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The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has deleted the penalty as the defects in the statement of the reportable account were rectified within the time limit.The Bench of V....
Highlights Decision in wake of the COVID-19 pandemic. Hardship being faced by various stakeholders. New Delhi: Government has extended the timeline of 14 tax related matters in the wake of the COVID-19 pandemic. An official statement said that the Central Government, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the severe Covid-19 pandemic, has, on consideration of representations received from various stakeholders, decided to extend timelines for compliances under the Income-tax Act,1961 (hereinafter in the following cases...
Along with that the ministry also extended the timeline for a range of compliances due to COVID-19
New Delhi [India], May 20 (ANI): The Centre, in continuation of its commitment to address the hardship being faced by various stakeholders on account of the severe Covid-19 pandemic, has decided to extend timelines for compliances under the Income-tax Act, 1961 (hereinafter referred to as "the Act") after consideration of representations received from various stakeholders, said the Union Finance Ministry on Thursday.
Guidance for HMRC staff involved with cross-border exchange of information under the UK's international exchange agreements.