On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020. Order u/s 119(2a) issued. F. No. 225/150/2020-ITA-II Government of India Ministry of Finance Department of […]
State/ UT Governments may take a decision in respect of re-opening of schools and coaching institutions, after 15th October 2020, in a graded manner. The decision shall be taken in consultation with the respective school/ institution management, based on their assessment of the situation, and subject to the following conditions:
The rates of interest on various Small Savings Schemes for the third quarter of financial year 2020-21 starting from 1st October, 2020 and ending on 31st December, 2020 shall remain unchanged from those notified for the second quarter (1st July, 2020 to 3oth September, 2020) of financial year 2020-21.
DCIT Vs. Coffee Day Global Ltd. (ITAT Bangalore) The issue under consideration is whether foreign exchange fluctuations are allowed as revenue expense u/s 37 of Income Tax Act? ITAT states that, the Supreme Court in the case of CIT vs. Woodward Governor India Pvt. Ltd. (2009) 312 ITR 254 had already held that the actual […]
The issue under consideration is appellant seeks suspension of sentence awarded by Trial Court for 4 years for the offence punishable under Section 9 of Prevention of Corruption Act, 1988.
Sree Lakshmi Vs DCIT (ITAT Bangalore) We have already examined the legal position with regard to validity of initiation of proceedings u/s. 153C of the Act de hors incriminating material found in the course of search which belong or relate to the assessee. Admittedly, no such incriminating material was found in respect of any of […]
Insolvency and Bankruptcy Board of India (Press Release) No. IBBI/PR/2020/13 30th September 2020 Limited Insolvency Examination w.e.f 1st January 2021 The Insolvency and Bankruptcy Board of India hereby publishes the syllabus and details of the Limited Insolvency Examination (Examination) under regulation 3 (3) of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 […]
In India custom clearance is a complex and time taking procedure that every export face in his export business. Physical control is still the basis of custom clearance in India where each consignment is manually examined in order to impose various types of export duties. High import tariffs and multiplicity of exemptions and export promotion […]
Recently, a plea has been filed in the Supreme Court for pursuing the Right against Exploitation guaranteed under the Constitution of India and seeking the protection and safeguard of law for the transgender community by Advocate Reepak Kansal in his personal capacity and further recommending an Anti-discrimination bill for the Third Gender Community.
The Ministry of Corporate Affairs has made a further effort to encourage a greater deal of “Ease of doing business”, the Ministry of Corporate Affairs has enhanced the timeline regarding the duration of several schemes till the end of the year 2020 in the wake of constant disturbance caused by the coronavirus pandemic in certain parts of the country. […]
