The ministry said that they have studied the Ministry’s General Circular No. 7/2020 dated 05th March 2020 and decided that the last date of filing the form NFRA 2 for the financial year 2018-19 has been extended till 210 days from the launch date of the form on the website of National Financial Reporting Authority (NFRA).
The entities approved/ registered/ notified u/s 10(23C), 12AA,35 & 80G of the Income Tax Act, 1961, would be required to file intimation within three months from 1st October, 2020, i.e, by 31st December, 2020 due to the outbreak of novel corona virus (COVID-19) and consequent lockdown. Where as with regards to the entities already approved/ […]
40th GST Council Meeting held via video conferencing on 12th June, 2020 made following recommendations on Law and Procedure Changes. Reduction in late fees for past returns. Relief for small taxpayers for late filing of returns for periods impacted under Lock down Due to Covid-19 one time extension in period for seeking cancellation of registration.
The Central Board of Indirect Taxes and Customs (CBIC) has issued Circular 139/09/2020-GST that GST refunds related to ITC on Imports, ISD invoices, RCM will be processed based on other means of verification and not be restricted if the same is not appearing in GSTR 2A of the applicant
The Central Board of Direct Taxes (CBDT) has notified new additions to the procedures and methods to be followed by taxpayers for filing tax under section 115BAA and Section BAB of Income Tax Act,1961
Vide Notification No. 08/2020 dated 29.01.2020, the CBDT inserted new Rule 6ABBA in Income Tax Rules, 1962 to prescribe for other electronic modes of payments as prescribed for certain sections.
Form 10DA is a report to be issued by a Chartered Accountant certifying the amount of deduction to be claimed by a taxpayer under section 80JJAA of the Indian tax law – for New Employment.
Numerous situations have been received from professionals and industry seeking clarification whether the GST is leviable on Director‟s remuneration paid by companies to their directors. Doubts have been raised as to whether the remuneration paid by companies to their directors falls under the ambit of entry in Schedule III of the Central Goods and Services […]
