ICAI’s Technical Guide on ‘Virtual ITAT Proceedings’
Income Tax is a very dynamic and fast changing subject, i.e. subject to continuous amendments. In addition, technology is being adopted for execution of various income tax procedures, like …
Category: Updates
ICAI’s Technical Guide on ‘Faceless Appeal Proceedings before CIT (A)’ with FAQs
New faceless regime being technology driven is prone to certain challenges and hence the ICAI has released the publication titled ‘Technical Guide on Faceless Appeal Proceedings before CIT (Appeals)’ …
ICAI’s Technical Guide on ‘Income Tax on Reconstitution of Firms/ AOP/ BOI’
ICAI has released the publication titled ‘Technical Guide on Income Tax on Reconstitution of Firms’ for Members, in view of the amendments made by the Finance Act, 2021 in …
CBDT clarifies ‘Specified Bank’ u/s 194P (Senior Citizens TDS: ITR Filing Exemption)
CBDT clarifies the term ‘Specified Bank’ for the purpose of TDS u/s 194P in the case of Specified Senior Citizens (of age 75 or more having pension/ interest income …
Central Govt. constitutes IT ‘Boards for Advance Rulings’ u/s 245-OB
Central Govt. constitutes IT ‘Boards for Advance Rulings’ u/s 245-OB with headquarters at Delhi and Mumbai, for the purposes of giving advance rulings under Chapter XIX-B of the Income …
Certain IT AAR provisions to commence from 01/09/2021: CBDT Notification 97/2021
CBDT notifies 01/09/2021 as the commencement date of certain provisions relating to Authority for Advance Ruling (AAR) under the Income Tax Act, 1961, vide Notification 97/2021 dt. 01/09/2021, i.e. …
New IT Rule 9D on ‘Taxability of interest on PF contributions above Rs. 2.5 lac’: CBDT Notification 95/2021
In line with amendments in IT Section 10(11) and 10(12) made by the Finance Act 2021, CBDT notifies the Income-tax (25th Amendment) Rules, 2021 applicable w.e.f. 01/04/2022, vide Notification …
GSTR 3B Late Fee Amnesty Scheme: CBIC Extends Last Date upto 30/11/2021
CBIC has further extended last date to avail benefit of the ‘GSTR-3B late fee Amnesty Scheme’ from 31/08/2021 to 30/11/2021 (i.e. relief for taxpayers by way of reduction/ waiver …
CBDT Extends Timeline for E Filing of Various IT Forms Again
CBDT again extends the due dates for e-filing of various Forms under the Income Tax Act, 1961, in view of difficulties being reported by the taxpayers and other stakeholders …
GSTN Advisory on HSN Code in Tax Invoice and Errors in GSTR 1 Filing
GSTN has issued an Advisory on the requirement of mention of specified number of Digits of HSN Code in the Tax Invoice and errors being faced while filing GSTR …