Under Income Tax 1. Last date for Income Tax returns for F.Y. 18-19 extended to 30th June, 2020 from 31st March 2020. 2. Aadhaar- PAN Linking date to be extended from 31st March 2020 to 30th June 2020. 3. Due dates for issue of notice, intimation, notification, approval order, sanction order, filing of appeal, furnishing […]
Investors normally trade in securities using their own funds. Sometimes, based on the market conditions in stock exchange, they wish to trade beyond their owned resources. This type of trading in the securities is supported by the borrowing facility for funds and securities, in the system.
Export of goods by a SEZ unit through merchant exporter – should be subjected to levy of GST? – An analysis Supply of goods or services by a SEZ unit in the GST regime and determining whether the transaction is subject to levy of GST is always a complicated and tricky issue, which needs thorough […]
Income Tax Circular No. 11 of 2020 Dated May 8, 2020 in Respect of Residential Status for Assessment Year (AY) 2020-21 Section 6 of the Income Tax Act deals with the Residential Status. An individual is said to be resident in India in any previous year, if he (a) is in India in previous year […]
Learn how to identify whether a contract contains a lease element as per Ind AS 116. Understand the conditions and criteria that need to be fulfilled.
Deferrement of Procedure for Approval/ Registration/Notifications of certain entities U/s 10(23C), 12AA, 35 & 80G of Income Tax Act, 1961 till 01st October,2020 The Finance Act, 2020 has introduced certain new compliance burdens on Charitable Trusts and Exempt Institutions. The Budget 2020 has amended certain provisions of the Income Tax Act, 1961 having a great […]
Private Security Agencies Regulation Act, 2005 (PSARA) regulates the Private Security Industry in India. This Act regulates functioning of the private security agencies through Controlling Authorities which are appointed by State Governments. The Ministry of Home Affairs administers this Act. Separate Rules are made by respective States under PSARA Act, 2005 which is in alignment […]
The corona virus , which was first detected in China, has infected people all around the world. Its spread has left effect on businesses around the world counting the costs. In this article we understand the corona effect on the world economy. 1. Globally Hit Share Market Shifts in stock markets, where shares in companies […]
The true principle of promissory estoppel is where one party (Promisor) has by his words or conduct made to the other a clear and unequivocal promise which is intended to create legal relations or a legal relationship would arise in the future, knowing or intending that it would be acted upon by the other party (Promise) to whom the promise is made and it is in fact so acted upon by the other party, the promise would be binding on the party making it and he would not be entitled to go back upon it.
As the lockdown has been further extended up to 17th May 2020, keeping in view the difficulty faced by some policyholders to renew the policies in time, the Authority has now allowed extended grace period up to 31st May 2020 for all policies where premium was due in the month of March 2020.
