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Archive: 31 August 2020

Posts in 31 August 2020

Tenure of CBDT Chairman P. C. Mody extended till 28.02.2021

August 31, 2020 621 Views 0 comment Print

President of India extended re-employment of Shri Pramod Chandra Mody, as Chairman,CBDT for a further period of six months with effect from 01.09.2020 to 28.02.2021

Spot delivery of bullion & dealing in bullion depository receipt notified

August 31, 2020 2214 Views 0 comment Print

Spot delivery of bullion and dealing in bullion depository receipt notified. Bullion financing etc also notified MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 31st August, 2020 S.O. 2957(E).—In exercise of the powers conferred by sub-clause (vi) of clause (d)and sub-clause (xiv) of clause (e) of sub-section (1)of section 3 and clause […]

Can COVID override Income Tax Procedures

August 31, 2020 2553 Views 0 comment Print

ITAT ORDER VALIDITY IN CORONAVIRUS – CAN COVID OVERRIDE PROCEDURES? Recently before the Mumbai tribunal, in the cross appeal case of DCIT Vs JSW Limited (Respondent) (successor company on amalgamation Of JSW Ispat Limited) -ITA No. 6264/Mum/18 Assessment year: 2013-14, and JSW Limited (Appellant) (successor company on amalgamation Of JSW Ispat Limited) Vs Deputy Commissioner […]

Important Taxation amendments w.r.t. Tax Audit/Company Audit for FY 2019-20

August 31, 2020 22209 Views 11 comments Print

Here’s a list of a few Important Taxation amendments w.r.t. Tax Audit/Company Audit for FY 2019-20: 1. The threshold limit of Rs 1 crore for applicability of Tax audit u/s 44AB(a) is increased to Rs 5 crore if the taxpayer’s cash receipts are limited to 5% of the gross receipts or turnover and the cash […]

GST Action Plan for September 2020

August 31, 2020 8481 Views 0 comment Print

September 2020 is considered to be a significant month for any Financial Year as it includes major compliances under the Goods & Services Act. Here, I provide you with the list of activities which should be performed by a registered person under GST. Article contains GST Action Plan for September 2020 and explains Extension of […]

4 Recent Enhancements on GSTN Portal

August 31, 2020 3690 Views 0 comment Print

Recent Enhancements on GSTN Portal (www.gst.gov.in) – Recently GSTN has rolled out few enhancements on GSTN portal for the benefit of tax payers. Some of the major enhancements being –Introduction of ITC Statement Form GSTR-2B, Option to file GST refund application spread across multiple Financial Years, Facility to check Bill of Entry (BOE) Info with […]

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