Month: August 2020
CBDT diverts IRS in the grade of PCIT, CCIT, CIT to newly created NeAC Delhi and ReACs, re-designates earlier created posts. Read CBDT Order CBDT has diverted 159 existing posts in the grades of CCIT, PCIT and CIT India Revenue Service (IRS) to the newly created National e-Assessment …
Handling of SCORES complaints by stock exchanges and Standard Operating Procedure for non-redressal of grievances by listed companies CIRCULAR SEBI/HO/OIAE/IGRD/CIR/P/2020/152 13 August, 2020 To,All companies whose securities are listed on SEBI recognized Stock Exchanges (through Stock Exchanges)All Recognized Stock ExchangesAll DepositoriesAll Investor Associations Dear Sir/ Madam, Sub: Investor …
E-assessment Scheme 2019 now renamed as Faceless Assessment Scheme 2019 E-assessment Scheme 2019 has now been renamed as Faceless Assessment Scheme 2019. Today, CBDT vide order 119 had directed that from 13.08.2020 all assessment shall be faceless and orders to be passed by the National e-Assessment Centre. These …
Only DG Investigation and Commissionerates TDS authorised to have power to order income tax survey u/s 133A with effect from 13th August, 2020. F. No. 187/3/2020-ITA-IGovernment of IndiaMinistry of Finance Department of Revenue (Central Board of Direct Taxes)***** North Block, New Delhi – 110001. Dated the 13th August, …
Do role of CA CS CMA as authorised representative going to end as per Taxpayers Charter? Under the provisions of section 288 of the Income Tax Act, 1961 an assessee/taxpayer may be represented by an authorised representative before an Income Tax Authority or ITAT. Sub section (2) provides …
New Taxpayers’ Charter issued. Know Rights & Obligations of taxpayers Ministry of Finance has issued detailed Taxpayers’ Charter in line with announcement by Prime Minister of India Indian Taxpayers’ Charter – Rights and Obligations of Taxpayers This Taxpayer Charter spells out the various commitments made by the Income …
All Assessment to be Faceless and orders to be passed by National e-Assessment Centre from 13.08.2020 F. No. 187/3/2020-ITA-IGovernment of IndiaMinistry of Finance Department of Revenue (Central Board of Direct Taxes)***** North Block, New Delhi – 110001.Dated the 13th August, 2020 ORDER Subject: Order under section 119 of …
Market value of stock instead of cost no basis to determine undisclosed income. Penalty u/s 271AAB not mandatory ABACUS Case Law CitationABCAUS 3363 (2020) (08) ITAT Important case law relied upon by the parties:M/s Sumangal Gems vs. DCIT In the instant case, the assessee had challenged the order …
Expenditure on ERP Software allowed as Revenue in nature despite being treated as deferred revenue expenditure in the books of accounts ABACUS Case Law CitationABCAUS 3362 (2020) (08) ITAT Important case law relied upon by the parties:CIT vs Associated Cement Companies Ltd: 172 ITR 257 (SC)Alembic Chemical Works …
Government appoints Shri Keshav Chandra, IAS as Director in the Serious Fraud Investigation Office (SFIO) under Ministry of Corporate Affairs MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 11th August, 2020 S.O. 2709(E).—In exercise of the powers conferred under sub-section (3) of Section 211 of the Companies Act, …
