"20 March 2020" Archive - Page 2

ITAT Mumbai to hear urgent matters through video conferencing via skype or WhatsApp

F.No.22-Ad(AT)/2019-20 20/03/2020

It has been decided that henceforth, and till further orders, the Income Tax Appellate Tribunal, Mumbai benches, will hear only extremely urgent matters, such as, for example, stay petitions in deserving cases, preferably through web-based video conferencing call such as skype or WhatsApp video group call...

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Draft CSR Policy Amendment Rules 2020-: Noteworthy points

Draft Companies (Corporate Social Responsibility Policy) Amendment Rules, 2020 In order to operationalize the Companies (Amendment) Act, 2019, the Companies (Corporate Social Responsibility Policy) Amendment Rules , 2020 has been drafted for carrying out amendments in the Companies (CSR Policy) Rules, 2014. Definitions amended/ newly inse...

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Posted Under: Income Tax |

Revenue not entitled to attach properties of Private Trust to recover dues of trustees

Rajesh T. Shah Vs Tax Recovery Officer (Bombay High Court)

Revenue is not entitled to attach the properties belonging to a Private Trust to recover dues of the trustees, who was a director of a company which had allegedly defaulted in paying its tax dues....

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Vivad se Vishwas Scheme 2020 for Minimizing Tax-related Litigation

BRIDGING THE  DISPUTE- TRUST DIVIDE for Minimizing Tax-related Litigation Avail this golden opportunity …Settle your Income Tax disputes Objectives of Vivad Se Vishwas Scheme 2020 > Reduce income tax pending litigation > Generate timely revenues for the Government > Help taxpayers end their tax disputes with the department...

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Posted Under: Income Tax |

Instruction to Fill Form 1 & 2 -Direct Tax Vivad Se Vishwas Scheme

CBDT has released Direct Tax Vivad Se Vishwas Rules 2020 vide Notification No. 18/2020-Income Tax Dated- 18/03/2020 and also released following forms- FORM-1- Form for filing declaration, Form-2 – Undertaking Under Sub-Section (5) Of Section 4 Of The Direct Tax Vivad Se Vishwas Act, 2020 (3 Of 2020), Form-3- Form For Certificate Un...

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Posted Under: Income Tax |

Handwritten Serial Number cannot be the reason for denial of ITC

Krupa Trading Company Vs C.C.E. & S.T. (CESTAT Ahmedabad)

Krupa Trading Company Vs C.C.E. & S.T. (CESTAT Ahmedabad) The short issue involved in the present case is that whether the denial of Cenvat Credit by the Adjudicating Authority for the reason that invoices of input service bear handwritten serial number is correct or otherwise. It is clear from the rules that the invoice should [&hell...

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COVID-19- Companies & LLPs to file web Form CAR

The web form named CAR. (Company Affirmation of Readiness towards COVID-19) should be filed by an authorized signatory of Companies & LLPs. CAR-2020 shall be deployed on the 23rd of March, 2020....

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Posted Under: Income Tax |

Availment of ineligible drawback & IGST: Search & seizure by DRI justified

Shri Vishnu Processors Vs Union of India and others (Punjab and Haryana High Court)

The issue under consideration is whether the Search and resultant seizure of documents and record by Director of Revenue Intelligence is justified under Customs Act, 1962?...

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Extend due dates of VAT assessments, Fill vacant posts: JCTBA

JHARKHAND COMMERCIAL TAXES BAR ASSOCIATION March 19, 2020 To, Hon’ble Finance Minister Government of Jharkhand Ranchi. Sub : Practical difficulties in day to day affairs Respected Sir, Our Association was formed in the year 1965 with the purpose of providing assistance and educate its Members practicing in Indirect taxes field. Time and...

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Posted Under: Income Tax |

Section 194O TDS by E-Commerce Operator

Section 194O TDS by E-Commerce Operator PROVISION When E-Commerce Operator provides its platform to E-Commerce participant for sale of goods or services or both then, E-Commerce operator must deduct 1% TDS at the time of credit of amount of sale of goods, service or both to the account of e commerce participant or at the […]...

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Posted Under: Income Tax |

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