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Income of Haryana Building & Other Construction Workers Welfare Board exempted u/s 10(46) for Fee, subscription, cess & interest income for five years from FY 2020-21 to 2024-25 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 78 /2021 New Delhi, the 9th July, 2021 …
No concealment penalty for claiming capital expenditure as revenue when there is no conscious and deliberate attempt by assessee to evade tax. In the instant case, the assessee had challenged the order passed by the CIT(A) confirming penalty u/s 271(1)(c) of the Income Tax Act, 1961 (the Act) …
Penalty u/s 271(1)(c) deleted as quantum addition was reduced significantly from 100% to 20% in respect of bogus purchases. In the instant case, the assessee had challenged the order passed by the CIT(A) confirming penalty u/s 271(1)(c) of the Income Tax Act, 1961 (the Act) imposed by the …
Shri Rao Inderjit Singh took charge as Union Minister of State in the Ministry Corporate Affairs (MCA), here today. Before taking charge as Union Minister of State for MCA, Shri Singh held Union Minister of State (Independent Charges) for Ministry of Statistics and Programme Implementation as also for …
New functionalities to be deployed on GST Portal in the month of July, 2021 As per GSTN advisory, the following changes were recently deployed/ would be deployed shortly, on the GST portal: (1) Registration Module Form/ Functionality Functionality released/ to be released for Taxpayers Current Status Timelines for …
CIT assuming jurisdiction u/s 263 has no power to direct initiating penalty proceedings u/s 271(1)(c) CIT Revision u/s 263 for AO accepting revised return without initiating penalty proceedings u/s 271(1)(c) quashed by ITAT following jurisdictional High Court order In the instant case, the assessee had challenged the revisionary …
SEBI reduces advance intimation timelines for modifications in the contract specifications of commodity derivatives contracts SEBI has specified the procedure for carrying out modifications in the contract specifications of commodity derivatives contracts vide circular no. SEBI/HO/CDMRD/CIR/P/2019/135 dated November 14, 2019. Based on their materiality, the contract modifications …
ICAI amends Form 18 to incorporate particulars of non CA partners under Regulation 53B ICAI has amended the Chartered Accountants Regulations, 1988 by notifying the Chartered Accountants (Amendment) Regulations, 2021. The amendment has substituted Form 18 , in Schedule “A” of the Chartered Accountants Regulations, 1988. Chartered Accountants …
Definition of Micro Small and Medium Enterprises – Retail & Wholesale Trade added The Ministry of Micro , Small and Medium Enterprises (MSMEs) has decided to include Retail and wholesale trades as MSMEs and they are allowed to be registered on Udyam Registration Portal. However, benefits to …
List of newly appointed and removed union cabinet ministers and minister of states in Modi cabinet of Ministers List of new cabinet / State ministers in Modi cabinet The following new ministers have been removed/appointed as the members of the Council of Ministers with effect from 7th July, …
