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Around 6.17 crore Income Tax Returns (ITRs) and about 19 lakh major Tax Audit Reports (TARs) filed on new e-Filing portal of Income Tax Department Around 6.17 crore Income Tax Returns (ITRs) and about...

More than 43.34 crore Permanent Account Numbers (PANs) linked with Aadhaar till 24.01.2022 As on 24-01-2022, the total number of Permanent Account Numbers (PANs) linked with Aadhaar is 43,34,75,209. T...

As you aware that after filing of Income Tax Return, the assesse has to complete the verification process within 120 days from the date of filing Income tax Return. There are total 2 ways to verify it...

In a case of Kunal Surana vs. ITO (ITAT Mumbai) an appeal for condonation of delay was rejected . Reason:- The affidavit in support of delay condonation was very badly drafted. (Read the bottom part o...

Background The Commissioner of Income Tax (Appeals) [the CIT(A)] is a first appellate authority under the Income-tax Act, 1961 (‘the Act’) and has authority to hear and dispose the appeal filed by the...

The ITAT may, on an application made by the assessee and after considering the merits of the application, pass an order of stay in any proceedings relating to an appeal filed under section 253(1). If...

Introduction – Rectification application maybe filed u/s 154 of the Income Tax Act by the taxpayer in case of any mistake apparent from the record. To file your Rectification, you should be a register...

Disinvestment of Air India completed The strategic disinvestment transaction of Air India has been successfully completed on 27th January, 2022. This was stated by Union Minister of State for Finance...

Invitation for public comments on Draft International Financial Services Centres Authority (Fund Management) Regulations, 2022 International Financial Services Centres Authority (IFSCA), in its endeav...

The officers of Anti Evasion wing of CGST Thane Commissionerate of Mumbai Zone have arrested a couple, for GST evasion of Rs. 12.23 Crore. Based on detailed data mining and data analysis, a Thane base...

CGST Mumbai South smashes a network of fictitious firms which generated fake Input Tax Credit of Rs 49 crores Officers of CGST Mumbai South has smashed a network of fictitious firms which issued fake...

The Finance Ministry has proposed a new section, 135AA, in the Customs Act vide Union Budget 2022-23. Proposed section 135AA of Customs Act, 1962 criminalise the illicit publication of personalised, t...

1. Corporate Tax has been introduced on net income or profit of corporations and other businesses. This is a federal tax and so applicable to across Emirates. 2. There is zero tax if taxable profits a...

Article explains about New Functionalities made available for Taxpayers on GST Portal (January, 2022) which are related to GST Registration, GST Returns, GST Return, GST Payments and Changes made in F...

Officers of CGST, Navi Mumbai have busted a racket which issued bogus invoices of Rs 60 cr and fake ITC of Rs 10.68 cr & arrested proprietor of M/s Navnit Steel on 02.02.22. He has been remanded to JC...

Circular No. 3/2022 F. No. 503/1/2021-FT&TR-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (FT&TR-I) New Delhi, 3rd February, 2022 Subject: Clarification...

DATA CENTRES AND ENERGY STORAGE SYSTEMS TO BE INCLUDED IN HARMONIZED LIST OF INFRASTRUCTUREEXPERT COMMITTEE TO STUDY SCALING UP VENTURE CAPITAL AND PRIVATE EQUITY INVESTMENTRs. 5.5 LAKH CRORE INVESTED...

CENTRAL BUREAU OF INVESTIGATIONPress ReleaseCBI ARRESTS A SUPERINTENDENT OF CUSTOMS AND A COMPUTER OPERATOR IN BRIBERY CASE OF Rs. 50,000/-Press ReleaseDated: 02.02.2022The Central Bureau of Investiga...

The ChairmanCentral Board of Direct TaxesNorth BlockRaisina HillsNew DelhiReg: Non filing of Form 10-IC for AY 2020-21 by the CompaniesSubject: Request to permit filing of Form 10IC after expiration o...