One-Time Relaxation For Verification of Income Tax Returns

One-Time Relaxation For Verification of Income Tax Returns The Central Board of Direct Taxes (CBDT)  via a circular No.21/2021 dated December 28, 2021, has announced that all the income tax returns that were filed last year and are pending for…

Due Date Extension for Compounding of Offences – Income Tax

Due Date Extension for Compounding of Offences - Income Tax The income tax department has relaxed the timeline for applying for compounding of offences made by taxpayers including offences such as failure to furnish income-tax returns, under-reporting of income, and failure to…

Scheme for Revocation of Cancellation of GST Registration

Scheme for Revocation of Cancellation of GST Registration The Central Board of Indirect Taxes and Customs (CBDT), vide the Central Goods and Services Tax (Fifth Removal of Difficulties) Order 2019, has extended the time limit for filing the application for…

Section 55A of Income Tax Act

Section 55A of Income Tax Act The income-tax laws may in certain cases require the tax authorities to ascertain the value of any capital asset while completing the assessment of a taxpayer or for other purposes. In such cases, the…

Section 43A of CGST Act

Section 43A of CGST Act Section 43A of CGST Act has been recently introduced into the GST framework to simplify the procedures concerning return filing and availing Input Tax Credit (ITC). Though notified to be effective from 1st February 2019,…

Income Tax Welfare Fund Rules, 2007

Income Tax Welfare Fund Rules, 2007 The Income Tax Welfare Fund Rules 2007, has been formulated to govern the administration of the income tax welfare fund, which has been established to cater to the officers and the staffs of the…

Matching Form 26AS & Form 16

Matching Form 26AS & Form 16 According to the Income Tax Act, 31st July is the last day for filing an income tax return for the specified categories of person. Section 234F of the Act mentions that in case of…

Generating EVC Through ATM

Generating EVC Through ATM Taxpayers who have a taxable income which exceeds the basic exemption limit are required to file an income tax return every financial year. The return should be filed before the due date specified in the Income…

Form 27Q

Form 27Q - Income Tax Quarterly statement of deduction of tax under sub‐section (3) of section 200 of the Income‐tax Act in respect of payments other than salary made to non‐residents for the quarter ended [maxbutton id="17" url="https://www.indiafilings.com/learn/wp-content/uploads/2018/04/Form-27Q.pdf" text="Download Form…

Form 62

Form 62 - Income Tax Certificate from the principal officer of the amalgamated company and duly verified by an accountant  regarding achievement of the prescribed level of production and continuance of such level of production in subsequent years [maxbutton id="17"…