"07 January 2022" Archive

ACAE Requested due date extension for filing Tax & TP Audit

Association for Corporate Advisers and Executives (ACAE) made a Request for Extension of Due Dates for filing Tax Audit and Transfer Pricing (TP) Reports to as follows:- 1) The due date of furnishing of Report of Audit under any provisions of the Act, which was 30 September 2021, and extended to 15 January 2022 is […]...

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Posted Under: Income Tax | ,

Request to extend due dates of Tax Audit Report & Other forms

Voice Of CA has made a Request for Extension of specified date of filing Tax Audit Report and other forms falling due on or before 15th January, 2022 to Smt Nirmala Sitaraman Ji, Hon’ble Minister of Finance, Government of India. Voice Of CA <voiceofca@gmail.com> Wed, Jan 5, 2022 at 12:52 PM To: fmo@nic.in | Cc: […]...

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Posted Under: Income Tax | ,

UOI Vs. Exide Industries Ltd.: A Constitutionality Check on Section 43B(f) of Income Tax

In recent case of U.O.I v. Exide Industries, the Supreme Court looked over the constitutionality of clause (f) of section 43B which was challenged on the grounds that it defeated the dictum of Bharat Earth Movers case...

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Posted Under: Income Tax |

Sukanya Samriddhi Yojana and Taxation Benefits

As a part of ‘Beti Bachao Beti padhao’ campaign (Save girls, educate girl child campaign), Prime minister Shri Narendra Modi launched a scheme Sukanya Samriddhi Yojana ( Girl Child Prosperity Scheme) on Jan,22 ,2015. -Sukanya Samriddhi Yojana  (SSY) aims to tackle major problem associate with girl child- Education and Marriag...

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Posted Under: Income Tax |

Non Submission of Form 10IC prior to filing of ITR-6 by Companies opting 115BAA

Section 115BAA was introduced in Income Tax Act, 1961 through Taxation Laws Amendment Act 2019, in order to simplify tax laws, according to which companies were given option to pay tax at lower rates. As per sec 115 BAA (5), the option once exercised shall apply to subsequent assessment years. The company is required to […]...

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Posted Under: Income Tax |

Transfer and Transmission of Securities

Transfer of Shares: It refers to intentionally transfer of shares from one person to another. Person who transfers the shares is called transferor and the person who receive the shares known as transferee. Transmission of shares: When shares has been transferred due to operation of law. If the shareholder is dies or lunatic or insolvent, ...

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Posted Under: Income Tax |

Surcharge & Marginal Relief Calculation (Individual, HUF, AOP, BOI, AJP)

Surcharge and Marginal Relief Calculation [Individual, HUF, AOP, BOI, Artificial Juridical Person (AJP)] The Article is confined to discuss the calculation of Surcharge and Marginal Relief thereon in case of Individual, HUF, AOP, BOI and Artificial Juridical person for AY 2022-23 and onwards One can refer to the following link of article ...

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Posted Under: Income Tax |

Guidelines for International Arrivals w.e.f. 11th January 2022

This document provides protocols to be complied by international travellers as well as those to be followed by airlines and all points of entry (airports, seaports and land border). This Standard Operating Procedure shall be valid w.e.f. 11th January 2022 (00.01 Hrs IST) till further orders. Based on the risk assessment, this document sha...

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Posted Under: Income Tax |

19 transfer/postings of officers in the grade of CIT

Office Order No. 07 of 2022-Income Tax 07/01/2022

Office Order No. 07 of 2022-Income Tax The following transfer/postings of the officers in the grade of Commissioners of Income Tax, are hereby ordered with immediate effect and until further orders:...

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18 transfer/postings of officers in JCIT/Additional CIT grade

Office Order No. 06 of 2022-Income Tax 07/01/2022

Office Order No. 06 of 2022-Income Tax- The following transfer/postings of the officers in the grade of Joint Commissioner/Additional Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:...

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