Income tax site crashes 5 days before due date of filing returns

 

GST: Restriction on utlization of ITC credit (Electronic Credit Ledger) U/r 36(4) & 86B

 

Please take note of the following important amendments. 

Rule 86B: Restriction on utilization of Electronic Credit Ledger w.e.f. 1st Jan 2021:

CA dies at 40 due to high work pressure

 

GST and Income Tax due date extention almost certain

CA arrested in Mumbai in GST fraud case

Central Goods and Services Tax, Mumbai West, Investigation team has announced the arrest of Mr. Chandraprakash Pandey, Partner of M/s. C.P. Pandey & Associates. He was arrested on account of indulging in

Big Diwali Dhamaka in Gst return filing wef 10/11/2020

https://youtu.be/91hDxCPcrbw

Another CA removed by ICAI for professional misconduct

 The Institute of Chartered Accountants of India (ICAI) notified the removal of a Chartered Accountant after finding him guilty of professional misconduct. The CA was

Important notification wrt to CA exams

 

TaxAudit Checklist u/s 44AB of Income tax Act, 1961 brought out by Direct Taxes Committee & Taxation Audit Quality Review Board of ICAI

Institute of Chartered Accountants of India - ICAI (@theicai) Tweeted:

#TaxAudit Checklist u/s 44AB of Income tax Act, 1961 brought out by Direct Taxes Committee & Taxation Audit Quality Review Board of ICAI

CA guilty of Non Reporting of non-compliance of section 40A(3) & 40(a)(ia) ICAI remove name of CA from Register of Members

CA Ishaq Esmail Lakkadghat Versus Income Tax Officer, 11 (3) -1 Mumbai vide APPEAL NO. 10/ICAI/2018  wherein the Tax auditor was held guilty by the disciplinary committee of ICAI of lack of exercising due

BIG RELIEF IN GSTR-1 FILING NOVEMBER 20 |OPTION TO AMEND INVOICES FOR FY 19-20 IN GSTR1

 

CBIC has released a guidebook for Faceless Assessment

https://www.cbic.gov.in/resources//htdocs-cbec/deptt_offcr/Guidebook_Faceless_Assessment_29Oct2020.pdf;jsessionid=1CC87B4E8C1C3F02820F799E8BD1708C

Increase in fake CA certification

 

GST Audit date further extended

 

Finance Ministry: Extension of due date of furnishing of Income Tax Returns and Audit Reports

https://pib.gov.in/PressReleasePage.aspx?PRID=1667281

Income Tax Department has released New Tax Audit utility - Schema Version 1.21

 

Free Income tax Return filing for senior citizens for FY 2019-20

 We at CANEWSBeta are happy to announce Free Income tax Return filing for senior citizens for FY 2019-20. Following are the terms and conditions:

Analysis of of Tax Collected at Source TCS under Section 206C (1H) of the Income Tax Act, 1961 on sale of goods wef 1st October 2020

 

Tax Collected at source (TCS) is Income Tax which is required to be collected by the seller (Collector) from the Buyer along with the Price of Goods and applicable taxes. Provisions relating to tax Collected at Source has been enumerated in section 206C of the Income Tax Act, 1961. There are various goods on which tax has to be collected at source which is given below :-

GSTR9/9C Big Update|Gstr9 Big Relief By Cbic|New Clarification By cbic

 

ICAI announces postponement of Foundation exams and Op-out scheme for all students appearing in November 2020 exams

 https://www.icai.org/post/important-announcement-nov2020-exams