The timeline to update UDIN is extended till 30th Sep 2022 to give more time to CAs to correctly verify and upload UDINs.
It is not the matter of mere initiation of refund under the CGST Act only, rather now it appears to have become an offence punishable under Sections 420/467/468/471 of IPC wherein the maximum punishment prescribed is imprisonment for life.
New TDS Provisions (Section 194R and section 194S of Income-tax Act, 1961) are applicable from 01.07.2022.and inserted vide Finance Act 2022.
Notification No. 75/2022- (Income-tax) | Dated: 30th June, 2022– CBDT specifies a token which qualifies to be a virtual digital asset as non-fungible token within the meaning of sub-clause (a) of clause (47A) of section 2 of the Act but shall not include a non-fungible token whose transfer results in transfer of ownership of underlying […]
Amendment of Income Tax rule 31A and insertion of Form No. 26QF (Quarterly statement of tax deposited in relation to transfer of virtual digital asset under section 194S to be furnished by an exchange for the quarter) vide Notification No. 73/2022- Income Tax Dated 30th June, 2022. Notification below is updated with subsequent Corrigendum Notification […]
Gopi Kishan S/o Shri Chagan Lal Vs State Of Rajasthan (Rajasthan High Court) The case of petitioner-Rani Dan, Advocate, when seen in light of the precedential backdrop, and more particularly when it is apparent on the face of the record that the role of the said petitioner, in the present case, was exercised only as […]
A critical analysis of the recommendations made during the 47th GST Council Meeting. Gain insights into the changes in rates, laws, and procedures in GST.
Revision of interest rates for Small Savings Schemes for Q2 of 2022-23 (i.e. from 1st July 2022 to 30th September 2022) Interest rates of small saving schemes for the Second quarter of financial year 2022-23 starting from 1st July, 2022 and ending on 30th September, 2022 shall remain unchanged from the current rates applicable for […]
Thus, note that reporting was kept in abeyance if tax audit report was filed before 31.03. 2022.Hence for F.Y 2021-22 reporting of the above-mentioned clauses is mandatory now from 01.04.2022 subject to any change and extension as and when notified by the Income tax Department of India.
GoM on Casino, Race Course and Online Gaming to re-examine the issues based on further inputs from States and submit its report within a short duration GoM to be constituted to address various concerns raised by the States on GST Appellate Tribunal and amendments in CGST Act GoM on IT Reforms, inter alia, recommended that […]
