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Even a single transaction may constitute business as defined in section 2(13) of the Income Tax Act ABCAUS Case Law CitationABCAUS 3435 (2021) (01) ITAT Important case law relied upon by the parties:ITO vs. Amrit Foods (P) Ltd. (1984) 10 ITD 681 In the instant case, the assessee …
Gujarat High Court directs CBDT to decide on further due date extension by 12.01.2021. Writ Petition was filed by All Gujarat Federation of Tax Consultants Breaking: CBDT denies any further extension in due dates for filing ITRs/Audit Reports. Order u/s 119 in pursuance of Gujarat HC direction Read …
Aadhaar OTP based EVC of ITRs-Maximum 5 OTP requests for a single Aadhaar can be made within a span of 30 minutes. Aadhar based OTP is one of the Electronic Verification options of verifying submission of the Income Tax Returns (ITRs). Other options for generating Electronic Verification Code …
Empanelment for Chartered Accountant or Cost Accountant for Special audit of Central Excise, Service Tax and GST Assessees. Provisions of erstwhile section 14AA of the Central Excise Act, 1944, Section 72 of the Finance Act, 1994 and current Section 66 of the Central Goods and Service Tax Act, …
Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2021 SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th, January, 2021 SECURITIES AND EXCHANGE BOARD OF INDIA (ALTERNATIVE INVESTMENT FUNDS) (AMENDMENT) REGULATIONS, 2021 No. SEBI/LAD-NRO/GN/2021/01.─In exercise of the powers conferred by sub-section …
Aadhaar Authentication / e-KYC for Existing Taxpayers on GST Portal 1. Functionality for Aadhaar Authentication and e-KYC where Aadhaar is not available, has been deployed on GST Common Portal w.e.f. 6th January, 2021, for existing taxpayers. All taxpayers registered as Regular Taxpayers (including Casual Taxable person, SEZ Units/Developers), …
SEBI amends ICDR regulation for requirement of minimum promoters’ contribution SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th January, 2021 SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) (AMENDMENT) REGULATIONS, 2021 No. SEBI/LAD-NRO/GN/2021/03.—In exercise of the powers conferred under …
Listed entities to disclose details of approved resolution plan under Insolvency and Bankruptcy Code (IBC) 2016 – SEBI SECURITIES AND EXCHANGE BOARD OF INDIA NOTIFICATION Mumbai, the 8th January, 2021 SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) (AMENDMENT) REGULATIONS, 2021 No. …
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 …
