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GST e-Invoice Exemption Declaration functionality is now available on e-Invoice portal GSTN Advisory: e-Invoice Exemption Declaration Functionality Now Available GSTN has made available e-Invoice Exemption Declaration functionality on the e-Invoice portal. This functionality is specifically designed for taxpayers who are by default enabled for e-invoicing but are exempted …
ITD examining ITR of salaried assessee claiming refunds – Precautions for Tax Consultants/ Tax Practitioners Income Tax Department is scanning allowances and deductions claimed by Salaried Taxpayers claiming refunds Recently, the Income Tax Department caught an Income Tax refund scam in Andhra Pradesh and Telengana. The scam amounts …
CBDT urges NRIs with inoperative PAN to intimate NRI status to jurisdictional Assessing Officer Income Tax Department has issued an advisory for Non Resident Indians whose PAN are inoperative. According to the advisory, if any NRI’s PAN is still inoperative, he/she is requested to intimate his/her NRI status …
Delay in deposit of PF/ESI for disallowance u/s 36(1)(va) to be calculated from the month of actual payment of salary not accrual. ITAT remands case for examination ABCAUS Case Law Citation:ABCAUS 3781 (2023) (07) ITAT Important Case Laws relied upon:Checkmate Pvt. Ltd. vs. CITKanoi Paper and Industries Ltd. …
Amendment of Income tax Rules to include IFSC related proposals in Finance Act 2023 (Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 51/2023 New Delhi, the 18th July, 2023 G.S.R. 519(E).—In exercise of the powers conferred by clause (XI) of the proviso to clause (x) of sub-section …
Amendment in Income Tax Rules in view of IFSC related proposals in Finance Act 2023 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 50/2023 New Delhi, the 17th July, 2023 G.S.R. 514(E).— In exercise of the powers conferred by clause (i) of sub-section (3) of …
ICAI again defers second phase of Peer Review Mandate from 1st July 2023 to 1st April 2024 Deferment of second phase of Peer Review Mandate The ICAI had announced coverage of more firms under Peer Review process. An Announcement in this regard had been made dated 12.02.2022. Further …
Notifications/Circulars issued as per Recommendations of 50th meeting of GST Council CBIC has issued various Notifications and Circulars to give effect to the Recommendations / Announcements of 50th meeting of GST Council (A) Notifications issued to give effect to the Recommendations of 50th meeting of GST Council 26/2023-Central …
FCRA new Helpdesk system launched by Home Ministry A new FCRA) Helpdesk system has been launched. Under the new system one may submit his/her query / issues through three mediums as under: (i) through website: https://helpdesk.fcraonline.gov.in (ii) through email support fcra@gov.in (iii) through telephone number 011-23077501 and 011-23077505 …
In faceless regime, normally there cannot be a case of prejudice of lack of enquiry because there is application of mind by multiple officers and not by a single officer – ITAT ABCAUS Case Law Citation:ABCAUS 3780 (2023) (07) ITAT Important Case Laws relied upon:Cinecita Pvt. Ltd. 137 …
