Introduction With the intent to penalise the non-filers of the income tax returns, CBDT introduced new sections, namely, 206AB and 206CCA. Section 206AB (Clause 51 of Finance Bill 2021) Any person who is liable to…

Any person, being a buyer who is responsible for paying any sum to any resident (seller) for purchase of any goods of the value or aggregate of such value exceeding 50 lakh rupees in any…

Introduction: In view of the economic distress caused by the COVID-19 pandemic, the Finance Ministry unveiled a Rs. 20 Lakh Crore comprehensive package, known as the Emergency Credit Line Guarantee Scheme (ECLGS).  This package is…