"17 July 2019" Archive - Page 2

No Capital Gain Tax on Sale of accrued FSI/TDR rights to developers

ITO Vs Mr. Deepak Talakshi Shah (ITAT Mumbai)

ITO Vs Mr. Deepak Talakshi Shah (ITAT Mumbai) Hon’ble Bombay High Court in the case of CIT vs. Sambhaji Nagar Co-op. Hsg. Society Ltd.  has held that in case of sale of FSI/TDR rights by the assessee to the developers which have accrued in favour of the assessee following promulgation of Development Control Rules for […]...

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MCA notifies Court at Pune U/s. 435(1)

Notification No. S.O. 2564(E) 17/07/2019

Notification of Special Court (Court of District Judge-1 and Additional Sessions Judge) at Pune (Maharashtra) under sub-section (1) of Section 435 of the Companies Act, 2013 MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 17th July, 2019 S.O. 2564(E).—In exercise of the powers conferred by sub-section (1) of section 435 of th...

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CBDT notifies Revised India -China DTAA Protocol

Notification No. 54/2019-Income Tax [S.O. 2562(E)] 17/07/2019

Protocol amending the Agreement between the Government of the Republic of India and the Government of the People’s Republic of China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and the Protocol thereto Signed at New Delhi on 18th July, 1994. MINISTRY OF FINANCE (Department [&...

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Changes in disclosure norms of divergence in asset classification & provisioning by banks

Circular No. CIR/CFD/CMD1/79/2019 17/07/2019

Vide Circular No. SEBI/CIR/CFD/CMD/80/2017 dated July 18, 2017, it was specified that banks which have listed specified securities shall disclose to the stock exchanges, divergences in the asset classification and provisioning wherever the additional provisioning requirements assessed by RBI/ the additional Gross NPAs identified by RBI ex...

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Section 194A: TDS on interest other than interest on securities

Section 194A of the Income Tax Act deals with the provisions relating to deduction of TDS on interest (other than interest on securities). Interest like interest paid on an unsecured loan, interest paid by banks on fixed deposits, interest paid on loans and advances, etc. are covered under the provisions of section 194A. The present arti...

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Posted Under: Income Tax | ,

Committee to examine Data Structure & Modalities of upload of data for E-Assessment

F.No. ADG(S)-5/Misc./2019-205789-5790 17/07/2019

A Committee to examine the feasibility of laying out the modalities, formats and data structures for uploading online, analysing and archiving of information sought during e-assessment in a forensically sound secure and importable data-structure to facilitate e-assessmcnt and to mitigate difficulties of both the taxpayers and Assessing Of...

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DGFT allocates additional 1239 MTRV for sugar export to USA under TRQ

Public Notice No. 19/2015-2020-DGFT 17/07/2019

Additional quantity of 1239 MTs (One Thousand Two Hundred Thirty Nine Metric Ton Raw Value) of raw cane sugar to be exported to USA under TRQ upto 30.09.2019 has been notified. Government of India Ministry of Commerce & Industry Department of Commerce Udyog Bhawan Public Notice No. 19/2015-2020-DGFT New Delhi, the 17 July, 2019 Subjec...

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Del Credere agent under GST

There was various presentation received from the industry by GST Board, regarding the scope and ambit of the principal agent relationship in line with del-credere agent. In order to clarify the same the board has came up with various circulars. Definition of Del Credere Agent: Del-Credere agent is no where defined under GST law. So, [&hel...

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Posted Under: Income Tax |

IP not responsible for appointment as IRP in CIRP if he conveyed of expiry of his registration

F. No. IBBI/IP/MON/2018/26 17/07/2019

It, therefore, appears that despite making it clear that he did not have a valid registration as an IP, he was made to serve as the IRP in the CIRP. In such circumstances, it is difficult to hold Mr. Mallik liable for contravention of section 206 of the Code. In view of this, I dispose of the notice without any direction....

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Merger of Council for Trade Development and Promotion into BoT

Notification No. 11/2015-20-DGFT [S.O. 1798(E)] 17/07/2019

It has been decided to merge the Council for Trade Development and Promotion (CTDP) with the Board of Trade (BOT) and the new forum will remain as Board of Trade (BOT) Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 11/2015-20-DGFT New Delhi, the 17 July...

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