KMS Newsletter May 2021

KMS Newsletter May 2021

Direct Tax:

  • Extended Due Dates For Various Compliances
  • Clarification Relating To Time Limit For Filing of Appeals Before CIT
  • Non-applicability of Provisions of Section 269ST
  • Cash Allowance In Lieu of LTC For Exemption U/s.10(5)
  • Fair Market Value of Capital Asset For The Purpose of Slump Sale
  • Launch of new E filing Portal of The Income Tax Department
  • Non-applicability of Pan U/S 139A For Eligible Foreign Investor
  • Procedure to Withdraw Settlement Application Filed U/S 245C

Company Law:

  • Clarification on Offsetting the Excess CSR Spent For FY 2019-20
  • Clarification on Spending CSR Funds
  • Clarification Regarding Gap Between Two Board Meetings Under
    Section 173
  • Relaxation on Levy of Additional Fees in Filing Certain Forms

Indirect Tax:

  • Measures for Trade Facilitation
  • Waiver of Late Fees of Form GSTR 3B
  • Relaxation in Interest Rates
  • Relaxation in Return Filing
  • Other Relaxations and Reliefs
  • Other Important Amendments

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