Month: December 2020

According to CNBCTV18, the Finance Ministry has received many representations to extend deadlines for GSTR 9A &9C for FY 2018 -19 &FY2019-20 &ITR for AY 20-21 &income tax audit which expires on Dec 31. The Ministry is likely to extend deadlines by 1-2 months, it is claimed

The Income-tax Department has set up a dedicated email for taxpayers to register feedback pertaining to the Faceless Assessment Scheme, 2019. Taxpayers have been requested to furnish their feedback/ grievance on the said email id. It is assured that the emails will be closely monitored by a team of officials at the National e-Assessment Centre

Updated: 16th December 2020: itatonline.org had requested a panel of experts to answers to queries arising on Vivad Se Viswas Scheme to assist the tax consultants and tax payers. The forum received more than 300 queries which have been answered by the panel of experts consisting of Dr. K. Shivaram, Senior Advocate, CA. Rajan Vora and CA Pradeep Kapasi. For the benefit of the Tax professionals and tax payers, the important queries and answers in a tabular from.

Pursuant to the consultations with the Collegium of the Income Tax Appellate Tribunal, consisting of the President and two senior most Vice Presidents, seven Hon’ble Members have, vide order dated 11th December 2020, been transferred in the same capacity to the respective Benches, on account of administrative exigencies and in public interest, with immediate effect

The Committee is also of the opinion that Virtual Courts can be extended permanently to various Appellate Tribunals like TDSAT, IPAB, NCLAT etc., located across the country which do not require personal appearances of the parties/advocates. Permanent Virtual Courts can also be established for hearing matters relating to Administrative and other Tribunals at the time of final hearing. This will cut down the cost and increase the efficiency in disposal of the cases without being unnecessarily being adjourned. The Committee is also of the opinion that necessary Amendments may be brought in laws to legalise Virtual Courts and its proceedings without being unnecessarily challenged before Courts

The said publication is edited by Dr. K. Shivaram, Senior Advocate, and authored by Mr. Ajay R.Singh, Advocate, Bombay High Court who is one of the leading Tax Counsel in the field of Direct Taxes who has more than 20 years of experience

The CBDT has vide Circular No. 21/2020 dated 4th December 2020 provided clarifications to several important queries which were raised by tax professionals and taxpayers. The clarifications are in the form of answers to frequently asked questions (FAQs) on issues and will prove to be immensely useful for all taxpayers desirous of settling their pending income tax litigation

Field Court Tax Chambers are delighted to announce that Mr Kaka has been called to the Bar of England &Wales in a virtual ceremony conducted by Gray’s Inn

Shri Pramod Kumar, the Hon’ble Vice President of the Income Tax Appellate Tribunal, Mumbai Benches, has issued a notice dated 3rd December 2020 stating that the Mumbai benches intend to resume physical functioning, on an experimental basis and in a limited manner, with effect from 7th December, 2020. A detailed SOP has also been issued