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Some tax evasion sought by assessee is a necessary condition for imposition of penalty u/s 271(1)(c). What has to be shown is whether, and if so, how, assessee can be said to have sought to evade tax. ABCAUS Case Law CitationABCAUS 3433 (2021) (01) ITAT Important case law …
IBBI prescribes Retention period of records by Insolvency Professional relating to Corporate Insolvency Resolution Process Retention period of records of CIRP Insolvency and Bankruptcy Board of India 7thFloor, Mayur Bhawan, Connaught Place, New Delhi-110001 CIRCULAR No.: IBBI/CIRP/38/2021 6th January, 2021 ToAll Registered Insolvency ProfessionalsAll …
SEBI issues timeline for refund of security deposit on surrender of membership by Trading Members SECURITIES AND EXCHANGE BOARD OF INDIA SEBI/HO/MIRSD/FCR/CIR/P/2021/01 January 06, 2021 To,The Managing Director/Executive Director, All Stock Exchanges Dear Madam/Sir, Subject: Refund of security deposit 1.This is with reference …
CBIC introduces flagship Liberalised Authorised Economic Operator Package for MSMEs Recognising their critical contribution in supporting the economy especially during the present difficult times of COVID-19 pandemic, Central Board of Indirect Taxes & Customs (CBIC) has taken a new initiative to introduce its flagship “Liberalised MSME AEO Package” …
CJM West Tripura designated as Special Court of trial of offences under Income Tax Act MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)(INVESTIGATION DIVISION-V) Notification No. 1/2021 New Delhi, the 6th January, 2021 S.O.58(E).—In exercise of the powers conferred by sub-section (1) of section 280A of the …
Invoice Furnishing Facility (IFF) for Taxpayers under QRMP Scheme 1. An Invoice Furnishing Facility (IFF) facility has been provided to taxpayers under QRMP Scheme (Quarterly filers of Form GSTR-1 and also of Form GSTR-3B returns), as per sub-rule (2) of Rule-59 of the CGST Rules, 2017. Taxpayers who …
ICAI has issued a clarification on Statutory Auditor of a Company giving feedback to Credit Rating Agencies about Auditee Client CAs as Statutory auditor can not share client information with credit rating agencies without permission The Institute stated that it has been receiving queries from the members as …
Customs Authority for Advance Rulings Regulations 2021 notified Customs Authority for Advance Rulings Regulations 2021 CBIC has notified Customs Authority for Advance Rulings Regulations, 2021. The notification has been issued in exercise of the powers conferred by section 157 read with sub-section (1) of section 28H, sub-section (1) …
RBI constructs a Composite Digital Payments Index (DPI) to capture extent of digitisation The Reserve Bank of India has constructed a composite Digital Payments Index (DPI) to capture the extent of digitisation of payments across the country. Earlier, it was announced in the Statement on Developmental and Regulatory Policies as …
FORM GSTR-1 furnishing and invoice facility banned, if GSTR-3B not filed – CGST Notification MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 01/2021–Central Tax New Delhi, the 1st January, 2021 G.S.R. 2(E).—In exercise of the powers conferred by section …
