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Archive: October, 2020

Posts in October, 2020

5 Best Ways to Learn Stock Market for Beginners

October 23, 2020 22245 Views 1 comment Print

In this blog, we have covered a few most effective ways to learn the stock market for beginners. FinnovationZ is one of India’s leading platforms that answers all your doubts about investment and trading.

Why the EMI Card is the more preferred payment option during a crisis

October 23, 2020 1674 Views 0 comment Print

Managing one’s finances during a crisis can be a daunting task and it often teaches us a few things about being better at managing our finances. The good news is that today we have many tools at our disposal which allow us to get going during trying times. One such tool is the Bajaj Finserv […]

GST Interest on Gross Tax Liability : HC disposes writ as per Administrative Instruction

October 23, 2020 1104 Views 0 comment Print

Parnika Commercial And Estates Private Ltd. Vs Union of India (Delhi High Court) Bu this writ Petitioner had sought a declaration that the liability to pay interest under Section 50 of the Central Goods and Services Tax Act, 2017  is confined only to the net tax liability and no interest is payable on the available […]

No Tax on Interest accrued/ received by Indian PE from its HO/ overseas branches

October 23, 2020 1698 Views 0 comment Print

MUFG Bank Ltd. Vs ACIT (International Taxation) (ITAT Delhi) With respect to the addition on account of the interest received by Indian branches from head office and other overseas branches amounting to ₹ 3,499,476/–. During the year , assessee has received an interest of ₹ 3,499,476 from its head office and overseas branches. The assessee […]

RTCA files writ in HC for Tax Audit Due date extension (Read Petition)

October 22, 2020 13800 Views 0 comment Print

Rajasthan Tax Consultants Association  has filed a writ with Hon;ble Rajasthan High Court to direct the CBDT to decide the representation of the RTCA requesting extension  due date of filing of Tax Audit Report and Income-tax Return for the assessment year 2020-2021 till December 31, 2020. Relevant Text of the Petition is as follows:- The […]

Appellate Authorities can accept Additional Claim under Section 54

October 22, 2020 1413 Views 0 comment Print

Smt. Monika Jain Vs ITO (ITAT Delhi) The issue under consideration is whether the additional claim (section 54 exemption Claim) will be allowed to be presented in front of appellate authorities? ITAT states that, the Assessing Officer has been barred from accepting any new claims, but no such bar has been imposed on the appellate […]

Amendment in Export Policy of Nitrile/NBR Gloves

October 22, 2020 1470 Views 0 comment Print

Export policy of Nitrile/NBR Gloves exported under above mentioned HS Codes or any other HS Code is revised from Prohibited to Restricted category.

Changes in regulatory framework for Housing Finance Companies

October 22, 2020 2244 Views 1 comment Print

HFCs shall carry out securitization of standard assets and transfer of assets through direct assignment of cash flows and the underlying securities. In doing so, HFCs, among other things, shall conform to the minimum holding period (MHP) and minimum retention requirement (MRR) standards.

Digital Payment Transactions – Streamlining QR Code infrastructure

October 22, 2020 807 Views 0 comment Print

i. The two interoperable QR codes in existence – UPI QR and Bharat QR – shall continue as at present. ii.  Payment System Operators (PSOs) that use proprietary QR codes shall shift to one or more interoperable QR codes; the process of migration shall be completed by March 31, 2022. iii. No new proprietary QR codes shall henceforth be launched by any PSO for any payment transaction.

Graded relaxation in visa and travel restrictions

October 22, 2020 660 Views 0 comment Print

In view of the situation arising out of the COVID-19 pandemic, the Government of India had taken a series of steps to curtail the inward and outward movement of international passengers since February, 2020.

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