"18 March 2021" Archive - Page 2

Equalisation Levy – what may change from upcoming Financial Year

Equalisation Levy 1.0 Equalisation Levy was introduced by the Finance Act, 2016 with effect from 1st June 2016. The equalisation levy was levied at the rate of 6% of the amount of consideration for any specified service received or receivable by a person, being a non-resident from— (i) Any person resident in India carrying on business ...

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Posted Under: Income Tax |

MCA establishes Central Scrutiny Centre for carrying out scrutiny of STP e-forms

Notification No. S.O. 1257(E). 18/03/2021

Central Government hereby establishes a Central Scrutiny Centre (CSC) for carrying out scrutiny of Straight Through Processes (STP) e-forms filed by the companies under the Act and the rules made thereunder....

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Anti-dumping duty on imports of ‘Faced Glass Wool in Rolls’ from China

Notification No. 14/2021-Customs (ADD) [G.S.R. 199(E)] 18/03/2021

Seeks to impose definitive anti-dumping duty on imports of ‘Faced Glass Wool in Rolls’ originating in or exported from People’s Republic of China. Notification No. 14/2021-Customs (ADD) Dated: 18th March, 2021. MINISTRY OF FINANCE (Department of Revenue) Notification No. 14/2021-Customs (ADD) Dated: 18th March, 2021 G.S....

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Reporting & Accounting of Central Govt transactions of March 2021

RBI/2020-21/108 DGBA.GBD.No.S-140/42.01.029/2020-21 18/03/2021

The Government of India has decided that the date of closure of residual transactions for the month of March 2021 be fixed as April 10, 2021. In view of the ensuing closing of government accounts for the financial year 2020-21, receiving branches including those not situated locally, should adopt special arrangements such as courier servi...

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HC issued directions that no recovery should be during search/inspection under any circumstances

The Hon’ble Gujarat High Court in Bhumi Associate v. Union of India [R/Special Civil Application Nos. 2426, 2515, 2618 and 3196 of 2021 decided on February 18, 2021] passed an interim order directing the CBIC and Chief Commissioner of Central/State Tax to issue guidelines by way of suitable circular/instructions that no recovery in any ...

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Posted Under: Income Tax |

HC issues COVID Guideline for compliance by all airlines & DGCA

Court On Its Own Motion Vs Directorate General Of Civil Aviation & Ors. (Delhi High Court)

The DGCA is directed to reflect, forthwith, on its website, prominently, the instructions containing the guidelines and protocols to be followed by passengers and in-flight crew in domestic flights. This shall be reflected on the main website of the DGCA, without requiring the person accessing the site to navigate through various links to...

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Adverse reactions to Covid-19 vaccination covered under Mediclaim

There have been press reports raising doubts whether any adverse reactions to Covid-19 vaccination that require hospitalization will be covered by the health insurance policies....

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Posted Under: Income Tax |

Check IFSC Code Indian Directory

IFSC – Indian Financial System Code is an 11 digit alphanumeric code. IFSC code is used to detect the bank branch for any particular bank account. Let us learn about the denotation of each digit in an IFSC code finder. The first four digits in an IFSC code define the name of your bank. The […]...

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Posted Under: Income Tax |

Non allotment of audit to displaced auditors of Allahabad Bank by Indian Bank

PD/A-32/2021 01/01/1970

We have received several complaints from our members regarding non allotment of audit by Indian Bank to the auditors of erstwhile Allahabad Bank with the remaining term, during the year. We understand that the names of the Bank Branch Auditors of Allahabad Bank (merged with Indian Bank) have been sent to all Public Sector Banks as Non Con...

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Posted Under: Income Tax |

ICAI Releases Sustainability Reporting Maturity Model Version 1.0 

ICAI has developed Sustainability Reporting Maturity Model (SRMM) Version 1.0 with an objective to bring out a comprehensive scoring tool based on report of the Committee on Business Responsibility Reporting constituted by the Ministry of Corporate Affairs (MCA) in August, 2020....

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Posted Under: Income Tax |

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