CAclubindia News

Extension of closing date of late fee amnesty scheme and time limit for filing of application for revocation of cancellation of registration under GST Act

30 August 2021 at 05:59

Extension of the closing date of late fee amnesty scheme and extension of time limit for filing of application for revocation of cancellation of registration will benefit a large number of taxpayers who could not file their returns in time.

Posted in GST | 7044 Views

For FY 2021-22, IT Department has issued refunds of over Rs. 51,531 crore upto 23rd August 2021

30 August 2021 at 05:58

To date, 93% of the refund claims in ITRs for AY 20-21 have already been processed. In the past week, refunds of over Rs. 15,269 crore have been issued which will be credited to taxpayers shortly.

Posted in Income Tax | 2142 Views

CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961

29 August 2021 at 16:30

On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961, CBDT has decided to further extend the due dates for electronic filing of such Forms.

Posted in Income Tax | 1 comments | 33993 Views

Date of payment under the Direct Tax Vivad se Vishwas Act, 2020 extended to 30th September 2021

29 August 2021 at 16:29

Considering the difficulties being faced in issuing and amending Form no 3, it has been decided to extend the last date of payment of the amount (without any additional amount) to 30th September 2021.

Posted in Income Tax | 4494 Views

Draft notification for framing of rules for the amendments made by the Taxation Laws (Amendment) Act, 2021

29 August 2021 at 07:30

The amendment made by the 2021 Act also provides that the demand raised for offshore indirect transfer of Indian assets made before 28th May 2012 shall be nullified on fulfilment of specified conditions.

Posted in Income Tax | 4206 Views

ICSI propels support initiatives for its Members

27 August 2021 at 05:58

The schemes aimed at benefitting more than 65,000 Company Secretaries across India, would provide collateral free Term Loan facility and Non- Linked, Non-Participating, Pure Life Term Insurance Plan, to members, both in employment and in practise.

Posted in Professional Resource | 2040 Views

Advisory on HSN and GSTR-1 Filing

27 August 2021 at 05:55

In accordance with Notification No. 78/2020 - Central Tax, dated October 15, 2020, taxpayers need to declare Harmonised System of Nomenclature (HSN) Code of Goods and Services supplied by them on raising of tax invoices, with effect from 1st April 2021.

Posted in GST | 9132 Views

Implementation of Rule-59(6) on the GST Portal

27 August 2021 at 05:50

This Rule will be implemented on GST Portal from 1st September, 2021. On implementation of the said Rule, the system will check that whether before the filing of GSTR-1/IFF of a tax-period, the following has been filed or not.

Posted in GST | 1 comments | 10425 Views

RBI extends the scope of tokenisation to include consumer devices like laptops, desktops, wearables etc.

26 August 2021 at 05:47

On a review of the framework and keeping in view stakeholder feedback, it has been decided to extend the scope of tokenisation to include consumer devices – laptops, desktops, wearables (wrist watches, bands, etc.), Internet of Things (IoT) devices, etc.

Posted in Others | 1593 Views

Cabinet approves MoU between ICAI and Institute of Professional Accountants of Russia (IPAR)

25 August 2021 at 18:24

The proposed MoU aims to strengthen cooperation in matters of accountancy profession through exchange of views, information in respect of Professional Accountancy Training, Professional Ethics, Technical Research, Professional Development of Accountants.

Posted in Professional Resource | 1788 Views