New functionality issued for compliance checks for sec 206AB & 206CCA to ease compliance burden of tax deductors/collectors vide CBDT Circular No. 11/2021

CBDT issued Circular No. 11 of 2021 dated 21.06.2021 on implementation of section 206AB & 206CCA with respect to higher tax deduction/collection for certain non-filers. New functionality issued for compliance checks for sec 206AB & 206CCA to ease compliance burden of tax deductors/collectors.

Refer copy of Circular:

Finance Ministry to hold meeting on 22nd June, 2021 with Infosys on issues in new Income Tax Portal

Ministry of Finance issued Press release on 15th June says that Finance Ministry to hold meeting on 22nd June, 2021 with Infosys on issues in new Income Tax Portal

Senior officials of the Ministry of Finance, Government of India, will hold an interactive meeting on the 22nd of June, 2021, between 11:00 AM to 01:00 PM with Infosys (the vendor and its team) on issues/glitches in the recently launched e-filing portal of the Income Tax Department. Other stakeholders including members from ICAI, auditors, consultants and taxpayers will also be a part of the interaction. The new portal has been fraught with several technical glitches/issues leading to taxpayer inconvenience. Written representations on the problems/difficulties faced in the portal have also been invited from the stakeholders. Representatives from Infosys team will be present to answer queries, clarify issues and receive inputs on the working of the portal, to remove glitches and sort out issues faced by the taxpayers.

Weekly YouTube video compilation on Income tax, GST, Financial awareness & Entreprenurship (06th June 2021 to 12th June 2021

Dear Sir,

Please find below Weekly YouTube video compilation on Income tax, GST, Financial awareness & Entreprenurship (06th June 2021 to 12th June 2021:

Date 12-06-2021 GST Topic New functionalities on GST Portal -11 June 2021 https://www.youtube.com/watch?v=I6rTi0Zsc5c
Minute 5.18

Date 12-06-2021 GST Topic GST on E-Commerce & Electronic Commerce Operator https://www.youtube.com/watch?v=1Ttjb0ltyX0
Minute 4.42

Date 11-06-2021 Entreprenurship Topic E-Commerce Business Models II Self-run model II E-platform/marketplace model II Hybrid model https://www.youtube.com/watch?v=kN3x2eYk4-o
Minute 11.57

Date 10-06-2021 Financial awareness Topic What are Bank Loan Options for Women entrepreneur https://www.youtube.com/watch?v=LF-wiSUfEdU
Minute 5.35

Date 09-06-2021 Income Tax Topic Tax benefits available to Producer Companies II Section 80PA II Tax Deduction for Producer Companies https://www.youtube.com/watch?v=zssPO4OVtO0&t=83s Minute 2.29

Date 09-06-2021 Financial awareness Topic Common borrowing Mistakes that can impact your finance https://www.youtube.com/watch?v=jS52mchI5L8 Minute 5.16

Date 08-06-2021 Financial awareness Topic How to prepare financially for unexpected events? https://www.youtube.com/watch?v=K_PoySSEV_w&t=110s Minute 13.26

Date 07-06-2021 Income Tax Topic Tax implications if your medical treatment/covid treatment is crowdfunded https://www.youtube.com/watch?v=XiBT1yV7scY&t=143s Minute 3.46

Date 06-06-2021 Entreprenurship Topic How to Start Grocery Store business? https://www.youtube.com/watch?v=0we73JX6Weo&t=829s
Minute 27.1

Date 05-06-2021 Income Tax Topic New Taxpayer friendly e-filing Portal (New Features) -MOF Press Release dated 05 June 2021 https://www.youtube.com/watch?v=gN93Fni22zQ&t=124s
Minute 5.06

Regards,
Bipul Kumar

Monthly compilation of Video on Company Law, Succession planning, Income Tax & GST

Dear Sir,

Please find below YouTube link of Monthly compilation of Video on Company Law, Succession planning, Income Tax & GST for your easy reference:

👉 Company Law

Setting of Branch offices of Foreign Company in India
https://youtu.be/Y30q0ZgcMcU

Nidhi Company-each & everything
https://youtu.be/maS_1205vO4

Producer Company-each & everything https://youtu.be/MP-t3sg_qWg

CSR Funding: Ngo registration for getting CSR Funding https://youtu.be/j-OG40NJl9Q

Managerial Remuneration
https://youtu.be/a9DHcuu8iyI

Presentation of Financial Statements w.e.f. 01st April 2021
https://youtu.be/kExSlqi14os

Limited Liability Partnership & its suitability
https://youtu.be/_06iCBKsDc8

👉 Succession planning

Each & everything about Will https://youtu.be/W80MGdy0kio

Partition of Property https://youtu.be/IaQ03qcRWDg

👉 Income Tax

Fair Market Value calculation for Section 50B (Slump Sale) of Income Tax Act, 1961Updated by Notification No. 68/2021 -24th May, 2021
https://www.youtube.com/watch?v=UILmcJxns9k

Extension of ITRs, Tax Audit Report, TP Audit Report, Belated/Revised Return for FY 2020-21 https://youtu.be/scXDMjZ9v2k

Tax benefits for Startup
https://youtu.be/1DDJ1_LlhfA

New Rules of for registration u/s 12AB & 80G w.e.f. 01-04-2021 https://youtu.be/JfKVfZ9mk6Q

👉 GST

Accounts & records maintained under GST
https://youtu.be/k4xmiu_9mE0

GST Amnesty Scheme (July 2017 to April 2021-GSTR 3B Return)
https://youtu.be/NQ_XeOv_uXU

Late fees Rationalisation for April 2021 onwards period
https://youtu.be/NZMZhi5mG2k

Simplification of Annual Return for FY 2020-21 https://youtu.be/L21Over9X3w

Covid related measures for taxpayers https://youtu.be/Mb7Ae2LMm1E

Regards
Bipul Kumar

Extension of due dates of ITRs, TDS, tax Audit report, Belated/revised return etc. For AY 2021-22 (FY 20-21) Circular dated 20 May 2021

Dear Friends,

Please find below link of YouTube video on Extension of due dates of ITRs, TDS, tax Audit report, Belated/revised return etc. For AY 2021-22 (FY 20-21) Circular dated 20 May 2021

Regards,
Bipul Kumar

Is it possible to file Tax return after closure of filing window? II टैक्स रिटर्न्स फायलिंग AY एंडिंग से 6 वर्षों तक II

Dear Friends,

Please find below YouTube Link of Video on 💠Is it possible to file Tax return after closure of filing window? II टैक्स रिटर्न्स फायलिंग AY एंडिंग से 6 वर्षों तक II https://www.youtube.com/watch?v=WynFklJZgFY

Regards,
Bipul Kumar