21 June

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MCA deletes Rule Restricting Approval of Financial Statements, Board’s Report, via VC Meetings

Ministry of Corporate Affairs amends Companies (Meetings of Board and its Powers) Rules, 2014, and omits Rule 4 which lays down the list of matters that shall not be dealt with in any meeting held through video conferencing or other audio visual means. The restricted matters inter alia included the approval of – annual financial statements, Board’s report, the prospectus and matter relating to amalgamation, merger, demerger, acquisition and takeover. Now these matters can be approved in a meeting held through video conferencing or other audio visual means....

18 June

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The new TDS/TCS provisions – 194Q, 206AB, 206C(1H) and action points

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The Finance Act 2021, has brought out new TDS provisions with effect from 1st July 2021 relating to: Applicability of TDS/TCS at higher rate in certain cases and TDS on purchase of goods. In this regard, following is the brief summary of the TDS provisions and the action points thereon which need to be taken care for the ease of compliance of these provisions....

16 June

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CBDT notifies Cost Inflation Index for FY 2021-22

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CBDT notifies Cost Inflation Index as 317 for FY 2021-22 w.e.f. April 1, 2022 applicable for AYs 2022-23 onwards....

14 June

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Vishnu Daya Newsletter- June 2021

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We are pleased to present our monthly newsletter for the month of June 2021. ...

14 June

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CBDT relaxes e-filing of Forms 15CA/15CB upto June 30. Allows manual filing with Authorized Dealers

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in NewsletterAlerts

CBDT extends relaxation for e-filing of Forms 15CA/15CB upto June 30, 2021. Relaxation is on account of difficulties reported by taxpayers in uploading Forms 15CA/15CB on the new Income Tax web portal. CBDT allows filing of forms manually with the authorised dealers and advises authorised dealers to accept the forms for the purpose of foreign remittances. A facility will be provided on the new e-filing portal to upload these forms at a later date....

08 June

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Due Date for Payment of Advance Tax is 15th June 2021

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in NewsletterAlerts

This is to bring to your kind attention that the due date for payment of first instalment of advance tax (15%) for the financial year 2021-22 is 15.06.2021. Kindly take necessary actions to make the payment within the due date. It is to be noted that though Government of India has announced series of relief measures due to COVID- 19, there is no change in timeline for payment of tax. For taxpayers opting for Presumptive Taxation Scheme under section 44AD & 44ADA, 100% advance tax need to be paid before 15th March (4th quarter) and hence no requirement of making payment in...

03 June

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GST updates from 43rd GST Council Meeting

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in NewsletterAlerts

The GST Council has conducted the 43rd GST Council Meeting and has announced certain changes to the GST laws and procedures. ...

27 May

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Non- availability of E-filing portal of the Income Tax Department at www.incometaxindiaefiling.gov.in from 1st June 2021 to 6th June 2021

Posted by Vishnu Daya

in NewsletterAlerts

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...

22 May

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CBDT extends various compliance deadlines in wake of severe pandemic

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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....

21 May

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GST – recent updates

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in NewsletterAlerts

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. ...

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