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IBBI Admits 1,060 Cases Into CIRP In Around 2 Years
IBBI admits 1,060 cases into corporate insolvency resolution (CIRP) process in around 2 years As per the information provided by Insolvency and Bankruptcy Board of India, in the years 2020-21 and 2021...
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SFIO assigned 14 cases involving 95 companies in FY 2021-22
Serious Fraud Investigation Office (SFIO) formed through a Government Resolution is an Investigating Agency under Ministry of Corporate Affairs (MCA), which was given statutory recognition under the C...
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Income Tax Dept searches a prominent Real Estate Group of North India
The Income Tax Department carried out search & seizure operations on 14.03.2022 in the case of a leading Real Estate Group active in Northern India. The search action covered more than 45 premises in...
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Current legal status of cryptocurrency in India
GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF ECONOMIC AFFAIRS LOK SABHA UNSTARRED QUESTION NO.2800 TO BE ANSWERED ON 21.03.2022 Status of Cryptocurrency. 2800: SHRI KARTI P. CHIDAMBARAM Will...
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EPFO adds 15.29 lakh net subscribers during in January, 2022
The provisional payroll data of EPFO has been released today, i.e., 20th March 2022, which highlights that EPFO has added 15.29 lakh net subscribers during January 2022. Month-on-month comparison of p...
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Income Tax Department searches unicorn start-up group
Income Tax Department conducts searches on a Pune & Thane based unicorn start-up group Income Tax Department conducted a Search & Seizure operation on a Pune & Thane based unicorn start-up group, prim...
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Request for relaxation on levy of additional fee in filing of ROC forms
Request for relaxation on levy of additional fee in filing of e-forms AOC 4, AOC 4 (CFS), AOC 4- XBRL, AOC 4 Non XBRL and MGT 7/MGT 7A for the financial year ended on 31.03.2021 under the Companies Ac...
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CBDT condones default in filing Form 10-IC
CBDT issues Income Tax Circular 06/2022 | Dated: 17th March, 2022 to condone the default in filing Form 10-IC to avail lower tax rate of 22% under section 115BAA for AY 2020-21. Form 10-IC can now be...
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CBDT relaxes requirement of electronic filing of application in Form No. 3CF
for seeking approval under section 35(1)(ii)/(iia)/(iii) of Income-tax Act, 1961 vide Income Tax Circular No. 5/2022 | Dated 16th March 2022. F. No. 225/54/2022/ITA-II Government of India Ministry of...
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Indiscriminate Income Tax notices without allowing reasonable time
In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry and CBDT that suitable steps should be taken so that adequate time is al...
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Extend Time Limit for Income Tax Assessment time barring on 31.3.2022
Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time barring as on 31.3.22 under the Income Tax Act 1961 in view of Problems f...
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ICSI UDIN Amnesty Scheme, 2022 & eCSIN Amnesty Scheme, 2022
The Institute of Company Secretaries of India ICSI eCSIN Amnesty Scheme, 2022 The members applying under ICSI – eCSin Amnesty Scheme, 2022 shall be granted immunity from the applicability of the provi...
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GST fraud: CGST Ghaziabad arrested 2 persons
CGST Ghaziabad arrested 2 persons including the proprietor, of the firms involved in GST fraud of taxable value of Rs. 96.84 Cr and availment and utilization of fake ITC of approx. Rs. 5.15 Cr. PRESS...
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CBDT notifies Assessments to be completed by jurisdictional AO
CBDT notifies vide Order No. F. No. 187/3/2020-ITA-I | Dated: 17th March, 2022 the Assessments which shall he completed by the jurisdictional Assessing Officer (AO) i.e. Assessment orders in all cases...
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Section 144B | Cases in which limitation period expires on 31.03.2022
CBDT directs exclusion of the following cases also from the purview of section 144B of the Act vide Order No. F.No.187/3/2020-ITA-I | Dated: 17th March, 2022 Cases for which the time limit for complet...
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Net Direct Tax collections for F.Y. 2021-22 shows growth of over 48.4%
Advance Tax collections for the F.Y. 2021-22 (Till 4th Instalment) stand at Rs. 6,62,896.3 crore as on 16.03.2022 which shows a growth of approximately 40.75% Refunds aggregating to Rs. 1,87,325.9 cro...
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Income Tax Department searches a cable operator of Mumbai
Income Tax Department conducts searches in Mumbai Income Tax Department carried out a search operation on 08.03.2022 on a cable operator of Mumbai, a State Govt employee and the businesses related to...
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6.63 crore ITRs & 99.27 lakh forms filed on new e-Filing portal
More than 6.63 crore Income Tax Returns (ITRs) and 99.27 lakh statutory forms filed on the new e-filing portal of the Income Tax Department More than 6.63 crore Income Tax Returns (ITRs) were filed fo...
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Indiscriminate and a rash of notices by Income Tax Department
Tax Practitioners’ Association, Indore has made a representation against Indiscriminate and a rash of notices by Income Tax Department Tax Practitioners’ Association, Indore TPA Hall, Room No. 17, Gro...
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Status of Industrial Corridors in India
The status of Chennai-Bengaluru (CBIC), Bengaluru-Mumbai (BMIC) and Hyderabad-Bengaluru (HBIC) is as under: 1. Chennai Bengaluru Industrial Corridor (CBIC): Three nodes namely Tumakuru in Karnataka, K...