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CA exam timetable announced for May 2022 ICAI exams
CA exam: No. 13-CA (EXAM)/M/2022: In pursuance of Regulation 22 of the Chartered Accountants Regulations, 1988, the Council of the Institute of Chartered Accountants of India is pleased to announce that the next Chartered Accountants Foundation, Intermediate and Final Examinations will be held on the dates and places which are given below provided that sufficient […]
Read moreFix IT portal glitches or we will extend ITR deadline: Gujarat HC
The Gujarat high court has ordered the Central Board of Direct Taxes (CBDT) to resolve technical issues that taxpayers have been experiencing while filing their Tax Audit Report (TAR) and income tax returns (ITR), threatening to extend the deadline to March 15 if the job is not completed on time. According to the news reports, […]
Read moreBudget 2022: Top 10 expectations by tax professionals
Union Finance Minister Nirmala Sitharaman will present the Union Budget 2022-2023 in Parliament on 1 February at 11.00 am. The Budget 2022 Session of Parliament will start on 31 January with President Ram Nath Kovind addressing both the Houses. The session will be conducted in two phases — the first phase of the Session will end on […]
Read moreCAs and IT practitioners included in ‘exempted category’ in Delhi
Offices of the Chartered Accountants (CA) and Income Tax practitioners are included in the exempted category by the Delhi Disaster Management Authority (DDMA). This comes days after the state government ordered the closure of all private offices in Delhi, except those which have been exempted. The private offices, which were till now operating with 50% workforce, have been […]
Read moreIncome Tax: Increase in Standard Deduction to Rs 1 Lakh for Salaried
This year’s Budget session is about to begin, and the salaried class in India is looking forward to many of the changes that will impact their personal lives. According to reports, the government is considering increasing the standard deduction limit for salaried employees and pensioners by 30 to 35 percent during the upcoming budget session. […]
Read moreReplace Income Tax with Expenditure Tax, expert’s input for budget 2022
Budget 2022-23: According to some newsreports, Every stimulus package to boost the economy has its own burdening impact on the country’s fiscal position. A stimulus through tax reforms, on the other hand, will be more effective in establishing economic resilience in a long-term manner. In the run-up to formalising the annual budget for 2022-23, Finance Minister […]
Read moreNo extension for ITR whose date was 31st Dec; know summary of all extension
The last date of Income Tax Return for individual non-audit assessee has ended on 31st December 2021. ITR filing by taxpayers not covered under audit was extended from 30th Sep 21 to 31st Dec 21, it has not further extended by CBDT Circular No.01/2022. Summary of all extension are as follows- The Press release for the date extension […]
Read moreICAI writes to CBDT for waiver of penalty on late filing of income tax audit reports
According to an official statement, the Institute of Chartered Accountants of India (ICAI) has requested that the Central Board of Direct Taxes (CBDT) to waive the penalty for furnishing an audit report after January 15 under any provision of the Income Tax Act for the Assessment year 2021-22. The representation was made last Thursday to the […]
Read moreGST Interest Calculator: GST Portal Upcoming functionality in GSTR-3B
GST Interest Calculator: As a facilitation measure for taxpayers & for assisting the taxpayers in doing a correct self-assessment, a new functionality of interest calculator is being released in GSTR-3B. This functionality will arrive at the system computed interest on the basis of the tax liability values declared by the taxpayers. The interest applicable, if […]
Read moreFor crypto tax rules clarity, IndiaTech writes to Finance Minister
IndiaTech, an industry association that represents consumer internet startups, has written to Finance Minister Nirmala Sitharaman, requesting clarification on crypto tax rules in the Union Budget 2022-23. IndiaTech is a group of major cryptocurrency exchanges, some of which have recently been investigated for allegedly evading goods and services tax. CoinSwitch Kuber, WazirX, and CoinDCX are among […]
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