Whether GST interest can be recovered by issuing letter?
The department has now started issuing letters asking the registered persons to pay the interest liability for the delay in filing of GST-3B. In this...
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Tax Savings for Resident/Non-Resident Indians
Tax Benefits Available to NRIs in India 1. Indian Tax Regime: As per the Indian tax regime, NRIs are exempted from paying taxes on certain...
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49th GST Council Meeting Recommendations
1. GST on ‘Rab’ has been reduced from 18% to 5% if sold pre-packaged and labelled, and to nil if sold otherwise. 2. GST on...
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TDS on transfer of Virtual Digital Assets (VDA) – Section 194S
TDS u/s 194S TDS on the transfer of VDAs Introduction of section 194S The Government has introduced Section 194S Under Budget 2022 to impose TDS...
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Non-Banking Finance Company- About, License of RBI & Types
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, Engaged in – Business of loans and advances Acquisition of shares/stocks/bonds/debentures/securities issued...
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Section 276B of Income Tax Act 1961
Grievance Redressal Mechanism under Chapter XII-D or XVII-B section 276B of Income Tax Act 1961 Failure to pay tax to the credit of Central Government...
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Setting up of Appeal Units under “Faceless Appeal Scheme 2021
F No. 187/4/2020-ITA-1 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** North Block, New Delhi — 110001 Dated...
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Net worth requirements for a Bullion Exchange & Bullion Clearing Corporation
International Financial Services Centres Authority Circular No. F. No. 329/IFSCA/Bullion MIIs/2022-23 Dated: March 01, 2023 To Bullion Exchange in the International Financial Services Centre (IFSC)...
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Clarifications in relation to Fund Management Entities and Schemes set up in IFSCs by Sovereign Wealth Funds
International Financial Services Centres Authority Circular No. F. No. 333/IFSCA/SWF/20022-23 Dated: March 01,2023 To, All Fund Management Entities (FMEs) in International Financial Services Centres (IFSCs)...
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IFSCA: Clarifications in relation to Family Investment Funds
International Financial Services Centres Authority Circular No. F.No. 333/IFSCA/FIF/2022-23 Dated: March 01, 2023 To, All Fund Management Entities (FMEs) in International Financial Services Centres (IFSCs)...
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Setting up of Units under section 144B(3) of Income-tax Act, 1961
F No. 187/3/2020-ITA-1 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ***** North Block, New Delhi — 110001 Dated...
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CBDT notifies IBBI under section 10(46) of Income tax Act 1961
Notification No. 09/2023- Income Tax Dated: 01st March, 2023 under section clause 46 of section 10 of Income tax Act 1961 in case of Insolvency...