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MCA notifies Court at Pune U/s. 435(1)
Notification of Special Court (Court of District Judge-1 and Additional Sessions Judge) at Pune (Maharashtra) under sub-section (1) of Section 435 of the Companies Act, 2013MINISTRY OF CORPORATE AFFAI...
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CBDT extends ITR due date to 31st August 2019
The due date for filing of Income Tax Returns for Assessment Year 2019-20 is 31.07.2019 for certain categories of taxpayers. Upon consideration of the matter, the Central Board of Direct Taxes(CBDT) e...
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ITR-2 & ITR-5 utilities are modified to fix bugs: CBDT
ITR-2 & ITR-5 utilities are modified to fix bugs identified while filling Schedule FA in ITR-2 (Java utility), Partners information is ITR-5 (Java utility) and Part A-General answer to Investment Fund...
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Mauritius Leaks again revealed devastating impact of tax avoidance
ICRICTIndependent Commission for the Reformof International Corporate TaxationPRESS RELEASE23 July 2019The Mauritius Leaks have once again revealed the devastating impact oftax avoidance. ICRICT calls...
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Report on Virtual Currencies & Draft Bill on Banning of Cryptocurrency
Ministry of FinanceInter-Ministerial Committee on Virtual Currencies submits its Report along with Draft Bill ‘Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019’Posted On:...
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Deferred Tax related to Assets & Liabilities arising from a Single Transaction
The Institute of Chartered Accountants of IndiaIntroductionIn this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 12 Income Taxes. The proposed amendments w...
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Include Cost Accountants under Definition of Accountant U/S 288(2)
SUBMISSION ON INCLUSION OF “COST ACCOUNTANTS” UNDER THE DEFINITION OF ‘ACCOUNTANT’ U/S 288(2) OF INCOME TAX ACT, 1961The Institute of Cost Accountants of India(Statutory body under an Act of Parliamen...
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DGGI arrests one person for issuing bogus GST invoices
Press Information Bureau Government of IndiaMinistry of FinanceDated: 19 July 2019DGGI Headquarters arrests one person for issuing bogus invoices without supply of goodsThe Directorate General of GST...
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Amendments in provisions relating to Nidhi and availability of form BEN-2
Enforcement of amendments in provisions relating to NidhiMCA has appointed 15th August, 2019 as the date on which section 406 (Provisions relating to Nidhi and its application, etc.) as substituted by...
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DGGI arrests two businessmen for GST evasion of Rs. 40 crores
Gurugram Zonal Unit of DGGI has arrested two businessmen in a case of fraudulent issuance of Input Tax Credit invoices without actual supply of goods, involving GST evasion of approximately Rs 40 cror...
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CBDT notifies Revised India -China DTAA Protocol
Protocol amending the Agreement between the Government of the Republic of India and the Government of the People’s Republic of China for the Avoidance of Double Taxation and the Prevention of Fiscal E...
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Notification No. 53/2019-Income Tax, Dated: 16/07/2019
Government of IndiaMinistry of Finance(Department of Revenue)(Central Board of Direct Taxes)New Delhi, the 16th ofJuly, 2019Notification No. 53/2019-Income TaxS.O. It is hereby notified for general in...
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Scrip wise details of long term capital gains in ITR is Optional: CBDT
Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback.Taxpayers have...
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Cabinet approves amendments to Insolvency and Bankruptcy Code
In order to provide relief to money lenders, i.e., banks and financial institutions, the Union Cabinet has given green signal on long awaited amendments to the Insolvency and Bankruptcy Code. This ame...
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Resignation of Statutory Auditors from Listed Companies- Proposed Disclosure Norms
SEBI Consultative Paper on Policy Proposals with Respect To Resignation of Statutory Auditors From Listed EntitiesSecurities and Exchange Board of IndiaA. Background and rationale for review1. There h...
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Committee to examine Data Structure & Modalities of upload of data for E-Assessment
DIRECTORATE OF INCOME TAX (SYSTEMS)ARA Centre, Ground Floor, E-2, Jhandewalan Extension,New Delhi – 110 055F.No. ADG(S)-5/Misc./2019-205789-5790 Dated: 17.07.2019OFFICE ORDERSubject: Constitution of C...
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CBDT transfers 122 Income Tax officers in ACIT/ DCIT Grade
CBDT Office Order No. 154 of 2019 – Transfer/Postings (Local Changes) of 122 officers in the grade of Assistant Commissioner of Income Tax (ACIT) / Deputy Commissioner of Income Tax (DCIT)F.No. A-2201...
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Seeding of Bank Account and Linking with Aadhaar
Ministry of Electronics and Information Technology (MeitY) has apprised that “The Aadhaar and Other Laws (Amendment) Bill, 2019” has been passed by the Parliament. The bill, inter-alia, has the provis...
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Some Replies received from GSTN for CMP-08 and GSTR-4
Problem reported: Concern regarding CMP-08 is not reflecting on return dashboard.Resolution: This is in reference to our telephonic conversation, we informed you that the functionality for filing CMP-...
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Fraudulent GST ITC of Rs 5.06 Crore- One arrest in Gurugram
The Directorate General of GST Intelligence (DGGI), Gurugram Zonal Unit arrests one person for taking ITC fraudulently to the tune of more than Rs 5.06 CroreThe Directorate General of GST Intelligence...