Section 2(47A) Income-tax: Virtual Digital Asset (VDA) – Meaning
As per Section 2(47A) of Income Tax Act, 1961, unless the context otherwise requires, the term “Virtual Digital Asset (VDA)” means,- (a) any information or code or number or …
Section 2(22) Income Tax: Dividend – Meaning
As per S. 2(22) of the Income Tax Act, 1961, unless the context otherwise requires, the term “dividend” includes- (a) any distribution by a company of accumulated profits, whether capitalised …
List of ‘Standards on Internal Audit (SIA)’ issued by ICAI
ICAI’s Standards on Internal Audit (SIA) are comprehensive and address all aspects of the internal audit function. They are essential reading for all those with an interest in the …
CBDT notifies New ITR Forms for AY 2022-23 (ITR 1 Sahaj, 2, 3, 4 Sugam, 5, 6, 7)
CBDT has notified the new ITR Forms applicable for AY 2022-23 (Forms ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 and ITR-7), without making any significant changes therein as …
MCA defers timelines for Audit Trail Requirement/ CSR-2 Filing
MCA has notified the Companies (Accounts) Second Amendment Rules, 2022 to further defer the date of applicability for the requirement relating to Audit Trail feature in the Accounting Software …
Marginal Relief from Surcharge on Income Tax: AY 2022-23
For AY 2022–23, assessees can claim marginal relief from the surcharge on income tax to mitigate the effect of the additional tax burden that is over and above the …
CBDT further extends Due Date for e-filing of Form 10AB to 30/09/2022
CBDT further extends last date for e-filing of Form No. 10AB to 30/09/2022, in all the cases for which the last date is on or before 29/09/2022, in view …
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 …
MCA’s Companies IND AS Rules 2015 with Amendments upto 2022
MCA notifies the “Companies Indian Accounting Standards (Ind AS) Rules 2015”, i.e. the convergent Indian Accounting Standards.
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 …