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
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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
CBDT Order Reg Issue Of Certificates For Lower Rate/ Nil Deduction Of TDS/ TCS U/s 195, 197 & 206C(9) Of Income-Tax Act
The CBDT has issued an Office Order dated 31st March 2020 u/s 119 of the Income-tax Act in which it has issued various directions and clarifications on the issue of certificates for lower rate/ nil deduction/collection of TDS or TCS u/s 195, 197 and 206C (9) considering the constraints of the Field Officers in disposing of the applications for lower or nil rate of TDS/ TCS and to mitigate hardships of payees and buyers /licensees /lessees
Download Ordinance Extending Various Time Limits Under The Taxation And Benami Acts
In order to give effect to the announcements made by the Union Finance Minister vide Press Release dated 24.03.2020, regarding several relief measures relating to statutory and regulatory compliance matters across sectors in view of COVID-19 outbreak, the govt has brought in an Ordinance on 31.03.2020 which provides for extension of various time limits under the Taxation and Benami Acts. It also provides for extension of time limits contained in the Rules or Notification which are prescribed/ issued under these Acts
ITAT Issues Order Reg Filing Of Appeals And Cross-Objections Before All Benches
Justice P. P. Bhatt, the Hon’ble President of the ITAT, has issued an Office Order dated 30th March 2020 on the subject of filing of appeals and cross-objections before all Benches of the ITAT
FAQs Reg RBI’s Decision To Allow Banks To Declare Moratorium On Term Loans
The Ministry of Finance has issued a press release dated 1st April 2020 answering several FAQs relating to the decision of the Reserve Bank of India to allow Banks to declare a three-month moratorium on all term loans outstanding
Clarification Of Finance Ministry Reg Extension Of The Financial Year
The Ministry of Finance has issued a clarification of the subject of extension of the financial year ended 31st March 2020
ITAT Contributes To PM Cares Fund & Requests Stakeholders To Contribute Generously
Justice Pradeep P. Bhatt, the Hon’ble President of the ITAT, has issued a letter dated 30th March 2020 stating that all officers and staff of the Income Tax Appellate Tribunal have contributed to the PM Cares Fund. The Hon’ble President has requested other stakeholders to also contribute generously to the PM CARES Fund, the donations to which are entitled to the benefit of section 80G of the Income-tax Act, 1961
Top CA Firm Reveals Strategy To Tackle CoronaVirus Slowdown
An elite MNC CA firm has explained the strategy that it intends to follow to overcome the hurdles posed by the CoronaVirus slowdown
Download Finance Act 2020
The Finance Act 2020 received the assent of the President on the 27th March, 2020, and is now available for download
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