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In the wake of the continuous disruption caused by the COVID-19 pandemic and as a result of various requests received from the businessmen and entities registered under the GST regime. The government has extended by a month the deadlines for furnishing annual returns for 2018-19 under the goods and services tax (GST) regime through the way of the circular. It stated “After the […]
The CBDT has announced certain key changes in the income-tax provisions for certain payments and expenses, which shall be applicable from Oct 1st, 2020, for facilitating ease for the assesses and taxpayers for the Act. Many of the taxpayers, investors, depositors, and consumers will get affected by the new provisions such as changes in key timelines to file revised (ITRs) and new […]
In the wake of the continuous disruption caused by the COVID-19 pandemic and as a result of various requests received from the businessmen and assesses under the Income-Tax Act 1961. The Central Board of Direct Taxes (CBDT) on September 30 prolonged the last date for filing belated and revised ITRs for Assessment Year 2019-20 from September 30, 2020, to November […]
The nation’s most complex indirect taxation system became one of the biggest taxation reform systems and came in the form of GST in India. The Indian economy has got a lift with the cascading effect of GST within the long term. The successful GST implementation with a unified tax structure across diverse Indian regions felt […]
The issue under consideration is whether the writ petition filed against the order of DRP rather than first go for appeal before tribunal is justified in law?
Director Of Income-Tax International Taxation Vs Intel Capital (Cayman) Corporation (Karnataka High Court) HC: Capital gain on conversion of FCCBs into shares would be determined by adopting conversion price prevailing at BSE or NSE on date of conversion Conclusion: AO was not justified in computing capital gains by adopting the cost of acquisition at Rs. 873.83 […]
Order u/s 34AD of the Wealth Tax Act. 1957 In exercise of the powers conferred on the Chief Commissioner or Director General of Income Tax under section 34AD of the Wealth Tax Act, 1957, I, the Chief Commissioner of Income Tax-03, Delhi hereby having regard to the conditions prescribed in Section 34AD of the W.T.Act, 1957, remove the names of the below mentioned registered valuers from the Register of Valuers maintained in the 0/o Pr.CCIT, Delhi with immediate effect:
A new sub-para (d) under para 4.25 of FTP 2015-20, for disallowing import of tyres under DFIA scheme is introduced. Notification No. 38/2015-2020-DGFT Dated: 06.10.2020
A new sub-pan has been inserted in the Foreign Trade Policy, 2015-20 to give effect to the pars 6.3 of the Ministry of Textiles Notification No. 14/2612016-1T (Vol-II) dated 07.03.2019. as amended vide Notification No. 12015/11/2020-TTP dated 09.06.2020 regarding the issue of duty credit scrips under Scheme for Rebate of State Levies. Government of India […]
Notification No. 29 dated 25.08.2020 is amended to the extent that the export policy of N-95/FFP-2 masks or its equivalent is amended from ‘Restricted’ to ‘Free’ category making all types of masks freely exportable. Government of India Ministry of Commerce 86 Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan New Delhi Notification […]
