CBIC notifies Rate of Exchange of Foreign Currencies against India Rupees wef 5th March, 2021, vide Notification No. 26/2021-Customs (N.T.), Dated: 4th March, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 26/2021–Customs (N.T.) New Delhi, dated the 4th March, 2021 13 Phalguna 1942 […]
Introduction- Section 60 Provisional Assessment ♦ Where the taxable person is unable to determine the value of goods or services or both or determine the rate of tax applicable thereto, he may request the proper officer in writing giving reasons for payment of tax on a provisional basis and ♦The proper officer shall pass an order […]
Procedure for Amnesty Scheme-2021 and for disposal of outstanding demands or disputes pertaining to the period upto 30.06.2017:- 1. Registered, Cancelled and Unregistered Dealers/Persons may apply on the web portal of Commercial Taxes Department (rajtax.gov.in) for expressing their willingness to take benefit under the scheme using the link ‘Amnesty Scheme-2021’.
EPFO stands committed to serve its stakeholders in J&K and Ladakh, who are covered under EPF& MP Act, for providing social security cover in the form of provident fund, pension and insurance benefits to its members in a hassle-free manner.
Reserve Bank of India in its press release in various newspapers and in its website has informed us that the Financial Action Task Force (FATF), vide public document ‘High-Risk Jurisdictions subject to a Call for Action’ dated February 25, 2021, has called on its members and other jurisdictions to refer to the statement on these […]
Smt. Sarika Mittal Vs ACIT (ITAT Jabalpur) It is not in dispute that the AO in all the cases is of the rank of the Assistant Commissioner, i.e., below the rank of the Joint Commissioner. Similarly, the year of search being f.y. 2009-10, all the assessment years under reference, i.e., AYs. 2004-05 to 2010-11, are […]
India has attracted total FDI inflow of US$ 67.54 billion during April to December 2020. It is the highest ever for the first ninth months of a financial year and 22% higher as compared to the first ninth months of 2019-20 (US$ 55.14 billion).
Srabani Construction (P) Ltd Vs DCIT (ITAT Cuttack) In respect of addition of Rs.51,84,803/- made by the AO u/s.68 of the Act with regard to sundry creditors, on observing the financial statement it is found that the assessee could not produce the creditors as well as could not satisfy the three ingredients i.e. identity, creditworthiness […]
Bank of India Vs ACIT (ITAT Mumbai) To sum up, the assessee is declined the foreign tax credits for Rs 182,64,22,948, and, accordingly, we hold that the assessee is not entitled to seek a refund of that money from the Indian tax exchequer. As we hold so, we may add that in the present case, […]
ACIT Vs Mittal Roadways Pvt. Ltd. (ITAT Jabalpur) From the above correspondence between the A.O. on one hand and the JCIT on the other hand and the letter addressed by the JCIT to the Commissioner clearly shows that it was at the stage of discussion and the JCIT could not able to make his mind. […]
