July 2021

india legal update covid

Income Tax Update

Topic 1 | Identification of Non-Filers of Income Tax Return  

• Legal  Update:

o The Income tax office has announced a new system on its web-portal to identify non-filers (specified persons) of income tax return. 

india legal update covid

Relaxation in Accounting Rules for Small and Medium Companies in India

Date of Approval – 23 June 2021
• Effective Date of Implementation of Accounting Rules – 1 April 2021
• Legal Framework – The Companies Act 2013 | Companies (Accounting Standards) Rules, 2021
• Government Authority – Ministry of Corporate Affairs (MCA), Government of India
• Web-link – Copy of Accounting Rules in India


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