direct taxes

CBDT has notified the e-Settlement Scheme, 2021 framed by the Central Government . The Scheme is meant to deal with pending applications in respect of which the option u/s 245M has not been exercised and have been allotted or transferred by CBDT to the Interim Board. Please refer to the notification here.
Ministry of Finance has extended the applicability of Transfer Pricing Tolerance Range to AY 2021-22 and has also retained the tolerance range u/s. 92C of the Income-tax Act, 1961 (for AY 2021-22 at 1% for wholesale trading and 3% in all other cases. Please refer to the notification here.
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