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Search results for: income tax department

Deadline Extended for Vivad se Vishwas Scheme

Govt Extends Due Date of Vivad Se Vishwas Scheme due to 2nd wave of COVID-19

The last date has been prolonged by the union government for making payments beneath tax dispute settlement scheme Vivad se Vishwas (from dispute to trust) via April 30 to June 30, 2021, to give the relief to assessee facing the public health issues to the 2nd wave of the covid-19 pandemic. The last date of […]

Latest Changes in GST RCM by Delhi Govt.

Delhi Govt: Recent Amendment in GST RCM to Give Motor Vehicles on Rent

Delhi government has stated that the recent amendment in the Reverse Charge Mechanism Get an easy guide to RCM (reverse charge mechanism) introduced in GST India same as VAT basis. Also, We covered the topic in all aspects along with systematic manner to give motor vehicles on rent. On 30th June 2017 the governor of […]

Extension of ITC Verification

Extension of ITC Verification Till 31st December 2020 by Rajasthan Govt

The Income-tax credit Rajasthan commercial tax department extended the date to verify till December 31, 2020. Under Act 18(2) of the Rajasthan Value Added Tax Act, 2003 the Commissioner of Commercial Taxes Rajasthan Jaipur, Abhishek Bhagotia delegated addressed with section 174 of the Rajasthan Goods and Services Tax Act, 2017 revised the Notification No. F.16 […]

Revised Belated Tax Due Date & GST Details in Form 26AS

CBDT Updates: Belated ITR Due Date Revised & Upload GST Return Data in 26AS Form

The Central Board of Direct Taxes released notifications on 29th September and 30th September and made some important announcements. Through a notification issued on September 29, the CBDT empowered the Principal Director General of Income Tax (System) or the Director General of Income Tax (System) to upload information related to GST returns, which is in […]

Faceless Appeal Scheme Facility

Faceless Appeal Scheme for Providing Services Through e-appeal Petitions

For the faceless assessment, the board will set up a national faceless appeal centre Prime Minister Narendra Modi will launch the faceless assessment scheme for the Income-tax department. This will be set up and implemented by the National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres. Read more for providing services through e-appeal […]

Income Tax Provisions of TCS

Know Applicable New IT Provisions of TCS from 1st October 2020

Here we will go through all the latest tax collected at source (TCS) provisions as listed by the tax department. The department has made clear all the points in detail. The Finance Act 2020 has launched three new provisions under Tax collected at source The Central Board of Direct Taxes (CBDT) has amended the provision […]

Searches in Srinagar & Kupwara by IT Department

IT Dept has Implemented Contemporary Research & Operations in Srinagar/Kupwara

In the current case of three prominent businessmen in Srinagar and Kupwara on 2nd September 2020, the income tax administration has implemented contemporary research and operations. The case consolidated about the undisclosed amount and the operations have prima facie seizure of unaccounted assets and incriminating proof and relationship in unnamed transactions by certain groups. In […]

Issues of Tax Faceless Assessment Scheme

Major Problems Can Occur under Faceless Assessment Scheme

The problem for criticizing the decisions for the bureaucratic opacity and ambiguous fiscal regulations has been seen at several times in India. But the country has improved business index from 134 in 2013 to 63 in 2020 owing to the e-governance which includes the initiation of electronic MOA and AOA, one program for communicating in […]

NeAC will Use for Faceless Tax Assessment

PCC IT Mumbai: NeAC will Convert Into Faceless Assessment Centre

On 13th August 2020, Prime Minister Narendra Modi will launch the faceless assessment scheme for the Income-tax department. This will be set up and implemented by the National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres. The regional assessment will include assessment units, verification units, technical units, and review units. The arrangement permits […]

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