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EPCG and Post Export EPCG FAQs Q.1 What does EPCG stand for? What is the benefit of an EPCG authorisation? Ans. EPCG stands for Export Promotion Capital Goods. The objective of this scheme is to facil...

All students who passed any group/module or any stage, are eligible for obtaining transcript. Documents required 1. Duly filled and signed Transcript Application Form 2. Self-attested copies of the ma...

In an important communication sent to Finance Minister, Nirmala Sitharaman,CAAT urged for complete withdrawal of the proposed GST hike on Textiles as same is going to be a big burden on Traders & cons...

Government of Haryana Excise and Taxation Department Press Release 8th February 2021 The Excise and Taxation Department, Government of Haryana under the leadership of Deputy Chief Minister. Sh. Dushya...

CGST Commissionerate in Navi Mumbai busts fake input tax credit racket, arrests proprietor of scrap metal firm CGST Commissionerate, Navi Mumbai has busted a fake ITC racket of Rs. 10.26 Crores and ar...

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th February, 2022 G.S.R. 102(E).—With the approval of the Competent Authority, the Direct Tax R...

Analysis of applicability of section 194R Finance Bill 2022 has proposed to insert Section 194R in the Income Tax Act, 1961 (“Act”). As per the memorandum explaining the provisions in the Finance Bill...

Finance Bill 2022 Income Tax amendments related to Charitable Institutions Since last 5 years we find that there are certain amendments under sections 11 to 13, pertaining to Charitable Trust. It seem...

If Government were to be a farmer, then Tax deduction at source (TDS) provisions are its cash crops”. TDS, as a concept, was introduced under Income-tax Act by the government to collect income at its...

Accounting Standards Board The Institute of Chartered Accountants of India 8th February, 2022 Exposure Draft of Initial Application of Ind AS 117 and Ind AS 109- Comparative Information – Amendments t...

Institute of Company Secretaries of India Note: It is clarified that on the scheduled cut-off date even if there is a holiday/Off-day, there shall be no change in the prescribed cut-off date Particula...

Results of Chartered Accountants Final Examination (Old Course & New Course) and Foundation Examination held in December 2021 are likely to be declared on Thursday, 10th February, 2022 (evening)/Frida...

Average monthly gross GST collection for third quarter of FY 2021-22 is Rs.1.30 lakh crore Record GST collection of Rs.1,40,986 crore reported for January, 2022 The average monthly gross Goods & Servi...

Around 6.17 crore Income Tax Returns (ITRs) and about 19 lakh major Tax Audit Reports (TARs) filed on new e-Filing portal of Income Tax Department Around 6.17 crore Income Tax Returns (ITRs) and about...

More than 43.34 crore Permanent Account Numbers (PANs) linked with Aadhaar till 24.01.2022 As on 24-01-2022, the total number of Permanent Account Numbers (PANs) linked with Aadhaar is 43,34,75,209. T...

As you aware that after filing of Income Tax Return, the assesse has to complete the verification process within 120 days from the date of filing Income tax Return. There are total 2 ways to verify it...

In a case of Kunal Surana vs. ITO (ITAT Mumbai) an appeal for condonation of delay was rejected . Reason:- The affidavit in support of delay condonation was very badly drafted. (Read the bottom part o...

Background The Commissioner of Income Tax (Appeals) [the CIT(A)] is a first appellate authority under the Income-tax Act, 1961 (‘the Act’) and has authority to hear and dispose the appeal filed by the...

The ITAT may, on an application made by the assessee and after considering the merits of the application, pass an order of stay in any proceedings relating to an appeal filed under section 253(1). If...

Introduction – Rectification application maybe filed u/s 154 of the Income Tax Act by the taxpayer in case of any mistake apparent from the record. To file your Rectification, you should be a register...