The Income Tax Department issued Frequently Asked Questions (“FAQs”) on Aadhaar-PAN Linking. Q 1. Who needs to link Aadhaar and PAN? Ans: Section 139AA of the Income Tax Act provides that every individual who has been allotted a permanent account number (PAN) as on the 1st day of July, 2017, and who is eligible to obtain an
Certificate under the State Goods and Services Tax Act, 2017 and the Central Goods and Services Tax Act, 2017 in terms of Section 29(5) of the said Acts M/s. (hereinafter referred to as the “Applicant’) is a registered person vide GSTIN………………….and is having its principal place of Business at__________ in the State of_______________. The Applicant has the following additional places of business
Schemes of Indian Government The Indian government has introduced a number of programs this year. The social and economic welfare of the country is aided by these measures. The Government of India has undertaken numerous programs to address the nation’s residents’ numerous social and economic issues. In 2022, a number of new programs are introduced,
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
