Month: August 2020
Comparison between present income tax assessment and faceless assessment Current vs Faceless Assessment Present Assessment System Faceless Assessment System Case selection through system, Manual & Tax evasion information 1. No discretion to any officer in selection 2. No selection except through system red alerts 3. No selection other …
Frequently Asked Questions (FAQ) on Portfolio Managers by SEBI SEBI has issued FAQs on Portfolio Mangers 1. Who is a Portfolio Manager? A portfolio manager is a body corporate, which,pursuant to a contract with a client, advises or directs or undertakes on behalf of the client (whether as …
Interest on net GST liability paid by debiting electronic cash ledger payable on delayed returns from 1st September 2020 Section 50 of the CGST Act 2017 provides for levy of interest on delayed payment of tax. The interest is also payable on claiming excess input tax credit (ITC). …
Export of PPE Kit, 2/3 ply surgical masks, N-95 and equivalent masks allowed DGFT vide Notification No. 29 dated 25.08.2020 has removed restriction on export of PPE medical coveralls & 2/3 ply surgical masks & allowed export of N-95 and equivalent masks under monthly quota. The Notification issued …
IBBI bans Insolvency Professional for three months for appointing unregistered valuer ABACUS Case Law CitationABCAUS 3372 (2020) (08) IBBI In a recent case, Disciplinary Committee of IBBI has banned an Insolvency Professional for a period of three months for appointing unregistered valuer Under regulation 27 of the corporate …
SEBI issues Master Circular for Mutual Funds For effective regulation of the Mutual Fund Industry, Securities and Exchange Board of India (SEBI) has been issuing various circulars from time to time. In order to enable the industry and other users to have an access to all the applicable …
Research and development activity of Covid-19 vaccine, drugs and medical devices brought under CSR Policy of companies MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 24th August, 2020 G.S.R. 526(E).—In exercise of the powers conferred by section 135 and sub-sections (1) and (2) of section …
Contribution to more R&D activities brought under CSR by amending Schedule-VII of the Companies Act 2013 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 24th August, 2020 G.S.R.525(E).—In exercise of the powers conferred by sub-section (1) of section 467 of the Companies Act, 2013 (18 of 2013), the …
Special Drive to complete disposal of all un-claimed/un-cleared/seized/confiscated goods due for disposal Instruction No 17/2020-Customs F .No. 450/179/2017- Cus.IVGovernment of India Ministry of Finance Department of Revenue(Central Board of Indirect Taxes and Customs)**** Room 277, North BlockNew Delhi, dated the 10th August, 2020 ToAll Principal Chief Commissioner/Chief Commissioner …
Law does not debar assessee from making a claim which he believes is plausible and knowing that it will be examined by AO ABACUS Case Law CitationABCAUS 3371 (2020) (08) HC Important case law relied upon by the parties:Alpati Venkataramiah v/s. CIT – 57 ITR 185 (SC)Union of …
