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AS 1 – Disclosure of Accounting Policies
Accounting Standard (AS) 1 Disclosure of Accounting Policies (This Accounting Standard includes paragraphs set in bold italic type and plain type, which have equal authority. Paragraphs in bold italic...
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Collect evidences to take action against errant suppliers: NAA
National Anti-profiteering Authority Office Memorandum Sub: Reduction in the rates of tax Anti-Profiteering provisions. I have been directed to invite your kind attention to the recent amendments effe...
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Companies (Accounting Standards) Rules, 2021
MCA has notified Companies (Accounting Standards) Rules, 2021 on 23rd June, 2021. vide this notification has amended definition of Small and Medium Sized Company for applicability of Accounting Standa...
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Companies allowed to conduct EGMs through VC/OAVM till 31.12.2021
MCA allowed companies to conduct their EGMs through VC or OAVM or transact items through postal ballot upto 31st December, 2021 (Earlier they were allowed till 30th June 2021). General Circular No. 10...
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Circular extending Income Tax Compliance Due Dates amid Covid-19
Circular No: 12 of 2021 F. No.225/49/2021-1TA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Dated 25 June, 2021 Subject: Extension of time l...
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Govt extends 18 Income Tax Due Dates amid Covid 19
Ministry of Finance Government grants further extension in timelines of compliances Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19 P...
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Income Tax Department conducts searches in Raipur
Specific actionable intelligence was received by the Income Tax Department that a set of people were to carry out an outside-the-books cash transaction of a substantial amount at Raipur, Chhattisgarh....
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Salient Features of EDLI Scheme 1976
Ministry of Labour and Employement (Government of India) Salient Features of Employees’ Deposit Linked Insurance (EDLI) Scheme 1976 1. Maximum assured assured benefit up to Rs. 7 lakh paid to nominee...
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Properties attached & dues recovered from Fugitives & economic offenders
ED transferred attached assets worth Rs 8441.5 Crore to Public Sector Banks who suffered loss due to the bank fraud by Vijay Mallya Nirav Modi and Mehul Choksi 1. Vijay Mallya, Nirav Modi and Mehul Ch...
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Graduates & Post Graduates exempted from appearing in CSEET: ICSI
THE INSTITUTE OF Company Secretaries of India IN PURSUIT OF PROFESSIONAL EXCELLENCE Statutory body under an Act of Parliament (Under the jurisdiction of Ministry of Corporate Affairs) Attention Studen...
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GST Council meetings become acrimonious, vexing & toxic: Amit Mitra
Dr. Amit Mitra Minister-in-charge Finance Department, Planning & Statistics Department and Programme Monitoring Department Government of West Bengal D.O. No. 156/FM/2021 Dated, the 23rd June, 2021 Dea...
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Section 206AB & 206CCA Compliance Check Functionality procedure
DGIT(S)/ADG(S)-2/Compliance Check/432/2021-22 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 01 of 2021-Income Tax New Delhi...
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Bhutan’s Tax Inspectors Without Borders programme launched
Ministry of Finance Bhutan’s Tax Inspectors Without Borders (TIWB) programme launched in partnership with India Posted On: 23 JUN 202 Tax Inspectors Without Borders (TIWB), a joint initiative of the U...
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Cabinet approves Agreement with Saint Vincent for Tax Information exchange
Ministry of Finance Cabinet approves Agreement between India and Saint Vincent and The Grenadines for the Exchange of Information and Assistance in Collection with respect to Taxes Posted On: 23 JUN 2...
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Representation against passing of orders & fixing of hearings in June 2021
Representation in respect of 1) completion of orders and fixing of hearings in June 2021 without following Instruction issued by appropriate authorities for NOT fixing hearing and NOT passing of Facel...
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PM Blog on Reforms by Conviction and Incentives
Prime Minister’s Office Text of PM’s Blog on LinkedIn Reforms by Conviction and Incentives Posted On: 22 JUN 2021 8:04PM by PIB Delhi The Covid-19 pandemic has come with whole new set of challenges to...
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New Income Tax e-filing portal – ICAI to provide its support & inputs to CBDT & Infosys
Public Relations Committee The Institute of Chartered Accountants of India 22nd June, 2021 ICAI Press Release New Income Tax e-filing portal- Meeting organised by the Ministry of Finance, to review th...
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CBDT to launch Compliance Check Functionality for Section 206AB & 206CCA
Issue of order u/s.138(1)(a)(i) of the Income Tax Act, 1961 for the purposes of launch of Compliance Check Functionality for Section 206AB & 206CCA – To facilitate the process of furnishing informatio...
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Compliance Check functionality for Sections 206AB & 206CCA
Clarification for use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961 Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 which takes ef...
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Issues in new Income Tax Portal – Extract of Meeting with Infosys
Ministry of Finance Finance Ministry interaction with tax professionals, other stakeholders and Infosys on issues in new Income Tax Portal Posted On: 22 JUN 2021 8:05PM by PIB Delhi A meeting was held...