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Sample Letter to Bank for Delay in Submitting Documents
8th April, 2022 To The Credit/Branch Manager (Name of Bank) (Name of Branch) Sub.: Late submission of documents Dear Sir, In accordance with the terms of the credit facility sanctioned by your bank to...
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Banks required to credit interest in Inoperative Savings Accounts
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION NO. 5205 TO BE ANSWERED ON MONDAY, 4th APRIL, 2022/ CHAITRA 14, 1944 (SAKA) INOPERATIVE SAVINGS AC...
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Delhi HC admits petition questioning provision overruling SC Judgment in Canon India case
Delhi High Court admits petition questioning Validity of provisions in Finance Act 2022 which overruled landmark Judgment of Supreme Court in Canon India case. On 07.04.2022, the Delhi High Court admi...
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Contribution to provident fund – Calculation & deduction of taxable interest
EPFO, HEAD OFFICE MINISTRY OF LABOUR & EMPLOYMENT, GOVERNMENT OF INDIA BHAVISHYA NIDHI BHAWAN, 14, BHIKAIJI CAMA PLACE, NEW DELHI 110066 www.epfindia.gov.in No. WSU/6(1)2019/Income Tax/Part-I (E-33306...
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CBDT amends Income Tax rule 2F & rule 8B & release new Form No. 5B & 5BA
CBDT amends Income Tax rule 2F, rule 8B and introduces new FORM NO. 5B – Application for notification of a zero coupon bond under clause (48) of section 2 of the Income-tax Act, 1961 and Form No. 5BA...
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CCI penalises firms for bid rigging & cartelization in Indian Railways tenders
CCI penalises firms found guilty of bid rigging and cartelization in Indian Railways tenders The Competition Commission of India (CCI) issued a final order against eleven (11) companies/ firms which w...
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Use of Cryptocurrency for Drug Trafficking and Arms Smuggling
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO. 5222 TO BE ANSWERED ON MONDAY, 04TH APRIL 2022 CHAITRA 14, 1944 (SAKA) Use of Cryptocurrency for Drug Tra...
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Myth and Reality of Agri Loan Waiver
For getting agriculture gold loan up to Rs.2 lakhs from Banks, there is no requirement to prove that the borrower is an agriculturist. Anybody can avail this loan for which two percent subsidy is give...
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No Discrepancies in payment of GST to States
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO-5137 TO BE ANSWERED ON MONDAY, THE 4th APRIL, 2022 GST DISCREPANCIES 5137. SHRIMATI GEETA KORA: SHRIMATI N...
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GST Council Newsletter for the month of March, 2022
All time high Gross GST collection in March’ 2022, breaching earlier record of Rs. 1,40,986 crore collected in the Month of January, 2022 Rs. 1,42,095 crore gross GST revenue collected in the month Th...
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CGST ghaziabad arrested mastermind of GST fraud of Rs. 783 crs
CGST ghaziabad arrested the mastermind in follow up of an earlier case involved in GST fraud of Rs.783 crs. in value & fake ITC of approx 137 crs. by creating 76 bogus firms in connivance with 2 other...
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CBDT notifies e-Dispute Resolution Scheme, 2022
vide Notification No. 27/2022 – (Income Tax) | Dated: 5th April, 2022. The dispute resolution under this Scheme shall be made by the Dispute Resolution Committee on applications made for dispute resol...
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Dispute Resolution Committee – CBDT notifies New rules & Forms
CBDT notifies vide Notification No. 26/2022 – (Income Tax) | Dated: 5th April, 2022 Rule 44DAA – Constitution of Dispute Resolution Committee, Rule 44DAB – Application for resolution of dispute before...
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Revision in Peer Review Mandate
Peer Review Board The Institute of Chartered Accountants of India 5th April, 2022 ANNOUNCEMENT Sub: Revision in Peer Review Mandate The Council at its 407th Meeting held from 7th– 9thJanuary 2022 deci...
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MCA grants permission to ROC to file complaint against CA/CS
This post contains 9 page list of MCA asking to file complaints against CAs and CSs with ROC of Delhi and Haryana. GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS OFFICE OF THE REGIONAL DIRECTOR (NO...
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46 Transfer/postings of officers in the grade of DCIT/ACIT
F.No.A.22013/1/2022-Ad.V1 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Dated: 1st April, 2022 Office Order No. 61 of 20...
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CBDT notifies 4 Countries under section 89A of Income-tax Act, 1961
CBDT notifies Canada, United Kingdom of Great Britain, Northern Ireland and United States of America under section 89A of the Income-tax Act, 1961 vide Notification No. 25/2022- Income Tax Dated: 4th...
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CBDT Releases Schema for E-Filing Income Tax Returns for Form ITR-1 to ITR-4
ITR-1 For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agr...
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India achieves an all-time high annual merchandise exports
, touching USD 417.81 billion in FY 2021-22, an increase of 43.18% over USD 291.81 billion in previous fiscal For the first time, monthly merchandise exports exceed USD 40 Billion, reaching USD 40.38...
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ICSI Suggested Format of Compliance Certificate under SEBI ICDR Regulations
SUGGESTED FORMAT COMPLIANCE CERTIFICATE (Pursuant to Regulation 163(2), Part III of Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018 including any amendment/modifi...