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Finance Act, 2022 – Assented by President
Finance Act, 2022 received the assent of the President on the 30th March, 2022. Full text of the same is as follows:- MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 30th March, 20...
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CBDT signs 62 Advance Pricing Agreements in FY 2021-22
Signing of 62 Advance Pricing Agreements by CBDT in FY 2021-22 The Central Board of Direct Taxes (CBDT) has entered into 62 Advance Pricing Agreements (APA) in FY 2021-22 with Indian taxpayers. This i...
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Income Tax Dept searches Automobile Manufacturing Group
Income Tax Department conducts searches in Delhi-NCR on Automobile Manufacturing Group, Company Operating Chartered Flights and Real Estate Groups The Income Tax Department conducted a search and seiz...
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Additional 3% DA to Central Govt employees from 01.01.2022
Cabinet approves release of an additional instalment of Dearness Allowance to Central Government employees and Dearness Relief to Pensioners, due from 01.01.2022 The Union Cabinet chaired by the Prime...
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Non linking of PAN with Aadhaar | Rule 114AAA | Inoperative PAN – Clarification
F.No.370142/14/2022-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Circular No. 7 of 2022 | Dated 30th of March, 2022 Sub.: Clarification wi...
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Faceless Inquiry or Valuation Scheme, 2022
CBDT notifies Faceless Inquiry or Valuation Scheme, 2022 vide Notification No. 19/2022-Income Tax Dated: 30th March, 2022 and it specifies that (a) issuing notice under sub-section (1) of section 142...
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e-Assessment of Income Escaping Assessment Scheme, 2022
MINISTRY OF FINANCE (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 29th March, 2022 Notification No. 18/2022-Income Tax S.O. 1466(E).—In exercise of the powers conferred by sub-sections (1) and (2) of...
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CBDT notifies Late fees for Delayed/Non linking of PAN with Aadhaar
vide Notification No. 17/2022-Income Tax Dated 29th March, 2022 which ranges from Rs. 500 to Rs. 1000. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 29th M...
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CBDT extends timelines under TOLA
CBDT extends time line under Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (TOLA) vide Notification No. 16/2022 Income Tax, [S.O. 1440(E)] dated: 28th March, 2022...
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Faceless Jurisdiction of Income-tax Authorities Scheme, 2022
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 28th March, 2022 Notification No. 15/2022-Income Tax S.O. 1400(E).—In exercise of the powers conferred by sub...
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CBDT prescribes fees for not linking PAN with Aadhaar
Taxpayers who have not linked their PAN with Aadhaar will be required to pay a fee of Rs. 500 up to three months from 1st April, 2022 and a fee of Rs.1000 after that, while intimating their Aadhaar. G...
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No plan to increase Gratuity payment from 15 days salary to 30 days
GOVERNMENT OF INDIA MINISTRY OF LABOUR AND EMPLOYMENT RAJYA SABHA UNSTARRED QUESTION NO. 1855 TO BE ANSWERED ON 17.03.2022 PLAN TO INCREASE GRATUITY 1855. SHRI BHUBANESWAR KALITA: Will the Minister of...
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IBBI extends validity of Online Delivery of Educational Course Guidelines
INSOLVENCY AND BANKRUPTCY BOARD OF INDIA New Delhi, the 29th March, 2022 AMENDMENT TO THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA (ONLINE DELIVERY OF EDUCATIONAL COURSE AND CONTINUING PROFESSIONAL ED...
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Impact of Russia-Ukraine War on Economy
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UNSTARRED QUESTION NO. 3970 TO BE ANSWERED ON 28 MARCH 2022 IMPACT OF RUSSIA-UKRAINE WAR ON ECONOMY 3970. SHRI A. GANES...
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Service Charges on Loans – RBI Provisions/guidelines
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION No. 3975 ANSWERED ON MONDAY, MARCH 28, 2022/CHAITRA 7, 1944 (SAKA) Service Charges on Loans 3975....
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RBI founds 600 illegal digital lending apps
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION NO.4113 To be answered on the 28th March 2022/Chaitra 7, 1944 (Saka) Illegal Digital Lending Apps...
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Recovery against Gross NPAs improves to 14.69% in FY 2019-20
Gross non-perofrming assets (NPAs) improves from 11.33% in FY2017-18, to 13.52% in FY2018-19, to 14.69% in FY2019-20 As per Reserve Bank of India (RBI) data, recovery made by public sector banks (PSBs...
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More than 37,000 users joined UPI123Pay since its launch on 8.3.2022
Various steps have been taken by Reserve Bank of India (RBI) to expand the reach of UPI outside India. This was stated by Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written rep...
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GST Rating in Kerala: Tax Payer Card- Logic Document
Tax Payer Card- Logic Document Evaluation Areas and Factors: The rating is applied only on Tax Payers having annual turnover above 1.5 Cr under Regular Tax Payer Category. Period of Data Used for calc...
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DRI seized 14 crore sticks of cigarettes in current financial year
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO-3920 ANSWERED ON-MONDAY MARCH 28, 2022 / CHAITRA 7, 1944 (SAKA) SMUGGLING OF CIGARETTES 3920. DR. BHARATIB...