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Union Budget 2021 | Download Budget Memorandum 2021
01 February 2021 at 14:44Finance Minister Smt. Nirmala Sitharaman has presented her third Budget in the parliament today i.e. 1st February 2021. Click the attached link to download the complete Budget Memorandum explaining the provision of the Finance Bill in Detail.
Union Budget 2021 - Relief to Senior Citizens
01 February 2021 at 14:34In the Budget Speech, FM provided relief to senior citizens in the filing of income tax returns, reduced time limit for income tax proceedings, announced setting up of the Dispute Resolution Committee, faceless ITAT, etc.
Union Budget 2021 - Revision in 'Small Companies' Definition
01 February 2021 at 14:34FM proposes to change the definition of a small company by increasing their threshold for paid-up capital, from 'not exceeding 50 lakhs', to 'not exceeding 2 crores' and Turnover from 'not exceeding 2 crores' to ' not exceeding 20 crores'.
GST Audit scrapped as Budget omits section 35(5) from GST Act
01 February 2021 at 14:27GST Audit scrapped as Budget omits section 35(5) from GST Act to allow self-certification. Here is the updated amendment.
Union Budget 2021 | Proposal for Faceless ITAT
01 February 2021 at 14:19For ease of compliance and to reduce discretion, the FM is committed to make taxation process faceless. FM proposes to make the ITAT Faceless. A National Faceless Income Tax Appellate Tribunal Center to be constituted for this purpose.
Union Budget 2021 | Clarification on Scope of Vivad se Vishwas Act, 2020
01 February 2021 at 14:19With a view to remove any ambiguity, the definitions of appellant in section 2(1)(a), disputed tax in section 2(1)(j) and tax arrear in section 2(1)(o), of the VsV are proposed to be amended by way of removal of doubts by this Bill.
Budget Highlights | Key Features of Union Budget 2021-22
01 February 2021 at 14:15The Union Budget 2021 was presented by FM Smt. Nirmala Sitharaman in the parliament today. Discussing some of the key highlights of the Budget including Direct and Indirect Tax Proposals.
CA Final Nov'20 Results declared
01 February 2021 at 13:51The Institute of Chartered Accountants of India has declared the November 2020 CA Final Result. A total of 5675 and 5392 candidates have qualified as CAs from Old and New Group respectively.
Union Budget 2021 | Constitution of Dispute Resolution Committee for small and medium taxpayers
01 February 2021 at 13:46FM proposes to constitute a Dispute Resolution Committee, which will be faceless. Anyone, with a taxable income of up to Rs. 50 lakhs and disputed income of up to Rs. 10 lakhs shall be eligible to approach the committee.
Budget 2021 | Major Amendments in Customs Act, 1962
01 February 2021 at 13:41Discussing the major amendments in the Customs Act, 1962 as laid down by the Union Budget 2021-22, presented in the parliament by FM Smt. Nirmala Sitharaman.
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