Month: May 2020
Govt increases maturity period of KVP, reduces maturity value of NSC VIII issue & National Savings Recurring Deposit Scheme, interest rates of National Savings (Monthly Income Account) Scheme also reduced The Govt has increased the maturity periods of various popular savings schemes of common man namely; (i) Kisan …
CBDT gives relief on residency provisions due to lockdown & suspension of international flights Govt has granted relief on residency status to NRIs/foreign visitors whose stay in India got prolonged due to lockdown. Further, as per tweet by CBDT, Circular for determining the residential status in such cases …
CBDT defers requirement of fresh registration of trusts under section 12AB to 01.10.2020 due to Covid-19 Situation The Finance Act 2020 had made changes in the procedure for approval/registration process of trusts, institutions, funds, university, hospital etc and approval in the case of association, university, college, institution or …
SEBI (Payment of Fees) (Amendment) Regulations 2020 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th May, 2020 SECURITIES AND EXCHANGE BOARD OF INDIA (PAYMENT OF FEES)(AMENDMENT) REGULATIONS, 2020 No. SEBI/LAD-NRO/GN/2020/011.—In exercise of the powers conferred under Section 30 of the Securities …
Show Cause Notice, Order and Penalty passed during lockdown period quashed as assessee had no opportunity to explain the case. ABCAUS Case Law Citation:ABCAUS 3307 (2020) (05) HC In this case, a Petition was been filed by the assessee praying for quashing the order passed by the Income …
CBDT notifies Shri Ram Janmabhoomi Teerth Kshetra for benefit of deduction u/s 80G for donations made from AY 2021-22 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 24/2020 New Delhi, the 8th May, 2020 INCOME-TAX S.O. 1434(E).—In the exercise of the powers conferred by clause …
Provisional Custom Clearance of Goods under India’s Trade Agreements. Digitally signed copy or unsigned copy of Certificate of Origin (CoO) to be valid Instruction No. 04/2020 -Customs F. No. 15021/10/2020-ICD (CBEC)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsInternational Customs Division***** Room No. 49, …
Non filing appeal within statutory limitation period not a case of violation of fundamental right, much less statutory or legal right -SC ABCAUS Case Law Citation:ABCAUS 3306 (2020) (05) SC Important case law relied upon by the parties:Electronics Corporation of India Ltd. vs. Union of India & OrsOil …
RBI issues FAQ on Cash Withdrawal Facility at Point of Sale (PoS) Terminals In order to enhance the customer convenience in using the plastic money, RBI in 2009 permitted cash withdrawals at POS terminals. initially, this facility was made available for all debit cards issued in India, upto …
CBDT amends Rule 44G prescribing procedure for making application to give effect to a DTAA to give relief to a resident taxpayer aggrieved by action of foreign tax authority CBDT amends Rule 44G for making application to give effect to a DTAA MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD …