News
Condonation of delay under section 119(2)(b) allowed in filing Form 10B and Form 10 for AY 2018-19 and onwards
CBDT has vide circular no. 16/2022 and 17/2022 Dt. 19.07.2022 allowed assessee to file condonation application in relation to Form...
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Overseas investment rules and regulations notified by Ministry of Finance
The revised regulatory framework for overseas investment provides for simplification of the existing framework for overseas investment and has been...
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ICAI releases updated guidance note on Tax audit under section 44AB along with clause 44 of Form 3CD
ICAI has also talked about Clause 44 of Form 3CD in its guidance note on Tax audit - 2022 edition,...
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Daily backup of electronic accounts now mandatory for all companies | Physical verification of companies registered address by MCA
Important takeaway from above amendment are as under: 1. The relevant books of accounts and records in electronic format needs...
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Due date for filing Form 67 to get Foreign tax credit in India revised from AY 2023-24
For claiming foreign tax credit, as per Income Tax rules assessee is required to file Form 67 on e-filing portal...
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How to e-verify Income tax return through Net Banking | E-filing portal
The traditional method to verify Income Tax return is to sign and send the Income tax return to CPC, Bangalore....
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RRR number or Token number of TDS return filed not available if TDS return filed on e-filing portal
On successful filing the TDS return an RRR number would be generated on e-filing portal which the tax deductor has...
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Income Tax Department conducts searches in Maharashtra on two major groups engaged in the manufacturing of steel TMT Bars
The initial analysis of seized evidences of both the groups has revealed that they were engaged in large scale tax...
Read moreIncome Tax Department conducts searches in Jaipur, Rajasthan on a group engaged in the business of gems and jewellery, hospitality and real estate
A preliminary investigation indicates that the group has indulged in generation of unaccounted income exceeding Rs. 150 crore. So far,...
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No new loss can be claimed in revised return which was not claimed in original return – Supreme Court
The assessee can file a revised return in a case where there is an omission or a wrong statement. But...
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New Functionalities introduced in GST website – July 2022
Allow taxpayer to enter multiple trade name: ·Earlier only a single Trade Name was being captured during New Registrations and...
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Any money or property received on death of person by family member is not liable to Income tax u/s 56(2)(x) [Read notification]
As per proviso to section 56(2)(x) any amount of money or property received by the family member of a deceased...
Read moreBooks of accounts which needs to be maintained by trust registered under section 12A/ 12AA/ 12AB or institution u/s 10(23C) [Read notification]
(a) books of account, including the following, namely: - (i) cash book; (ii) ledger; (iii) journal; (iv) copies of bills,...
Read moreIncome Tax Department conducts searches in Madhya Pradesh
Evidence gathered during the search further reveals that some benamidars have been made partners in a firm doing the sand...
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Part 3 – Deductions and Payment of Bonus | Code on wages, 2019 | Labour law
Eligibility: Every employee drawing wages not exceeding such amount as determined by notification by the appropriate government and has at...
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GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning
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How to pay Membership and COP fees of ICAI for 2020-21 |
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Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods
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Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020
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SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type
- Taxation and Income tax return of Foreign Companies Earning Income from India under special rates
- Income Tax Department’s NUDGE Initiative 2025-26: A Clear Warning for Taxpayers to Ensure Accurate Reporting
- Notice from Income tax department e-verification cell for non-filing ITR. How to respond
- Default under TDS for 20% TDS or short deduction? Here is a relief from non-linking of Aadhar-PAN
- Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?
- Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws
- Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
- ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
- Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
- No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
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