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Cabinet approves Auction of IMT/5G Spectrum
Measures to reduce cost of doing business for Telecom Service Providers 5G services to be rolled out soon – about 10 times faster than 4G Over 72 GHz of Spectrum to be auctioned for a period of 20 yea...
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Taxpayer advised to check if availing ITC as per law while filing GSTR2B
Goods and Services Tax Availing ITC as per law and GSTR2B 18/06/2022 For some of the taxpayers, there was an issue in relation to duplicate entries in GSTR2B which has since been fixed and correct GST...
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Safe Harbour rules for AY 2022-2023 – Income tax Act, 1961
Safe Harbour rules for AY 2022 2023 | Income tax Act, 1961 | Notification No. 66/2022-Income-Tax | Dated: 17th June, 2022 | CBDT amends Rule 10TD of Income Tax Rules, 1962 and extended applicability o...
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Income Tax Department conducts searches in J&K and Delhi
Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading manufacturer and seller of Jamawar Shawls, Pashmina and Kashmiri Shawls. The search operation covered more th...
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UDIN for Audit Forms/Certificates can be updated till 30.06.2022
As you are aware, the CBDT vide its press release dated 26th November 2020 has mandated the updation of the UDINs for all the IT Forms and Tax Audit Reports filed at the e-filing portal. It has been i...
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GST Registration cancellation drive by Government of Haryana
Government of Haryana Excise and Taxation Department 16th June 2022 Press Release The Excise and Taxation Department, Government of Haryana conducted a Cancellation Drive against those taxpayers who h...
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Section 194R of Income-tax Act, 1961 – Guidelines & FAQs
CBDT issued Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961 vide Circular No. 12 of 2022-Income Tax | Dated 16th, June, 2022. F. No. 370142/27/...
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Section 194I deduction on payment of lease /supplemental lease rent- Reg.
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 16th June, 2022 Notification No. 65/2022-Income Tax S.O. 2777(E).—In exercise of the powers conferred by sub-...
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CBDT inserted new Income Tax Rule 21AIA & revised Form No.10-IG
CBDT vide Notification No. 64/2022-Income Tax amended Rule 21AI/21AJ/21AJA/21AJAA, Inserted new Rule 21AIA – Other conditions required to be fulfilled by a specified fund referred to in clause (4D) of...
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Net Direct Tax collections for Financial Year 2022-23 grown at over 45%
Net Direct Tax collections for the F.Y. 2022-23 continue to grow at a robust pace further fortifying the economic revival Gross Tax collections for the Financial Year 2022-23 grown at about 40% Advanc...
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High-pitched Scrutiny Assessment- Revised Instruction – Local Committees
Revised Instruction for constitution and functioning of Local Committees to deal with taxpayers’ grievances due to high-pitched Scrutiny Assessment In line with CBDT’s policy and commitment towards pr...
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Discussion Paper on Streamlining the Liquidation Process
Insolvency and Bankruptcy Board of India 14th June 2022 Introduction The Bankruptcy Law Reforms Committee (BLRC) in its report under the section ‘A time-bound, efficient Liquidation’ observed that “In...
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Report of Insolvency Law Committee on IBC 2016 implementation
REPORT OF THE INSOLVENCY LAW COMMITTEE – MAY, 2022 Ministry of Corporate Affairs Government of India New Delhi, the 20th May, 2022 To, The Honourable Union Minister of Finance and Corporate Affairs Ma...
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Reg. Order under Para 4 of Faceless Penalty Scheme, 2021
F No. 187/4/2021-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi — 110001. Dated the 10th June, 2022 ORDER Order under Para 4...
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CBDT sets up Units under section 144H(3) of Income-tax Act 1961
F. No 187/3/2020 ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct .1 axes (ITA Division), North Block, New Delhi 110001 Office Order -2 | Dated the 10th June...
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Setting up of NaFAC under section 144B(3) of Income-tax Act- Reg.
F No. 1871312020-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi – 110001. Dated the 10th June, 2022 Office Order -1 Setting...
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Changes in ITBA functionalities for Faceless Assessment
Roll out of first phase of changes in ITBA functionalities for Faceless Assessment due to amendments in Section 144B by Finance Act, 2022. National Faceless Assessment Centre, Delhi 4th Floor, Mayur B...
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Notification No. 63/2022-Income Tax, Dated: 15.06.2022
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 15th June, 2022 Notification No. 63/2022-Income Tax S.O. 2754(E).—In exercise of the powers conferred by clau...
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Advisory for Authorized Dealer Code (ADC) Bank Account Registration
CBIC Bank Account Management Module Authorized Dealer Code Bank Account Registration Advisory Advisory for Authorized Dealer Code (ADC) Bank Account Registration – Applicable to a new Bank Account Reg...
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IBBI invites suggestions for expeditious resolution of Real Estate Projects
Insolvency and Bankruptcy Board of India 14th June 2022 Inviting suggestions/inputs from public for effective and expeditious resolution of Real Estate Projects The Insolvency and Bankruptcy Code, 201...