Clipped from: https://taxguru.in/company-law/accounting-software-audit-trail-feature.html The Ministry of Corporate Affairs, Government of India, issued notifications dated 24th March, 2021 to amend Companies (Accounts) Rules, 2014 to enhance the disclosures required to be made
Category: Income Tax
Accounting software with audit trail feature: MCA postpones implementation to FY23 – The Financial Express
Clipped from: https://www.financialexpress.com/industry/accounting-software-with-audit-trail-feature-mca-postpones-implementation-to-fy23/2228888/ The postponement of the rule, a senior government official said, is in view of the Covid situation in the country. “Giving a year’s
‘Over 80% legacy I-T cases resolved through Faceless Assessment Scheme’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/over-80-legacy-i-t-cases-resolved-through-faceless-assessment-scheme/article34265746.ece As many as 3,130 tax personnel, including 600 IT officers, are involved in implementing the faceless e-assessment scheme – Getty Images/iStockphoto As many
Can’t use ITR-1 if TDS paid on high cash withdrawal, say experts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/can-t-use-itr-1-if-tds-paid-on-high-cash-withdrawal-say-experts-121040600045_1.html Taxpayers now need to provide quarterly break-up of dividend income earned From AY 2021-22, the taxpayer has to choose between the new and
Glitch-free faceless assessment addressed industry fears: P C Mody | Business Standard News
lipped from: https://www.business-standard.com/article/economy-policy/glitch-free-faceless-assessment-addressed-industry-fears-p-c-mody-121040701520_1.html Of the 57,985 cases picked for assessment during its pilot last year, orders have been passed in 46,822 cases CBDT Chairman P C
Faceless tax assessment: 60% of allocated cases settled in a year, says CBDT’s Mody – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/faceless-tax-assessment-60-of-allocated-cases-settled-in-a-year-says-cbdts-mody/2228892/ Out of the total 4,12,046 cases assigned to National Faceless Assessment Centre (NFAC) after the faceless appeal scheme was launched in September 2020,
Short term capital gains: When can I claim deduction on short term capital gains? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/when-can-i-claim-deduction-on-short-term-capital-gains/articleshow/81927861.cmsSynopsis As per the Income Tax Act, deductions allowed against the sale of shares resulting in short term capital gains, are the cost of
Can’t use ITR-1 if TDS paid on high cash withdrawal, say experts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/can-t-use-itr-1-if-tds-paid-on-high-cash-withdrawal-say-experts-121040600045_1.html Taxpayers now need to provide quarterly break-up of dividend income earned From AY 2021-22, the taxpayer has to choose between the new and
Income Escaping Assessment – A Revamped Law On Reassessment Proceedings – Tax – India
Clipped from: https://www.mondaq.com/india/income-tax/1035508/income-escaping-assessment-a-revamped-law-on-reassessment-proceedings As the dust settles and the excitement subsides over Budget 2021 announcements, it is now an opportune time to examine the fine print
capital gains tax: Can capital gains from sale of unlisted stocks be adjusted against loss from house property? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/can-capital-gains-from-sale-of-unlisted-stocks-be-adjusted-against-loss-from-house-property/articleshow/81926836.cmsSynopsis As per the Income-tax Act, 1961, provisions, the brought forward a loss from house property can be set off only against income from
Taxman’s Data War- Business News–business today
Clipped from: https://www.businesstoday.in/magazine/cover-story/taxman-data-war/story/435374.html Last year, a businessman from Rajkot, Gujarat, declared an income of less than Rs 5 lakh in his tax return. However, information collated
‘Cairn dispute can’t be settled via Vivad se Viswas scheme’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/cairn-dispute-cant-be-settled-via-vivad-se-viswas-scheme/article34256412.ece Says scheme receives over 1.48 lakh declarations and over ₹54,000 crore The tax dispute with Cairn Energy Plc cannot be brought under the
Big players stayed away from Vivad se Vishwas: CBDT chairman P C Mody | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/big-players-stayed-away-from-vivad-se-vishwas-cbdt-chairman-p-c-mody-121040700072_1.html The scheme announced in the Budget last year allowed for the settlement of tax disputes due up to January 31, 2020. PC Mody,
Mumbai HC says ByteDance must deposit $11 million in tax evasion case
Clipped from: https://www.businesstoday.in/current/economy-politics/mumbai-hc-says-bytedance-must-deposit-11-million-in-tax-evasion-case/story/435892.html An Indian tax intelligence agency in mid-March ordered HSBC and Citibank in Mumbai to freeze accounts of ByteDance India as it probed some
How Much GOLD I Can Hold- Limit under Income Tax?–tax guru
Clipped from: https://taxguru.in/income-tax/gold-hold-limit-income-tax.html How Much GOLD I Can Hold? (Implication under Income Tax Act on holding of Jewellery more than the limit prescribed by the CBDT)
Analysis of Amendments To The Finance Act 2021–tax guru
Clipped from: https://taxguru.in/income-tax/analysis-amendments-finance-act-2021.html INCOME TAX ♦ Income Tax Rates There is no change in the Rates of Income Tax for the AY 2022-23. . ♦ TDS
NRIs try to sidestep ‘deemed residency’ tax – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/nris-try-to-sidestep-deemed-residency-tax/articleshow/81922380.cmsSynopsis These individuals are booking a slice of their income in jurisdictions like Singapore and Hong Kong to pay a small tax there in
income tax returns | capital gains: Checking tax evasion: From this financial year, taxman will have direct access to capital gains data – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/taxman-to-access-capital-gains-data-directly-from-fy22/articleshow/81904476.cmsSynopsis A notification issued by the I-T department on March 12 has included stock exchanges, depositories, clearing corporations and registrars to an issue and
Income tax department introduces JSON utility for AY 2021-22 ITRs, discontinues Excel/Java – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-department-introduces-json-utility-for-ay-2021-22-itrs-discontinues-excel-java/2227254/ In place of the Excel and Java version of ITR utilities, the CBDT has introduced JSON utility and released a step-by-step guide for
I-T Dept launches offline utility for ITR 1, 4- Business News–BUSINESS TODAY
Clipped from: https://www.businesstoday.in/current/economy-politics/income-tax-department-launches-offline-utility-for-itr-1-4/story/435789.html Taxpayers can import and pre-fill the data from e-filing portal and can also fill the remaining data. Since the facility to upload income
aniltikotekar4sme.com 