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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 …
Project office used as auxiliary office for liaison not a PE unless core business is carried on therefrom – SC ABCAUS Case Law Citation:ABCAUS 3339 (2020) (07) SC Important case law relied upon by the parties:Commissioner of Income Tax and Another v. Hyundai Heavy Industries Co. Ltd., (2007) …
Sovereign Wealth Fund u/s 10(23EF). Applications, ITR, audit report & quarterly statement to be filed Circular No. 15 of 2020 New Delhi, 22nd July, 2020 Notification of Sovereign Wealth Fund under section 10(23FE) of the Income-tax Act, 1961 The Finance Act, 2020, inter alia, inserted clause (23FE) …
Securities and Exchange Board of India (Settlement Proceedings) (Amendment) Regulations, 2020 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 22nd July, 2020 Securities and Exchange Board of India (Settlement Proceedings) (Amendment) Regulations, 2020 No. SEBI/LAD-NRO/GN/2020/24.—In exercise of the powers conferred by Section 15JB of the …
Disclosure of assessee information to Income Tax Department. CBDT notifies four more bodies u/s 138 i.e. Cabinet Secretariat, IB, NCB & NIA MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 52/2020 New Delhi, the 21st July, 2020 S.O. 2411(E).—In pursuance of sub-clause (ii) of clause …
