Members are aware that the CBDT vide its press release dated 26th November 2020 has mandated the validation of the Unique Document Identification Number (UDIN) generated from ICAI portal in all the Income Tax Form and Audit Reports uploaded at the e-filing portal.
Naresh Kabra “Is HINDI a ‘Vernacular Language’?” (Core issue w.r.t New process of registration of Charitable Institution Under Income-tax) OVERVIEW: This is with reference to the new process of registration of 12AB, approval of 80G and 10(23C) under Income-tax 1961, as per ‘The Income-tax (6th Amendment) Rules, 2021‘ notified by Central Board of Direct Taxes […]
Central Government, in consultation with the Chief Justice of the High Court of Tripura, hereby designates the Court of the Additional Chief Judicial Magistrate, West Tripura as the Special Court for the State of Tripura for the purposes of section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, […]
Central Government, in consultation with the Chief Justice of the Gauhati High Court, hereby designates the Court of Munsiff No. 3-cum-Judicial Magistrate, First Class, Kamrup (M), Guwahati as the Special Court for the States of Assam, Nagaland, Mizoram and Arunachal Pradesh for the purposes of section 84 of the Black Money (Undisclosed Foreign Income and […]
Segregation of client collateral refers to the procedures that enable identification and protection of client collateral from- (i) misappropriation/ misuse by Trading Member (TM)/ Clearing Member (CM) and (ii) default of TM/CM and/or other In the past, there have been instances of misuse of client collateral by TM/CM.
In exercise of the powers conferred by Section 12 of International Financial Services Centres Authority Act, 2019, the IFSCA advises below the fee structure applicable for IFSC Banking Units (BUs):
It is factually incorrect to state that there is no provision for expenditure on COVID-19 vaccination by the Central Government. The amount of Rs. 35,000 crore has been shown under the Demand for Grants No. 40, titled ‘Transfers to States’.
It has been decided that Regional Authorities (RAs) of DGFT will not insist on valid RCMC (in cases where the same has expired on or before 31st March, 2021) from the applicants for any incentive/authorizations till 30 September, 2021.
1. All statutory dates under GST and Income Tax by which either tax is to be paid or return has to be filed, maybe extended till 31st August, 2021. 2. Challan should be treated at a document of payment and not Form GSTR-3B under GST. this will encourage the tax payer to pay tax early and the government too will get the taxes in time.
CBDT amends Notification No. 35/2021-Income Tax dated the 22nd April, 2021 and stated that the word ‘Canada Pension Plan Investment Board Private Holdings (4) Inc.’ should be read as ‘CPP Investment Board Private Holdings (4) Inc.’ Notification No. 58/2021-Income Tax Dated: 10th May, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) […]
