Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 which takes effect from 1st day of July, 2021. These sections mandate tax deduction or tax collection at higher rate in case of certain non-filers...
Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Bhutan today. India was chosen as the Partner Jurisdiction and has...
A meeting was held between senior officials of the Finance Ministry and Infosys on 22.06.2021 on issues in the new Income Tax Portal. The meeting was presided over by Union Minister for Finance & Corporate Affairs Minister Smt. Nirmala...
Change in GST Rates on goods being used in Covid-19 relief and management
The 44th GST Council met under the Chairmanship of Union Finance & Corporate Affairs Minister Smt Nirmala Sitharaman through video conferencing here today. The Council in its meeting...
Several New Features Introduced
Free of Cost ITR Preparation Interactive Software Also Available
New Call Centre For Taxpayer Assistance
The Income Tax Department is launching its new e-filing portal www.incometax.gov.in on 7th June, 2021. The new e-filing portal is aimed at providing...
The gross GST revenue collected in the month of May 2021 is₹1,02,709 crore of which CGST is ₹17,592 crore, SGST is ₹22,653, IGST is ₹53,199 crore (including ₹26,002 crore collected on import of goods) and Cess is ₹ 9,265 crore (including ₹868 crore collected on import of goods). The above...
Economy projected to grow at 9.5% in 2021-22
Rs. 15,000 crore liquidity support to contact-intensive sectors like hotels, tourism, etc.
Additional Measures to boost credit for MSMEs, small businesses and rural sector
The Governor of the Reserve Bank of India, Shri Shaktikanta...
Dr. K.P. Krishnan headed expert committee on Variable Capital Company has submitted its report on the feasibility of Variable Capital Companies in the International Financial Services Centres to the Chairperson of the International Financial Services Centres Authority (IFSCA), Shri....
On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy, Government has further enlarged the scope of Emergency Credit Line Guarantee Scheme as under:
(i) ECLGS 4.0:100% guarantee cover...
COVID-19 related medical goods including Amphotericin B for free distribution given full exemption from IGST upto 31.08.2021
Custom duty exemption also given to Amphotericin B
Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns ; Late fee...
