BigMoves Consulting

09/07/2021

Govt. allowed Multi Disciplinary Partnership Firms. With the modification in form 18, CA firms are now allowed to have partnership with CMAs, CSs, Advocates, Engineers, Architects, MBAs and others permitted under Section 53B.

05/07/2021

CBDT further relaxes electronic filing of 15CA/CB till 15-07-2021

26/06/2021

21/06/2021

CBDT issues functionality to verify whether the Vendors have filed tax return for compliance of Section 206AB and Section 206CCA. As per circular no 11 issued today , the deductor can verify from income tax portal about its vendor’s status of filing tax return in preceding 2 years. Further it has been clarified that preceding 2 previous years for FY 2021-22 shall mean FY 2018-19 and FY 2019-20. The name of specified persons who have not filed tax returns uploaded at the beginning of the year by CBDT will be valid for the entire FY as no further addition will be made to this list . However deletion will be done by CBDT in case any specified person in the list files its tax return . This will now make compliance of Section 206AB and 206CCA much easier as it will be one time exercise of verification in the beginning of the year of all vendors. No need now to obtain any declaration from the Vendors .

14/06/2021

*Relaxation in electronic filing of Income Tax Forms 15CA/15CB*

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically.

Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance.

In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.gov.in, it has been decided that taxpayers can submit the aforesaid Forms in manual format to the authorized dealers till June 30th, 2021.

Authorized dealers are advised to accept such Forms till June 30th, 2021 for the purpose of foreign remittances. A facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generation of the Document Identification Number.