TAXATION

extend ITR & Tax Audit Report due dates

Extension of due date for furnishing of Income-tax returns, Tax audit reports etc.

extension of due date for furnishing of Income-tax returns, Tax audit reports etc. & [b] Issues faced by us after launching of new website MAHARASHTRA TAX PRACTITIONERS’ASSOCIATION (Formerly known as The Western Maharashtra Tax Practitioners’ Association) “Dnyan Mandir”, Yadav Vyapar Bhavan,Shivaji Road, 602, Shukrawar Peth,Pune – 411 002 Maharashtra 020-2447-0237mtpa81@gmail.comhttp://www.wmtpa.org SS / MTPA / IT representation …

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Do You Know the Certification an Assisted Living Resident Must Have Been Awarded by a Licensed Health Care Practitioner for Tax Deduction?

Do You Know the Certification an Assisted Living Resident Must Have Been Awarded by a Licensed Health Care Practitioner for Tax Deduction?

Suppose you or a member of your family lives in an assisted living facility. In that case, you know that living expenses are still rising every year. However, did you realize that tax deduction may be possible for some of those costs? Medical expenses are deductible, including some fees for long-term care, where your adjusted …

Do You Know the Certification an Assisted Living Resident Must Have Been Awarded by a Licensed Health Care Practitioner for Tax Deduction? Read More »

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Breaking :-Extension of time lines for electronic filing of Forms

Extension of time lines for electronic filing of various Forms (i)The Quarterly statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021, required to be furnished on or before 15th July, 2021 under Rule 37BB of the Rules, as extended to …

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CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS

CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS The Central Board of Indirect Taxes and Customs (CBIC) has w.e.f. 23.07.2021 abolished the requirement of periodic renewals of Licence/Registration issued to Customs Brokers and Authorised Carriers. This would greatly help reduce the compliance burden cast on the trade, which had to otherwise make application …

CBIC ABOLISHES LICENCE RENEWAL REQUIREMENT FOR CUSTOMS BROKERS, AUTHORISED CARRIERS Read More »

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Important updates for Individual and HUF- No need to file Form 10-IE in case ITR 1 or ITR 2

Option to opt for the new tax regime will be available for the taxpayers filing return of ITR 1 or ITR 2 in the return itself. There is no need for separate filing of Form 10-IE  Read below picture – relevant portion extracted – READ REGULAR BUSINESS NEWS? CLICK HERE TO DOWNLOAD APP

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GST on Govt. Tenders – Maharashtra AAR

GST on Govt. Tenders – Maharashtra AAR Government tenders to attract GST, deemed a service Maharashtra Authority for Advance Ruling (AAR): any tendering should attract GST on the processing fee and that 18% GST should apply wherever such forms are bought online or offline. Both online and offline tendering would be considered as “supply of …

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E-NEWSLETTER

37th Weekly Corporate Affairs Newsletter

We thought it would help to give you a sense of what’s available to you by subscribing to this 37th  WEEKLY CORPORATE AFFAIRS Newsletter- ·  SEBI Updates ·  MCA Updates ·  RBI Updates ·  IBC Law Updates ·  Labour Law Updates ·  PRESS Information ·  IPO & Investment Section ·  IRDAI (Insurance Sector) Updates ·  Department of Telecommunication  ·  MSME Updates ·  Competition Commission of India ·  Cabinet Decisions / New Laws …

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Due Date relaxation for Maharashtra – Profession Tax Returns

Due date for filing Profession Tax Returns in Maharashtra for the period March-2021, April-2021 & May-2021 is extended till 30th June, 2021 Read Complete Notification below :- FINANCE DEPARTMENTMadam Cama Marg, Hutatma Rajguru Chowk, Mantralaya,Mumbai 400 032, Dated the 17th June 2021. NOTIFICATION THE MABARASHTRA STATE TAX ON PROFESSIONS, TRADES, CALLINGS AND EMPLOYMENTS ACT, 1975. …

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PF Threshold Limit Raised to Rs. 5 Lakhs for Tax-Free Interest

PF threshold limit raised to Rs. 5 lakhs for tax-free interest PF threshold limit raised to Rs 5 lakh for tax-free interest where there is no contribution by employer. In the Union Budget 2021, FM had provided that interest on employee contributions to provident fund over Rs 2.5 lakh per annum would be taxed from …

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Concessional 5% withholding tax continues for debt interest income of FPIs

Concessional 5% withholding tax continues for debt interest income of FPIs The Income Tax department on Wednesday said that concessional rate of tax of 5 per cent shall continue for certain interest income of foreign portfolio investors. Clarifying on reports which said that concessional withholding tax rate of 5 per cent on interest income of …

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Introduction to US Tax Returns

Introduction to US Tax Returns

Introduction to US Tax Returns Introduction Just as we have different tax return forms for different purposes, The United States of America is no exception. U.S. also prescribes different types of tax returns for different purposes. The tax returns are differentiated on the basis of the income on which one is liable to pay taxes. …

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