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National Institute of Financial Management, Faridabad, to be renamed as Arun Jaitley National Institute of Financial ManagementThe Government of India has decided to rename National Institute of Finan...

To identify cases of fraudulent claims under Goods & Services Tax (GST), the Government of India has taken measures to apply stringent risk parameters-based checks driven by rigorous data analytics an...

Central Board of Indirect Taxes and Customs (CBIC) destroys large quantities of narcotics and psychotropic drugs and substances across the countryDealing a debilitating blow to the smugglers of Prohib...

I. Profit attribution to business connection/ Permanent Establishment (PE) now covered under SafeHarbour Rules (SHR) and Advance Pricing Agreement (APA)Determination of a PE and profit attribution the...

In the statement of objects and reasons in introducing the Direct Tax Vivad se Vishwas Act, 2020, [THE ACT in short] the FM said that over the years, the pendency of appeals filed by taxpayers as well...

Sabka Vishwas – Legacy Dispute Resolution Scheme The details of total amount of funds that are locked up in cases at various quasi-judicial, appellate and judicial forums under Service Tax and Central...

F.No. Pr. DGIT(S)/ADG(S)-1/FPI/04/2019-20/PartGovernment of IndiaMinistry of FinanceCentral Board of Direct TaxesDirectorate of Income-tax (Systems) Notification 11 of 2020New Delhi, 7th of February,...

The significant direct tax proposals are detailed here under:Tax RatesConcessional slab rates for individuals and HUFs New section 115BAC to be inserted to provide an option to an individual or HUF to...

Press ReleaseNew Delhi, 07.02.2020The Central Bureau of Investigation has arrested a private person, resident of Delhi and a Goods & Services Tax Officer in Trade & Taxes Department, Government of NCT...

India has been improving consistently in the World Bank’s EoDB rankings over the past 5 years and one of the key drivers has been the initiatives under Trading across Borders (TAB), where India jumped...

MCA amends Companies Incorporation Rules, SPICe+ (INC 32)/ INC 35 (AGILE PRO) notified, w.e.f. 15th February, 2020. MCA notifies the Companies (Incorporation) Amendment Rules, 2020, whereby e-Forms SP...

GOVERNMENT OF INDIAMinistry of Corporate AffairsNOTICE INVITING COMMENTS ON THE CONSULTATION PAPER TO EXAMINE THE EXISTING PROVISIONS OF LAW AND MAKE SUITABLE AMENDMENTS THEREIN TO ENHANCE AUDIT INDEP...

THE COMPETITION COMMISSION OF INDIANOTIFICATIONNew Delhi, the 6th February, 2020The Competition Commission of India (General) Amendment Regulations, 2020No. L-3(2)/Regln-Gen.(Amdt.)/2020/CCI.- In exer...

Income Tax Department conducts search on prominent persons in Film Industry in Tamil NaduThe Income Tax Department conducted a search in the case of 4 major players in the Film Industry including a Pr...

Section 194O1. Scope of TDS on E Commerce Transactions under Section 194OMotive behind insertion of new section is to bring the e-commerce participant within the tax net i.e. there will be transparenc...

Budget 2020- Conversion of 26AS into an AISBudget 2020 omitted Section 203AA of the Income-tax Act with effect from the 1st day of June, 2020. and, Introduction of section 285BB of the Income-tax Act...

I. Proposed amendment related to tax on dividendsThe government proposes to take the bold step of obliterating DDT and shifting the burden of tax on dividends from the domestic companies to the recipi...

Applicability:Person in whose case an appeal is filed by him or by income tax department or by both against an assessment/reassessment order or in respect of TDS/TCS which is pending before Supreme Co...

The scheme proposed under the Bill is:S.No.Nature of Tax ArrearAmount payable within 31/03/2020Amount payable between 01/04/2020 to 30/06/20201.Total disputed tax and interest / penalty thereonOnly di...

Key ProvisionsCases outstanding or appeals pending as 0n 31.01.2020 are eligible cases under this scheme.Tax Arrears means: (i) aggregate amount of disputed tax including interest and penalty on such...