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CBDT condones default in filing Form 10-IC
CBDT issues Income Tax Circular 06/2022 | Dated: 17th March, 2022 to condone the default in filing Form 10-IC to avail lower tax rate of 22% under section 115BAA for AY 2020-21. Form 10-IC can now be...
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CBDT relaxes requirement of electronic filing of application in Form No. 3CF
for seeking approval under section 35(1)(ii)/(iia)/(iii) of Income-tax Act, 1961 vide Income Tax Circular No. 5/2022 | Dated 16th March 2022. F. No. 225/54/2022/ITA-II Government of India Ministry of...
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Indiscriminate Income Tax notices without allowing reasonable time
In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry and CBDT that suitable steps should be taken so that adequate time is al...
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Extend Time Limit for Income Tax Assessment time barring on 31.3.2022
Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time barring as on 31.3.22 under the Income Tax Act 1961 in view of Problems f...
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ICSI UDIN Amnesty Scheme, 2022 & eCSIN Amnesty Scheme, 2022
The Institute of Company Secretaries of India ICSI eCSIN Amnesty Scheme, 2022 The members applying under ICSI – eCSin Amnesty Scheme, 2022 shall be granted immunity from the applicability of the provi...
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GST fraud: CGST Ghaziabad arrested 2 persons
CGST Ghaziabad arrested 2 persons including the proprietor, of the firms involved in GST fraud of taxable value of Rs. 96.84 Cr and availment and utilization of fake ITC of approx. Rs. 5.15 Cr. PRESS...
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CBDT notifies Assessments to be completed by jurisdictional AO
CBDT notifies vide Order No. F. No. 187/3/2020-ITA-I | Dated: 17th March, 2022 the Assessments which shall he completed by the jurisdictional Assessing Officer (AO) i.e. Assessment orders in all cases...
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Section 144B | Cases in which limitation period expires on 31.03.2022
CBDT directs exclusion of the following cases also from the purview of section 144B of the Act vide Order No. F.No.187/3/2020-ITA-I | Dated: 17th March, 2022 Cases for which the time limit for complet...
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Net Direct Tax collections for F.Y. 2021-22 shows growth of over 48.4%
Advance Tax collections for the F.Y. 2021-22 (Till 4th Instalment) stand at Rs. 6,62,896.3 crore as on 16.03.2022 which shows a growth of approximately 40.75% Refunds aggregating to Rs. 1,87,325.9 cro...
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Income Tax Department searches a cable operator of Mumbai
Income Tax Department conducts searches in Mumbai Income Tax Department carried out a search operation on 08.03.2022 on a cable operator of Mumbai, a State Govt employee and the businesses related to...
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6.63 crore ITRs & 99.27 lakh forms filed on new e-Filing portal
More than 6.63 crore Income Tax Returns (ITRs) and 99.27 lakh statutory forms filed on the new e-filing portal of the Income Tax Department More than 6.63 crore Income Tax Returns (ITRs) were filed fo...
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Indiscriminate and a rash of notices by Income Tax Department
Tax Practitioners’ Association, Indore has made a representation against Indiscriminate and a rash of notices by Income Tax Department Tax Practitioners’ Association, Indore TPA Hall, Room No. 17, Gro...
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Status of Industrial Corridors in India
The status of Chennai-Bengaluru (CBIC), Bengaluru-Mumbai (BMIC) and Hyderabad-Bengaluru (HBIC) is as under: 1. Chennai Bengaluru Industrial Corridor (CBIC): Three nodes namely Tumakuru in Karnataka, K...
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CAIT suggests Formation of Municipal Corporation in Delhi as in Mumbai
Confederation of All India Traders “Vvapar Bhawan’ 925/1, Naiwala, Karol Bagh, New Delhi.110005. Phone: .91-11-45032664 Telefax: 91-11-45032665 Ref. No.: 3375/1/50 14th March, 2022 Shri Hardeep Singh...
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Stop discriminate selling of medicines by e-commerce companies: CAIT
Confederation of All India Traders (An Apex Body of Trade Federation, Association & Non-Corporate Sector of India) “Vyapar Bhawan” 925/1, Naiwala, Karol Bagh, New Delhi-110005, Phone: +91-11-45032664,...
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FDI From Neighbouring Countries
Since 18th April, 2020, 347 FDI Proposals have been received by the Government from countries sharing land border with India or where the beneficial owner of an investment into India is situated in or...
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Taper 2022: Touchdown in Turbulence
Reserve Bank of India Date : Mar 11, 2022 Taper 2022: Touchdown in Turbulence (Keynote Address delivered by Michael Debabrata Patra, Deputy Governor, Reserve Bank of India – March 11, 2022 – organised...
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TDS & Tax on Salary | Section 192 | FY 2021-22 | AY 2022-23
CBDT issued Income Tax Circular No. 04/2022 on 15th March 2022 and explained all provisions related to deduction of Tax At Source (TDS) on Salary or Income Tax Payable on Salary for the Financial Year...
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Request for extension of Time Barring Date for Faceless Assessment
Income Tax Gazetted Officers Association has made a request to Honourable Finance Minister for extension of the Time Barring Date for certain proceedings exercising the power vested in the GOI Income...
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Financial creditors realise 221% of liquidation value & 51% of admitted claims
Financial creditors realise 221% of liquidation value and 51% of admitted claims through corporate insolvency resolution process As per inputs received from the Ministry of Corporate Affairs (MCA), co...