The CBDT has issued a press release regarding the reduction in rate of Tax Deduction at Source (TDS) & Tax Collection at Source (TCS)
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Year: 2020
High Court Should Resume Normal Physical Hearings As “Democratic Functioning” Is “Imperiled”: Senior Advocates
Six eminent senior Advocates of the Bombay High Court, being Iqbal Chagla, Janak Dwarkadas, Fedun E De Vitre, Navroz Seervai, Darius Khambata and M P Bharucha, are planning to meet Chief Justice, Dipankar Datta to request that physical hearings with regular court working days and timings be resumed
CBDT Circular: Clarification In Respect Of Residency Under Section 6 Of The Income-tax Act, 1961
The CBDT has vide Circular 11 of 2020 dated 8th May 2020 provided important clarification on the issue of determining the residential status of persons who have been compelled to prolong their stay in India owing to the outbreak of the CoronaVirus and the suspension of international flights
Imp Circular Of Bombay High Court Reg Functioning Of Courts During Covid-19 Lock Down
The Bombay High Court has issued an important circular dated 4th May 2020 on the issue of functioning of Courts during the Covid-19 lock down
Law Firms Cut Costs & Go Into ‘Survival Mode’ To Prepare For Slowdown Caused By CoronaVirus
The adverse economic effects of CoronaVirus is being felt by everyone. CA and Law Firms have tightened their seat belts with a view to preparing for the contraction in demand for professional services
CBDT Circular Reg Tax Audit Report Reporting Requirements U/s 44AB Of the Income-Tax Act
The CBDT has vide Circular No.10 /2020 dated 24th April, 2020 stated that in view of the prevailing situation due to COVID-19 pandemic across the country, the reporting under clause 30C and clause 44 of the Tax Audit Report shall be kept in abeyance till 31 st March, 2021
IRS Officers Propose Steep Hike In Taxes; CBDT Slams Them After Vehement Protests From Furious Taxpayers
Some eager-beaver IRS officers have landed themselves in hot water by circulating a document titled “FORCE 1.0” (Fiscal Options & Response to COVID-19 Epidemic). Essentially, the recommendations are that since there will be a loss of revenue due to the Covid-19 Pandemic, more taxes should be imposed on the taxpayers, especially the affluent category.
Bombay High Court To Forego Summer Vacation And Work Longer Hours To Compensate For Loss Due To Covid-19 Pandemic
The Bombay High Court has issued an important circular on the issue of availing Summer Vacation and increasing the working hours after the lock-down is lifted
Vivad Se Vishwas Scheme: CBDT Circular Provides Further Clarifications
The CBDT has vide Circular No. 9/2020 dated 22nd April 2020 provided important clarification to several queries raised by taxpayers in connection with the Vivad Se Vishwas Act, 2020
Vivad Se Vishwas: ITAT President Lauds Scheme, CBDT Chief Invites Suggestions For Improvement
At a video conference, Justice P. P. Bhatt lauded the Vivad-se-Vishwas scheme. He urged the stakeholders, more particularly, the tax practitioners, to take the task further in a mission mode, so that the system that is choked with the avoidable litigation could be relieved for concentrating on more meritorious issues, which have a bearing on the tax policies affecting the taxpayers on a large scale
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