Month: January 2021
Annual letting value of property u/s 23(1)(a) on the basis of Municipal Valuation accepted by ITAT ABCAUS Case Law CitationABCAUS 3445 (2021) (01) ITAT Important case law relied referred:CIT v/s Mani Kumar Subba (2011 333 ITR 838)CIT v/s Tip Top Typography (2014 368 ITR 330) In the instant …
FCRA Charter for the Banks The Foreign Contribution (Regulation) Act, 2010 (FCRA, 2010) assigns a very crucial role to banks. All foreign contributions (FCs) received from any “foreign source”(FS) must be necessarily received only in a bank account and must be routed and spent only through …
Charter for associations who have been granted prior permission or registration under FCRA • Registration and Prior Permission is granted for a definite cultural, economic, educational, religious or social programme under sections 11 and 12 of the FCRA, 2010. An association is granted registration for five years. …
Charter for associations applying for grant of prior permission/registration under the Foreign Contribution (Regulation) Act 2010. • With a view to streamlining the procedures and ensuring effective enforcement and compliance, the Foreign Contribution (Regulation) Act, 2010 has been further amended on 28th September, 2020. Accordingly, the FAQs …
RBI Strengthens Grievance Redressal Mechanism in Banks-Modified disclosures to be given in Annual Report Today, RBI issued a comprehensive framework comprising of enhanced disclosures on complaints to be made by the banks, recovery of the cost of redress of maintainable complaints from the banks against whom the number …
Relaxation on levy of additional fees in filing e-forms AOC-4, AOC-4 (CFS), AOC-4 XBRL and AOC-4 Non-XBRL for FY 2019-20 till 15.02.2021 General Circular No. 04/2021 F. No. 01/34/2013 CL-V -Part-IIIGovernment of IndiaMinistry of Corporate Affairs 5th Floor, ‘A’ Wing, Shastri Bhawan, Dr . Rajendra Prasad Road, New …
Plurality of transactions no condition to be classified as Casual Trader under Rajasthan Sales Tax Act – Supreme Court. Grammatical construction may be departed from to avoid anomaly – Supreme Court ABCAUS Case Law CitationABCAUS 3444 (2021) (01) SC Important case law relied referred:Tirath Singh vs. Bachittar Singh …
Extension of timelines for filing by LLPs – ICSI representation to MCA The Institute of Company Secretaries of India (ICSI) has requested the Ministry of Corporate Affairs for further extension in timelines for filings by LLPs. In view of the covid-19 pandemic the ICSI has requested for extension …
Prosecution u/s 276C(2) quashed as accused filed revised return which was assessed refund was granted by the Department ABCAUS Case Law CitationABCAUS 3443 (2021) (01) AC In the instant case, the Assistant Commissioner of Income Tax, (ACIT/AO) had filed a complaint against the accused assessee for the offence …
Filing belated return & non-registration u/s 12AA no valid reasons to issue notice u/s 148 in absence of other tangible material other than return filed ABCAUS Case Law CitationABCAUS 3442 (2021) (01) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in …
