ICAI reschedules CA Foundation Examination Paper-1 from 8th Dec to 13th December 2020 According to ICAI, due to unavoidable circumstances, the Chartered Accountants Foundation Examination, Paper –1, Principles and Practice of Accounting has been extended. The said CA exam was scheduled to be held on 8th December 2020, …

No provision exists for disallowance of expenditure in the interest of Revenue and to avoid the leakage of revenue – ITAT ABCAUS Case Law CitationABCAUS 3428 (2020) (12) In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition made by …

RBI forbids banks to make dividend payment for the financial year ended March 31 2020. In 2005, the Reserve Bank of India ( RBI ) reviewed the policy approach with regard to payment of dividends by bank  shifting the regulatory focus from the ‘quantum of dividend’ to the …

CBDT issues 34 new FAQs on Vivad se Vishwas Act. Read Circular no. 21 of 2020 CBDT 34 new FAQs on Vivad se Vishwas The Direct Tax Vivad se Vishwas Act, 2020 (Vivad se Vishwas Scheme) was enacted on 17th March, 2020. The provisions of Vivad se Vishwas …

CBDT Circular on deduction of Tax ( TDS ) on Salaries u/s 192 of the Income Tax Act, 1961 during FY 2020-21  CBDT has issued circular no. 20/2020 specifying guidelines for TDS on Salaries for the Financial Year 2019-20. CBDT Circular – TDS on Salaries during FY 2020-21  …

Limit increased for contactless Card transactions & processing of e-mandates for recurring transactions RBI in 2015 and 2019 relaxed Additional Factor of Authentication (AFA) for Card transactions in Contactless mode and processing e-mandates / standing instructions on cards and Prepaid Payment Instruments (PPIs) for recurring transactions with values …