Statutory Compliance Calendar 2023-24
Statutory Compliance Calendar 2023-24 Statutory Compliance Due date for the May 2024 Income Tax and GST Due Date Calendar of June 2024
Category: Corporate and Professional Updates
Tax & Statutory Compliance Calendar for Nov 2023
Tax & Statutory Compliance Calendar for November 2023 S. No. Statue Purpose Compliance Period Timeline Compliance Details 1 Income Tax Tax Deducted at Source / Tax Collected at Source Liability Deposit October 2023 7- November 2023 Timeline of depositing Tax Deducted at Source / Tax Collected at Source liabilities under Income Tax Act, 1961 for …
New Corporate & Professional Update 2021
New Corporate & Professional Update: KEY PRACTICAL TAKEAWAYS: Income Tax: CBDT has issued Circular No. 12/2020 dated 20.05.2020 in order to exempt B2B suppliers with 95% or more receipts through non-cash mode to not maintain prescribed payment modes as per Section 269SU such as POS, UPI, UPI-QR, etc. Note-These assesses can disable these facilities if …
Atmanirbhar Scheme Reduction of compliance obligation
Important Relevant updates on the reduction of compliance obligation under the Atmanirbhar Scheme: TODAY ‘S FIFTH AND LAST TRANCH OF ANNOUNCEMENTS FOCUS ON 8 SECTORS: 1. MGNREGA Scheme Total budget was Rs 61,000 crores The extra Rs 40,000 crores allotted 2. HEALTH’s Setting up the public system Block all districts to avoid infectious diseases Public …
Taxation filling Extension of Coronavirus Circumstance
Direct Tax – Income Tax Update: The Income Tax Department has set deadlines of 30.06.2020 for investment in tax savings schemes for the financial year 2019-20. Taking advantage of the expanded due date and make savings accordingly. Income Tax Department has notified that outstanding income tax refunds of INR 5,204 crores have been paid to …
Corporate and Professional Updates on Sept 2019
Direct Tax Updates: ITAT dismisses Revenue’s appeal, upholds CIT(A)’s order directing AO/TPO to re-compute TP-adjustment only with regard to international transactions for AY 2008-09; Relies on co-ordinate bench ruling in assessee’s own case for AYs 2004-05 and 2006-07 wherein assessee’s contention that TP-adjustment should be restricted only to international transactions was accepted. Also notes that …
Corporate and Professional Updates on 31st August 2019
Direct Tax Updates: CBDT member Akilesh Ranjan, is arguing for a new tax regime for individuals. It has proposed dramatic changes to the Income Tax Act, which dates back 58 years. People earning between Rs 5 lakh and Rs 10 lakh per year may have to pay 10% income tax. Central Board of Direct Taxes …
Corporate and Professional Updates on 30th August 2019
Direct Tax Updates: CBDT issues Clarification in respect of filling-up of the ITR wrt Directors, Foreign assets and NRIs. Indirect Tax Updates: CBIC extends the officer interface facility to resolve GST invoice mismatches for shipping bills filed up to July 31, 2019. RBI Updates: The slowdown in the Indian economy could be cyclical, with deep …
Corporate and Professional Updates on 28th August 2019
Direct Tax Updates: LTCG from penny stocks cannot be treated as bogus if documentation is in order and no fault found by Assessing Officer. Chandra Prakash Jhunjhunwala Vs DCIT (ITAT Kolkata). The task force to overhaul the nearly 60-year-old Income Tax Act has recommended retaining the long-term capital gains (LTCG) tax and the securities transaction …
Corporate and Professional Updates on 27th August 2019
LTCG from penny stocks cannot be treated as bogus if documentation is in order and no fault found by Assessing Officer. Chandra Prakash Jhunjhunwala Vs DCIT (ITAT Kolkata) Indirect Tax Updates: The last date for filing annual GST returns has been extended by three months to November 30 to help taxpayers facing technical problems …