"21 January 2021" Archive

Steps to be taken for rescue, protection & rehabilitation of a transgender person

F. No. 15011/191/2020-SC/ST-W 21/01/2021

F. No. 15011/191/2020—SC/ST-W Government of India Ministry of Home Affairs (Women Safety Division) 2nd Floor, MDC National Stadium, New Delhi — 110001, Date: 21st January, 2021 To, Chief Secretaries/ Advisors to Administrators (All States and UTs) Subject: Transgender Persons (Protection of Rights) Act 2019 and the Transgender Persons...

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Withdrawal of circulars on Recovery of excess pension made to pensioners

RBI/2020-21/84 DGBA.GBD.No.SUO 546/45.01.001/2020-21 21/01/2021

It has been brought to the notice of RBI that the recovery of excess /wrong pension payments from the pensioners are being made in a manner that is not in keeping with the extant guidelines / Court orders....

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CBIC notifies Rate of Exchange of Foreign Currencies wef 22.01.2021

Notification No. 05/2021-Customs (N.T.) 21/01/2021

CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 22nd January, 2021, vide Notification No. 05/2021-Customs (N.T.), Dated: 21st January, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 05/2021–Customs (N.T.) New Del...

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SCN not time barred if petitioner is guilty of suppression of facts & wilful mis-statements

M/s New Era Trading Pvt Ltd Vs The Commissioner of Customs Export (Delhi High Court)

Learned counsel for the respondent on the other hand has relied on the Section 28AAA of the Customs Act to contend that the SCN is not time barred inasmuch as the petitioner is guilty of suppression of facts and wilful mis-statements in claiming the benefits under the Scheme. Prima facie we find merit in the contention of the respondent....

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A person not become ineligible for SVLDR Scheme due to any inquiry /audit/investigation initiated after 01.09.2019

Pro Sportify Private Limited Vs Principal Commissioner, Central Goods and Services Tax (Punjab and Haryana High Court)

Pro Sportify Private Limited Vs Principal Commissioner, Central Goods and Services Tax (Punjab and Haryana High Court) The Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 came into force w.e.f. 01.09.2019, thus any enquiry/audit/investigation initiated after aforesaid date cannot make any person ineligible because period running fr...

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CFSS-2020 extended till 31st March 2021 – Applicable to whom?

General Circular No. 03/

The Companies Fresh Start Scheme. 2020 {CFSS-2020}, operationalized vide General circular no. 12/2020 dated 30.03.2020 and extended vide General Circular Number 30/2020 dated 28.09.2020 is no longer applicable on various filings under Companies Act, 2013. Now, CFSS – 2020 has been extended till 31.03.2021 but the question is –...

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Posted Under: Corporate Law |

IBC 2020 Amendment Is Valid : Supreme Court

Ashutosh Gupta & Gaurav Rana Supreme Court provided a window of two month from the order to the applicants/homebuyers to approach the NCLT after complying the first or second proviso to Sub-Section 1 to Section 7 of the IBC. The Supreme Court on Tuesday in batch matters lead by Manish Kumar Vs UOI WP(C) No. […]...

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Posted Under: Corporate Law |

Suggestions on taxation of capital gains

In this article I wish to give some suggestions to the Finance Minister to make the taxation of capital gain more rational by removing some anomalies. Here are my suggestions. Rebate available under Section 87 A for capital gains Section 87 A allows a resident Individual a tax rebate tax upto Rs. 12,500/- if his […]...

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Posted Under: Corporate Law |

Empanelment as Concurrent Auditor with IDBI Bank

Empanelment of Chartered Accountant firms as Concurrent Auditor ♥ IDBI Bank invites online applications from practicing partnership firms of Chartered Accountants within India, in the prescribed format, who are willing to have their firms empanelled as Concurrent Auditors of the Bank. ♥ The online system shall be available from 01.202...

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Posted Under: Corporate Law |

TNMM method is most appropriate method to take care of all notional interest costs

Gimpex Pvt. Ltd. Vs ACIT (ITAT Chennai)

Gimpex Pvt. Ltd. Vs ACIT (ITAT Chennai) There is no dispute with regard to the fact that receivables is included under the definition of international transactions by amending section 92B by the Finance Act, 2012 w.e.f. 01.04.2002. Therefore, we are of the considered view that there is no merit in the arguments advanced by the […]...

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