Levy and Collection of Social Welfare Surcharge (SWS) on imports under various schemes such as MEIS, SEIS etc. Circular No. 02/2020-Customs F.No.605/06/2019-DBKGovernment of IndiaMinistry of Finance , Department of Revenue Central Board of Indirect Taxes and Customs (Drawback Division) 4th Floor , Jeevan Deep Building ,Parliament Street, New …
RBI permits Video based Customer Identification Process (V-CIP) – List of documents required Government has notified amendment to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. Accordingly, the Reserve Bank has permitted Video based Customer Identification Process (V-CIP) as a consent based alternate method of establishing the …
CBDT grants relaxation in eligibility conditions for filing of Income-tax Return Form-1 (Sahaj) and Form-4 (Sugam) for Assessment Year 2020-21 Ministry of Finance Press Release In order to ensure that the e-filing utility for filing of return for assessment year (A.Y) 2020-21 is available as on 1st April, …
Under mercantile system of accounting interest payable is equal to paid. ITAT deleted disallowance on the ground that interest was not paid during the year ABCAUS Case Law Citation:ABCAUS 3218 (2019) (01) ITAT Important case law relied upon by the parties:Taparia Tools Ltd. vs. JCIT Nasik In the …
Genuine expenses wrongly claimed as deduction not attract penalty u/s 271(1)(c) for furnishing the inaccurate particular of income ABCAUS Case Law Citation:ABCAUS 3217 (2019) (01) ITAT Important case law relied upon by the parties:CIT V/s Zoom Communications Limited 327ITR 510CIT Vs. Reliance Petro Products Ltd reported in 322 …
No Penalty u/s 271B where assessee under bona-fide belief failed to get accounts audited u/s 44AB despite turnover exceeding threshold for sale/purchase of shares ABCAUS Case Law Citation:ABCAUS 3216 (2020) (01) ITAT In the instant case, the appeal had been filed at the instance of the Assessee against …
