NOTIFICATION S.O. 2276(E) [NO. 31/2023/F. NO. 200/3/2023-ITA-I], DATED 24-5-2023 In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their […]
GST Calendar –Compliances for the month of April 2023. Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) May 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) May 10, 2023 GSTR-1 May 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) May 13, 2023 GSTR-6 Input Service Distributor May 13, 2023 GSTR-2B (Auto Generated Statement) May 14, 2023 GSTR-3B […]
1. Personal income tax to GDP ratio rises to 2.94 in FY 2021-22 The Finance Minister, Smt. Nirmala Sitharaman chaired a periodic review meeting with the Central Board of Direct Taxes (CBDT). During the review meeting, the FM was apprised about the impact of various initiatives. Introducing new data sources in SFT has led to an 1118% increase in reported […]
Amendments to Finance Bill, 2023 Finance Bill, 2023 inserted a new provision- Section 50AA for calculation of capital gains resulting from the transfer, redemption, or maturity of Market Linked Debentures (MLDs). Section 50AA also provided the capital gains from MLDs shall be deemed to be short-term capital gain. Under the amendment to Finance Bill, the scope of this section has […]
GST Calendar –Compliances for the month of February’2023 Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) March 10, 2023 GSTR-8 (Tax Collected at Source ‘TCS’) March 10, 2023 GSTR-1 March 11, 2023 IFF- Invoice furnishing facility (Availing QRMP) March 13, 2023 GSTR-6 Input Service Distributor March 13, 2023 GSTR-2B (Auto Generated Statement) March 14, 2023 GSTR-3B March […]
Vide this circular the Central Board of Direct Taxes (CBDT) has further extended the time limit to 31st March, 2023 for compliance to be made for claiming any exemption under section 54 to 54GB of the Income Tax Act, 1961 (“the Act”) in view of the Covid-19 Pandemic. The period of investment for capital gain exemption which was earlier extended […]
CBDT exempts Non-Residents (NR) not having PAN from mandatory e-filing of Form 10F till 31-03-2023. Partial Relaxation With Respect To Electronic Submission of Form 10F by Select Category of Taxpayers In Accordance With DGIT (Systems) Clarification for the purpose of clause (c) of Section 269ST of Income Tax Act, 1961 in respect of dealership/distributorship contract in case of Co-operative Societies- […]
GST Calendar –Compliances for the month of October 2022. Nature of Compliances Due Date GSTR-7 (Tax Deducted at Source ‘TDS’) November 10, 2022 GSTR-8 (Tax Collected at Source ‘TCS’) November 10, 2022 GSTR-1 November 11, 2022 IFF- Invoice furnishing facility (Availing QRMP) November 13, 2022 GSTR-6 Input Service Distributor November 13, 2022 GSTR-2B (Auto Generated Statement) November 14, 2022 GSTR-3B […]
1.CIRCULAR NO. 21/2022 [F.NO. 275/25/2022-IT (B)], DATED 27-10-2022 Vide this circular the Central Board of Direct Taxes (CBDT) in exercise of its powers under section 119 of the Income-tax Act, 1961, extends the due date of filing of Form 26Q for the second quarter of financial year 2022-23 from 31st of October, 2022 to 30th of November, 2022. 2. CIRCULAR […]