CBDT releases draft Common Income Tax Return Form for public consultation.
The taxpayers will not be required to see the schedules that do not apply to them. It intends the smart design of schedules in a user-friendly manner with a better arrangement, logical flow, and increased scope of pre-filling. It will also facilitate the proper reconciliation of third-party data available with the Income-tax Department vis a vis the data to be reported in the ITR to reduce the compliance burden on the taxpayers.
CBDT condones delay in filing Form 10A till 25th November 2022.
NGOs and Charitable Trusts enjoy benefits such as Tax exemption under section 12A which allow them a relief to not pay taxes if they work for the welfare of the society and do not profit from their earnings. Once an organisation like an NGO or a charitable trust is formed, it must register under Section 12A to be eligible for the exemption.
Ministry of Consumer Affairs exempts wholesalers and big chain retailers from the stock limit order with immediate effect.
As the price situation of major edible oils is now witnessing a gradual reversal as there is considerable decline in the prices of edible oil in the international market as well as the domestic market, thestock limit order was reviewed by the department.
International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022.
Every member of Regulated Entity’s Senior Management shall be responsible for the Regulated Entity’s compliance under these Guidelines. While carrying out their responsibilities under these Guidelines every member of a Regulated Entity’s Senior Management shall exercise due skill, care, and diligence.
Mumbai Police makes seat belt compulsory for motor vehicle drives and commuters.
As per the Motor Vehicles (Amendment) Act, 2019, under section l94(b) (1) Whoever drives a motor vehicle without wearing a safety belt or carries passengers not wearing seat belts shall be punishable.
Government of Haryana grants paid holiday to employees on 3rd November 2022 on occasion of polling day.
The paid holiday shall be granted to all Haryana Government offices and Boards/corporations/Educational institutions under Section 25 of the Negotiable instrument Act’ 1BB1 and under section 135-8 of the representation of the people Act, 1951 [amended in 8/1’996) in respect of those employees of the state Government who are registered voters of 47- Adampur Assembly constituency for casting their vote in the said election.
