I-T Department Conducts Verification of Reporting Entities Posted On: 30 JUN 2023 7:05PM by PIB Delhi The Income-Tax Department has been focusing its efforts on promoting voluntary compliance. In this endeavour, information is received about financial transactions of taxpayers from Reporting Entities, such as Banks, Forex Dealers, Sub-Registrars, etc. The information furnished by the Reporting… Read More »
Public Sector Banks and eligible Private Sector Banks authorised to implement and operationalise Mahila Samman Savings Certificate, 2023 Posted On: 30 JUN 2023 The Department of Economic Affairs, Ministry of Finance, through an e-gazette notification issued on June 27, 2023, permitted all Public Sector Banks and eligible Private Sector Banks to implement and operationalise the Mahila Samman… Read More »
BIG CHANGE for GST RETURN FILER I FILE DRC 01B I MISTMATCH OF GSTR 1 WITH GSTR 3B I CA SATBIR SINGH
Advisory: Online Compliance Pertaining to Liability / Difference Appearing in R1 – R3B (DRC-01B) 29/06/2023 Dear Taxpayers, 1. It is informed that GSTN has developed a functionality to enable the taxpayer to explain the difference in GSTR-1 & 3B return online as directed by the GST Council. This feature is now live on the GST… Read More »
Private Banks allowed for Mahila Samman Savings Certificate, 2023 Notification MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 27th June, 2023 S.O. 2791(E).—In pursuance of the powers conferred by sub-clause (ii) of clause (g) of section 3 of the Government Savings Promotion Act, 1873 (5 of 1873), the Central Government hereby specifies… Read More »
Important changes w.r.t Liberalised Remittance Scheme (LRS) and Tax Collected at Source (TCS) No change in rate of TCS for all purposes under LRS and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs. 7 lakh per individual per annum Government gives more time for implementation of revised TCS… Read More »
How to Download AIS in Excel I ITR Filing I Income Tax Return Filing CA Satbir singh
Income Tax (Eleventh Amendment) Rules 2023. The CBDT has amended Rules 2C, 11AA, 17A and Forms 10A & 10AB to incorporate the amendments made by the Finance Act 2023 related to charitable/religious trusts or institutions registered/approved under Sections 10(23C), 80G and 12A. The Finance Act 2023 amended provisions of Section 10(23C), Section 12A and Section… Read More »
ICAI released Checklist on Standards on Auditing (SAs To enable auditors to effectively comply with the standards on auditing, ICAI has released “Checklist on Standards on Auditing”. This covers checklist of all the 38 Standards on Auditing issued till date covering various audit requirements given in Standards on Auditing. It also contains various “Notes” to… Read More »
Dear Professional Colleagues, This is regarding the implementation of the decision restricting revocation of the UDINs to 48 hours as decided in 420th Council meeting held on 23rd-24th March, 2023. The functionality will be implemented at UDIN Portal w.e.f midnight of 23rd June, 2023. Thereafter, members will not be able to revoke the UDINs after expiry of 48 hours from their generation time henceforth.… Read More »