New Income Tax Changes I Notice & Assessement I CA Satbir Singh
New Income Tax Changes I Notice & Assessement I CA Satbir Singh
Monthly Archives: September 2021
CBDT Guidlines for handling of assessment by Jurisdictional Assessing Officers
F. No.225/97/2021/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes *************** New Delhi, Dated 6th September, 2021 To, F. No.225/97/2021/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes *************** ~ \ New Delhi, Dated b September, 2021 All Principal Chief Commissioners of Income… Read More »
Income Tax Notification No101 /2021 : Income-tax (27th Amendment) Rules, 2021 : Rule 14C inserted faceless assessment authentication
Income Tax Notification No101 /2021 : Income-tax (27th Amendment) Rules, 2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 6th September, 2021 G.S.R. 616(E).—In exercise of the powers conferred by sub-clause (b) of clause (i) of sub-section (7) of section 144B read with section 295 of the Income-tax… Read More »
CBDT amends Income-tax Rules for submisison of records for faceless assessment proceedings
CBDT amends Income-tax Rules, 1962 to ease authentication of electronic records submitted in faceless assessment proceedings Posted On: 07 SEP 2021 For easing the process of authentication of electronic records in faceless assessment proceedings, the Government has amended Income-tax Rules, 1962 (‘the Rules’) vide notification no G.S.R. 616(E) dated 6th September, 2021. The amended Rules provides… Read More »
CBDT allows taxpayers an opportunity to file application for settlement
CBDT allows taxpayers an opportunity to file application for settlement Posted On: 07 SEP 2021 The Finance Act, 2021 has amended the provisions of the Income-tax Act, 1961 (“the Act”) to inter alia provide that the Income-tax Settlement Commission (“ITSC”) shall cease to operate with effect from 01.02.2021. Further, it has also been provided that no application… Read More »
CBDT order under section 144B(2) specifying the scope/cases to be done
F No. 187/3/2020-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi Dated, the 6 th September, 2021 Order under sub-section (2) of Section 144B of the Income-tax Act. 1961 (the Act) for specifying the scope/cases to be done under the Act – regarding The Faceless… Read More »
CBDT Order under section 119 of the Income-tax Act. 1961providing exclusions to section 144B of the Act. from Scheme to Faceless Assessment
CBDT Order under section 119 of the Income-tax Act. 1961providing exclusions to section 144B of the Act. F No. 187/3/2020-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** ORDER North Block, New Delhi Dated, the 6 th September, 2021 Order under section 119 of the Income-tax Act. 1961… Read More »
Circular No 158/14/2021 GST : CBIC clarifications for revocation of cancellation of registration
Circular No. 158/14/2021-GST CBIC clarifications for revocation of cancellation of registration Video explanation on Circular No 158/14/2021 GST : CBIC clarifications for revocation of cancellation of registration Read Circular No 158/14/2021 GST : CBIC clarifications for revocation of cancellation of registration File No. CBIC-20006/17/2021-GST Government of India Ministry of Finance Department of Revenue Central Board… Read More »
Fresh losses can be claimed in Reassessment if not claimed in Orgional Income Tax Return : HC
Fresh losses can be claimed in Reassessment if not claimed in Orgional Income Tax Return Facts of the Case There is no original assessment for the Assessment Year and only the an intimation under section 143(1) of the Act was issued to the assessee. Further to this it was claimed that the said intimation under section 143(1)… Read More »
New GST order on Input tax Credit Reversal based on Letter of GST Officer : HC decision
New GST order on Input tax Credit Reversal based on Letter of GST Officer Facts of the Case GST Officer issued letter stating that the petitioner had availed input tax credit on the basis of invoices issued by certain suppliers/firms. It is stated in the said letter that the investigations conducted by the departmental officials… Read More »