Applicability of Updated return u/s 139(8A) of the Income Tax Act 1961
An Updated return can be furnished u/s 139(8A) of the Income Tax Act 1961 by any person, whether or not he has furnished a return under sub-section (1) or sub-section (4) or sub-section (5), for an assessment year (herein referred to as the relevant assessment year), of his income or the income of any other person in respect of which he is assessable under this Act, for the previous year relevant to such assessment year, in the prescribed form 61 at any time within twenty-four months from the end of the relevant assessment year. Read more
Filing of Form I SWF is now available for Online filing vide Circular No. 15 of 2020 dated 22nd July 2020
Form Audit Report SWF is now available for filing
Form 3CD, 3CEB, Form 65 is amended by CBDT
CBDT issued Notification no. 27/2024/ F. No. 370142/3/2024-TPL G.S.R. 155(E) dated 05.03.2024 to further amend the Income-tax Rules, 1962. The rules may be called the Income-tax (Fourth Amendment) Rules, 2024. Read more
Pending income tax refunds relating to AY 2021-22 would be processed by this date; check email for confirmation
There is good news for those taxpayers who are still waiting to get their income tax refund for FY 2020-21 (AY 2021-22). In an order dated March 1, 2024, the Central Board of Direct Taxes (CBDT) has said that these individuals can get their income tax refund by April 30, 2024. Read more
Two parallel proceedings in respect of the same period are not permissible under GST Law
The Hon’ble Guwahati High Court in the case of Subhash Agarwalla, held that once a proceeding is initiated under either in the CGST Act or the SGST Act, another proceeding for same period under other Act cannot to be initiated. Therefore, the operation of the Order-in-Original was to remain suspended till the returnable date. Read more
Ex-post facto extension of due date of filing Form No. 26QE
CBDT issued Circular No. 04/2024 dated 07.03.2024 regarding ex-post facto extension of due date for filing Form No. 26QE which was required to be filed during the period 01.07.2022 to 28.02.2023 (pertaining to F.Y. 2022-23) Read more
Meerut CGST Commissionerate busts syndicate that fraudulently claimed Input Tax Credit
The Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, started an investigation in October 2023 into a large syndicate that fraudulently claimed Input Tax Credit (ITC) by way of fake billing. Read more
Newsletter: subscribe weekly newsletter at a nominal fees of Rs.149/- p.a. Subscribe
📣 GST Webinar 🎯
-by onlinetaxupdate.com
🔖 Topic GST Notice – reason for receiving it and how to reply to them
🗓️ Date 16.03.2024
⏰ Time 2:30 PM to 3:30 PM
🔗 Registration Form
Link https://forms.gle/anhHNH9MM5Gxigbh9
Share this content:
