Recent news & event
1. Budget 2021 demands officer to enquire/give opportunity/get approval before issue of notice 2. Since 148A requires senior officers’ approval, duplication u/s 148 r.w.s 151 is withdrawn 3. Widen the scope of suggestive information to form for the officer to believe of escapement of income 4. It covers information from Risk management strategies, audit objections,…
1. Any benefit or perquisite provided to a resident 2. Arising from carrying out of a business or exercising of a profession by such resident, 3. Provider shall ensure TDS @ 10% of the value of such benefit or perquisite. 4. Such tax is to be required to be deducted before providing such benefit or perquisite…
“All work and no play makes Jack a dull boy.” For any ordinary person, this is just a proverb, but for us at S N & Co., this is a mantra. Surely the brilliant minds that are at work here deserve a day of fun and relaxation. And that’s why on the 29th of January…
1. Under the new regime reopening is based on Information flagged by risk management strategy & not reasons to believe 2. 148A – mandates AO to enquire about information before issuing of notice u/s 148 3. The word used u/s 148A if required (at the end) suggests that where the information is factually not correct,…
SEP covers the below-mentioned transactions E-com transaction, E-books, music, video streaming, Online app/software purchase, Online Gaming Service Troubleshooting service Subscription service The Threshold limit recently provided by CBDT for SEP Tax is Aggregate payment for transactions with a person in India exceeds INR 2 crore in a year NR interacts with 3.00 lacs or more…
1. Registration and approval of NGOs is made completely electronic under which a 16 digit URN will be issued 2. Registration is valid for 3 years for provisional cases and 5 years for final registration. 3. Application is under form 10A by existing trusts for renewal and new trusts for provisional registration. Deadline is 30/6/2021…
