CBDT issues corrigendum to include sec. 43B(h) disallowance under clause 22 of Form 3CD

The CBDT notified changes to the Form 3CD vide Notification No. 27/2024 /F. No. 370142/3/2024-TPL, dated 05-03-2024. The changes duly include disclosure of section 43B(h) disallowance under clause 26. However, Clause 22, pertaining to interest restrictions under the MSME Development Act, was not amended. Now, said clause is amended to include disclosure of the amount […]

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GST Cir No. 183/15/2022: Mismatch in Claimed ITC in GSTR-3B & 2A

Many a times, in the cases when the Input Tax Credit claimed in GSTR-3B and GSTR-2A are inconsistent, a certificate is necessary to demonstrate the validity of the supply made. The Central Board of Indirect Taxes and Customs (CBIC) had made it clear that the GST department can request a certificate from a Chartered Accountant or a

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CBDT notifies ITR-7 applicable for AY 2024-25

Income Tax:  The Central Board of Direct Taxes (CBDT) has notified the Income-tax Return (ITR) form 7 applicable for filing of return for the Assessment Year 2024-25. The Board has already notified ITR forms 1 to 6 applicable for AY 2024-25. ITR-7 is an income tax return form designed for entities such as firms, companies, local

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