CAclubindia News

CGST busts fake ITC racket of Rs 10.68 crore in Mumbai

04 February 2022 at 09:21

CGST Navi Mumbai Commissionerate busts fake ITC racket of Rs. 10.68 Crore, arrests proprietor of a steel firm

Posted in GST | 5112 Views

New functionalities deployed on the GST Portal for taxpayers in January 2022

04 February 2022 at 09:21

New Functionalities made available for Taxpayers on GST Portal (January, 2022)

Posted in GST | 3 comments | 8010 Views

MCA Advisories / Updates for LLPs

04 February 2022 at 09:21

Ministry of Corporate Affairs (MCA) has taken various initiatives to serve industry in better way.

Posted in Corporate Law | 3960 Views

Sec 115BBD: Withdrawal of concessional taxation rate on dividend income

03 February 2022 at 17:25

Withdrawal of concessional rate of taxation on dividend income under section 115BBD1. Section 115BBD of the Act provides for a concessional rate of tax of 15 % on the dividend income received by an Indian company from a foreign company in which the s

Posted in Union Budget | 5226 Views

IT exemption under certain clauses of Sec 10 withdrawn

03 February 2022 at 17:24

Withdrawal of exemption under clauses (8), (8A), (8B) and (9) of section 10 of the Income-tax Act, 1961- reg1. Clause (8) of the section 10 of the Act provides for exemption to the income of an individual who is assigned duties in India in connection

Posted in Union Budget | 1 comments | 2712 Views

Sec 276BB to be included for prosecution against persons failing to pay TCS

03 February 2022 at 17:24

Alignment of the provisions relating to Offences and Prosecutions under Chapter XXII of the ActSections 269UC/UE/UL along with other provisions of Chapter XX-C have been made inapplicable with effect from 01.07.2002. Vide Finance Act, 2002, section 2

Posted in Union Budget | 2115 Views

Scope of Sec 285B widened to expand the reporting requirements in Form 52A

03 February 2022 at 17:24

Widening the scope of reporting by producers of cinematograph films or persons engaged in specified activities

Posted in Union Budget | 1710 Views

Budget 2022: Provisions of Sec 68 proposed to be amended

03 February 2022 at 17:24

Cash credits under section 68 of the Act1. Section 68 of the Act provides that where any sum is found to be credited in the books of an assessee maintained for any previous year, and the assessee offers no explanation about the nature and source ther

Posted in Union Budget | 2169 Views

Budget 2022 bans bonus stripping of shares, units of RETIs, InvITs

03 February 2022 at 17:24

Provisions pertaining to bonus stripping and dividend stripping to be made applicable to securities and units1. Section 94 of the Act contains anti-avoidance provisions to deal with transactions in securities and units of mutual fund which, inter-ali

Posted in Union Budget | 2271 Views

Amendment of Clause (42C) to substitute word "sales" with "transfer"

03 February 2022 at 16:03

Definition of the term "slump sale"1. Slump sale is defined in clause (42C) of section 2 of the Act, as the transfer of one or more undertaking, by any means, for a lump sum consideration without values being assigned to individual assets a

Posted in Union Budget | 1677 Views