Blog / News
Home / Blog
CBDT Revises Monetary Limits for Condoning Delay in Claiming Refunds or Loss Carry Forward
CBDT, vide Circular No.7 of 2023 dated 31.05.2023, revises monetary limits for condoning delay in filing return of income claiming refund or carry forward of losses and set-off under Section 119(2)(b) by partially modifying its earlier Circular No.9/2015; PCITs/CITs...
e-Appeals Scheme, 2023 Prescribes Extant Procedure for Personal Hearing, Additional Grounds/Evidence, Penalty etc.
CBDT notifies e-Appeals Scheme,2023 pursuant to amendment in Section 246 of the Income-tax Act by the Finance Act, 2023 (w.e.f. 01.04.2023); The Finance Act, 2023 established a new authority Joint Commissioner of Income-tax (Appeals) [JCIT(A)] to hear the appeals...
₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continueas Legal Tender
₹2000 denomination banknote was introduced in November 2016 under Section24(1) of RBI Act, 1934 primarily to meet the immediate currency requirement of theeconomy after withdrawal of the legal tender status of all ₹500 and ₹1000 banknotesin circulation at that time...
Credit Cards payments on foreign tours have been brought under the ambit of LRS scheme available with resident individual with Annual cap of USD 250000. This may ensure TCS Compliances as per changes made in budget 2023.
Rule 7 of FEM( Current Account Transactions) Rules 2006 with respect to use of international credit cards outside India has been omitted by notification dated 16th May 2023 G.S.R.-369Download
CENTRE FOR PROCESSING ACCELERATED CORPORATE EXIT (C-PACE) ESTABLISHED FOR PROVIDING HASSLE-FREE FILING, TIMELY AND PROCESS-BOUND STRIKING OFF COMPANIES FROM MCA REGISTER, dated 13.05.2023.
The MCA vide Notification No. S.O. 1269(E) dated March 17, 2023 established the Centre for Processing Accelerated Corporate Exit (C-PACE) to facilitate the quick, transparent and process-bound exit of companies. With the...
CBIC ROLLS OUT AUTOMATED RETURN SCRUTINY MODULE FOR GST RETURNS
The CBIC has decided to roll out an Automated Return Scrutiny Module for GST returns after the directions of Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman. In the module, discrepancies on account of risks associated with a return are...
E-Invoice Limit Reduced from Rs. 10 Crores to Rs. 5 Crores from 01/08/2023 In Simple Words
Cost Inflation Index Notified
Pan Aadhaar Linking Deadline Extended to 30 June
The government on Tuesday extended the deadline to link the Permanent Account Number (PAN) with Aadhaar card by three months to 30 June, 2023.