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Archive: 30 March 2021

Posts in 30 March 2021

Labour Reforms w.e.f. 1st April 2021 & Impact thereon

March 30, 2021 84057 Views 6 comments Print

Hon Prime Minister of India needs highest applaud for eliminating number of Acts & Rules and introduction of following laws  and rescinding 29 other labour laws for ease of doing business and considering health, safety and security of labours / employees : 1) The Code on Wages, 2019 2) The Code on Social Security, 2020 […]

Expectations from New Foreign Trade Policy 2021-26

March 30, 2021 3834 Views 0 comment Print

Whole of the Trade & Industry is looking forward towards New Foreign Trade Policy 2021-26 on the background of the dream of Hon Prime Minister to make Indian Economy $ 5 Trillion by 2025 and appeal to the citizens be “Vocal for Local” and “Be Local and Go Global”. Ministry of Commerce is now with […]

Four point plan by Govt to deal with blockage of Suez Canal

March 30, 2021 405 Views 0 comment Print

A Four-point plan has been chalked out to deal with the situation arising from the blockage of Suez Canal. This plan was chalked out in a meeting convened by the Logistics Division, Department of Commerce, Government of India today.  The meeting was chaired by Shri PawanAgarwal, Special Secretary (Logistics) and attended by the Ministry of Ports, Shipping and Waterways, ADG Shipping, Container Shipping Lines Association (CSLA) and Federation of Indian Export Organisations (FIEO).This plan includes –

5 Years Imprisonment To Then Area Enforcement Officer Of EPFO in DA Case

March 30, 2021 1095 Views 1 comment Print

The Special Judge for CBI Cases, Mumbai  has sentenced Shri Vinayak Dhondiram Sonawane then Area Enforcement Officer, EPFO, Mumbai to undergo five years Rigorous Imprisonment with fine of Rs. 5,000/- for possession of disproportionate assets.

Not mandatory to maintain separate books of accounts for claiming section 10A deduction

March 30, 2021 1902 Views 0 comment Print

AO did conduct an enquiry, called for details, the details were produced and thereafter, the assessment was completed. Therefore, the finding of the PCIT was erroneous, consequently, assumption of jurisdiction under Section 263 was not sustainable. Also, there was no requirement in law to maintain separate books of account for claiming deduction under section 10A. However, since the deductions under these sections were available only to the eligible units, AO might call for such details or information pertaining to different units to verify the claim and quantum of exemption, if so required.

Investment adviser to render investment advice & not to manage funds/Securities: SEBI

March 30, 2021 387 Views 0 comment Print

In terms of the SEBI (Investment Advisers) Regulations, 2013, an Investment Adviser is required to render investment advice to its client and not manage funds or securities on behalf of the client.

Allowability of cash expenses supported by self made vouchers

March 30, 2021 4347 Views 0 comment Print

Seward Exports Pvt Ltd. Vs ACIT (ITAT Jaipur) t there are inconsistencies in the findings of the ld. CIT(A), where at first place, he has held that the Assessing Officer has not able to bring any example of specific disallowable expenses in case of loading and unloading expenses and under the similar facts pattern where […]

Procedure to be followed for containers selected for scanning at MXCS

March 30, 2021 6084 Views 0 comment Print

Commissioning and commencement of operation of Mobile X-Ray Container Scanner (MXCS) at JNPCT Terminal; Procedure to be followed for containers selected for scanning at MXCS (Scan Mode-M1) -reg.

Reduction of Capital | Section 66 | Companies Act 2013

March 30, 2021 32292 Views 0 comment Print

Paying off part of the shares out of capital in excess of wants so as to enable the holders of the remaining shares in effect to acquire the interest of those paid off and become the only shareholders;

Procedure for import of Moong, Tur & Urad for year 2021–2022

March 30, 2021 897 Views 0 comment Print

Public Notice No. 47/ 2015-20 Dated: 30th March, 2021 Procedure / modalities for import of 1.5 Lakh MT of Moong, 4 Lakh MT of Tur and 4 Lakh MT of Urad for the fiscal year 2021–2022.

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