Pr. Commissioner/Commissioner of Customs, Nhava Sheva-II, JNCH invested with power of Pr.Commissioner/Commissioner of Central Excise for adjudication in specific SCN vide Notification No. 03/2019-Central Excise (NT) dated 18th July, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 03/2019-Central Excise (NT) New Delhi, the 18th July,2019 G.S.R. 516(E).—In […]
Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 19th July, 2019 notified vide Notification No. 52/2019–Customs (N.T.) dated 18th July, 2019. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) ***** Notification No.52/2019 – Customs (N.T.) New Delhi, dated the 18th July, 2019 27 Ashadha, 1941 (SAKA) […]
The Court held that Plaintiff’s and the Defendant’s claim needs to be adjudicated comprehensively by the same forum. Till the defence is adjudicated, there is no threat to the assets of the Plaintiff and the continuation of the counter claim would not adversely impact its assets.
Section 80EEA Deduction for additional Interest of Rs.1.50 Lakh on Loan on Affordable House Property (not on Commercial). New section 80EEA is inserted by Budget 2019-20 presented by Finance Minister in Parliament on 5th July 2019. Condition for availing Section 80EEA deduction Loan Sanctioned between 1.4.2019 to 31.3.2020 from financial institution /HFC Stamp Duty Value […]
The input tax credit utilization rule has undergone a huge roller coaster ride since introduction of the Goods and Service Tax Law. Every registered taxpayer dealing with the GST would be much concerned about the input tax credit utilization rules since it directly affects its finance and working capital at a large. Stage-wise provisions dealing […]
Does it seem that the legal validity of certain major changes in ITR Schema is questionable? Attempt to analyse with reference to legal provisions. Recently there have been made very major changes regarding reporting of details of long term capital gain transactions in schemas of ITR-2 and ITR-3. And CBDT has issued clarification through press […]
Tax on Income distributed to shareholder (Buy Back Tax) As we are aware of the amendment brought by Finance Bill No. 02, 2019 that now Tax is to be levied on Buy Back of shares of Listed Company too. Before start, please be clear that any payment made by a company on purchase of its […]
Soon after the SBO Rules came into effect, stakeholders started facing numerous difficulties in complying with the SBO disclosure norms, which obligated the MCA to revise the reporting norms and representation were made to MCA to issue a new Form altogether.
On June 14, 2018, MCA issued the Companies (Beneficial Interest and Significant Beneficial Interest) Rules 2018 and enforced section 90 of the Act. On Feb 8, 2019, MCA has notified the revised rules on SBO. The sole objective of these rules is ‘to identify the ultimate beneficial individual or group of individuals who have control or ownership of the reporting company disregarding the intermediate shareholding by non-individual persons.’
All India Federation of Tax Practitioners has submitted a Memorandum to request for Extension of Date for filing Income Tax Return for assessment year 2019-20 considering hardship of taxpayers.
