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Archive: 07 April 2021

Posts in 07 April 2021

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6435 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Request for Extension of date of Revised Return of Income Tax

April 7, 2021 37215 Views 8 comments Print

The banks have almost reported wrong information to the department. The interest reported is twice/thrice than interest shown by the assessee in the income tax return. The banks have reported interest on the basis of consolidation as per form 26Q. Then they have reported on the basis of Form 26AS and thirdly on the basis of individual FDR basis. Some banks have reported the FDR values also. This has created big problem for professionals as to how to reply the wrong and lengthy information in compliance portal

34 Amendments via IBC (Amendment) Ordinance 2021

April 7, 2021 25041 Views 0 comment Print

President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 The President promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on 4th April 2021. The Cabinet had approved on 31st March 2021 the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (Code), through the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021. The […]

GST @ 5% not applicable for facilities provided in self-owned marriage & party halls

April 7, 2021 27336 Views 0 comment Print

The AAR, Haryana in the matter of M/S. Jewel Classic Hotels Pvt. Ltd. [Advance Ruling No. HAR/HAAR/R/2019-20/23, decided on June 25, 2020] held that the facilities for food catering, banquet etc. provided in self-owned marriage and party halls by separate entities under common ownership is not covered under ‘outdoor catering’ as per Notification No. 11/2017 […]

Section 148 Judgments on Improper Notice, Vague reasons, Cash Deposit, AIR

April 7, 2021 13584 Views 0 comment Print

Important judgements regarding service of notice u/s 148 when not in a proper manner, reasons recorded are vague, AIR information is not sufficient and deposit of cash and bank not always income of the assessee Written Submissions before the Hon’ble Commissioner of Income Tax (Appeals), Faceless in the case of Shri XXXXX XXXXXX, XXXXXX (XXXXXXXXXX) […]

Centre to operationalise COVID Vaccination Centres at Work Places

April 7, 2021 591 Views 0 comment Print

Centre issues Guidance Note to operationalise COVID Vaccination Centres at Work Places (Govt. and Private) From 11 April 2021 all Employees of Work Places aged 45 yrs or more to be Vaccinated at Work Place Vaccination centres With the extension of COVID-19 vaccination to all citizens aged 45 years or more from 1st April 2021, […]

Taxpayer functionalities deployed on GST Portal in March 2021

April 7, 2021 2388 Views 0 comment Print

New Functionalities made available for Taxpayers on GST Portal in March, 2021 1 – Registration 1. Assignment of new applications of registration, in certain cases, with same PAN and in same State/ UT New registration applications of the applicants, whose previous application for registration were either rejected by Tax Officer or whose GSTIN was cancelled […]

How to file Income Tax return when window to file the tax return is closed by Income Tax portal

April 7, 2021 84921 Views 49 comments Print

Missed the deadline to file your Income Tax return? Learn how to file it even when the window is closed by the Income Tax portal.

Adjudication order not valid if no valid service of show cause notice

April 7, 2021 4269 Views 0 comment Print

Baldeep Singh Vs Commissioner of Customs (CESTAT Delhi) In the present case inspite of opportunity given, Revenue failed to produce the proof of delivery of the show cause notice. Further, from perusal of the order-in-original, I find that the Adjudicating Authority have not recorded satisfaction of service of show cause notice and have proceeded to […]

RBI increases limits for bank lending against NWRs/eNWRs

April 7, 2021 753 Views 0 comment Print

It has been decided to enhance the PSL limit for loans against NWRs/eNWRs from ₹50 lakh to ₹75 lakh per borrower. The PSL limit backed by the warehouse receipts other than NWR/eNWR will continue to be ₹50 lakh per borrower.

Bank loans to HFCs for on-lending for housing to continue

April 7, 2021 513 Views 0 comment Print

It has been decided to extend the PSL classification for lending by banks to NBFCs for on-lending by six months i.e. up to September 30, 2021. However, bank loans to HFCs for on-lending for the purpose of housing, as prescribed in para 23 of our Master Direction on PSL dated September 4, 2020, will continue on an on-going basis.

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