C D Shah & Associates

30/09/2020

29/09/2020

*Important updates for CA in Practice*

As per CBDT instructions, from 01.10.2020, any audit report or certificate (including 3CA/3CB, 15CB, etc) uploaded by a CA on Income Tax portal would become INVALID if UDIN is not uploaded along with Form or within 15 days of uploading the Form.

The option to enter UDIN is already enabled in e-Filing portal of 'ARCA'.

30/08/2020

Kindly note that there is a new and important amendment in the Income tax provisions from *01.10.2020.*

The amendment is applicable to every merchant or trader whether dealing in textiles, engineering, trading, bullion or in job works and *if the turnover in the previous year i.e. in the F.Y. 2019-2020 exceeds Rs. 10 crores and if any sale of any product is made to any party where the amount exceeds Rs. 50 lakhs then Income tax will also be added to the invoice i.e. *TCS @ 0.75% will be charged along with GST, in the invoice.*