The Central Board of Indirect Taxes and Customs, via Notification No. 31/2021 - Central Tax has exempted taxpayers having an aggregate turnover of Rs. 2 crores from the requirement of filing an annual return for FY 2020-21.
CBDT has notified the omission of certain rules and forms including Rules 5A, 5AB, 6ABB, 12B, 12BA, 16D, 16DD, 16E, 16F, 18B, 18BB, 18BBA, 18DD, 18DDA, 20AB, 29AA, 29D, 37, 37E, 37F, 44A, 48, 123 and 124 via Income-tax (21st Amendment) Rules, 2021.
GoI has received Rs. 5,47,399 crore up to June 2021 comprising Rs. 4,12,680 crore os Tax Revenue, Rs. 1,27,317 crore of Non Tax Revenue and Rs. 7,402 crore of Non Debt Capital Receipts that includes Capital Receipts and Disinvestment Proceeds.
Income tax refunds of Rs. 13,341 crore have been issued in 19,89,912 cases & corporate tax refunds of Rs. 30,651 crore have been issued in 1,12,567 cases.
ICAI has released the Exposure Draft of Disclosures of Accounting Policies - Amendments to Ind AS 1, Presentation of Financial Statements. Comments on the same may be submitted either electronically or via email or post by 31.08.2021.
The Cabinet, on 28th July 2021 approved amendments to the LLP Act, 2008 vide LLP Amendment Act, 2021. These amendments to the LLP Act were suggested in Union Budget 2021, presented by FM Nirmala Sitharaman in the parliament on 1st February 2021.
![[FAKE] Finance Ministry is providing emergency cash where recipients will receive Rs 1,30,000 per month for 6 months](/img/previewthumb/custom/fake.jpg "[FAKE] Finance Ministry is providing emergency cash where recipients will receive Rs 1,30,000 per month for 6 months")
The WhatsApp forward claiming that the Finance Ministry is providing emergency cash where recipients will receive Rs. 1,30,000 per month for 6 months is FAKE. Kindly don't believe this message.
GoI has announced various relief measures for several sectors under the Aatma Nirbhar Bharat Abhiyan and has taken a number of initiatives to support the MSME Sector in the country, especially in the COVID-19 pandemic situation.
The COVID-19 epidemic has temporarily affected various sectors including the Micro, Small and Medium Enterprises in the country. Economic activities have contracted due to the strict lockdown measures imposed by the Government.
A functionality to check status of bank account details update for the taxpayers who have taken new registration at GST Portal but have not yet furnished the same, has been introduced, in view of Rule 10A of the CGST Rules 2017.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
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