"23 March 2021" Archive - Page 4

Advance ruling Rectification request liable for rejection if no apparent error or mistake

In re NMDC Limited (GST AAR Karnataka)

In re NMDC Limited (GST AAR Karnataka) It is clearly evident from the aforesaid AAR Order that the authority has considered all the submissions and issued the proper order. Hence there is no error / apparent mistake on the face of the record, in the said order and hence the instant application is not valid […]...

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Conditional exemption from issue of Physical copy of Electronic Policies till 30.09.20201

Ref. No: IRDAI/Life/Cir/Misc/056/03/2021 23/03/2021

The desirability of adopting total digital means of doing business in the interests of policyholders and other stakeholders exemption is allowed for six months more by Competent Authority under Proviso to Regulation 4(iii) of the Referred Regulations, from the requirement to issue policy document, copy of proposal form in physical form. T...

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SFIO investigating 20; RDs investigating 38 cases in misuse of corporate structure/ fraud Financial Year 2020-21

The Ministry of Corporate Affairs (MCA) has ordered for investigation and assigned to Serious Fraud Investigation office (SFIO) and Regional Directors (RDs) in the cases where there are allegations of misuse of corporate structure/ fraud....

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Sanction for prosecution accorded in 366 cases in violation of CSR provisions

Whenever any violation of CSR provisions is reported, action against such non-compliant Companies are initiated as per provisions of the Act after due examination of records and following due process of law....

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Bankrupt Companies after lockdown was imposed due to COVID-19 pandemic

As per information from Insolvency and Bankruptcy Board of India (IBBI), details for the period from 01.04.2020 to 31.12.2020 of the number of companies declared bankrupt in the country after the lockdown was imposed due to COVID-19 pandemic is as under:...

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1,38,051 new companies registered from April 2020 to February 2021

The Minister of State for Finance & Corporate Affairs Shri Anurag Singh Thakur said that 1,38,051 new companies registered in the current Financial Year from April 2020 to February 2021 while  10,113 of Companies have been struck off by invoking the Provisions of section 248 of the Companies Act, 2013 from April 2020 to February 2021....

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CBDT notifies CIT (Appeals) for cases under Black Money Act 2015

F.No. 279/Misc./M-44/2018-ITJ 23/03/2021

Approval for notifying Commissioners of Income-tax (Appeals) to exercise jurisdiction over the cases under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015- reg....

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HC allows GST Registration with effect from 1st July 2017

JAP Modular Furniture Concepts Pvt. Ltd. Vs. State Of Gujarat (Gujarat High Court)

JAP Modular Furniture Concepts Pvt. Ltd. Vs. State Of Gujarat (Gujarat High Court) In this case provisional GST registration of the writ applicants under the GST Act was also blocked / inactivated and final registration was not granted to the writ applicants under the GST Act on account of cancellation of registration under Vat. The [&hel...

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Input Tax Credit (ITC) : A question of concern to taxpayer

The Input Tax Credit (ITC) is a privilege given to the taxpayer by the Govt. The taxpayer is thankful for it but the condition put forward (by the Govt.) for enjoying it is not simple. The taxpayer has to ask himself a lot of questions as to whether he should claim ITC as per his […]...

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Whether shops/offices can be treated as a SOP for House Property exemption

Whether shops and offices can be considered as a self occupied property (SOP) for the purpose of exemption under the head ‘Income from House Property’? Prior to FY 2019-20, if more than one self-occupied house property was owned by the taxpayer, only one was considered and treated as a self-occupied property and the remaining ...

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June 2021