The Central Board of Direct Taxes (CBDT) vide its Circular No 13 of 2022 dated 22nd June 2022 issues the guidelines for removal of difficulties under sub-section (6) of section 194S of the Income-tax Act, 1961. The Central Government vide Finance Act 2022 in the Budget 2022 inserted a new section 194S in the Income-tax
The Central Board of Direct Taxes (CBDT) vide its Circular No 12 of 2022 dated 16th June 2022 issues the guidelines for the removal of difficulties under section 194R (2) of the Income Tax Act 1961. Finance Act 2022 inserted a new section 194R in the Income-tax Act, 1961 (hereinafter referred to as “the Act”)
The Central Board of Direct Taxes (CBDT) vide its Notification No 62/2022 [S.O. 2735(E)] dated 14th June 2022 notifies the Cost Inflation Index (CII) for FY 2022-23 as “331”. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 14th June, 2022INCOME-TAX S.O. 2735(E).-In exercise of the powers conferred by clause (v) of the
The High Court of Delhi in the case of M/s Prem Brothers Infrastructure LLP Vs National Faceless Assessment Centre & Anr [W.P.(C) 7092/2022] quashed the penalty under section 270A of the Income Tax Act 1961 and directed to grant immunity under section 270AA of the Act. The Court held that under-reporting of income due to
The Ministry of Corporate Affairs (MCA) vide its Notification Dated 10th June 2022 amends the Companies (Appointment and Qualification of Directors) Rules, 2014 w.r.t. restoration of name of the director on the payment of a fee of Rs 1000/-, in the director’s databank under sub-rule (4) of rule 6. MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New
The Gujarat Authority for Advance Ruling (Gujarat AAR) in the case of M/s Vadilal Enterprises Ltd, Ahmedabad held that ITC on GST paid on the transaction wherein vehicles returned empty during return journey is admissible. Brief Facts of the Case: 1. M/s Vadilal Enterprises Ltd. (Vadilal) submitted that it supplies ice cream in various States
The Directorate General of Foreign Trade (DGFT) vide its Public Notice No 13/2015-2020 dated 09th June 2022 extends the due date for filing of annual return under the Export Promotion Capital Goods (EPCG) Scheme for the year 2022-23 till 30th September 2022. Further, a late fee of Rs 5000/- for has been introduced for the returns
The Central Board of Direct Taxes (CBDT), Directorate of Income Tax (Systems) vide its Notification No 01 of 2022 dated 09th June 2022 releases the functionality to facilitate the deductor /collector to verify “Specified Person” under section 206AB and 206CCA of the Income Tax Act 1961. Section 206AB and 206CCA of the Income-tax Act1961 (effective
The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 08/2022 – Central Tax dated 07th June 2022 waives off the interest for specified electronic commerce operators for late filing of GSTR-8 for the specified period. Central Board of Indirect Taxes and Customs Notification No. 08/2022 –Central Tax New Delhi, the 07th
The Central Board of Direct Taxes (CBDT) vide its Notification No 59/2022 [S.O. 2602(E)] dated 06th June 2022 amends the conditions for eligible investment fund under section 9A (8A) of the Income Tax Act 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6th June 2022 S.O. 2602(E).—In
- 1
- 2
