RBI extends Pre/ Post Shipment Export Credit/ Advance Period from 12 to 15 Months
RBI has notified extension of Period of Advance from 12 months to 15 months in the case of all Pre/ Post Shipment Export Credits disbursed upto 31 July 2020, …
ICAI’s Guidelines for Auditor’s Consideration (COVID-19)
ICAI has issued different Guidelines which prescribes key points/ questions for Auditor's Consideration, like Physical Inventory Verification, Going Concern, Subsequent Events, Auditor's Reporting, Financial Reporting & Auditing of Financial …
Income Tax Refunds of Rs. 26,242 crores issued since 1st April 2020: CBDT
Income Tax Deptt. has issued refunds of Rs. 26,242 crores since 1st April 2020 to 16.84 lac individual/ corporate assessees. Further, the refund process has been geared up for …
Safe Harbour Rules for AY 2020-21, notified by CBDT
CBDT amends Rules 10TD and 10TE to notify Safe Harbour Rules for AY 2020-21, vide Income Tax (9th Amendment) Rules 2020 (Notification 25/2020 dt. 20 May 2020). Accordingly, the …
ICAI extends Practical Training Commencement Deadline (Nov. 2020 Final Exam)
ICAI extends Practical Training/ Articleship commencement deadline from 31st May 2020 to 31st July 2020 for appearing in November 2020 Final examination, due to lock down in the country …
No Penal Damages for PF Deposit Delays during Lockdown (COVID-19): EPFO
EPFO has provided relief to employers from levy of penal damages for any delay in deposit of PF contribution(s)/ administrative charges due for the period during Lockdown (COVID-19).
Restoration of ICAI Membership/ Certificate of Practice (COP): 2019-20
ICAI has announced a Scheme for “Retrospective Restoration of Membership/ Certificate of Practice (COP)" for the Financial Year 2019-20. Members can apply under this Scheme till 31st May 2020 …
25% Reduction in TDS/ TCS Rates from 14th May 2020 (FY 2020-21)
TDS Rates for non-salary payments and TCS Rates for specified receipts have been reduced by 25% in respect of the remaining period of Financial Year 2020-21 (i.e. during 14th …
ITR/ TAR Due Date Extended (FY 2019-20/ AY 2019-20)
Due dates for filing of all Income Tax Return (ITR) in respect of FY 2019-20/ AY 2020-21 have been extended from 31st July/ 31st October 2020 to 30th November …
Vivad se Vishwas Scheme extended upto 31 Dec. 2020
The period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December,2020, as per Special Package of Rs 20 lakh crores (COVID-19) …