Power of Commissioner for provisional attachment under GST In the recent past, it has been seen that the GST authorities are inappropriately misusing the provisions of Section 83 of CGST Act, 2017 for provisionally attaching the properties and bank account of the taxable person without fulfilling the conditions prescribed under the statute for the valid
The Central Board of Direct Taxes (CBDT) vide its Notification No 56/2021 dated 07th May 2021 exempted the provisions of Section 269ST of Income Tax Act, 1961 for Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other medical facilities providing Covid treatment to patients, on obtaining the PAN or AADHAAR of the patient and
The Ministry of Corporate Affairs (MCA) vide its Circular No 09/2021 dated 05th May 2021 issues the clarification on the spending of Corporate Social Responsibility (CSR) funds for creating health infrastructure for COVID care, the establishment of oxygen generation and storage plant. The steps have been taken by the MCA keeping in view of the
The Central Board of Direct Taxes (CBDT) vide its Notification No 50/2021 dated 05th May 2021 exempted the cash allowances received from the employer in lieu of any travel concession or assistance maximum up to Rs 36,000/- or one-third of the specified expenditure, whichever is less, under the second proviso to clause (5) of section
After the relaxation in Income Tax and Goods and Services Tax (GST) compliances Central Government also came up with the relaxation in Companies Act and Limited Liability Act compliances. The Ministry of Corporate Affairs (MCA) issues following three Circulars regarding the various relaxation in the Company Law compliances considering the severe COVID-19 conditions in the
The Central Board of Direct Tax (CBDT) has vide its Notification No 40/2021 dated 03rd May 2021 inserted the Rule 11UD in the Income Tax Rules 1962 related to thresholds for the purposes of significant economic presence in India under Section 9(1) of the Income Tax Act, 1961. The full text of the notification is
The Central Board of Indirect Taxes and Customs (CBIC) has vide its Notification No 13/2021 – Central Tax dated 01st May 2021 relaxes the compliance of Rule 36(4) related to restriction of input tax credit and Rule 59(2) related to Invoice Furnishing Facility (IFF). However, the taxpayer should comply with Rule 36(4) cumulatively for the
In this article, we have summarised the frequently asked question by the senior citizens with respect to Income Tax compliances. Q 1. What are the benefits available to a senior citizen and very senior citizen in respect of tax rates? Ans.: Senior citizens and very senior citizen are granted a higher exemption limit as compared
- 1
- 2
