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In a continuously changing business environment in a fast-developing country like India, there is a need to keep oneself abreast of the frequently changing and evolving regulatory mechanism. To assist our clients in keeping pace with these changes which are bound to be there in a developing economy, we keep analyzing the provisions/policies and express our views on the same as and when a need for the same arises.

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   SNR – Income Tax Update    Income Tax/2020-21/05 In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 [the Ordinance] on 31st March,...

SNR – Income Tax Update Income Tax/2020-21/04 Finance Act 2020 has introduced Section 285BB to the Income Tax Act, 1961 [the Act]. Section 285BB paves way for an Annual Information Statement [AIS] that shall be uploaded by the prescribed Income Tax Authority in the electronic filing account registered by the assessee at the designated income...

SNR – Income Tax Update Income Tax/2020-21/03 Central Board of Direct Taxes (CBDT), vide issuance of Income Tax (9th Amendment) Rules, 2020 has notified Safe Harbour Rules (SHR) for Assessment Year (AY) 2020-21. As per the notification, rates applicable from AY 2017-18 to 2019-20 will continue to apply for AY 2020-21. Introduced in 2009, safe...

SNR – Income Tax Update Income Tax/2020-21/02 Central Board of Direct Taxes (CBDT) has issued a clarification on 20th May 2020, that the provisions of section 269SU of the Income Tax Act 1961 shall not be applicable to a specified person having only B2B transactions i.e. no transaction with the retail customers if at least...

SNR – Income Tax Update Income Tax/2020-21/01 Finance Act 2020 has amended certain provisions of the Income Tax Act, 1961 having a great impact on the functioning of the registered Charitable Trusts and NGOs. These charitable trusts and NGOs have been burdened with the renewal of existing registration, setting an expiry date for registration, filing...

Insights

In a continuously changing business environment in a fast-developing country like India, there is a need to keep oneself abreast of the frequently changing and evolving regulatory mechanism. To assist our clients in keeping pace with these changes which are bound to be there in a developing economy, we keep analyzing the provisions/policies and express...