Topics In Demand
Notification
New

No notification found.

MOF - Submission on tech-related and procedural issues under Corporate Tax
MOF - Submission on tech-related and procedural issues under Corporate Tax

June 3, 2024

20

0

We, along with the industry, held detailed discussions with the senior officials of Ministry of Finance on April 26 and 27, 2024 on key measures to improve ease of doing business under corporate taxes. Pursuant to the meeting, we have made a detailed submissions giving ssuggestions on tech-related and procedural issues under Corporate Tax.. These, inter-alia, include the following:

  1. Automatic adjustment of refund against outstanding tax demands under S. 245 of Income Tax Act, 1961
  2. Erroneous processing of tax returns under S. 143(1)(a) of IT Act
  3. Non availability of One-Time Password (OTP) on o􀆯icial email-id of non-resident while filing Form 10F
  4. Recommendations in relation to faceless assessments
  5. Requirement to issue and maintain TDS certificates
  6. Insertion of PAN and invoice column in Form 26AS, amongst others

We believe, implementing these measures will significantly improve ease of doing business and provide certainty to the industry. Please write to tejasvi@nasscom.in for more information.


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


Download Attachment

202405_CorporateTaxIssues_nasscomsubm.pdf

Tejasvi

© Copyright nasscom. All Rights Reserved.