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Time limit for filing belated and revised return reduced to three months – Budget 2021-22 Sub-sections (4) and (5) of section 139 of the Act contain provisions relating to the filing of belated and revised returns of income respectively. At present the belated or revised returns could be …
Increase in the turnover limit for Tax Audit u/s 44AB from 5 crores to 10 crores for non cash transactions. Budget 2021-22 Presently, under section 44AB of the Income Tax Act, every person carrying on business is required to get his accounts audited, if his total sales, turnover …
Relaxation for certain category of senior citizen of 75 years or more from filing return of income-tax (ITR) in Union Budget 2021-22 Section 194P introduced by Finance Act 2021 Section 139 of the Act provides for filing of return of income. Sub-section (1) of the section provides that …
Download Copy of Finance Act 2021 and Budget Speech of Finance Minister Union Budget 2021 was presented by the Finance Minister on1st February 2021 and the Finance Bill 2021 received the assent of the President on 28.03.2021 Download Copy of Budget Speech Download Copy of Finance Act 2021 …
Key Highlights of Income Tax , GST and Custom Proposals under Budget 2021-22 The Union Finance Minister shall present her third Union Budget 2021-22 in the parliament on 1st February 2021 at 11 AM. You may book mark the page and come back during and/or after the Budget …
Annual letting value of property u/s 23(1)(a) on the basis of Municipal Valuation accepted by ITAT ABCAUS Case Law CitationABCAUS 3445 (2021) (01) ITAT Important case law relied referred:CIT v/s Mani Kumar Subba (2011 333 ITR 838)CIT v/s Tip Top Typography (2014 368 ITR 330) In the instant …
FCRA Charter for the Banks The Foreign Contribution (Regulation) Act, 2010 (FCRA, 2010) assigns a very crucial role to banks. All foreign contributions (FCs) received from any “foreign source”(FS) must be necessarily received only in a bank account and must be routed and spent only through …
Charter for associations who have been granted prior permission or registration under FCRA • Registration and Prior Permission is granted for a definite cultural, economic, educational, religious or social programme under sections 11 and 12 of the FCRA, 2010. An association is granted registration for five years. …
Charter for associations applying for grant of prior permission/registration under the Foreign Contribution (Regulation) Act 2010. • With a view to streamlining the procedures and ensuring effective enforcement and compliance, the Foreign Contribution (Regulation) Act, 2010 has been further amended on 28th September, 2020. Accordingly, the FAQs …
RBI Strengthens Grievance Redressal Mechanism in Banks-Modified disclosures to be given in Annual Report Today, RBI issued a comprehensive framework comprising of enhanced disclosures on complaints to be made by the banks, recovery of the cost of redress of maintainable complaints from the banks against whom the number …
