Amendments to Direct Tax Vivad Se Vishwas Bill cleared by Cabinet.

The Finance Minister has introduced the Direct Tax Vivad se Vishwas Bill, 2020 in the Lok Sabha on 05-02-2020 for dispute resolution related to direct taxes. On 12-02-2020 has introduced certain amendments to the bill. …

Income tax rules amended to clarify the term unauthorized colony

The Central Board of Direct Taxes has published Income tax Amendment (6th Amendment), Rules, 2020 on 17th February, 2020 to clarify that the term “unauthorised colony” used in the rules shall have the same meaning …

CBDT notifies Income tax 5th Amendment Rules to make PAN inoperative if it is not linked with Aadhaar.

The Central Board of Direct Taxes in its notification dated 13th February 2020, has published the Income-tax (5th Amendment) Rules, 2020 to fix the final deadline for linking PAN with Aadhaar. The PAN of a …

CBDT Prescribes procedure of PAN allotment through common application form.

The Central Board of Direct Taxes has prescribed the procedure for allotment of permanent account number through a common application form. The Common Application Form shall be applicable to new Foreign Portfolio Investors for the …

Government of West Bengal introduces mobile App for tax and non-tax receipts.

The West Bengal Finance Department has introduced the facility of Government Receipt Portal System (GRIPS) – a mobile App under West Bengal Integrated Financial Management system(WBiFMS) – an online, digital platform for making various tax …

CBIC exempts specified goods from health cess imposed of certain medical devices.

The Central Board of Indirect Taxes and Customs vide notification dated 2nd February 2020 Seeks to exempt specified goods from Health Cess imposed on the medical devices falling under heading 9018 to 9022 in terms …

CBDT issues clarification on the new provision pertaining to residence in India.

The Finance Bill, 2020 has proposed that an Indian citizen shall be deemed to be resident in India if he or she is not liable to be taxed in any country or jurisdiction. It said …

CBIC extends due date for filing GST Annual Return and Audit Reports in a staggered manner.

The Central Board of Indirect Taxes and Customs vide notification dated 3rd February, 2020, has extended the time limit for furnishing of annual return or reconciliation statement in FORM GSTR-9 or FORM GSTR-9C pertaining to …

CBDT notifies other electronic modes for acceptance of payment for businesses.

The Ministry of Finance vide notification dated 29th January, 2020, has published the Income-tax (3rd Amendment) Rules, 2020 which prescribes the ‘other electronic modes’ for the purpose of accepting and making electronic payment under different …

GST Taxpayers shall now file their GSTR-3B return in staggered manner.

The finance ministry has staggered last dates of filling GSTR-3B, a monthly return form, and has provided three dates for different categories of taxpayers, in a moved aimed at de-stressing the system. The taxpayers are …