JBK & Associates

04/04/2022

As you can see that the current tax rates are higher than the new tax rate but there are lots of exemptions and deductions through which you can lower your taxable income under the current tax regime.

To decide which tax rate to opt for, you need to first calculate the tax payable on taxable income considering the exemptions and deductions, and then compare it with the tax payable on taxable income foregoing those exemptions and deductions.

14/02/2022

The MCA provided relaxation on levy of additional fees till 15th March 2022 for filing of e-forms AOC-4, AOC-4 (CFS), AOC-4, AOC-4 XBRL AOC-4 Non-XBRL and March 31, 2022 for MGT-7/MGT-7A for the financial year ended on 31st March 2021.

19/11/2021

Income tax slabs

09/09/2021

ITR filing date extended by CBDT

16/08/2021

11/08/2021

Reserve Bank of India has asked banks to monitor availability of cash in ATMs and ensure timely replenishment to avoid cash-outs. It has clearly said that, From 1st October 2021, Cash-out at any ATM of more than ten hours in a month will attract a penalty of Rs. 10,000/- per ATM. If a customer is not able to withdraw cash due to non-availability of cash in a particular ATM will be counted as an instance of cash-out in an ATM. RBI issued notification of Scheme of Penalty for non-replenishment of ATMs.

It has asked all the banks and white label ATM operators to put in place a robust system for monitoring the availability of cash in ATMs. Banks shall submit system generated statements on downtime of ATMs due to non- replenishment of cash to the Issue Department of RBI for every month within five days of the following month.

13/07/2021

Directors having DIN or Director Partner Identification Number (DPIN) and the directors allotted with a DIN/DPIN by 31st March 2021, need to file the eForm DIR-3 KYC before 30th September 2021.

12/07/2021

Portal :

The new IT Portal gets information / data / linkages from various other authorities such as BANKS, CIBIL, CAMS, TRACES, CDSL, IRDA, GSTN, STOCK EXCHANGES

26/06/2021

In a measure aimed to grant relief, Central Govt announces income-tax exemption to the amount received by a taxpayer for medical treatment for Covid-19, from employer or from any other person & on Ex-gratia amounts received from employer or from other persons, on death due to Covid.

23/06/2021

Direct admission to
Granting exemption of

23/06/2021

16/06/2021

CBDT vide Notification No. 73/2021 dated 15 June 2021 notified Cost Inflation Index (CII) as 317 for F.Y. 21-22.