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Govt designates Special Courts in Chhattisgarh under Black Money Act
Govt designates all the Chief Judicial Magistrate Courts of the State of Chhattisgarh as Special Courts for the purposes of section 280A of the Income-tax Act, 1961 and section 84 of the Black Money (...
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CBDT amends rule 17CB to replace words ‘trust or institution’ with ‘specified person’
vide Notification No. 101/2022-Income Tax | Dated: 22nd August, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 101/2022-Income Tax | Dated: 22nd Augu...
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Mandatory E-Filing of Form 10F – Needs Reconsideration
Bombay Chartered Accountants society To, The Chairman, Central Board of Direct Taxes (CBDT) Ministry of Finance, Govt. of India New Delhi. Respected Sir, SUB: MANDATORY E-FILING OF FORM 10F – NEEDS RE...
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Representation on RCM on Residential Property, GTA Declaration & GST Appeal
Maharashtra Tax Practitioners’ Association has made a representation on Confusion related to Levy of GST under RCM on Residential Property, Rejection of Appeal for non-submission of Certified copy of...
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CGST Navi Mumbai arrests one for availing & passing on fake ITC
On 18th August 2022, the Proprietor/mastermind handling the business activities of M/s Mass Steel Traders (GSTIN:27BONPS7020E1ZS), M/s S.K. Enterprises (GSTIN:27DBKPK2919Q1Z1), M/s M K Traders (GSTIN:...
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CGST Bhiwandi arrests 2 persons for bogus invoices of Rs. 55 crore
CGST Bhiwandi Commissionerate arrests two persons for availing and passing on fake ITC on bogus invoices of Rs. 55 crore Officers of CGST Bhiwandi Commissionerate in Mumbai Zone have busted two separa...
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FTAs with developed world an important agenda of Modi government
Ministry of Textiles Free trade agreements (FTAs) with the developed world an important agenda of Modi government: Shri Goyal Textile Industry has a big role in making FTAs a success: Shri Piyush Goya...
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CBDT amends rule 128 & relaxes conditions for filing of form no. 67
CBDT amends rule 128 and relaxes conditions for filing of form no. 67 for claiming Foreign Tax Credit vide Notification No. 100/2022-Income Tax. CBDT amends Rule 128 of the Income-tax Rules, 1962, pro...
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Guidance Note on Tax Audit under Section 44AB
of the Income-tax Act, 1961 AY 2022-23 (Effective for the AY 2022-23 and subject to amendments made by law, judiciary or administration, for the subsequent assessment years) Tax Audit is applicable si...
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CS Professional / Executive Programme Exam result on 25.08.2022
Declaration of Result of CS Professional Programme and Executive Programme Examinations – June, 2022 SessionRESULT ANNOUNCEMENTResult of CS Professional Programme and Executive Programme Examinations,...
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5 new Functionality for Tax Payers in GST Portal wef 16.08.2022
GSTNB enables Functionality for Tax Payers in GST Portal wef 16.08.2022 related to CORE Amendment Link For Taxpayers who fail To Update Bank account, Changes in HSN length validation in Form GSTR-1, H...
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Non residents having no PE in India exempted from section 206C(1G) TCS
CBDT notifies that provisions of Section 206C (1G) of Income Tax Act shall not apply to a person (being a buyer) who is a non-resident in terms of section 6 and who does not have a permanent establish...
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CBDT notifies Income Tax Rule 40G Refund claim under section 239A
and Form No. 29D – Application by a person under section 239A of the Income-tax Act, 1961 for refund of tax deducted vide Notification No. 98/2022-Income Tax | Dated: 17th August, 2022.MINISTRY OF FIN...
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CBDT notifies CPPIB India Private Holdings Inc. as pension fund – section 10(23FE)
CBDT notifies CPPIB India Private Holdings Inc. as pension fund under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 vide Notification No...
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Representation to scrap Clause No. 44 of Tax Audit Report (Form 3CD)
Representation requesting to scrap Clause No. 44 of Tax Audit Report (Form 3CD) under the Income Tax Act, 1961Smt. Nirmala SitharamanHon’ble Finance Minister,Ministry of Finance, Government of IndiaNe...
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Instructions for AO after Adverse observations of Allahabad HC
Income Tax Department Issues Instructions for Assessing Officers after Adverse Observations of Hon. Allahabad High Court in in Civil Misc. Writ Petition (Tax) No. 723 of 2022 in the case of S.R. Cold...
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CBDT amends Income Tax Rule 17 and FORM No.10
CBDT vide Notification No. 96/2022-Income Tax | Dated: 17th August, 2022 amends Income Tax Rule 17. Exercise of option etc. under Explanation 3 to the third proviso to clause (23C) of section 10 or se...
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Section 10(23FE) – CBDT notifies ‘INQ Holding LLC’ as sovereign wealth fund
vide Notification No. 95/2022-Income Tax | Dated: 16th August, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 95/2022-Income Tax | Dated: 1...
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Analysis of Companies (Accounts) Fourth Amendment Rules, 2022
Corporate Laws & Corporate Governance Committee The Institute of Chartered Accountants of India 16th August, 2022 ANNOUNCEMENT Sub: Amendment in the Companies (Accounts) Rules, 2014 relating to availa...
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MCA advisory on Business User Registration on MCA21 V3 system
You may be aware that the Ministry of Corporate Affairs is going live with MCA21 V3 system with 09 Company e-forms* on 31 August 2022 at 12:00 AM. In view of the same, filings for the said 09 e-forms...