Monthly Archives: June 2021

Key Highlights of Covid Relief Packages Announced by The FM On 28th June 2021 in View of 2nd wave of Covid-19 Pandemic

Posted on June 29, 2021

The Union Finance Minister addressing the nation on 28th June 2021, announced a slew of measures to provide relief to diverse sectors affected by the 2nd wave of COVID-19 pandemic. The measures announced also aim to prepare the health systems … Continue reading →

Posted in Direct Tax |

CBDT extends certain timelines & announces Exemptions for Covid-19 expenditure & ex gratia

Posted on June 28, 2021

CBDT on account of genuine hardship being faced by taxpayers in making various compliances under the Income Tax Act (‘the Act’) in view of severe Covid-19, eases the compliance burden of taxpayers by providing relaxations in respect of the following … Continue reading →

Posted in Direct Tax |

Compliance Check functionality of Tax Department for sections 206AB & 206CCA (applicable w.e.f 1 July 2021)

Posted on June 22, 2021

The Finance Act, 2021 had brought in section 206AB (TDS for non-filers of Income Tax Return) & 206CCA (TCS for non-filers of Income Tax Return) which is effective from 1 July 2021. These sections mandate tax deduction (section 206AB) or … Continue reading →

Posted in Direct Tax |

Some Important Changes w.r.t TDS/TCS provisions from 1st July 2021

Posted on June 14, 2021

(Assessee’s may prepare for compliance to the extent applicable to them) The Finance Act, 2021 had brought in the following changes w.e.f 1st July 2021 in respect of TDS/TCS provisions: 1. Section 194Q – Deduction of tax at source on … Continue reading →

Posted in Direct Tax |

Gist of Notifications dated 1st June, 2021

Posted on June 3, 2021

In exercise of powers conferred by various provisions of CGST Act 2017, CBIC issued various Notifications on 1st June, Gist of notifications are as follows:   Notification No. Gist of notifications 16/2021- Central Tax Provision for liability of interest has … Continue reading →

Posted in GST |