Mr. Malladi Srinivasa Rao, Tax Practitioner, has been unanimously elected as National President of the All India Federation of Tax Practitioners (AIFTP) for the year 2021
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Faceless Penalty Scheme, 2021
The Central Board for Direct taxes (CBDT) vide Notification No. 3 of 2021 dated January 12, 2021, has notified the “Faceless Penalty Scheme” for conducting penalty proceedings under the Income-tax Act, 1961 (Act) in a faceless manner. The said scheme is alignment with the Faceless Assessment Scheme and the Faceless Appeal Scheme
CBDT Rejects Representations For Further Extension Of Due Date For Filing ROI & TAR
As directed by the Gujarat High Court in The All India Gujarat Federation of Tax Consultants Vs. Union of India, the CBDT has passed an order under section 119 of the Act dated 11th January 2021 on the the issue of extension of due dates for filing of Audit Report under section 44AB of the Income tax Act.
Finance Ministry Likely To Extend Due Date For Filing ITRs: Press Report
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
Faceless Assessments: Income-tax Dept Invites Feedback/ Grievances From Taxpayers
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: The Direct Tax Vivad Se Vishwas Act, 2020: Compilation Of Practical Issues
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.
Transfer Of 7 ITAT Members (Dec 2020)
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
Can Virtual Courts Be Extended Permanently To The Tribunals? ITAT To Offer Suggestions To Parliamentary Committee
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
Download Free E-Book On Reassessment Law, Procedure & Practice – Practical Guide
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
CBDT Circular No. 21/20: Further Clarifications On Vivad Se Vishwas Act, 2020
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
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