Category Archives: Direct Tax

Highlights of Taxation & Other Laws (Relaxation & Amendment)

The Lok Sabha passed the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020 on 19.09.2020 which seeks to replace the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (introduced in March, 2020 to provide … Continue reading

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Note on Faceless Assessment

The Hon’ble Prime Minister of India, Sh. Narendra Modi on 13th August 2020 while inaugurating National E-Assessment Centre (‘NeAC’) announced that henceforth there will be transparency in the department and honest taxpayers will be honoured. In this regard, inter alia, … Continue reading

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Income tax (17th Amendment) Rules 2020 dated 24th July,2020.

The Income-tax (17th Amendment) Rules 2020 have brought in certain procedural amendments in the following rules: Effective from 1st October 2020 Rule 37CA (Time for TCS payment); Rule 37-I (TCS Credit); Rule 31AA (TCS Return); and Form No. 27 EQ … Continue reading

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Classification and Procedure for Registration of MSMEs

Ministry of MSME vide Notification dated 26 June 2020 has notified criteria for classifying the enterprises as MSME and prescribed form and procedure for registration of MSMEs w.e.f 1 July 2020 For details, please refer attached note:- Classification and Procedure for … Continue reading

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Further Extension Of Certain Due Dates By CBDT vide Notification No. 35 of 2020 dated 24th June 2020

CBDT vide Notification No. 35 of 2020 dated 24th June 2020 has provided relief to the taxpayers by further extending certain due dates for making compliances which were extended originally through the Taxation and Other Laws (Relaxation of Certain Provisions) … Continue reading

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