GST has Become Colonial Taxation System – CAIT

Confederation of All India Traders (CAIT) has said in a press release that Much against the declared spirit of GST as Good & Simple Tax, the GST has become a ‘colonial taxation system” quite away from the ground realities of business conducted in India.

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Income Tax Department conducts searches in Delhi

The Income Tax Department carried out search and seizure action on a number of hawala operators engaged in the activity of routing and handling unaccounted cash in Delhi region. The search action has resulted in unearthing of incriminating evidences revealing various shell entities being used for raising bogus purchase/sale bills, and routing of unaccounted funds […]

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Extend DueDates for Income tax Audit &returns for AY 2020-21

Emerging Businesses Chamber Of Commerce has made a representation to FM and Request for Extension of Due Dates for filing Tax Audit, Audit Reports under income Tax Act and ITR for Assessment Year 2020-21. Request was made in view of The Covid-19 Pandemic, Night Curfew and its effect on professional work, Ongoing Farmers Protest in […]

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Extend Income Tax & GST Audit/Return/Compliance dates

Vyyapaar Mandal Association, Nagore & All India MSME and Tax Practitioners Association (AIMTPA) has made a representation to FM for Extension of Due date of GST Annual Returns F.Y. 2018-19 and 2019-20, and Income Tax Return & Tax Audits for A.Y. 2020-21 and compliance of Notices.

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Extend due date of AGM to 31st March 2021

Direct Taxes Professionals’ Association Requested FM to extend the due date for holding Annual General Meeting (AGM) of Companies as mandated in section 96 of the Companies Act 2013 to 31st March 2021 and the gap between two AGMs may be allowed upto 21 months.

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Request to Extend Due dates under GST & Income Tax

A Request for extension of various due dates under Income-tax Act, 1961 for AY 2020­-21 and for filing the Annual Reconciliation Statement (GSTR-9C) along with the annual return (GSTR-9) for financial years 2018-2019 & 2019-2020 is made by Bombay Chartered Accountants’ Society, Chartered Accountants Association (Ahmedabad), Chartered Accountants Association (Surat), Karnataka State Chartered Accountants Association […]

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GSTR-9 of FY 2019-20 is available now but without table 8A details

Facility to file annual return in Form GSTR-9 for FY 2019-20 is now available. The Form is enabled for taxpayers whose table 8A computation has been completed. Computation of the table 8A of the said return for auto population from returns is under progress which is likely to be completed soon. Please ensure that all applicable returns […]

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RBI Committee Recommends Conversion of Large NBFCs into Banks & Entry of Corporates

“Well-run large non-banking finance corporations (NBFCs), with an asset size of Rs 50,000 crore and above, including those which are owned by a corporate house, may be considered for conversion into banks subject to completion of 10 years of operations and meeting due diligence criteria and compliance with additional conditions specified in this regard,” it […]

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