Day: July 24, 2020
CBDT amends TCS Rules. Amount received or debited on which TCS was not collected from buyer to be reported MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification 54/2020 New Delhi, the 24th July, 2020 INCOME-TAX G.S.R.464(E).—In exercise of the powers conferred …
The Companies (Indian Accounting Standards) Amendment Rules, 2020 The Ministry of Corporate Affairs has notified the Companies (Indian Accounting Standards) Amendment Rules, 2020. The Rules amend the Companies (Indian Accounting Standards) Rules, 2015. Amendments have been made to the following IndAS notified so far: IndAS 1 related to …
RBI releases Financial Stability Report, July 2020 Today, the Reserve Bank released the 21st Issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, and the resilience of the financial …
160th Income Tax day. Finance Minister/Secretary and CBDT Chairman lauds IT Department for being responsive to people during Covid-19 pandemic time. CBDT observes 160th Income Tax day The Central Board of Direct Taxes (CBDT) and all its field offices across India today observed the 160th anniversary of Income Tax …
Consumer Protection (E-Commerce) Rules, 2020 notified. Type of e-commerce entities and their duties and responsibilities Consumer Protection (E-Commerce) Rules 2020 The Rules shall apply to all goods and services bought or sold over digital or electronic network including digital products, all models of e-commerce, including marketplace and inventory …
Non compete fee paid under deed of covenant held not taxable. Revenue has no business to second guess commercial or business expediency – SC ABCAUS Case Law Citation:ABCAUS 3340 (2020) (07) SC Important case law relied upon by the parties:Guffic Chem (P) Ltd. v. CIT (2011) 4 SCC …
CBDT notifies authority for sharing of information regarding income-tax assessees for identifying eligible beneficiaries under PM-KISAN Yojana MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 51/2020 New Delhi, the 21st July, 2020 S.O. 2415(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of …
