CBDT notifies Form 12BBA as declaration by senior citizens of the age of 75 years or more for claiming exemption from filing return of income u/s 194P Finance Act 2021 has inserted a new section 194P in the Income Tax Act 1961 to provide Relaxation for certain category …

Alignment of interest of Asset Management Companies (‘AMCs’) with the Unitholders of the Mutual Fund Schemes Securities and Exchange Board of India (Mutual Funds) (Second Amendment) Regulations, 2021 (‘MF Amendment Regulations’) was notified on August 05, 2021  and the provisions of the said Regulations will come into force …

Amendment pursuant to comprehensive review of Investor Grievance Redressal Mechanism of SEBI SEBI had issued a Circular SEBI/HO/DMS/CIR/P/2017/15 dated February 23, 2017 on Amendment pursuant to comprehensive review of Investor Grievance Redressal Mechanism. Pursuant to representation received from the stock exchanges, few amendments have been made in the …

Addition for handling loss in petrol pump allowed as it was within permissible limit of 0.75% prescribed by Essential Commodities Act ABCAUS Case Law CitationABCAUS 3548 (2021) (09) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition made …

Application for Registration u/s 12A can not be rejected for mere not filing of income-tax return In the instant case, the assessee had challenged the order passed by the Commissioner of Income-tax (Exemption) under section 12AA (1) (b) (ii) of the Income Tax Act, 1961 (the Act) rejecting …

Institute of Chartered Accountants of India (ICAI) has notified the schedules / dates relating to the 2021 elections of members to its 25th Central Council and Regional Council. Nominations of candidates who desire to stand for election to its Twenty Fifth Council, to be held in December, 2021 …