"30 December 2020" Archive

GST annual returns due date for FY 2019-20 extended till 28.02.2021

Notification No. 95/2020-Central Tax 30/12/2020

CBIC hereby extends the time limit for furnishing of the annual return specified under section 44 of the said Act read with rule 80 of the said rules, electronically through the common portal, for the financial year 2019-20 till 28.02.2021....

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Companies (Meetings of Board and its Powers) Fourth Amendment Rules, 2020

G.S.R. 806(E) 30/12/2020

These rules may be called the Companies (Meetings of Board and its Powers) Fourth Amendment Rules, 2020. They shall come into force on the date of their publication in the Official Gazette....

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Govt extend due dates of Tax Audit/ITR/VSV Scheme/GSTR 9/9A/9C

NA 30/12/2020

In view of the continued challenges faced by taxpayers in meeting statutory compliances due to outbreak of COVID-19, the Govt further extends the dates for various compliances. Due date for filing ITR (Non tax audit) extended till 10/01/2021. Due date for filing Tax Audit and TP Audit Report extended till 15/01/2021. Due date for filing [...

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Providing of accommodation & food & beverages by Trust not constitutes commercial activities

ACIT(E) Vs India International Centre (ITAT Delhi)

ACIT(E) Vs India International Centre (ITAT Delhi) ITAT held that activities of the Trust of providing accommodation and food and beverages etc. does not constitute commercial activities and activities of the Trust are not hit by any proviso to section 2(15) of the Act. FULL TEXT OF THE ORDER OF ITAT DELHI Challenging the orders of [&hel...

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Small Savings Scheme Interest rates- January 2021 to March 2021

F. No. 1/4/2019-NS 30/12/2020

Rate of interest w.e.f 1st January, 2021 and ending on 31st March, 2021 on Small Savings Scheme i.e. Post Office Savings Account, 1,2,3,5 Year Time Deposit, 5 Year Recurring Deposit Scheme, Senior Citizen Savings Scheme, Monthly Income Account, National Savings Certificate (VIII Issue), Public Provident Fund Scheme, Kisan Vikas Patra and ...

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Courier Imports and Exports (Electronic Declaration and Processing) Amendment Regulations, 2020

Notification No. 115/2020-Customs (N.T.) 30/12/2020

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) Notification No. 115/2020-Customs (N.T.) New Delhi, the 30th December, 2020 G.S.R. 808(E).—In exercise of the powers conferred by section 157 read with section 84 of the Customs Act, 1962 (52 of 1962), the Central Board of Indirect Taxes and Custom...

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Section 234B interest cannot be levied when entire income is subject to TDS

NGC Network Asia LLC Vs DDIT- International Tax (ITAT Mumbai)

NGC Network Asia LLC Vs DDIT- International Tax (ITAT Mumbai) One of The ground raised by the assessee is with regard to charging of interest u/s.234B of the Act. We find that assessee is a non-resident whose entire income is subject to deduction of tax at source u/s.195 of the Act. Accordingly, the assessee had […]...

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Recognition of CMA Courses of Institute of Cost Accountants of India by UK NARIC

CMA Biswarup Basu, President, The Institute of Cost Accountants of India informed that the International Affairs Committee of the Institute, with the objective of enhancing the recognition and professional opportunities for its students and members across the globe had engaged UK NARIC (National Recognition Information Centre in United Ki...

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An Interplay – Income Tax Search and Seizure & Income Tax Settlement Commission

Chapter XIX-A of the Act pertains to settlement of cases. Under sub-section (1) of section 245C of the Act, an assessee at any stage of a case relating to him can make an application for settlement in the prescribed manner....

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Extension of Due date for TAR & IT Returns- Gujarat HC fixes next hearing on 31.12.2020

Gujarat Federation of Tax Consultants Vs Union of India (Ahmedabad High Court)

Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) Gujarat High Court heard petition for extension of due dates in TAR and ITR for A Y 2020-21 on today. Court issued notice and fix next hearing on tomorrow. FULL TEXT OF THE HIGH COURT ORDER/JUDGEMENT Heard Mr. S. N. Soparkar, learned Senior […]...

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