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Archive: 24 March 2020

Posts in 24 March 2020

Both Houses of Parliament Adjourned after Budget Session 2020

March 24, 2020 1431 Views 0 comment Print

The Budget Session, 2020 of Parliament which commenced on Friday, 31st January, 2020 has been adjourned sine die today i.e. Monday, the 23rd of March 2020. In between both the Houses also adjourned for recess on Tuesday, the 11th February, 2020 to reassemble on Monday, the 2nd March, 2020 to enable Departmentally related Standing Committees to examine and report on the Demands for Grants relating to various Ministries/Departments.

FM relaxes Tax & Regulatory Compliance in view of COVID-19 outbreak

March 24, 2020 34716 Views 3 comments Print

Extend last date for income tax returns for (FY 18-19) to 30th June, 2020. Aadhaar-PAN linking date to be extended to 30th June, 2020.

States/UTs can Use Cess fund for Welfare of Construction Workers: Labour Ministry

March 24, 2020 756 Views 0 comment Print

In the backdrop of outbreak of COVID-19,numerous measures are being taken by the Government to give relief to workers.To support unorganized construction workers who sustain their livelihood on daily wages, an advisory  has been issued today by Shri Santosh Kumar Gangwar,

Transfer of intangible assets with right to carry on business is taxable as LTCG

March 24, 2020 7542 Views 0 comment Print

ACIT Vs Feroke Boards Ltd. (ITAT Cochin) The first issue to be decided is whether the assets transferred by the assessee to M/s.Masonite Holdings Private Limited is a “financial asset” coming within the Explanation 1(i)(e) to section 2(42A) of the I.T.Act. The term “financial asset” has been described in Explanation 1(i)(d) to section 2(42A) of […]

Govt prohibits export of all Sanitizers

March 24, 2020 1623 Views 0 comment Print

The export of all Sanitizers falling under any ITCHS Code, including the ITCHS Codes mentioned above, is prohibited, with immediate effect.

Facilitation of Clearance of Import Cargo due to delay caused by Covid-19

March 24, 2020 1293 Views 0 comment Print

Now keeping in view the situation arising due to outbreak of Corona Virus in the country, there is likelihood of late filing of bills of entry because of difficulty in getting the related documents or difficulty in reaching the facilities from where the filing can be done on ICEGATE.

Declarations of Finance Ministry Today At 2.30 Pm

March 24, 2020 11463 Views 1 comment Print

Finance minister declaration India today meeting at 2:30 p.m. 1. Vivad se Vishwas extended to 30th June 2. return filing for 18-19 financial year extended to 30th June interest on 3. TDS interest will be now from 18 % to 9% 4. Any date of IT was expiring at 31st March that has been extended […]

ICSI Request for relaxation in filing of ROC forms & compliances

March 24, 2020 2928 Views 0 comment Print

While fully appreciating the measures undertaken by the Ministry of Corporate Affairs allowing the Companies to hold their Board Meetings through audio visual means even for the restricted items till 30th June 2020, taking cognizance of the gravity of the public health situation, we request your good-self to kindly consider the relaxation of time period for filing of various forms including event based forms and the compliances as given below without levy of additional fees, the due dates of which fall on or around 31st March, 2020:

Exemption from IGST & compensation cess to EOUs on imports till 31.03.2021

March 24, 2020 3588 Views 0 comment Print

Amendment to Notification No.52/2003-Customs dated 31.03.2003 for extending exemption from IGST and compensation cess to EOUs on imports till 31.03.2021.  Notification No. 16/2020-Customs Dated 24th March, 2020 GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 16/2020-Customs New Delhi, the 24th March, 2020 G.S.R. 213 (E).— […]

CBIC notifies Rate of Exchange of Foreign Currencies wef 25.03.2020

March 24, 2020 675 Views 0 comment Print

Exchange Rates Notification No. 30/2020-Custom (NT) dated 24.03.2020 Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 25th March, 2020.

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