TAX
45th GST Council Meeting: Sectoral Highlights
The 45th GST Council revised GST rates, issued clarifications, extended timelines for concessional rates as well as extended exemption.
September 21, 2021
The 45th GST Council revised GST rates, issued clarifications, extended timelines for concessional rates as well as extended exemption.
The CBDT vide Circular No. 17/ 2021 dated 9 September 2021, has extended the due dates w.r.t filing of return of income and various audit reports. The same have been summarized here.
The CBDT vide Circular No. 16/ 2021, dated 29 August 2021, has extended the due dates of various direct tax compliances. The same has been summarized here.
The Bill proposes to amend the Act and abolish the retrospective tax on indirect transfer of Indian assets, if the transaction was undertaken before 28 May 2012.
This summarizes the key Notifications and Circulars issued by the CBDT, extending the due dates of various direct tax compliances under the Act:
The CBDT vide notification dated 02.07.2021 has inserted a new sub-rule 5 under Rule 8AA of the Income-tax Rules, 1962 and also notified Rule 8AB, which deals with the attribution of income taxable under section 45(4) of the Act
Read the analysis of Section 194Q in Finance Act, 2021 introduced by the Central Board of Direct Taxes (CBDT)
This article provides a summary of the Circular addressing the issue of residential status in light of travel restrictions due to COVID.
The government introduced tax measures in the union budget 2019 directed at rich individuals and entities. One of these measures was the proposal to levy a tax on listed companies when they buy back shares from the shareholders. Read on to understand the implications of these new measures.