Now, from 1 April 2021, CBDT has implemented new provisions by introducing the notification of Income Tax (6th Amendment) Rules, 2021 on 26 March 2021. A detailed guide for New Process of Renewal or Registration of 12A & 80G is as follows : Which is the Form that would be applicable for Provisional Registration and …
New Process of Renewal or Registration of 12A & 80G Read More »
KEY AMENDMENTS IN SECTION 11 TO 12AB Section 12AA – Procedure for Registration With effect from the 01/04/2021 following sub-section shall be inserted after sub-section (4), namely: “(5) Nothing contained in this section shall apply on or after the 01/04/2021”. Section 12AB After section 12AA of the Income-tax Act, the Section 12AB shall be inserted …
Registration U/s. 12A & 80G of Income Tax Act, 1961 Read More »
New Registration Procedure under section 12AB Deferred and Extended to 01st April 2021 from 31st December 2020 The new registration procedure prescribed under section 12AB for Charitable Trusts and other related provisions as introduced by the Finance Act, 2020 has been deferred and extended to April 1, 2021 by the Taxation and Other Laws (Relaxation …
Webcast by PM Modi Dated 13th August 2020 Hon’ble Prime Minister Narendra Modi on August 13, 2020, launched the “Transparent Taxation” platform while announcing multiple reforms to improve Tax compliance, faceless assessment, and ease of filing returns. As part of rehaul, the government has also proposed to reduce the threshold of the various transactions for …
TDS on Cash Withdrawal TDS on cash withdrawals came with Section 194N of Income Tax Act which was introduced by Finance (No. 2) Act, 2019. And was made applicable with effect from 01st September 2019. Sec 194N had a limited scope of TDS on cash withdrawal above 1 crore rupees @ 2%. The Finance Act …
