Thursday, June 17, 2021

Penalty leviable when revised ITR is filed after issuance of notice

Penalty leviable when revised ITR is filed after issuance of notice Relevant Extract of Order is as given below: In the instant case, in the original return filed on 30.09.2011, the assessee has...
Govt to issue all pending income-tax-GST refunds immediately

Govt to issue all pending refunds immediately

Government to issue all pending income tax, GST and custom refunds immediately All pending income tax refunds up to Rs 5 lakh will be immediately released to provide relief...

Section 234E is Late Fees on late filling of TDS Return and Not Penalty

Section 234E is Late Fees on late filling of TDS Return and Not Penalty Contention of petitioner: Section 234E of the Income Tax Act is penalty in the shape of a fee. ...
extended Validity of Forms 15G and 15H of FY 2019-20

Validity of Forms 15G and 15H of FY 2019-20 extended

Validity of Forms 15G and 15H of FY 2019-20 extended due to COVID-19 – Now these Forms would be valid up to 30.06.2020 To mitigate the hardships of small taxpayers, it has...
GST applicable on supply of purified water to public in empty unsealed cans

GST applicable on supply of purified water in empty unsealed cans

GST applicable on supply of purified water to public in empty unsealed cans Advance Ruling has been made by The Authority for advance rulings Karnataka. This Ruling was made in matter of...
Govt slashes interest rate on small saving,PPF and NSC

Govt slashes interest rate on PPF, other small saving,

Govt slashes interest rate on small saving, PPF to fetch 7.1%, NSC 6.8% Ministry of Finance has issued a circular date 31.03.2020 vide which Interest rate on small saving has been reduced...
ordinance to give effect to extension of time limits under Taxation and Benami acts

FM brings an ordinance under Taxation and Benami acts

FM brings an ordinance to give effect to extension of time limits under Taxation and Benami acts News: In order to give effect to the announcements made by the Union Finance Minister...
PM-CARES-Funds-Eligible-for-100-Deduction.jpg

PM CARES FUND ELIGIBLE FOR 100% DEDUCTION UNDER SECTION 80G

PM Cares fund eligible for 100% deduction under Section 80G A special fund “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES FUND)” has been set up for providing...
certificates for lower rate/nil deduction/collection of TDS or TCS

Order u/s 119 for issue of certificates

Order u/s 119 for issue of certificates for lower rate/nil deduction/collection of TDS or TCS Due to outbreak of Covid-19 virus, there is severe disruption in the normal working of almost all...
No Extension of Financial Year

No Extension of Financial Year: Clarifies MOF

No Extension of Financial Year, Clarifies MOF There is a fake news circulating in some section of media that the Financial Year has been extended. A notification issued by the Government of...

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