December 8, 2021

Central Board of Direct Taxes gave the Guidelines under Section 194Q of Income Tax Act, 1961. The CBDT Circular also covers the linkage between Sections 194Q, 194-O and 206C(1H).

E-auction services carried out through electronic portal, where the final price and payments are settled by seller/ buyer independently; Adjustment of various state levies and taxes other than GST; Applicability of section 194Q in the cases where exemption has been provided u/s 206C(1A); and Applicability of the provisions of section 194Q in the case of Government Departments (not a PSU). […]

Direct Tax
November 9, 2021

Roll out of the new Annual Information Statement (AIS)

Important Judicial Precedents RNM was established by Late Mr. R.N. Marwah in the year 1946. RNM India is one of the top ca firm in Delhi.  Commencing from the pre-independence era to the modern age of science and technology, RNM has loyally stood as a witness to the sequence of events that have gradually molded the nation and led to […]

Direct Tax
October 6, 2021

Extension! Extension!

On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act, extends the due dates for electronic filling of such forms as under. […]

Direct Tax
September 8, 2021

Extension!

On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act, 1961 read with Income-tax Rules, 1962 (Rules), Central Board of Direct Taxes (CBDT), in exercise of its powers under section 119 of the Act dated 29th Aug 2021, extends the due dates for electronic filling of […]

Direct Tax
August 4, 2021

One More Extension!

On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms vide Circular No.15/2021 dated 03.08.21. The details are as under: Further, […]

Direct Tax
June 3, 2021

Extension of Due Date!

Extension of time limits of certain compliances to provide relief to taxpayers in view of the serve pandemic. Compliance Original Due Date Revised Due Date TDS Return for quarter ending March 2021 31st May 2021 30th June 2021 Issuance of TDS Certificate in Form 16 15th June 2021 15th July 2021 Filing of Return of Income for FY 2020-21(Non audit […]

Direct Tax
April 6, 2021

Welcome to FY 2021-22

Some of the key amendments to Finance Bill 2021 have been summarized below:   Important Judicial Precedents A notice issued u/s 142(1) requiring the assessee to furnish a return of income when the assessee had already earlier filed a return is not valid. Once a valid return of income was available on record, which was already processed issuing notice u/s 142(1) […]

Direct Tax

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