vide Clause 4 of …
Amendment in S. 248/ New S. 239A to allow TDS Refund application before AO
Amendment proposed in the provisions of section 248 of Income-tax Act and insertion of new section 239A, vide Clauses 66, 68 and 69 of the Finance Bill 2022 (budget …