Month: July 2021
Income Tax exemption to amount received for medical treatment from employer or from any person for treatment of COVID-19 during financial year 2019-20 and subsequent years The Government has decided to provide income tax exemption to the amount received by a taxpayer for medical treatment from an employer …
Implementation of 2nd Phase of RMS for processing of Duty Drawback claims Risk Management System (RMS) in export was introduced with effect from 15.7.2013.by CBEC Circular No. 23/2013-Customs dated 24.06.2013. At that time it had been decided to implement RMS in export in two phases. In the first …
SEBI introduces Expected Loss based Scale by Credit Rating Agencies Securities and Exchange Board of India CIRCULAR SEBI/HO/MIRSD/MIRSD_CRADT/P/CIR/2021/594 July 16, 2021 To,All Credit Rating Agencies (CRAs) registered with SEBI Dear Madam / Sir, Sub: Introduction of Expected Loss (EL) based Rating Scale and Standardisation of Rating Scales Used …
SEBI Block Mechanism in demat account of clients undertaking sale transactions SEBI has worked out a mechanism of block in the demat account of clients undertaking sale transactions. When the client intends to make a sale transaction, shares will be blocked in the demat account of the client …
Step by Step Guide / Procedure for compliance check for ITRs non filer status for higher TDS rate u/s 206AB / 206CCA Step by Step Guide / Procedure for Compliance Check for ITRS Non filers for Section 206AB & 206CCA The Finance Act 2021 has inserted Section 206AB …
Govt. reconstitutes Advisory Board under Conservation of Foreign Exchange & Prevention of Smuggling Activities Act 1974 ( COFEPOSA ) for detention longer than three months MINISTRY OF FINANCE(Department of Revenue)(CENTRAL ECONOMIC INTELLIGENCE BUREAU) NOTIFICATION New Delhi, the 16th July, 2021 G.S.R. 491(E).—In exercise of the powers conferred by …
Once an asset is part of block, depreciation can not be denied non-use. The concept of “use” of assets has to apply upon block as a whole instead of an individual asset. In the instant case, the assessee had challenged the order passed by the CIT(A) in inter …
Supreme Court declares requirement of minimum age of 50 years for appointment in Tribunals as void and inoperative ABCAUS Case Law CitationABCAUS 3528 (2021) (07) SC Important case law relied referred:Union of India vs. R. Gandhi, President Madras Bar AssociationMadras Bar Association vs. Union of India & Anr.Rojer …
CBDT exempts income of Haryana Labour Welfare Board u/s 10(46) from 01-06-2020 to 31-03-2021 and for FY 2021-2022 to 2024-25 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 80/2021 New Delhi, the 14th July, 2021 S.O. 2826(E).—In exercise of the powers conferred by clause (46) …
CBDT exempts income of Himachal Pradesh Computerization of Police Society u/s 10(46) from 01-06-2020 to 31-03-2021 and for FY 2021-2022 to 2024-25 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 81/2021 New Delhi, the 14th July, 2021 S.O.2827(E).—In exercise of the powers conferred by clause …
