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 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 […]
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 […]
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 […]
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 […]
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 […]
FAQs on MCA Notification for Web Link of Annual Return and Companies (Management & Administration) Amendment Rules, 2020 1. What are the effective dates of the amendment of Section 92(3) and the Companies (Management and Administration) Amendment Rules, 2020? Ans. Both the notifications are effective from 28th August, 2020. 2. What is the effect of […]
GSTN has enabled Form GSTR 2B in the GST Portal. The Taxpayer can log in with there login credentials then go to F.Y 20-21 for July 2020, the Form GSTR-2B is available on the Portal. The GST Council, in its 39th meeting held March 2020, had recommended to adopt and implement the incremental approach of […]
SUPREME COURT OF INDIA Standard Operating Procedure for limited physical hearing before Hon’ble Court In continuation of directions already notified regarding functioning of the Supreme Court of India, in the wake of the Covid-19 pandemic, more particularly through Circulars dated 14.03.2020 and 23.03.2020, and on consideration of the requests received from the Bar Associations, the […]
Banks are, , advised to immediately refund the charges collected, if any, on or after 1st January 2020 on transactions carried out using the electronic modes prescribed under section 269SU and not to impose charges on any future transactions carried through the said prescribed modes.
