"15 July 2020" Archive

Income Tax software not allowing Full & proper interest

Problem in software issue in allowing Full and proper interest allowable u/s 244-A of Income TAx Act, 1961 while processing Income Tax returns for AY 2019-20...

Read More
Posted Under: Income Tax |

Amendments to Rates of Duty Drawback effective from 15.07.2020

Circular No. 33/2020-Customs 15/07/2020

Government made certain amendments in All Industry Rates (AIRs) of Duty Drawback vide Notification No. 56/2020-Customs (N.T.) dated 13.07.2020. These changes are effective from 15.07.2020....

Read More

Import Policy of Power tillers & its components amended

Notification No. 19/2015-2020-DGFT [S.O.2352(E)] 15/07/2020

DGFT vide Notification No. 19/2015-20 dated 15.07.2020 has amended Import Policy and Policy Conditions of Power tillers and its components. They are now under the ‘Restricted’ category. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Notification No. 19/2015-2020 New ...

Read More

Procedure for allocation of import authorization of Power tillers

Public Notice No. 13(2015-2020)-DGFT- F.No. 01/89/180/48/AM-13/PC-2[A]/E-5928. 15/07/2020

DGFT vide Public Notice No. 13/2015-2020 dated 15.07.2020 has prescribed the procedure for Import authorisations to implement the restriction imposed on Import of power tillers and its components Government of India Ministry Of Commerce and Industry Department of Commerce Directorate General of Foreign Trade Public Notice No. 13/(2015-202...

Read More

Tariff Notification No. 57/2020-Customs (N.T.), Dated: 15.07.2020

Notification No. 57/2020-Customs (N.T.) 15/07/2020

Tariff Notification No. 57/2020-Customs (N.T.), Dated: 15.07.2020 in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg. Government of India Ministry of Finance (Department of Revenue) (Central Board of Indirect Taxes and Customs) Notification No. 57/2020-CUSTOMS (N.T.) New Delhi,...

Read More

FAQs- Sanchit application For Import Export Users

Q: What is eSanchit application? The Central Board of Indirect Taxes & Customs (CBIC) has launched eSanchit (e-Storage and Computerized Handling of Indirect Tax documents) for paperless processing, uploading of supporting documents and to facilitate the trading across Borders. It has already been made available to importers and export...

Read More
Posted Under: Income Tax |

Why a senior citizen should invest in Senior Citizen Savings Scheme?

All retired senior citizens are finding it difficult to meet both their ends due to double whammy of constant inflation accompanied with reducing interest rates all around. The interest rates offered by banks on fixed deposits have come down to around 6%. Though the private banks and corporate offer higher rates they cannot risk their [&h...

Read More
Posted Under: Income Tax |

Relaxation in the time-limit in the deadline to file ITR

In its notification on July 13, the Income Tax Department has allowed one-time relaxation to the taxpayers for such one- time relaxation for the taxpayers under the verification of tax-returns that are pending due to non-filling of the Form ITR-V. The relaxations have been given those pending due to the non-filling of the form of ITR-V...

Read More
Posted Under: Income Tax |

Compulsory Licensing – Diluting the Rights of a Patentee

Grant of a patent implies a statutorily granted monopoly on the use of invention. Setting aside the concern that this invention should not be exploited at the cost of public interest. Once a patent is granted, the patentee is vested with the exclusive rights over his inventions for the period of 20 years....

Read More
Posted Under: Income Tax |

Detailed Analysis of ITR Forms Notified For A.Y. 2020-21

In January 2020 the CBDT has notified the amendment to Rule 12 and new ITR Forms (ITR 1 and ITR 4) for the assessment year 2020-21. The amended Rule 12 provided that ITR-1 cannot be used by a person falling under the two categories, namely person who owns a house property in joint-ownership and another […]...

Read More
Posted Under: Income Tax |

Search Posts by Date

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031