03
June
0
Comments
GST updates from 43rd GST Council Meeting
The GST Council has conducted the 43rd GST Council Meeting and has announced certain changes to the GST laws and procedures. ...
Continue reading
27
May
Non- availability of E-filing portal of the Income Tax Department at www.incometaxindiaefiling.gov.in from 1st June 2021 to 6th June 2021
CBDT has issued a press release on the launch of new e-filing portal of the Income Tax Department. For the preparation of the new launch and for migration activities, the existing portal of the Department at www.incometaxindiaefiling.gov.in would not be available for a period of 6 days from 1st June 2021 to 6th June 2021. The assessing officers are also intimated not to issue any compliance dates during the above mentioned period. All Officers are directed to fix any hearing or compliances only from 10th June onwards to give taxpayers time to respond on the new system. If they have already...
Continue reading
22
May
CBDT extends various compliance deadlines in wake of severe pandemic
Due to the prevailing severe pandemic in the country, the Central Board of Direct Taxes (CBDT) has extended the time limits of certain compliances, vide Circular No. 9 of 2021 dated 20th May 2021. Please refer the below link to know more about the extension of time limits....
Continue reading
21
May
GST – recent updates
This is to bring to your notice that we are hereby enclosing the updates on recent GST notifications and circulars including due dates for certain GST compliances. Hope this may be timely and useful. ...
Continue reading
21
May
MCA Issues Clarification on Offsetting Excess CSR spent to ‘PM CARES Fund’ for FY 2019-20
MCA clarifies that where a company has contributed any amount to ‘PM CARES Fund’ as on 31.03.2020, which is over and above the minimum amount as prescribed under section 135(5) of the Companies Act, 2013 (“Act”) for FY 2019-20, and such excess amount or part thereof is offset against the requirement to spend under section 135(5) for FY 2020-21, then the same shall not be viewed as a violation subject to the conditions that: i. the amount offset as such shall have factored the unspent CSR amount for previous financial years, if any; ii. the Chief Financial Officer shall certify that the contribution...
Continue reading
19
May
Submission of Statement of Financial Transactions (SFT) for dividend
Section 285BA of the Income Tax Act, 1961 and Rule 114E requires specified reporting persons to furnish statement of financial transaction. CBDT has issued a Notification (Notification no. 16/2021, dated 12th March 2021) to include reporting of information relating to dividend income. The dividend information is to be reported by a Company who has distributed dividend during the FY 2020-2021. The statement of financial transactions shall be furnished on or before the 31st May 2021. CBDT has issued a Notification (Notification no. 1 of 2021, dated April 20, 2021) providing the guidelines for preparation, submission and validation of the SFT. Please take note...
Continue reading
15
May
Vishnu Daya Newsletter- May 2021
We are pleased to present our monthly newsletter for the month of May 2021. ...
Continue reading
15
May
Vishnu Daya Newsletter- May 2021
We are pleased to present our monthly newsletter for the month of May 2021....
Continue reading
15
May
Vishnu Daya Newsletter- May 2021
We are pleased to present our monthly newsletter for the month of May 2021. ...
Continue reading
13
May
CBDT extends compliance deadlines in wake of pandemic to May 31
CBDT issues a Circular for extension of various compliance deadlines due to the severity of COVID-19; Extension pertains to (i) filing of appeal before CIT(A), (ii) objections before DRP, (iii) ITR in response to notice u/s 148, (iv) belated/ revised filing of ITR, (v) TDS compliance u/s 194-IA, 194-IB and 194M, and (vi) filing of statement in Form No. 61; The deadline has been extended to May 31, 2021 (CBDT Circular No. 8/2021 dt. 30th April 2021)...
Continue reading