आओ GST सीखें

Big relief for Vodophone and Cairns The Taxation Laws (Amendment ) Bill, 2021 introduced by FM today in the Lok Sabha  is about withdrawing retrospective amendment made in 2012 of taxing capital gains arising from indirect transfer of assets located in India. This will settle issue of arbitration as under Indian Income Tax  Act itself no tax will be leviable on such capital gains up to 28th May,2012 when this amendment came into force . Full amount of tax will have to be refunded but without interest as a specific provision inserted of no interest on such refund under section 244A. Demand created before 28th May,2012 will be nullified in 17 cases including 2 cases where there is stay . Undertaking to be furnished by these entities that no claim , damages, interest etc shall be filed.

The  Central Board of Direct Taxes (CBDT) has issued an order extending due dates for various compliance forms including the Quarterly statement in Form No. 15CC, Equalization Levy Statement in Form No.1, the Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64D and the Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C. (i) The Quarterly statement in Form No. 15CC to be furnished by an 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 31° July 2021 vide Circular No 12 of 2021 dated 25.06.2021, may be filed on or before 31st August 2021. (ii) The Equalization Levy Statement in Form No.1 for the Financial Year 2020- 21, which was required to be filed on or before 30. June 2021. as extended to 31s1July, 2021 vide Circular No 12 of 2021 dated 25 06.2021. maybe filed o...