"19 March 2020" Archive

Which Life Insurance Policy Should You Take When You Turn 30

Introduction Which is the best insurance policy in order to take maximum benefits before you turn 30 years Which Life Insurance Policy Should You Take When You Turn 30: When you are in your 30s, it can be a great time to buy life insurance. You’re at an age where, if you’re in good health, […]...

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Posted Under: Finance |

Income tax Authority before whom particulars of parent entity and alternate reporting entity to file CbC Report

Income Tax Department designates Income tax Authority before whom particulars of parent entity and alternate reporting entity to file Country-by-Country Report would be notified...

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Posted Under: Finance |

Amendment in Export Policy of Masks, Ventilators and textile raw material for masks and coveralls

Notification No. 52/2015-2020-DGFT (19/03/2020)

The export of all ventilators, Surgical/Disposable (2/3Ply) Masks only and Textile raw material for masks and coveralls only falling under the ITCHS Codes specified against each has been prohibited, with immediate effect....

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Maharashtra CM requests FM to extend Income Tax / GST Due Dates

As per twitter Handle of CMNO Maharashtra, Hon’ble CM Uddhav Balasaheb Thackeray has spoken to Hon’ble FM Smt Nirmala Sitharaman to consider the postponement for the following: 1. 31/3/2020 last date to file belated return for financial year 18-19. 2. 31/3/2020 last date to file revised return for financial year 18-19. 3. 31/3/2020 la...

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Posted Under: Finance |

Direct Tax Vivad se Vishwas Scheme – CBDT enables Online Form submission

Pursuant to the enactment of the Direct Tax Vivad se Vishwas Act, 2020 (VSVS) on 17.3.2020, the Direct Tax Vivad se Vishwas Rules, 2020 along with Forms-1 to 5 have been notified on 18.3.2020 vide notification No.18 of 2020. The Forms are required to be filed by the declarant electronically only. No paper form shall […]...

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Posted Under: Finance |

CCI guidance note on Pre-Filing Consultation through video-conferencing

Pre-Filing Consultation through video-conferencing The Competition Commission of India (CCI) allows for pre-filing consultation (PFC) to Parties seeking informal guidance interalia on (i) determining filing related requirement (s) (ii) information to be given in the notice to be filed for a proposed combination (iii) Green Channel. In o...

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Posted Under: Finance |

SEBI Relaxes certain Listing Regulation due dates- CoVID-19 virus

Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/38 (19/03/2020)

Relaxation from compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 due to the CoVID -19 virus pandemic...

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Securities Contracts (Regulation) (Amendment) Rules, 2020

Notification No. G.S.R. 189(E) (19/03/2020)

(1) These rules may be called as Securities Contracts (Regulation) (Amendment) Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....

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Revocation of cancellation of GST registration – big relief to taxpayers

1. GST Council vide Point 1(b) of press release dated 14 March 2020 has Indicated that where registrations have been cancelled till 14.03.2020, application for revocation of cancellation of registration can be filled up to 30.06.2020 (extension of the period of application as a one-time measure to facilitate those who want to conduct busi...

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Posted Under: Finance |

Audit Check Points to Review Gate Control over Inward Movement of Inventory in a Manufacturing Unit

Inventory is one of the important area for any business where chances of fraud are more as it’s a department where thefts and damages occur. Having strong controls, proper processes, checklist and regular stock audit is essential for this function. In this article we would learn the basic check points which needs to be checked […...

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Posted Under: Finance |

Deduction of provision for gratuity was allowable from book profits

KMF Infotech Ltd Vs DCIT (ITAT Bangalore)

Provision for Gratuity was an ascertained liability eligible to be deducted from the net profit for the purpose of computing book profit u/s 115JB of the Income Tax Act....

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Income from security deposit was taxable in the year of termination of dealership agreement

ACIT Vs Jojo Frozen Foods Private Limited (ITAT Cochin)

Amount paid as security deposit was taxable only on the year of termination of an agreement between the assessee and the dealer/distributor. Hence AO was not justified in treating the deposit as income each year irrespective of whether the dealership was terminated or not....

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Preventive Measure to contain spread of COVID 19-Do’s & Don’ts

Notification No. F. No. C-50/ 30/2020-Ad.II (19/03/2020)

In order to contain the spread of Novel Coronavirus (COVID-19), some precautionary measures are required to be taken by all the employees and the Ministries/Departments. In this regard, it has been decided to issue the following advisory for the well-being of Government employees and in public interest....

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Section 271AAB penalty cannot be levied based on defective notice

Ashok Bhatia Vs DCIT (ITAT Indore)

Penalty under section 271AAB levied on the basis of defective notice could not be sustained as  there was no mention about various conditions provided u/s 271 AAB as it was incumbent upon AO to mention in notice issued under section 274 read with section 271AAB as to under which clause of section 271AAB penalty was leviable and that too,...

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Son’s share in HUF will become property of son’s HUF & father’s share will come to son in his individual capacity

Adhiraj Pranay Shodhan HUF Vs ITO (ITAT Ahmedabad)

The assessee before us is a HUF. During the relevant previous year, the assessee sold three properties. In the income tax return filed by the assessee, however, only the capital gains on sale of 1/2 of these properties were shown. When the Assessing Officer probed this apparent discrepancy, it was explained that these properties were purc...

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Bogus Purchase- Addition should be on the basis of GP of assessee

Dharmendra N. Zaveri Vs ACIT (ITAT Mumbai)

Hon’ble Court has held that the addition has to be made on the basis of GP of the assessee. Accordingly, ITAT set aside the order of CIT(A) and direct the AO to apply a rate of 3% on the bogus purchases....

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Profit from mere sale & purchase of cargo space is not taxable as Business Support Service

Nilja Shipping Pvt. Ltd. Vs Commissioner of Central Excise (CESTAT Chennai)

The facts of the case are that appellants are engaged in the business as freight forwarders and provide worldwide containerised and conventional cargo transportation and logistics services. During audit of accounts, it was noticed that besides collecting various charges, such as documentation charges, examination charges, freight charges,...

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Interest against House Rent from Children used Jointly allowable

Md. Hussain Habib Pathan Vs ACIT (ITAT Mumbai)

We say so as it may well, in view of the joint residence, be that no area (portion) is specified in the rent agreements. The number of family members living jointly; their living requirements – which may not be uniform; fair rental value of the property, etc., are some of the parameters which could be considered for the purpose. The AO ...

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Penalty not levaible on addition made solely based on declaration

Jethanand Khemchand Luhana Vs DCIT (ITAT Ahmedabad)

When no money, bullion, jewellery or book entry was found at the time of search, and only evidence against the assessee is an admission of additional income made in the statement under section 132(4), whether such admission tantamount to disclosure of money, bullion, jewellery or diary and income disclosed is to be considered as concealed...

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Separate notice not required for personal hearing post section 110(2) amendment

Shreyansh Marble Tiles Pvt Ltd. Vs Commissioner of Customs (CESTAT Ahmedabad)

After amendment of section 110(2) it was concluded that no separate notice was necessary, before extending the period of limitation by a further six months (for issuance of show cause notice); the authority had to record reasons in writing, which of course, should be based on materials and inform the concerned party about the extension be...

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25 Point Year end closure Guide for Accountants & Management

Last month of the financial year 2019-20 is about to end and this calls for certain checkpoints that each business shall ensure before they close the financial year. Our team of experts have listed below points to ensure accountants and management are on top of the year end checklist and the same have been listed […]...

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Posted Under: Finance |

Penalty justified for evading customs duty by wrongly availing benefits

Bird Retail Pvt. Ltd. Vs Commissioner of Customs (Import) (CESTAT Delhi)

Adjudicating Authority was right in in imposing a penalty under the provision of Section 114A and Section 114AA of the Customs Act, 1962 as  both the appellants were fully aware that M/s B Pvt. Ltd. was importing complete Segway electrically operated product in CKD condition by mis-declaring the same as CKD parts of components such as P...

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Rent received as per option agreement is taxable as other income

Redwood IT Services P. Ltd. Vs ITO (ITAT Mumbai)

The issue under consideration is that whether the rent received as per the option agreement is chargeable to tax under the head ' Income from house property' or under the head ' Income from Other sources'?...

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GST on Employees/ Recoveries From Employees with Advance Rulings

Article made an attempt to Clarity – GST Impact On Employees/ Recoveries From Employees With Advance Rulings. Employee related transactions are bifurcated in two parts – (i) Services provided by employer to employee and (ii) Services provided by employee to employer. Sr. No. Particulars Legal Provisions and Taxability 1. SERVICES ...

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Posted Under: Finance |

Unanswered FAQs on Direct Tax Vivad se Vivadh Act 2020- Part I

In this Article, the Authors briefly deliberated on the issues arising out of FAQs answered by the Board and also fresh questions that need to be answered soon for the tax payers and the administrators to be clear in their approach.  The Act is referred to as VsV Act or the Act and the Designated […]...

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Posted Under: Finance |

Export Performance by India

The Honble Minister of Commerce and Industry Mr. Piyush Goyal in his Lok Sabha Speech on Tuesday has given a written reply on the Export performance by India. In his statement he has mentioned that India’s merchandise exports has increased from 303.53 US $ billion in 2017-18 to 330.07 US $ billion in 2018-19, registering […]...

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Posted Under: Finance |

Electronic mode of Assessments – Needs Improvement

Government’s initiative to start contactless assessment of income tax with the help of electronic assessment is laudable but it still needs proper training of the manpower and to establish a well-defined and well-designed system with adequate timelines for flawless assessments in the best interests of the state and the assessees in orde...

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Posted Under: Finance |

New TCS Provisions on Sale of Goods w.e.f. 01.04.2020

Tax Collected at Source (TCS ) is the tax payable by the seller which he collects from the buyer at the time of sale , say, while purchasing a motor vehicle exceeding Rs 10 Lakhs . Budget 2020 has proposed to widen the scope by including TCS on Sale of Goods w.e.f. 01/04/2020—Sec 206(1H) . […]...

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Posted Under: Finance |

How can trade agreements lower import / export prices?

It is an undeniable fact that to outgrow in this international market it is very important for any business to offer their products/services at the most competitive prices. Any business has to strike a perfect balance -in keeping profit margins intact and at the same time offering products/services at the most competitive rates. Isn’t i...

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Posted Under: Finance |

Vivad se Vishwas Scheme – Practical Aspects

Latest Analysis The Vivad se Vishwas scheme was presented in the Budget 2020 on 1st February 2020. Due to administrative and procedural delays, the President gave assent to the Scheme on 17th March 2020. The Scheme is applicable to all income tax cases in dispute as on 31st January 2020. The pending appeal may be […]...

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Posted Under: Finance |

RBI Compliance for NBFC’s

NBFCs are required to submit various returns to RBI w.r.t their deposit acceptance, prudential norms compliance, ALM etc. Detailed instructions regarding submission of returns by NBFCs have been issued through various company circulars. A list of such returns to be submitted by NBFCs-D, NBFCs-ND-SI and others is as under LIABILITY a) ACCE...

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Posted Under: Finance |

Relaxation to Employers who did not file ESI contribution within 42 days

One-time Relaxation to those Employers who did not file ESI contribution within 42 days Keeping in view the problem being faced by the Employers in filing ESI contribution for the contribution period April, 2019 to September, 2019 within 42 days, the Director General, in exercise of powers vested under regulation 100, has relaxed the prov...

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Posted Under: Finance |

Section 206C(1H) TCS on Sale of Goods more than specified limit

कोई भी व्यक्ति जो विक्रेता है यदि किसी अन्य व्यक्ति (क्रेता) से प्रतिफल के रूप में कोई राशी प्राप्त करता है और यदि किसी भी वित्तीय व...

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Posted Under: Finance |

Gross Interest vs Net Interest under GST

Many of the registered persons are receiving notices to pay interest on GROSS liability for delay in filing of GSTR 3B returns in case of failure to pay so the department may initiate recovery proceedings under sec 79, because of which there is as huge confusion among the registered tax payers regarding calculation of interest....

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Posted Under: Finance |

Importance of 31st March 2020 in our lives!

In India, the Financial Year (F.Y.) runs from 1st April to 31st March. We have to perform certain important tasks before the end of the F.Y. to plan our present and future. Although we have a full year to complete these tasks in advance but we Indians are adventure loving people and we wait for the […]...

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Posted Under: Finance |

Direct Tax Vivad se Vishwas Scheme- Request for 3 months extension

The Direct Tax Vivad se Vishwas Act, 2020 - Request for three months extension without any extra charge of disputed tax, Interest or Penalty....

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Posted Under: Finance |

Is 20% deduction of interest on Net taxable dividend?

As highlighted in Budget 2020, it proposes to allow deduction of interest expenses to the extent of 20% of dividend income. Author in this article is focusing on significant aspect which is whether 20% deduction is on net taxable dividend (after deduction u/s 80M) or on gross dividend income. Proposal for sec 57 in Finance […]...

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Posted Under: Finance |

Is taxing dividend costlier for foreign dividend after Budget 2020?

Is taxing dividend costlier for foreign dividend ? Recently Budget 2020 has proposed to tax dividend income in the hand of shareholders and have given the benefit u/s 80M to avoid cascading effect. (Cascading effect is when tax is levied on a same income at every step i.e dividend transferred from Co A to Co […]...

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Posted Under: Finance |

CBIC notifies Rate of Exchange of Foreign Currencies wef 20.03.2020

Notification No. 27/2020-Customs (N.T.) (19/03/2020)

Exchange Rates Notification No. 27/2020-Custom (NT) dated 13.03.2020 Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 20th March, 2020. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 27/2020 – Customs (N.T.) New Delhi, dated...

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Benefit of tax reduction to the customers should be passed only by way of Rate Reduction: NAA

Sh. Rahul Sharma Vs Reckitt Benckiser India Pvt. Ltd. (National Anti-Profiteering Authority)

Sh. Rahul Sharma Vs Reckitt Benckiser India Pvt. Ltd. (National Anti-Profiteering Authority) The Respondent has further contended that there was no stipulation in Section 171 which required that the benefit of rate reduction should be passed on to the customers by ‘commensurate reduction’ only in cash and methods like increase...

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15 Important points for taxpayers to do before 31st March 2020

The taxpayers have to take care to follow all the Tax laws at year end and has to maintain his books of accounts. Tax planning in advance will be more beneficial; if it is delayed then taxpayer may get trapped. For a taxpayer, the March 31 deadline remains same as all tax related tasks need to be completed by then. Let’s learn about som...

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Posted Under: Finance |

GST on Pouch Filling Machine used in milk dairy

In re Magnam Netlink Private Limited (GST AAR Gujarat)

In re Magnam Netlink Private Limited (GST AAR Gujarat) Agricultural Produce shall not include further processed produce other than such processing is done by a cultivator or producer which does not alter its essential characteristics. Therefore the milk on which processes have been carried out by other than a cultivator or a producer shal...

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Constitution of a Committee on Corporate Governance Guidelines for Insurers in India

Ref: IRDA/F&A/ORD/CG/069/03/20 (19/03/2020)

IRDAI had issued the Corporate Governance Guidelines for Insurance Companies in India in the year 2016. The participation of the Authority in peer review process of IAIS on ICPs more particularly on ICP 5 - Suitability of Person, ICP 7 - Corporate Governance and ICP 8 - Risk Management and Internal Controls indicated that there is need to...

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Modalities for import of 4 Lakh MT Urad for fiscal year 2020-2021

Trade Notice No. 57/2019-20-DGFT (19/03/2020)

. It may kindly be noted that annual quota of Urad for the year 2020­-21 is 4 Lakh MT and will be effective from 1st May, 2020 to 31st March 2021. Accordingly, successful applicants will have to ensure that the import consignments of Urad reaches the Indian ports on or before 31.03.2021. Request for extension of time will not be entertai...

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Govt notifies Annual Import quota of Urad for the year 2020-21

Trade Notice No. 56/2019-20-DGFT (19/03/2020)

Annual quota of Urad for the year 2020-21 is 4 Lakh MT and will be effective from 1st May, 2020 to 31st March, 2021. Copy of the said Notifications is attached herewith for ready reference....

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Road Development, Highway, NHAI, HAM, DBFOT, Risk

Build Operate and Transfer (BOT) Annuity Model: Under BOT annuity, a developer builds a highway, operates it for a specified duration and transfers it back to the government. The government starts payment to the developer after the launch of commercial operation of the project. Payment will be made on a six-month basis. Engineering, Procu...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-Czechoslovak Socialist Republic tax treaty

CBDT has released the synthesised text for India-Slovak Republic tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. SLOVAK REPUBLIC AGREEMENT FOR AVOIDANCE OF DOUBLE TAXATION AND PREVENTION OF FISCAL EVASION WITH – SLOVAK REPUBLIC Whereas a Agreement between the Government of th...

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Posted Under: Finance |

How safe are your Deposits in any Bank: YES Bank Case

The recent fall of PMC Bank and the mighty YES Bank has sent shivers across the spine of many Deposit Holders of the bank. The depositors have started staring at their deposits in the entire banking system with suspicion. They are facing the prospects of BAIL-IN  which,  in extreme conditions can wipe out their money lying in the Banks....

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-Poland tax treaty

CBDT has released the synthesised text for India-Poland tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. SYNTHESISED TEXT OF THE MLI AND THE CONVENTION BETWEEN THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND AND THE REPUBLIC OF POLAND FOR THE AVOIDANCE OF DOUBLE TAXATION AND ...

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Posted Under: Finance |

Highlights of the 39th GST Council Meeting

1. Deferment of the new GST return system and e-invoicing to 1st October 2020. The present return system (GSTR-1, GSTR-2A & GSTR-3B) will be continued until September 2020. 2. Changes in the GST rates GST on mobile phones and specified parts was increased from 12% to 18%. All types of matches have been rationalised to […]...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-Australia tax treaty

CBDT has released the synthesised text for India-Australia tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. AUSTRALIA SYNTHESISED TEXT  OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAXT REATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING (MLI) AND THE AGREEMENT BETWEEN ...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-Singapore tax treaty

CBDT has released the synthesised text for India-Singapore tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING (MLI) AND THE AGREEMENT BETWEEN THE GOVERNME...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-Austria tax treaty

CBDT has released the synthesised text for India-Austria tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. AUSTRIA SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING (MLI) AND THE CONVENTION BETWEEN THE G...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-UK tax treaty

CBDT has released the synthesised text for India-UK tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. UK SYNTHESISED TEXT OF THE MLI AND THE CONVENTION BETWEEN THE GOVERNMENT OF THE REPUBLIC OF INDIA AND GOVERNMENT OF THE UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND FOR THE [&h...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-Latvia tax treaty

CBDT has released the synthesised text for India-Latvia tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. LATVIA SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING (MLI) AND THE AGREEMENT BETWEEN THE GOV...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India-Belgium tax treaty

CBDT has released the synthesised text for India-Belgium tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING (MLI) AND THE AGREEMENT BETWEEN THE GOVERNMENT...

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Posted Under: Finance |

Induslnd Bank statement on irresponsible rumours and speculation

In wake of the significantly higher level of market rumours and speculation around Induslnd Bank stock, we would like to reiterate that the Bank is financially strong, well-capitalized, profitable, and a growing entity with strong governance....

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Posted Under: Finance |

SOP to be followed by exporters- GST Refund

Trade Circular No. 05T of 2020 (19/03/2020)

As you are aware, several cases of monetization of credit fraudulently obtained or ineligible credit through refund of Integrated Goods & Service Tax (IGST) on exports of goods have been detected in past few months. On verification, several such exporters were found to be non-existent in a number of cases. In all these cases it has been f...

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No Late Fees on PT Return for periods up to March 2019 in Maharashtra

Trade Circular No. 04T of 2020 (19/03/2020)

Office of Commissioner of Profession Tax. Maharashtra State. 8th Floor. GST Bhavan, Mazgaon, Mumbai – 400010. TRADE CIRCULAR No: ACST/VAT-3/PT/Late-fee-waiver/_/2020/B-196, Mumbai. Dt: 19/03/2020 Trade Circular No. 04T of 2020 Sub: Exemption from payment of Late Fees u/s 6(3) of the Maharashtra State Tax on Professions, Trades, Cal...

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Procedure for declaration & undertaking under Vivad se Vishwas Rules

Notification No. 12 of 2020-DGIT(S) (19/03/2020)

DGIT(S)-ADG(S)-3/e-Filing Notification/FoR1/VSVS/2020/ Government of India Ministry of Finance Central Board of Direct Tax Directorate of Income Tax (Systems), New Delhi Notification No. 12 of 2020 New Delhi, the 19th March, 2020 Subject- Procedure for making declaration in Form-1 under sub-rule (1) of Rule 3 and furnishing undertaking i...

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Companies (Meetings of Board and its Powers) Amendment Rules, 2020

Notification No. G.S.R. 186 (E). (19/03/2020)

Companies (Meetings of Board and its Powers) Amendment Rules, 2020- Reg: Board meetings under the Companies Act, 2013: Considering the need to take precautionary steps to overcome the outbreak of the coronavirus (Covid-19), the Government has in-principle decided to relax the requirement of holding Board meetings with physical presence of...

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Finance Minister reaches out to CAs for promoting Vivad se Vishwas scheme

The 'Vivad se Vishwas' Scheme aims at dispute resolution in order to reduce pending litigation, generate revenue for the Government and benefit taxpayers. Over the years, the pendency of appeals filed by taxpayers as well as Government has increased due to the fact that the number of appeals that are filed is much higher than the number o...

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Posted Under: Finance |

COVID-19 – Kerala HC stays All Revenue Recovery proceedings

P.D. Sunny Vs Shiram Housing Finance Ltd. (Kerala High Court)

Present scenario of outburst of deadly corona virus is very precarious and sensitive, as the lawyers and the st«ff rendering assistance to this Court and the judges ore vulnerable, thus in order to prevent such rampant of spread by taking preventive measures, I deem it appropriate to issue general directions to the departments concerned ...

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CBDT releases MLI synthesised text for India-Georgia tax treaties

CBDT has released the synthesised text for India-Georgia tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING (MLI) AND THE AGREEMENT BETWEEN THE GOVERNMENT...

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Posted Under: Finance |

CBDT releases MLI synthesised text for India- Malta tax treaties

CBDT has released the synthesised text for India-Malta tax treaty. It represents their shared understanding of the modifications made to the Agreement by MLI. SYNTHESISED TEXT OF THE MULTILATERAL CONVENTION TO IMPLEMENT TAX TREATY RELATED MEASURES TO PREVENT BASE EROSION AND PROFIT SHIFTING (MLI) AND THE AGREEMENT BETWEEN THE GOVERNMENT O...

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CBDT releases MLI synthesised text for India-Luxembourg tax treaty

MLI synthesised text for India-Luxembourg tax treaty-This document was prepared jointly by the Competent Authorities of India and Luxembourg and represents their shared understanding of the modifications made to the Agreement by the MLI....

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Posted Under: Finance |

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