-
Posted Date : 01-Apr-2021 , 08:56:11 am | Posted By CASANSAAR
In view of the COVID-19 pandemic, certain time limits specified under the various tax and Benami laws have been extended by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 and subsequent notifications issued under this Act. The extended last date for intimat...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 430
-
Posted Date : 24-Mar-2021 , 10:05:28 am | Posted By CASANSAAR
Finance Minister Nirmala Sitharaman on Tuesday raised the limit for tax exemption on interest earned on provident fund contribution by employees to Rs 5 lakh per annum in specified cases as against Rs 2.5 lakh proposed in the Budget. In her Budget for 2021-22, Sitharaman had capped the tax-free inte...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1797
-
Posted Date : 18-Mar-2021 , 10:36:14 am | Posted By CASANSAAR
Download List of Important Circulars for the Purpose of Bank Audit. Shared by CA. Ajay Kumar Jain Ji, Download Telegram on Mobile and Search casaansaar Here is the link, Open in Mobile. https://t.me/casaansaar/92...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1935
-
Posted Date : 18-Mar-2021 , 08:51:52 am | Posted By CASANSAAR
Section 115AD of the Income-tax Act, 1961 (the ‘Act’) inter alia contains provisions for taxation of income of FPIs. Proviso to section 115AD(1)(i) provides that the tax shall be chargeable at the concessional rate of 5% on interest income referred to in section ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 406
-
Posted Date : 14-Mar-2021 , 09:31:53 am | Posted By CASANSAAR
Banks, stock exchanges and companies will have to share data on large investor transactions with the Income Tax Dept as frequently as sought by a designated official, according to rule change notified by the Income Tax Department on Friday. Till now, these entities were only mandated to give a st...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1068
-
Posted Date : 12-Mar-2021 , 10:37:56 am | Posted By CASANSAAR
GST officers have arrested one person for creating fictitious firms on forged documents and passing on fake ITC worth Rs 43 crore, Finance Ministry said on Thursday. The Directorate General of GST Intelligence (DGGI) Gurugram Zonal Unit (GZU), Haryana, has arrested Ravinder Kumar (aka Ravinder Ga...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 544
-
Posted Date : 08-Mar-2021 , 08:39:49 am | Posted By CASANSAAR
The CBIC has directed its field offices to exercise utmost prudence and maximum caution in attachment of property of a taxpayer and said that such a remedy can be considered in cases involving GST evasion, fake invoicing and delay of more than three months in depositing tax collected. The Central...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 390
-
Posted Date : 05-Mar-2021 , 08:49:43 am | Posted By CASANSAAR
The Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. Search operation is being carried out at Mumbai, Pune, Delhi and Hyderabad. The group...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 486
-
Posted Date : 01-Mar-2021 , 09:12:38 am | Posted By CASANSAAR
Chartered Accountant firms and hospitals are under scrutiny after the revenue department found mismatches between their income tax and indirect tax filings. Tax authorities have also decided to slot consultant doctors as ‘intermediaries’ for taxation purposes even as medical services ...
Continue Reading... Category : Income Tax | Comments : 1 | Hits : 2382
-
Posted Date : 01-Mar-2021 , 08:55:02 am | Posted By CASANSAAR
The re-appointment of Pramod Chandra Mody as Chairman of the Central Board of Direct Taxes (CBDT) has been extended for a further period of three months, said Department of Personnel and Training, the Government of India on Sunday. Mody is a 1982-batch Indian Revenue Service officer, was appointe...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 739
-
Posted Date : 17-Feb-2021 , 09:23:30 am | Posted By CASANSAAR
The Finance Ministry sees tax implications in crypto-currency trading. However, it is clear that levying a tax does not mean the government is legalising private crypto-currencies. Minister of State for Finance Anurag Thakur said that a comprehensive Bill on cryptocurrencies will fill all the gap...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 487
-
Posted Date : 11-Feb-2021 , 08:31:53 am | Posted By CASANSAAR
The Supreme Court (SC) has today directed a representation to be made to the Central Board of Direct Taxes (CBDT) on relief to be given to non-resident Indians (NRIs) in terms of the payment of tax under the Income Tax (I-T) Act for FY21 amid Covid-19. Several NRIs, stuck in the country due to Co...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1215
-
Posted Date : 20-Jan-2021 , 10:39:15 am | Posted By CASANSAAR
The Supreme Court on Tuesday upheld amendments to the Insolvency and Bankruptcy Code (IBC) that introduced a minimum threshold of 100 home buyers or 10% of the total allottees of a project, whichever was lower, for initiating the insolvency process against a defaulting developer. The homebuyers h...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 861
-
Posted Date : 18-Jan-2021 , 09:32:32 am | Posted By CASANSAAR
In its biggest bribe-trap case, the CBI arrested the chief administrative officer (construction) of the Northeast Frontier Railways on Sunday for allegedly receiving Rs. one crore for granting favours in awarding lucrative contracts to a private company, officials said. Mahender Singh Chauhan, a ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 475
-
Posted Date : 15-Jan-2021 , 09:22:47 am | Posted By CASANSAAR
The Gujarat High Court has rejected a plea seeking extension of deadline for filing of returns but observed that the CBDT may take a lenient view on penalty for late filing of tax audit reports. The Income Tax Department had on Monday rejected demand for further extension of the deadline for fili...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 471
-
Posted Date : 14-Jan-2021 , 09:07:02 am | Posted By CASANSAAR
The Income Tax Department has brought out a "faceless penalty scheme" to handle recommendations for penalty issued under its faceless assessment programme. The scheme notified on Tuesday seeks to ensure that any order arising from faceless assessment of taxable income is fool proof and ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 532
-
Posted Date : 11-Jan-2021 , 09:22:49 am | Posted By CASANSAAR
A special unit has been created by the government in the countrywide investigation wings of the Income Tax department for focussed probe in cases of undisclosed assets held by Indians abroad and possession of black money in foreign shores, officials said. The Foreign Asset Investigation Units (FAIUs...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 534
-
Posted Date : 07-Jan-2021 , 10:00:07 am | Posted By CASANSAAR
The National Company Law Tribunal (NCLT), Chennai, has allowed the restoration of a city-based Real Value Realties India Private Limited, which was struck off from Registrar of Companies, after the Income Tax Department pleaded that the company had pending dues. The company was struck off in 2017...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 1445
-
Posted Date : 31-Dec-2020 , 09:02:50 am | Posted By CASANSAAR
In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 whi...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 718
-
Posted Date : 30-Dec-2020 , 07:49:32 pm | Posted By CASANSAAR
1. The due date for furnishing of ITR for AY 2020-21 for the taxpayers (including their partners) who are required to get their accounts audited, companies and the taxpayers who are required to furnish report in respect of international/specified domestic transactions has been further exte...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 411
-
Posted Date : 26-Dec-2020 , 10:08:49 am | Posted By CASANSAAR
The Income Tax department has launched a nationwide campaign to identify people who have deliberately chosen to ignore the notices calling for enquiry and verification of the tax returns, to catch tax evaders and collect due taxes and penalties from them. Sources in the revenue department say tha...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 5647
-
Posted Date : 21-Dec-2020 , 10:42:25 am | Posted By CASANSAAR
Tweet / Retweet Karo Jhat Se, Date Extend Hogi Pat Se. Resp. @nsitharaman Ji, Every one waiting for your Tweet / Notification for Dates Extension. @IncomeTaxIndia @FinMinIndia @ianuragthakur @casansaar @cbic_india #ITRFileKaroJhatpat #DatesExtendKaroJha...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 810
-
Posted Date : 18-Dec-2020 , 09:25:45 am | Posted By CASANSAAR
Exclusive email ID- "feedback.notice.neac@incometax.gov.in" enabled to register grievance regarding S. 142(1) notices (including roving questionnaires) issued under the Faceless Assessment Scheme 2019. The grievances received in the said email shall be closely monitored by a team of off...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 713
-
Posted Date : 17-Dec-2020 , 09:12:20 am | Posted By CASANSAAR
Tax professionals have urged the government to extend various deadlines under the Income Tax Act for assessment year 2020-21 and for filing annual reconciliation statement under the Goods and Services Tax Act for the years ending March 2019 and March 2020. CA Sansaar &nbs...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 727
-
Posted Date : 14-Dec-2020 , 09:40:34 am | Posted By CASANSAAR
The Madras High Court has quashed the Income Tax proceedings initiated against Karti Chidambaram, son of former Union Finance Minister P Chidambaram,and his wife over alleged non-disclosure of cash transactions of about Rs seven crore following sale of a property near here. The Court, while rulin...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 252
-
Posted Date : 09-Dec-2020 , 10:58:54 am | Posted By CASANSAAR
Criticism of the government, even in the strongest terms, must be protected from criminal prosecution under charges of hate speech or public mischief, ruled the Supreme Court on Monday, outlining the contours of hate speech and constitutionally--protected freedom of expression. In a 128-page judg...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 576
-
Posted Date : 09-Dec-2020 , 10:56:38 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has cancelled the licence of Karad Janata Sahakari Bank, Karad, in Maharashtra, with effect from the close of business from December 7. With the cancellation of licence and commencement of liquidation proceedings, the process of paying the depositors of the bank as...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 332
-
Posted Date : 05-Dec-2020 , 10:24:05 am | Posted By CASANSAAR
Finance minister Nirmala Sitharaman on Friday signalled that the Centre may push to limit changes in goods and services tax rates by the GST Council to only once a year instead of continuing to allow frequent tweaks. Speaking at the 18th edition of the Hindustan Times Leadership Summit, Sitharama...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 476
-
Posted Date : 26-Nov-2020 , 09:30:08 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 1,36,962 crores to over 41.25 lakhs taxpayers between April 1, 2020, to November 24, 2020, said Income Tax Department. Income Tax refunds of Rs 36,028 crores were issued in 39,28,067 cases and corporate tax refunds of Rs 1,00,...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 249
-
Posted Date : 21-Nov-2020 , 09:30:02 am | Posted By CASANSAAR
The Income Tax Department started a search and survey action in the case of a leading cattle feed producer in Northern India. The search and survey actions are being carried out at 16 locations in Kanpur, Gorakhpur, Noida, Delhi and Ludhiana. The I-T department said that the main allegat...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 786
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
Fresh Income tax news only on casansaar covering details for Income tax return,efiling, calculator,refund, income tax slab,forms,rates etc in india
