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CBDT issues guidelines on partnership firm taxation | Section 45(4)
F.370142/22/2021-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Circular No. 14 of 2021-Income Tax | Dated: 02nd July, 2021 Sub.: Guidel...
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Section 45(4) | CBDT amends rule 8AA & Inserts Rule 8AB
CBDT vide Notification No. 76/2021-Income Tax | Dated: 2nd July, 2021 amends rule 8AA which relates to Method of determination of period of holding of capital assets in certain cases and added rules r...
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CBI Registers a Case against ITAT Member on Allegations of Possessing DA
CBI Registers a Case against Accountant Member, Income Tax Appellate Tribunal (ITAT) on the Allegations of Possessing Disproportionate Assets (DA). CENTRAL BUREAU OF INVESTIGATION CBI Registers a Case...
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India joins OECD/G20 Inclusive Framework tax deal
Ministry of Finance Posted On: 02 JUL 2021 Majority of the members OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting(including India)adoptedyesterday ahigh-level statement containing an...
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Last Date of updation of UDINs at e-filing Portal extended to 31.08.2021
UDIN Directorate The Institute of Chartered Accountants of India 30th June, 2021 Last Date of updation of UDINs at e-filing Portal The CBDT has extended the last date for updating UDINs for all the IT...
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ICAI President’s Message – July 2021
My Dear Professional Colleagues, ICAI celebrates 73rd Foundation Day on July 1 every year which is widely celebrated as Chartered Accountants Day (CA Day). A very hearty congratulation to all colleagu...
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ICSI EIRC Council Election – Form of Application Seeking Permission to Vote by Post
Instructions And Form of Application For Seeking Permission To Vote By Post In Election To The Council From EIRC, 2021 The Institute of Company Secreataries of India Pursuant to Sub-Rule 2(e) of Rule...
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Major Initiatives taken in GST for facilitation of taxpayers in last 1 year
GSTR-3B Return related measures Quarterly return monthly payment (QRMP) scheme > To reduce compliance burden of the smaller taxpayers having aggregate turnover upto Rs. 5 Crore, Quarterly Return and M...
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COVID Relief Measures in GST Compliance
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under GST law due to the outbreak of the second wave of COVID-19, the Government has issued notificatio...
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4 years of GST – Rate Changes Post Introduction
Overall, GST rates have been reduced on 400 goods and 80 services. Given that, in the pre-GST regime, the combined Centre and States rates were more than 31% on most of the items; this reduction marks...
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All India Common Representation on GST Amensty & Revocation Issue
ALL INDIA COMMON REPRESENTATION SUBJECT – To Increase Government GST Revenue and giving True Benefit of recent Amnesty Scheme SYNOPSIS OF ISSUE – Recently in 43rd GST Council, Government has announced...
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CBIC to honour tax payers contributing to GST success story
Ministry of Finance On the eve of completion of 4 years of the GST, CBIC to honour the tax payers contributing to the GST success story CBIC to issue certificates of appreciation to honour contributio...
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Guidelines under section 194Q of Income-tax Act, 1961
CBDT releases Guidelines under section 194Q of Income-tax Act, 1961 vide Circular No. 13 of 2021 | Dated: 30th June, 2021. Section 194Q takes effect from 1st day of July, 2021. F. No. 370142/26/2021-T...
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Appointment as ITAT Member- Disparity with CAs
Appointment as ITAT Member- Disparity with Chartered Accountants- CA to have 15 Year more experience than Advocate for appointment as ITAT Member Govt notifies Qualification for appointment of Chairpe...
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Cabinet approves Loan Guarantee Scheme for Covid Affected Sectors
Ministry of Finance Cabinet approves Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS) and to enhance the corpus of Emergency Credit Line Guarantee Scheme (ECLGS) Posted On: 30 JUN 2021 4:12PM...
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Brief Note on Behalf of ICAI on Issues Raised in SC Writ Petition
IN THE SUPREME COURT OF INDIA WRIT PETITION (C) NO.640/2021 ANUBHA SHRIVASTAVA SAHAI VS. UNION OF INDIA & ANR. BRIEF NOTE ON BEHALF OF THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA ON THE ISSUES RAI...
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Representation to increase GST Collection & give True Benefit of GST Amnesty Scheme
Representation to increase Government GST Collection (Tax Augmentation) and giving True Benefit of recent Amnesty Scheme announced in 43rd GST Council Meeting ALL ODISHA TAX ADVOCATES ASSOCIATION (AOT...
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Delta and Delta Plus Variants: FAQs
Vaccines and COVID Appropriate Behaviour can help us fight the pandemic. Secretary, Department of Biotechnology; Director General, Indian Council of Medical Research; and Director, National Centre for...
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Show no leniency in Proposed E-Commerce Rules: CAIT urges PM
Confederation of All India Traders (CAIT) has written a letter to Prime minister Shri Narendra Modi In the wake of expected pressure tactics of foreign funded E-commerce companies against the draft of...
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Govt announces stimulus package of Rs 6,28,993 crore
Ministry of Finance Presentation of stimulus package of Rs 6,28,993 crore announced by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to support Indian economy in fight against...