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DIR-3 KYC: Simplification, Due date Extension- New Updates
To cope with the difficulties being faced while complying with the provisions of Rule 12A of the Companies (Appointment and Qualifications of Directors) Rules,2014, MCA has clarified the below mention...
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Form DPT 3: ICSI seek clarification on Audit Requirement, Nil Return, Amount to Include
ICSI has made a representation to Minister of Corporate Affairs and requested to clarify –1. w.r.t requirement of the Audit of financials for the purpose of filing of Form DPT – 3,2. In case of one-ti...
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ITBA Functionality to Rectify ITR 1 to 6 for A.Y. 2017-18 Launched
The functionality for rectification of processing u/s 143(1) of ITR 1,2,3,4,5, & 6 for A.Y. 2017-18 is now made available in Income Tax Business Application (ITBA). ITBA- Rectification Instruction No....
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CBDT expands Terms of Reference for drafting new Direct Tax Law
to include (i) The Faceless and anonymised verification/ scrutiny/ assessment (ii) The mechanism for system based cross verification of the financial transactions (iii) Reduction in litigation and exp...
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Delay in All India Annual General Transfer orders of Income Tax Officers- Reg.
JOINT COUNCIL OF ACTION INCOME TAX EMPLOYEES FEDERATION & INCOME TAX GAZETTED OFFICERS ASSOCIATION A-2/95, Manishinath Bhawan, RajouriGarden, New Delhi-110027Joint Conveners:Rupak Sarkar8902198000itef...
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CBDT allows Angel Tax Exemption to 702 startups
DPIIT accepts applications and declarations from Startups applying for Angel Tax Exemption and on the receipt of the same DPIIT forwards these applications to CBDT. As on 21st June, 2019 a total of 94...
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Transfer & Postings of the officers in the grade of ACIT/ DCIT
Office Order No. 142 of 2019 – AGT 2019 – Transfer & Postings of the officers in the grade of Assistant Commissioner/ Deputy Commissioner of Income Tax – reg.F.No. A-22013/1/2019-Ad-VIGovernment of In...
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Income Tax Dept can share info of loan defaulters with Public Sector Banks
CBDT is of the view that sharing of information with Public Sector Banks (PSBs) in respect of assets held by defaulters of loans, so as to enable recovery of loans from such defaulters, is in public i...
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Things to know about pre-filling of ITRs and Changes in ITR Software
A. Taxpayers are requested to note the followings in connection with pre-filling of ITRs-1.Pre-filling of ITR is only for the taxpayer’s convenience. Taxpayers should verify the pre-filled data carefu...
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GST collection shows consistent growth trend over last two years
GST CollectionsThe Tax Collection in April, 2019 has been the highest ever in a particular month i.e. Rs. 1,13,865 crore since GST implementation. It is usually noticed that there will be a jump in th...
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GST Council has to decide on levy of GST on Petroleum Products
Article 279A (5) of the Constitution provides that Goods and Services Tax Council shall recommend the date on which goods and services tax shall be levied on petroleum crude, high speed diesel, motor...
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Registration process under GST linked with SPICe-AGILE Form of MCA
1. Normal and Composition taxpayer can now apply for GST registration, while applying for incorporation of company on MCA Portal. Thus, once a new company applies for its incorporation/ registration w...
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Income Tax Dept can share info of loan defaulters with Public Sector Banks
CBDT is of the view that sharing of information with Public Sector Banks (PSBs) in respect of assets held by defaulters of loans, so as to enable recovery of loans from such defaulters, is in public i...
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Clarification on Auditor’s Certificate on Return of Deposits (DPT-3)
Clarification on Auditor’s Certificate on Return of Deposits pursuant to Rule 16 of the Companies (Acceptance of Deposits) Rules, 2014This has reference to Rule 16 of the Companies (Acceptance of Depo...
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Lackadaisical attitude in effective redressal of taxpayer grievance- Criticised by CBDT
P. C. MODYChairman, CBDT &Special Secretary to the Government of IndiaGOVERNMENT OF INDIAMinistry of Finance/Department of RevenueCentral Board of Direct TaxesNorth Block. New Delhi –110001E·mail: cha...
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Disability pension exempt for armed forces personnel of all ranks-CBDT
Exemption of service element and disability element of disability pension granted to disabled personnel of armed forces who have been invalided on account of disability attributable to or aggravated b...
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E-filing of Income Tax and details of CPC 2.0 Project
Press Information BureauGovernment of IndiaMinistry of FinanceDate: 24-June-2019E-filing of Income TaxThere is a marked increase in the number of income tax filed through e-filing. The number of e-Ret...
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List of Small Finance Banks, Payments Banks & New Private Sector Banks
Ministry of FinanceNew Banking LicensesDated: 24 JUN 2019Reserve Bank of India (RBI) has issued Guidelines for ‘on tap’ Licensing of Universal Banks in the Private Sector, dated August 1, 2016 for gra...
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Steps taken by Govt for smooth Implementation of GST
The implementation of GST has led to the removal of cascading effect of taxes in the economy as well as promoting free movement of goods across States, thereby creating “one nation, one market”. A sim...
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Govt to integrate FASTag Bank Mechanism with e-way bill to check GST evasion
Ministry of FinanceGST EVASIONPosted On: 24 JUN 2019The Government proposes to integrate a FASTag Bank Mechanism with e-way bill and Logistic Data Services to track movement of goods and check GST eva...