CA CMA Syam sundar

 CBIC issues SOP for scrutinizing returns from FY 2019-20 onwards The CBIC vide Instruction No. 02/2023-GST dated May 26, 2023 has issued Standard Operating Procedure ("SOP") for Scrutiny of Returns for Financial Year 2019-20 onwards. Attention is invited to the Instruction No. 02/2022-GST dated March 22, 2022, wherein a Standard Operating Procedure (SOP) was provided for scrutiny of returns under section 61 of Central Goods and Services Tax Act, 2017 (hereinafter referred to as "the CGST Act) read with rule 99 of Central Goods and Service Tax Rules, 2017 (hereinafter referred to as "the CGST Rules") for FY 2017-18 and 2018-19. It was mentioned in the said instruction that the said SOP was issued as an interim measure till the time a Scrutiny Module for online scrutiny of returns is made available on the ACES-GST application. In this regard, it is to inform that DG Systems has developed functionality "Scrutiny of Returns", containing the online workfl...

 "Guidelines Compulsory Selection of Income Tax Returns for Complete Scrutiny during FY 2023-24" CBDT issues guidelines for compulsory selection of Income Tax returns for Complete Scrutiny during the Financial Year 2023-24 along with the procedure for compulsory selection of Scrutiny. Parameters for compulsory selection of returns for Complete Scrutiny as follows:- 💡 Cases pertaining to Search, Survey, Seizure & Requisition under the Income Tax Act, 1961. 💡 Where Income Tax Return not filed in response to the notice issued u/s 142(1) of the Income Tax Act, 1961. 💡 Where specific information has been received pointing out tax- evasion for the relevant assessment year is provided by any law-enforcement agency, (Investigation Wing/ Regulatory Authority/ Agency, etc.). 💡 Where the assessee has been found to be claiming tax-exemption/deduction in the return under section 12A,12AB, 35(1)(ii)/ (iia)/ (iii), 10(23C), etc. without registration/approval granted by the income ta...

*SUMMARY OF CIRCULAR No. 06/2023 ISSUED BY CBDT - BENEFITS TO CHARITABLE TRUSTS AND SOCIETIES* All trusts approved/ registered under section 10(23C)(iv)/(v)/(vi)/(via) or section 12A/12AA as on 01.04.2021 were required to apply for re-approval by extended timeline of 25.11.2022.  Those who failed were covered by the Finance Act, 2023 from 1-4-2023 under the clutches of section 115TD (Dealing with Exit Tax).  1. Where Form No. 10A was not filed by the extended date of 25.11.2022 by the trusts approved/ registered as above then they can now file the same by 30.09.2023. Further, where such Trusts have furnished Form No. 10A after above date seeking provisional registration/approval, the relevant functionality on the e-filing portal may be used for surrendering the Form No. 10A seeking provisional registration/approval and such trusts can make a new application in Form No. 10A for registration/ approval within the extended period up to 30.09.2023. 2. Where the new trusts who were ...