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Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
This order issued by the Central Board of Direct Taxes (CBDT) u/s 119 of the Income Tax Act, 1961, grants an extension for certain trusts/institutions/funds to furnish audit reports in the applicable Form No. 10B/10BB for the assessment year 2023-24. Previously, a circular allowed such entities to file the audit report in the incorrect form by March 31, 2024. However, some entities could not comply. To avoid genuine hardship, the CBDT now allows them to submit the audit report in the correct form on or before November 10, 2024. This extension aims to provide relief and facilitate compliance for the affected trusts/institutions/funds.
This order issued by the Central Board of Direct Taxes (CBDT) u/s 119 of the Income Tax Act, 1961, grants an extension for certain trusts/institutions/funds to furnish audit reports in the applicable Form No. 10B/10BB for the assessment year 2023-24. Previously, a circular allowed such entities to file the audit report in the incorrect form by March 31, 2024. However, some entities could not comply. To avoid genuine hardship, the CBDT now allows them to submit the audit report in the correct form on or before November 10, 2024. This extension aims to provide relief and facilitate compliance for the affected trusts/institutions/funds.
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