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The Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely: (1) These rules may be called the Income-tax (18th Amendment) Rules, 2022.(2) They shall be deemed to have come into force…
The CBDT vide Notification No. 65/2022 dated June 16, 2022 has issued relaxation from Tax Deducted at Source (“TDS”) under Section 194I of the Income Tax Act, 1961 (“the IT Act”) w.e.f. July 01, 2022, on payment in respect of lease rentals…
The CBDT vide Notification No. 01 of 2022 dated June 09, 2022 has modified Notification No. 01 of 2021 dated June 22, 2021 w.r.t. compliance check functionality for Section 206AB and 206CCA of the Income-Tax Act, 1961 (“the IT Act”) to facilitate tax deductors/collectors…
CGST Rates on goods -taxable, exempt and compensation cess updated as on 01.05.2022 is published by CBIC. The GST rates on certain goods have under gone changes since the introduction of GST. The rate changes are given effect through amending…
The CBDT vide Notification No. 49/2022 dated May 5, 2022 has issued the Income-tax (Twelfth Amendment) Rules, 2022 to further amend Rule 44E of the Income-Tax Rules, 1962 (“the IT Rules”) w.r.t. application for obtaining an advance ruling under Section…
The CBDT issued revised instructions vide F.No.225/101/2021-ITA-II dated April 23, 2022 for the constitution and functioning of ‘Local Committees to deal with Taxpayers Grievances from High-Pitched Scrutiny Assessment’. The Central Board of Direct Taxes (the ‘CBDT’), by its Instruction No.17/2015…
Notification no.74/2020-CT dated 15.10.2020 : Due date for filing GSTR-1 for taxpayers having aggregate turnover up to 1.5 Crore in preceding financial year or current financial year is notified. The registered person shall furnish the details of outward supplies of…
1. Notification No.04/2020-Central Tax (Rate) ,dt. 30-09-2020 : CGST exemption on services by way of transportation of goods by air or by sea from customs station of clearance in India to a place outside India is being extended by one…
ITC restriction u/r 36(4) is relaxed for period from March to August, 2020: As per rule 36 of CGST Rules, a taxpayer can claim input tax credit only if the invoices appear in GSTR-2A. And, in case the invoices do…