Day: July 7, 2020

Relief in opting for Composition by Taxpayers, filing other Returns & EWB.

160 ViewsRelief in opting for Composition by Taxpayers, filing other Returns & EWB. Due to COVID-19 pandemic and challenges faced by taxpayers, Government has extended dates for GST filings. These are notified in Central Tax Notifications 30, 34 & 35/2020 dated 03.04.2020 & 47/2020 dated 09.06.2020 & 55/2020 dated 27.06.2020.4.Opt in for Composition in FY 2020-21 Normal Taxpayers …

Relief in opting for Composition by Taxpayers, filing other Returns & EWB. Read More »

INCOME TAX NOTIFICATION NO-42

140 ViewsINCOME TAX NOTIFICATION NO-42 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 30th June, 2020 G.S.R. 423(E).—In exercise of the powers conferred by section 50CA read with section 295 of theIncome-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rulesfurther to amend the Income-tax …

INCOME TAX NOTIFICATION NO-42 Read More »

INCOME TAX NOTIFICATION NO-41

149 ViewsINCOME TAX NOTIFICATION NO-41 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 30th June, 2020(INCOME–TAX) S.O. 2148(E).—In exercise of the powers conferred by the proviso to sub-section (3) of section 9Aof the Income-tax Act, 1961(43 of 1961), the Central Government hereby notifies that the conditionsspecified in clauses (e), (f) and (g) …

INCOME TAX NOTIFICATION NO-41 Read More »

INCOME TAX NOTIFICATION NO-40

133 ViewsINCOME TAX NOTIFICATION NO-40 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 29th June, 2020 G.S.R. 421(E).— In exercise of the powers conferred by clause (XI) of the proviso to clause (x) of subsection(2) of section 56 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central …

INCOME TAX NOTIFICATION NO-40 Read More »

Seeks to make eighth amendment (2020) to CGST Rules

225 ViewsSeeks to make eighth amendment (2020) to CGST Rules [To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]Government of IndiaMinistry of Finance(Department of Revenue)Central Board of Indirect Taxes and CustomsNotification No. 58/2020 – Central Tax New Delhi, the 1st July, 2020 G.S.R…(E). – In exercise of the powers …

Seeks to make eighth amendment (2020) to CGST Rules Read More »

Definitions | Section – 2, Income-tax Act, 1961

750 ViewsDefinitions | Section – 2, Income-tax Act, 1961 Definitions. 2. In this Act, unless the context otherwise requires,—  (1) “advance tax” means the advance tax payable in accordance with the provisions of Chapter XVII-C; (1A) “agricultural income”1 means— (a) any rent or revenue derived from land which is situated in India and is used for agricultural …

Definitions | Section – 2, Income-tax Act, 1961 Read More »

Open chat