Guidelines

Manual Income Tax complete Scrutiny criteria for F.Y. 2019-20

F.No.225/169/2019/ITA-11 (05/09/2019)

The parameters for manual selection of returns for Complete Scrutiny during financial year 2019- 20 are as under.- (i) Cases involving addition in an earlier assessment year(s) on a recurring issue of law or fact:- (a) exceeding Rs. 25 lakhs in eight metro charges at Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai a...

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SVLDRS declarations to be handled by Designated Committees

SVLDRS Advisory No. 01/2019 (30/08/2019)

As you may be aware. the `Sabka Vishwas Legacy Dispute Resolution Scheme’ will come into effect on 1st September 2019. There will be two Designated Committees in each Commissionerate to handle the declarations made under this scheme. DIRECTORATE GENERAL OF SYSTEMS & DATA MANAGEMENT CENTRAL BOARD OF INDIRECT TAXES & CUSTOMS 4...

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Guidelines on operational issues pertaining to Regulatory Sandbox

INSURANCE REGULATORY AND DEVELOPMENT AUTHORITY OF INDIA IRDAI/INT/GDL/RSB/139/08/2019 22nd August, 2019 Guidelines on operational issues pertaining to the Regulatory Sandbox As per Regulation 13(3) of the IRDAI (Regulatory Sandbox) Regulations, 2019, the Authority hereby issues the following guidelines on operational issues pertaining to...

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12 Bullet points on Annual GST Return and Reconciliation Statement

Central GST Trade Advisory August, 2019 (21/08/2019)

As you all must be aware, the due-date to file the Annual Return and Reconciliation Statement i.e. 31st August, 2019 is fast approaching. As this is the first time Annual Return is being filed, the due-date had already been extended many times before by the government to give sufficient time to get accustomed and familiar with the Return....

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Clarification on amendment in Section 44AE of Income Tax Act, 1961

F.No. 225/233/2019/ITA-II (14/08/2019)

Which of the following has to be considered while calculating the presumptive income under section 44AE of the Income-tax Act.1961 (Act) in the context of amendment made in sub-section (2) of section 44AE of the Act vide Finance Act, 2018 w.e.f. 01.04.2019....

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IBBI prescribes CPE requirement for IP Professionals

NA (06/08/2019)

(a) An IP shall undertake CPE in compliance with these Guidelines to keep his registration valid. (b) Authorisation for assignment shall not be issued or renewed to an IP who fails to comply with these Guidelines. (c) These Guidelines shall not apply to IPs who have completed the age of 65 years....

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Guidelines for Compounding of Income Tax Offences under Direct Tax Laws, 2019

F.No. 285/08/2014-IT(Inv.V)/147 (14/06/2019)

Compounding of offences is not a matter of right. However, offences may be compounded by the Competent Authority on satisfaction of the eligibility conditions prescribed in these Guidelines keeping in view factors such as conduct of the person, the nature and magnitude of the offence in the context of the facts and circumstances of each c...

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Amendment of Rules for Profit attribution to PE: CBDT invites comment

F. No. 500/33/2017-FTD.I (18/04/2019)

Public Consultation on the proposal for amendment of Rules for Profit attribution to Permanent (PE) Establishment invited by CBDT. Under Article 7 in the Indian treaties, profits are to be attributed to the PE as if it were a distinct and separate entity on the basis of the accounts of the PE and where such accounts are not available to e...

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Guidelines for representation of cases before CIT(A)

F.No.279/Misc/M-124/2018-ITJ (14/02/2019)

Undersigned is directed to state that since the monetary limit of tax effect for filing of appeals to ITAT against the order of CIT(A) has been raised to Rs. 20 lakhs vide CBDT Circular No 3 of 2018 dated 11.7.2018, it is expedient that the cases are properly defended before the CIT(A), as the department will have no recourse to any appea...

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How to avail 8% GST on Affordable Housing

F.No. 354/52/2018-TRU (07/05/2018)

Authenticated document to be relied upon by the developer to charge concessional rate of GST on CLSS housing. Requirement of specific approval/ certificate for residential projects to qualify as `Infrastructure status'...

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