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DTVSV Scheme 2024 Guidance | Sunil K. Khanna & Co.
The Direct Tax Vivad Se Vishwas Scheme, 2024 (hereinafter referred to as DTVSV Scheme, 2024) has been enacted vide Chapter IV of Finance (No. 2) Act, 2024 to provide for dispute resolution in respect of pending income tax litigation. The objective of the Scheme is to,...
Company Law Update GC 03/2024 | Sunil K. Khanna & Co.
The Ministry of Corporate Affairs has notified Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 vide G.S.R. No. 832(E) dated 09.11.2023 and has prescribed E-form LLP BEN-2 to file a Return to the Registrar in respect of declaration under...
Income Tax Circular No. 06/2024 | Sunil K. Khanna & Co.
INCOME TAX - (Circular No. 06/2024) PARTIAL MODIFICATION OF CIRCULAR NO. 3 OF 2023 DATED 28.03.2023 REGARDING CONSEQUENCES OF PAN BECOMING INOPERATIVE AS PER RULE 114AAA OF THE INCOME-TAX RULES, 1962, dated 23.04.2024. Circular No. 3 of 2023 dated 28.03.2023 issued...
Income Tax Circular No. 7/2024 | Sunil K. Khanna & Co.
INCOME TAX – (Circular No. 7/2024) EXTENSION OF DUE DATE FOR FILING OF FORM NO. 10A/10AB UNDER THE INCOME-TAX ACT, 1961, dated 25.04.2024.
6 Years of GST: Centre’s Big Focus on Anti Evasion Measures; Industry Flags Unfinished Agenda
6 years into GST and the focus has shifted and how. The pendulum has swung from compensation issues and big rate rationalisations to curbing tax evasion & fake in voicing while industry clamours for clarity on basics.
CBDT Issues Clarification on PAN-Aadhaar Linking
The income tax department, on its official Twitter handle, has issued a clarification on PAN-Aadhaar linking for individuals facing difficulties in linking the same. The clarification has come just a few hours before the expiry of the deadline for linking PAN with...
I-T Dept Probes Influencers | Sunil K. Khanna
The income-tax department has launched a probe against certain social media influencers and content creators on platforms like YouTube and Instagram for allegedly not showing their income and profits commensurate with their earnings, official sources said on Thursday.
Income Tax Return (ITR) Filing: Exemptions and Deductions that Senior Citizens Can Claim
India's income tax law provides several tax benefits for senior citizens. A resident Indian who is 60 years of age or older is considered a senior citizen. Only residents of the country can avail of these special benefits.
Tax Hike on International Transactions to Come into Effect from Oct 1
The Ministry of Finance on Wednesday extended the deadline to apply the proposed changes in Tax Collection at Source (TCS) rates from October 1. Centre has given more time for implementation of revised TCS rates and for inclusion of credit card payments in LRS. Till...
GST Officers Bust Nexus of 30 Fake Firms for Passing Rs 50 cr ITC
The GST officers have busted a nexus of more than 30 fake firms, who have availed ineligible input tax credit (ITC) of over Rs 50 crore, the finance ministry said on Wednesday.
