ICAI Campus Placements (52nd Program: February-March 2021)
Committee for Members in Industry & Business (CMI&B) of ICAI will organise next/ 52nd batch of Campus Placement Program in February-March 2021, at 19 Centers across the Country.
IT Search in Assam detects evasion of Income above Rs. 200 crores
IT Deptt. has conducted Searches at 20 locations of 3 leasing business houses in Assam, which has resulted in detection of tax evasion in respect of Income above Rs. …
Companies (Incorporation) Second Amendment Rules, 2021, notified by MCA
MCA notifies the Companies (Incorporation) Second Amendment Rules, 2021, applicable w.e.f. 01/04/2021, to amend rules relating to One Person Companies (OPCs).
Companies (Specification of Definitions Details) Amendment Rules, 2021, notified by MCA
MCA notifies the Companies (Specification of Definitions Details) Amendment Rules, 2021, applicable w.e.f. 01/04/2021, to revise threshold for paid up capital/ turnover for Small Companies.
Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021 notified by MCA
MCA notifies the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021, to facilitate fast track mergers for Starts ups and other small companies (OPCs).
Time Limit Reduced for Re-opening Income Tax Proceedings proposed in Budget 2021
Reduction in Time Limit has been proposed in Budget 2021 for Re-opening of Income Tax Proceedings within 3 years, as against existing limit of 6 years, except in serious …
Enhanced Tax Audit Exemption limit of Rs. 10 crore for Digital Turnover, proposed in Budget 2021
Enhanced Tax Audit Exemption limit of Rs. 10 crore, as against existing limit of Rs. 5 crore, has been proposed in Budget 2021, for taxpayers having 95% or more …
0.1% TDS on Purchase of Goods above 50 lacs proposed in Budget 2021
TDS of 0.1% on transaction of purchase of goods exceeding Rs. 50 lakh in a year has been proposed in Budget 2021 to widen the TDS base, applicable in …
ITR filing exemption for Senior Citizens (75 or above) proposed in Budget 2021
ITR filing exemption has been proposed in Budget 2021 for Senior Citizens (age 75 years or more) having only pension/ interest income, to reduce their compliance burden.
IT search of Kolkata Group detects concealment of Rs. 309 crore income
IT Deptt conducts search at 25 premises of Kolkata based Iron & Steel Manufacturing Group, which has resulted in detection of concealment of income amounting to Rs. 309 crore.