KMS Newsletter March 2021

Important Updates on Direct Tax, Company Law, and Indirect Tax

Direct Tax:

  • Extension of various Due Dates
  • Search Case – Vivad Se Vishwas
  • Clause 30C and 44 in Tax Audit
  • Concessional Rate of Tax on Interest Income of FPIs
  • Clarification for prescribed IT Authority U/s 143(2)
  • Amendment in Form 12BA, 16, and 24Q
  • Insertion of Rule 29BA – Payment to Non-Residents
  • Reporting of various Income U/s 285BA

Company Law:

  • Accounting Software with Audit Trail
  • Amendment Under Schedule V of Companies Act, 2013
  • Amendment in Schedule III of Companies Act, 2013

Indirect Tax

  • Clarification – Refund related matters
  • Amendment in Finance Act
  • Other Amendments