1. CBDT has notified new income tax return forms SAHAJ ITR-1, ITR-2, ITR-3, SUGAM ITR- 4, ITR-5, ITR-6, ITR-V and ITR- Ack, for the Financial Year 2021-22 [Assessment Year 2022-23], the ministry of finance said in a release on 1 April 2022.
2. CBDT notifies Section 206C(1G) [TDS on remittance through LRS exceeding 7 lakhs or overseas tour package] not to apply to individuals visiting India who are non-residents as per Section 6(1)/(1A).
3. CBDT issued Circular No. 08/2022 dated March 31, 2022 regarding the extension of timeline for electronic filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the Income-tax Act, 1961 to 30 September,2022.
4. DGFT issued Notification No. 64/2015-2020 dated March 31, 2022 to extend the validity of the existing Foreign Trade Policy (“FTP”) 2015-2020 till September 30, 2022 from March 31, 2022.
5. DGFT issued Public Notice No. 53/2015-2020 dated March 31, 2022 to extend the validity of the existing Hand Book of Procedures (“HBP”), 2015-20 till September 30, 2022.
6. National Credit Guarantee Trustee Company Limited (NCGTC) extended the Emergency Credit Line Guarantee Scheme (ECLGS) beyond March 2022, till March 2023.
Tax & DGFT Updates
