#TIL Impact of amendment to 43B relating to payments to MSME will not impact assessee who are purchasing goods or service which is capitalized in their books of accounts. 43B is applicable only on items which are claimed as deduction in computing business income.

@HDFC_Bank Continuously getting same message

Starting next month, the Competition Commission of India (CCI) will look into anti-profiteering measures under the Goods and Services Tax (GST), replacing the National Anti-profiteering Authority (NAA) #tax #india #gst #updates

CBDT has given time till 25.11.2022 to file Form 10A which was required to be filed before 31.03.22. Form 10A is required to be filed for re-registration of existing trust or institution registered u/s 12AA, 10(23C), 80G, 35. (Cir 22/2022)

IT Dept introduces collaborative browsing, which allows the Helpdesk agents to collaborate with the taxpayer’s browser in real-time, just at the click of a button. #incometax #ITwebsite #ITportal #updates

Due date for filing Income Tax Return by persons audited under Income Tax Act or under Companies Act and working partners of such assessee firms has been extended to 7th November 2022 #itr #audits #incometax #duedate #extended #itfiling

Wishing you all a very Happy Diwali #diwali2022 #happydiwali2022 #festivaloflights #diwali

The threshold limit for filing Insolvency resolution process was increased from 1 lakhs to 1 crore on 24.3.20. Raj HC in the case of Vishnu Oil MIll v. UOI has ruled that group of financial creditors can join hands to touch the limit of 1 cr stipulated under Sec 7 of IBC

MCA inserts Rule 25B in Incorporation Rules - now ROC can conduct physical verification of registered office if they believe company is not carrying on any business and take action to remove its name from register STK Forms have also been changed #MCA #ROC #company

People engaged in event management, documentary production, program production, other performing arts should file details of payments over Rs 50,000 in Form 52A with CBDT within 60 days of FY end Earlier only producers of cinematograph films had to file this. #Incometax #CBDT