Budget 2020 notification

CBIC reduces interest rate for tax periods from Feb to July 2020

Notification No. 05/2020 –Integrated Tax [G.S.R. 410(E)] 24/06/2020

CBIC lowered interest rate for tax periods from February, 2020 to July, 2020 for delayed filing of GSTR 3B vide Notification No. 05/2020 –Integrated Tax Dated 24th June, 2020. Ministry of Finance (Department Of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 05/2020–Integrated Tax New Delhi, the 24th June, 2020...

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Amendment to section 25 of IGST Act, 2017 notified wef 30.06.2020

Notification No. 04/2020 –Integrated Tax [G.S.R. 409(E)] 24/06/2020

CBIC notifies 30th day of June, 2020 as date of applicability of section 134 of Finance Act, 2020 vide which In section 25 of the Integrated Goods and Services Tax Act, 2017, in sub-section (1), in the proviso, for the words ‘three years’, the words ‘five years’ was substituted. Notification No. 04/2020 –Integrat...

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Direct Tax Vivad se Vishwas Act, 2020- FAQs You must Know

Circular No. 09/2020-Income Tax 22/04/2020

It has now been clarified that where only notice for initiation of prosecution has been issued without prosecution being instituted, the assessee is eligible to file declaration under Vivad se Vishwas....

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Corrigenda to Finance Act, 2020

CORRIGENDA to Finance Act 2020- No. 12 of 2020 15/04/2020

CORRIGENDA- THE FINANCE ACT, 2020- NO. 12 OF 2020- In the Finance Act, 2020 (12 of 2020) as published in the Gazatte of India, Extraordinary, Part II, Section 1, issue No. 20 dated the 27th March, 2020-...

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Tax Rate Option exercise by Employee for TDS on Salary & by Business

Circular C1 of 2020 13/04/2020

An employee, having income other than the income under head profit and gains of business or profession and intending to opt for the concessional rate under section 115BAC of the Act, may intimate the deductor, being his employer, of such intention for each previous year and upon such intimation, the deductor shall compute his total income...

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President Assents Finance Act, 2020

NO. 12 OF 2020 27/03/2020

President Assents Finance Act, 2020 on 27th March 2020.  Finance bill 2020 was presented in Lok Sabha on 01.11.2020 and get passed in Lok Sabha on 23.03.2020.  After passing of bill from Lok Sabha the bill was presented in the Rajya Sabha on the same day, which returned the same without consideration, which effectively means […]...

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Download Finance Bill 2020 as passed by Lok Sabha

Bill No. 26-C of 2020 23/03/2020

Lok Sabha passed the Finance Bill 2020 on 23rd March 2020 without discussing the Various Changes Proposed subsequent to Introduction of Finance Bill 2020 in Lok Sabha on 1st February 2020. Also Read-List of Amendments in Finance Bill as passed by Lok Sabha AS PASSED BY LOK SABHA ON 23.03.2020 Bill No. 26-C of 2020 […]...

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Corrigendum to Form-3 of Direct Tax Vivad se Vishwas Rules, 2020

Notification No. 21/2020-Income Tax [S.O. 1195(E)] 20/03/2020

CBDT issues corrigendum to The Direct Tax Vivad Se Vishwas Rules 2020 and notifies that in Form-3, for ‘as per column (7) above within thirty days’, read ‘as per column (8) above within fifteen days’. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM Notification No. 21/2020-In...

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Procedure for declaration & undertaking under Vivad se Vishwas Rules

Notification No. 12 of 2020-DGIT(S) 19/03/2020

DGIT(S)-ADG(S)-3/e-Filing Notification/FoR1/VSVS/2020/ Government of India Ministry of Finance Central Board of Direct Tax Directorate of Income Tax (Systems), New Delhi Notification No. 12 of 2020 New Delhi, the 19th March, 2020 Subject- Procedure for making declaration in Form-1 under sub-rule (1) of Rule 3 and furnishing undertaking i...

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CBDT notifies ‘designated authority under ‘Direct Tax Vivad Se Vishwas Act, 2020

F. No. Pr.CCIT(Intl. Tax)/Delhi/VSV/Designated Authority/2019-20/4707 18/03/2020

Notification of 'designated authority under 'the Direct Tax Vivad Se Vishwas Act, 2020'- Which provides to the 'declarant' a mechanism to resolve disputes under the Income-tax Act, 1961...

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September 2021