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Reduction of time limit for verification of Income Tax Return (ITR)
with effect from August 1, 2022 The CBDT vide Circular 3/2009 dated 21.05.2009 notified the new Income Tax Return (ITR) forms for Assessment Year 2009-10 and provided the facility of furnishing ITR wh...
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Need for a new legal framework governing Telecommunication in India
Telecommunication has the potential to unleash the true power of India’s economy, accelerate socio-economic transformation and enable achievement of the vision of an “Aatma Nirbhar Bharat”. Telecommun...
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ICAI President’s Message – August 2022
My Dear Professional Colleagues, Ya Esa Suptesu Jagarti. The Motto of our Institute which has been adopted from the Kathopnishad means “that person who is awake in those that sleep”. Similar to the Bh...
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Impact of GST on Agricultural/ Cloth/ Footwear Items
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO. 1349 TO BE ANSWERED ON MONDAY, JULY 25TH 2022 IMPACT OF GST ON AGRICULTURAL/ CLOTH/ FOOTWEAR ITEMS 1349....
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GST on Milk and Milk Products
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA STARRED QUESTION NO. *111 TO BE ANSWERED ON MONDAY JULY 25TH 2022 GST ON MILK AND MILK PRODUCTS *111. ADV. DEAN KURIAKOSE Will t...
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GST on pre-packaged & labelled food items applies to curd, buttermilk etc.
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO.1209 TO BE ANSWERED ON MONDAY, JULY 25TH 2022 GST ON UNBRANDED FOOD ITEMS 1209. SHRI V.K.SREEKANDAN: Will...
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No recommendation to reduce GST on health care insurance policies
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO.1190 TO BE ANSWERED ON MONDAY, JULY 25TH 2022 GST ON HEALTH INSURANCE 1190. DR. KALANIDHI VEERASWAMY: Will...
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No plan to reduce GST on educational material like pencil, eraser, pen etc.
No plan to reduce GST on educational material like pencil, eraser, pen, notebooks etc; GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO.135 TO BE ANSWERED...
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e-Way bill for intra-state movement of gold & precious stones- States can decide
Government of India Ministry of Finance Department of Revenue LOK SABHA UN-STARRED QUESTION NO. 77 TO BE ANSWERED ON MONDAY, JULY 18, 2022 Ashadha 27, 1944 (Saka) GOLD SMUGGLING AND TAX EVASION CASES...
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ASK Centers throughout India shall remain open on 31st July 2022
F. No. 225/125/2022-ITA.II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 30th July, 2022 Order under Section 119(1) of the Inc...
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No Question of relaxing PAN-Aadhaar linking NORMS: Govt
GOVERNMENT OF INDIA MINISTRY OF FINANCE LOK SABHA UNSTARRED QUESTION No. 1266 TO BE ANSWERED ON MONDAY, JULY 25, 2022 PAN-AADHAAR LINKING 1266. SHRIMATI NUSRAT JAHAN RUHI: Will the Minister of FINANCE...
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Transfer of ownership of Crypto and NFTs is legally enforceable
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UNSTARRED QUESTION NO.1207 TO BE ANSWERED ON 25.07.2022 Crypto and NFTs 1207: DR. PRITAM GOPINATHRAO MUNDE: SHRI CHANDR...
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Representation In Respect to Due Date for Filing Income Tax Returns
Bikaner Tax Consultants Association has made a representation to Union Minister of Finance, Chairman, Central Board of Direct Taxes and Revenue Secretary, Government of India on 29.07.2022 for extensi...
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Income Tax Department searches two business groups in Tamil Nadu
Income Tax Department conducts searches in Tamil Nadu Income Tax Department carried out a search and seizure operation on 20.07.2022 on two business groups; one engaged in real estate, and the other i...
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Government measures resulted in increased FDI inflows
India received highest ever FDI inflow of INR 6,31,050 crores in FY 2021-22 FDI Equity inflow in Manufacturing sectors increased to INR 1,58,332 crore in FY 21-22 from INR 89,766 crore (FY 2020-21) Th...
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Government’s Efforts to Increase Export of Steel
The Government has taken following measures for increasing investment and export in the Steel sector: – i. Notification of :- a. National Steel Policy 2017 which envisages, inter-alia, domestically me...
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ECGC introduces new scheme providing enhanced export credit risk insurance
cover up to 90% for small exporters ECGC has introduced a new scheme to provide enhanced export credit risk insurance cover to the extent of 90% to support small exporters under the Export Credit Insu...
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Procedure of PAN application & allotment through Form FiLLiP for LLPs
Procedure of PAN application & allotment through Simplified Proforma for incorporating Limited Liability Partnerships (LLPs) electronically {Form: FiLLiP} of Ministry of Corporate Affairs F. No. DGIT(...
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Request for Extension of date of normal return of income Tax till 31st August
Marudhara Tax Bar Association (Western Rajasthan) Address: Shri Vijay Tower, Manji ka Hatha, Paota, Jodhpur Tel: 0291-2556840; Mob./Whatsapp No.: 93144-20004; 91441-28665 Dated: 28.7.2022 Shri Nitin G...
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ECGC introduces new scheme providing enhanced export credit risk insurance
cover up to 90% for small exporters ECGC has introduced a new scheme to provide enhanced export credit risk insurance cover to the extent of 90% to support small exporters under the Export Credit Insu...