Direct Taxes Professionals’ Association, Kolkata has requested FM for further extension of various due dates under Income-tax Act, 1961 especially Income Tax Return Forms for AY 2020- 21, Tax Audit Reports and other related Returns for AY 2020- 21. Text of their representation is as follows:- DIRECT TAXES PROFESSIONALS’ ASSOCIATION Income Tax Building, 3, Govt. […]
Central Government has inserted a new rule in CGST Rules, 2017, Rule 86B, providing for restrictions on use of amount available in electronic credit ledger. This rule shall be applicable from 1st January, 2021 and has an over-riding effect over other rules. It states that the registered person shall not use the amount available in […]
A. FAQs on Aadhaar Authentication for Existing Taxpayers (Regular and Composition) Overview Q.1 Is it mandatory for every authorized signatory, promoter or partner to get Aadhaar authenticated for a new GST Registration? Ans: No, it is not mandatory for every authorized signatory, promoter or partner to get Aadhaar authenticated for a new GST Registration. Aadhaar […]
All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court) High Court held that respondent No.1 – Union of India, Ministry of Finance should immediately look into the issue, more particularly, the representation dated 12th October 2020 at Annexure : I of the paper book (page 108) and take an appropriate decision […]
RBI releases on its website Norms for selection of branches of Public Sector Banks (PSBs) for Statutory Audit, Procedure for appointment of Statutory Branch Auditors, General guidelines applicable to appointment of Statutory Branch Auditors and Eligibility norms for the empanelment of audit firms to be appointed as Statutory Branch Auditors in PSBs. Norms on eligibility, […]
You would have heard many GST fake invoice fraud news in recent time, in spite of many checks and balances introduced in GST laws such as GSTR-2A, Rule 36(4), e-invoicing, e-way bill etc. In a release, the CBIC said that it has so far registered about 12,000 cases of ITC fraud and arrested 365 people, […]
Understand the legal aspects of seizure and assessment of undisclosed jewellery in income tax search cases.
MCA has changed the applicability date of CARO, 2020 to the financial years commencing on or after the 1st April, 2021. So, CARO 2020 will be applicable from Financial Year 2021-22.
Present writ petition has been filed seeking a declaration that Sections 69 and 132 of the CGST Act, 2017 are arbitrary, unreasonable and being beyond the legislative competence of the Parliament are ultra vires the Constitution. Held by High COurt This Court has refused to pass any interim order holding that it is not inclined […]
Securities and Exchange Board of India CIRCULAR SEBI/HO/IMD/DF1/CIR/P/2021/02 January 08, 2021 To, All Portfolio Managers Dear Sir/ Madam, Sub: Monthly Reporting of Portfolio Managers 1. Securities and Exchange Board of India (SEBI) had mandated certain changes to the regulatory framework for Portfolio Managers vide circular no. SEBI/HO/IMD/DF1/CIR/P/2020/26 dated February 13, 2020. In terms of para […]
