Income Tax : Learn how to use Form 29D to claim a refund of tax deducted under Section 195 for non-residents. Find out about the recent amendme...
Income Tax : Updated Income Tax Return has been introduced by inserting a new sub-section (8A) to Section 139 of Income Tax Act, 1961 to prov...
Income Tax : Analyze Section 194R of the Income Tax Act, 1961 and its applicability from 01/07/2022. Learn about TDS on benefits or perquisites...
Income Tax : Understand the concept of Updated Return under section 139(8A) of the Income Tax Act. File corrected returns, reduce losses, and r...
Income Tax : The President has given assent on 31 March 2022, to the Finance Bill, 2022 passed by the Parliament with certain amendments. The k...
Income Tax : 1. Income Tax Department brings reforms for Cooperatives! Alternate Minimum Tax for cooperative societies reduced to 15% to bring ...
Income Tax : Union Finance Minister Government has proposes 39 amendments to Finance Bill, 2022 Smt. Nirmala Sitharaman has proposed 39 amendme...
Finance : Union Finance Minister Nirmala Sitharaman said that Union Budget 2022-23 recognises and encourages the potential of youth, their...
Finance : Finance Minister Nirmala Sitharaman chairs post-Budget meeting with heads of Banks, NBFCs and Financial Institutions. Finance Mini...
CA, CS, CMA : We here in, would like to bring to your kind notice, few of the issues which might be faced by taxpayers and Chartered accountants...
Income Tax : Dhanwan Leasing and Finance Vs ITO (ITAT Indore) Section 68 of the Act provides that where any sum is found to be credited in the ...
Goods and Services Tax : Central Government hereby appoints the 1st day of October, 2022, as the date on which the provisions of sections 100 to 114 of Fin...
Income Tax : CBDT Notifies vide Notification No. 48/2022-Income Tax Dated- 29.04.2022 Form and Manner for filing updated Income Tax return. Upd...
Income Tax : Finance Act, 2022 received the assent of the President on the 30th March, 2022. Full text of the same is as follows:- MINISTRY O...
Custom Duty : Circular No. 3/2022-Customs No. CBIC-190354/262/2021-TRU Section-CBEC Government of India Ministry of Finance Department of Revenu...
Income Tax : FM Nirmala Sitharaman’s presented her fourth budget today i.e. on 1st February 2022. In budget FM has introduced Tax on Virtua...
FM Nirmala Sitharaman’s presented her fourth budget today i.e. on 1st February 2022. In budget FM has introduced Tax on Virtual Currencies, Introduces no change in Tax Rate for Individuals, Provided relief on Surcharge on LTCG etc. AS INTRODUCED IN LOK SABHA ON 1st FEBRUARY, 2022 Bill No. 18 of 2022 THE FINANCE BILL, 2022 […]
BUDGET HIGHLIGHTS: – ‘This budget will provide impetus for growth‘ FM Sitharaman -Corporate surcharge to be reduced from 12% to 7% -Spectrum auction to be conducted for 5G rollout within 2022-23 -GST collections for January 2022 highest ever at Rs 1,40,000 crore -Both Centre and States govt employees’ tax deduction limit to be increased from […]
Budget updates – Direct Tax 1. Provision for filing ‘Updated Income Tax returns’ within 2 years from end of relevant AY. 2. Reduced AMT rates for Co-operatives from 18.5% to 15%. 3. Reduced surcharge for Co-operatives with total income of 1cr to 10Cr 4. Tax relief for persons with disability: Allow annuity payment to differently […]
Seeks to supersede notification No. 49/2008-Central Excise (N.T.) dated 24.12.2008, in order to align it with the current legal position, post roll-out of GST vide Notification No. 01/2022 -Central Excise (N.T.) Dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE […]
Seeks to further amend Notification No. 11/2017- Central Excise, dated 30th June, 2017, to increase Basic Excise Duty on Unblended Petrol and Diesel, in order to promote Blending in the country vide Notification No. 01/2022 -Central Excise Dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. GOVERNMENT OF […]
Seeks to rescind the countervailing duty (CVD) imposed on imports of Certain Hot Rolled and Cold Rolled Stainless Steel Flat Products originating in or exported from China PR which was imposed by vide Notification No. 1/2017- Cus (CVD) dated 07.09.2017. CBIC notifies Notification No. 1/2022-Customs (CVD) dated 1st February, 2022 to give effect to above […]
Seeks to further amend Customs (Import of Goods at Concessional Rate of Duty) Rules, 2017 so as to simplify and automate the procedures vide Notification No. 07/2022-Customs (N.T.) dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE […]
Seeks to rescind the anti-dumping duty imposed on imports of Flat rolled product of steel, plated or coated with alloy of Aluminum or Zinc originating in or exported from China PR, Vietnam and Korea RP vide Notification No. 16/2020-Cus (ADD) dated 23.06.2020 vide Notification No. 07/2022-Customs (ADD) Dated 1st February, 2022 to give effect to […]
seeks to rescind the anti-dumping duty imposed on imports of High Speed Steel of Non-Cobalt Grade originating in or exported from Brazil, China PR and Germany vide Notification No. 38/2019-Cus (ADD) dated 25.09.2019 vide Notification No. 06/2022-Customs (ADD) Dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. […]
Seeks to rescind the anti-dumping duty imposed on imports of Straight Length Bars and Rods of alloy steel originating in or exported from China PR vide Notification No. 54/2018-Cus (ADD) dated 18.10.2018 vide Notification No. 05/2022-Customs (ADD) Dated 1st February, 2022 to give effect to Changes prescribed vide Union Budget 2022-23 i.e. Finance Bill 2022. […]
