Income Tax : Recent change in Finance Act 2021 in Section 45(4) and Section 9B will have far reaching impact on taxability of firm and other sp...
Income Tax : Consequence for failure to deduct/collect or payment of tax – Computation of interest Section 201 of the of the Act deals with t...
Income Tax : Taxation on Income from Virtual Digital Assets i.e. Crypto/ Crypto Currency (Effective for the AY 2023-24) These are specific se...
Income Tax : 1. Section 139(1)(a) explanation has been amended which reads as under: – Explanation 2- In this sub section due date means,...
Income Tax : 1. Section 11(1)(d) has been amended which reads as under: – Income in the form of voluntary contribution made with the spec...
Income Tax : Finance Act, 2021 has inserted specific section 89A in the Income-tax Act, 1961 to provide relief to NRI taxpayers who have an iss...
Income Tax : DTPA has made a representation to Finance Minister, Smt. Nirmala Sitharaman and requested for for recalling notices under section...
Income Tax : The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi gives ex-post facto approval for the Government amendments to ...
Finance : The Budget Session, 2021 of Parliament, which commenced on Friday, 29th January 2021, has been adjourned sine die today i.e. Thur...
Income Tax : The Finance Minister, Smt. Nirmala Sitharaman, has introduced ‘Notice of Amendments’ to the Finance Bill, 2021 in the Lok Sabh...
Goods and Services Tax : Learn about the provisions of section 123 of the Finance Act 2021 and the amendment of section 16 of CGST Act 2017. Effective date...
Finance : Govt notifies CORRIGENDA to Finance Act, 2021 vide Notification No. 13 of 2021 Dated 29th December, 2021 and issued and rectified ...
Finance : MINISTRY OF FINANCE (Department of Financial Services) NOTIFICATION New Delhi, the 29th June, 2021 S.O. 2616(E).—In exercise of ...
Income Tax : MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi CORRIGENDUM Dated: 15th April, 2021 THE FINANCE ACT, 2021 NO. 13 OF...
Excise Duty : Seeks to amend central excise notification No.28/2002-Central Excise, dated the 13th May, 2002, 11/2017-Central Excise, dated the ...
The budget presented on Ist Feb 2021 has brought apparently some good news for the assesses but adverse news for the professionals like CMAs and CAs on GST front with regard to discontinuance of GST audit as the professionals had put in lot of labour to streamline the GST mechanisms in the organisations during GST […]
Budget 2021- Seeks to prescribe effective rate of Agriculture Infrastructure and Development Cess for specified goods. – Notification No. 11/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 11/2021-Customs New Delhi, the 1st February, 2021. G.S.R.69(E).– In exercise of the powers conferred by sub-section (1) of section 25 […]
Budget 2021- Project Imports (Amendment) Regulations, 2021– Notification No. 10/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 10/2021-Customs New Delhi, the 1st February, 2021 G.S.R. 68(E).- In exercise of the powers conferred by section 157 of the Customs Act, 1962 (52 of 1962), the Central Board of […]
Budget 2021– Seeks to further amend No. 42/96 – Customs, dated the 23rd July, 1996 so as to make suitable amendments to the list of specified projects under heading 9801 of the First Schedule to the Customs Tariff Act (CTA). – Notification No. 9/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT […]
Budget 2021– Seeks to further amend notification No. 153/94-Customs dated 13th July, 1994 so as to include temporary imports of costumes and props for film-making, in the goods exempted by the said notification– Notification No. 8/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 08/2021-Customs New Delhi, the […]
Budget 2021– Seeks to rescind notification Nos. 1/2011-Customs, dated the 6th January, 2011, 34/2017-Customs, dated the 30th June, 2017 and 75/2017-Customs, dated the 13th September, 2017– Notification No. 7/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (Department of Revenue) Notification No. 07/2021-Customs New Delhi, the 1st February, 2021 G.S.R. 65(E).– In exercise […]
Several changes have been proposed in the Finance Bill, 2021 with respect to GST. Following is the brief summary of the same along with our remarks. It may be noted that the amendments proposed in the Finance Bill, 2021 will come into effect from the date when the same will be notified, as far as […]
Budget 2021- Seeks to further amend notification No. 08/2020-Customs dated 2nd February, 2020 so as to exempt the medical devices imported by international organizations and diplomatic missions, from the levy of Health Cess – Notification No. 6/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 06/2021–Customs New Delhi, […]
Budget 2021- Seeks to further amend notification No. 24/2005-Customs dated 1st March, 2005 so as to clarify the scope of exemption under entry at S. No. 13S of the said notification- Notification No. 5/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 05/2021– Customs New Delhi, the 1st […]
Budget 2021- Seeks to further amend notification No. 25/99-Customs dated 28th February, 1999 so as to withdraw BCD exemption on the specified parts of transformers- Notification No. 4/2021-Customs Dated 1st February, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 04/2021-Customs New Delhi, the 1st February, 2021 G.S.R.62(E). – In exercise of […]
