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Form 3CD – Schema Change Document
Form 3CD – Schema Change Document 1 Purpose The purpose of this document is to track the changes done in Form 3CD Schema post first release. 2 Release changes The below section describe the list of XML schema changes since the first production release of
All about Equalisation levy and amendments in Finance bill 2020
All about Equalisation levy and amendments in Finance bill 2020: Finance act 2020 has brought major changes in Equalization levy which are applicable from 01 – April -2020. But before that just giving slight information on Equalisation levy. Introduction: Section 163 to 172 deals with
Key changes in income tax w.e.f 01 – April – 2020
Key changes in income tax w.e.f 01 – April – 2020 Changes from 01- April – 2020 1) Taxpayers can now choose between two options ( one claiming deductions, other not claiming deductions ) to arrive at their tax liability. They can choose options beneficial
FAQs on Filling forms under Vivad Se Vishwas Scheme
FAQs on Filling forms under Vivad Se Vishwas Scheme Q1: As per the form, the Assessee is required to mention the reference number of appeal filed by it. When the matter is pending with CIT(A), Appeal No. may not be available with Assessee, as notice
Finance Bill 2020 receives Presidential assent.
THE FINANCE ACT, 2020 An Act to give effect to the financial proposals of the Central Government for the financial year 2020-2021. BE it enacted by Parliament in the Seventy-first Year of the Republic of India as follows:— CHAPTER I PRELIMINARY Section 1 Short title and
Nirmala Sitaraman press conference at 1.30 pm on March 26, 2020
Nirmala Sitaraman press conference at 1.30 pm on March 26, 2020 Relief package for Doctors para-medicals, hygiene workers and technicians and front-line warriors – Rs. 50 lakh insurance for each individual. PM Garib Kalyan Yojana PM Garib Kalyan anna yojana: The scheme already benefitting already
Lok Sabha passes Finance Bill 2020 without discussion amid Corona Virus Outbreak
THE FINANCE BILL, 2020 CHAPTER I PRELIMINARY Section 1 Short title and commencement. (1) This Act may be called the Finance Act, 2020. (2) Save as otherwise provided in this Act,— (a) sections 2 to 104 shall come into force on the 1st day of April
Vivad se Vishwas scheme 2020
Vivad se Vishwas scheme 2020 While filing Form 1 (Form for filing Declaration and Undertaking) need to note the following points:- 1. In part A Option exercised by Appellant: Mention “Yes” if going to pay tax 2. In Part B If yes,whether order passed by
The Direct Tax Vivad Se Vishwas Rules, 2020
The Direct Tax Vivad Se Vishwas Rules, 2020 S.O. 1129(E).—In exercise of the powers conferred by sub-section (2) of section 12 read with sub-sections (1) and (5) of section 4 and sub-sections (1) and (2) of section 5 of the Direct Tax Vivad se Vishwas
Handling of Notices u/s 143(1)(a)/139(9) of Income Tax Act, 1961
Handling of Notices u/s 143(1)(a)/139(9) of Income Tax Act, 1961 Section 143 (1) Where a return has been made u/s 139, or in response to a notice u/s 142(1), such return shall be processed in the following manner, namely: (a) the total income or loss
CBDT issues FAQ on VSVS. Circular 07/2020 dated 4th March 2020
CBDT issues FAQ on VSVS. Circular 07/2020 dated 4th March 2020 Snb.: Clarifications on provisions of the Direct Tax Vivad se Vishwas Bill, 2020 – reg. During the Union Budget. 2020 presentation, the ‘Vivad se Vishwas’ Scheme was announced to provide for dispute resolution in
VIVAD SE VISHWAS SCHEME
VIVAD SE VISHWAS SCHEME The bill is aimed at resolving Direct Tax-related disputes in a speedy manner. Question-1: – Who can avail of the benefit under this scheme? Answer: -A taxpayer can avail the benefit under the scheme in respect of Income-tax appeals pending before