CBDT clarification

CBDT Condones Delay in Filing Form 10-IC For AY 2020-21 Subject To Some Conditions

CBDT Condones Delay in Filing Form 10-IC For AY 2020-21 Subject To Some Conditions

Vide Circular No. 6/2022 Dated 17th March 2022, the CBDT has condoned delay in filing Form 10-IC subject to some conditions. It is said in the Circular that: The delay in filing of Form 10-IC as per Rule 21AE of the Rules for the previous year relevant to A.Y. 2020-21 is condoned in cases where …

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CBDT Issues Clarification On Form 10CCB Of Income Tax Act

CBDT Issues Clarification On Form 10CCB Of Income Tax Act

CBDT has issued a clarification on Form 10CCB on 12th January 2022. The clarification reads as under: To avoid errors in form filing and verification, kindly ensure that following points are considered: 1.) Please assign Form 10CCB to respective Chartered Accountant(CA) from “My CA” functionality 2.) Once CA successfully submits the form, taxpayer can accept/reject …

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CBDT clarification – Businesses need not deduct TDS on share/commodity purchases via exchanges

Overview :- The I-T department has introduced a provision relating to Tax Deducted at Source (TDS) from July 1, 2021, which would be applicable to businesses with turnover of Over Rs 10 crore. Such businesses while making any payments for purchase of goods exceeding Rs 50 lakh in a financial year to a resident would …

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