It has been decided to relax the above stipulation as a one-time measure. Accordingly, unutilised ECB proceeds drawn down on or before March 01, 2020 can be parked in term deposits with AD Category-I banks in India prospectively for an additional period up to March 01, 2022.
Stay up to date with the latest Income Tax Rates for Assessment Year 2021-22/Financial Year 2020-21. Understand how it applies to individuals, HUFs, AOPs, BOIs, co-operative societies, and LLPs.
Let me just introduce myself so that you understand that you can trust my words. I have cleared my CS examinations in first attempt with All India Rank in all the three stages and I am currently working with Tata Capital Limited.
CBDT has notified the ITR-1 to ITR-7 for F.Y. 2020-21 and stated that no significant changes have been made to ITR forms as compared to the previous year to help the taxpayers and minimize compliance burden in view of the ongoing crisis due to the COVID pandemic.
A Limited Liability Partnership (LLP) is governed under LLP act 2008, LLP is a partnership in which liability of all or some members is limited. hence, no member shall liable for the acts of other partner except in case of fraud. LLP shall be body corporate and a legal entity separate from its partner. ADVANTAGES […]
Approval for notifying Commissioners of Income-tax (Appeals) to exercise jurisdiction over appeals in cases pertaining to Direct Taxes/ Direct Tax Acts other than Income-tax Act, 1961 post Faceless Appeal Scheme,2020 -reg.
In addition to other functions, Turant Suvidha Kendra (TSK) at Nhava Sheva will act as Facilitation Helpdesk for any grievance related to clearances of the B/E filed in the port.
AA520 Veerappampalayam Primary Agricultural Cooperative Credit Society Limited Vs DCIT (Madras high court) The scope of an ‘intimation’ u/s 143 (1) (a) of the Act, extends only to the making of adjustments based upon errors apparent from the return of income and patent from the record The scope of an ‘intimation’ under Section 143 (1) […]
The Ministry of Finance’s concerns regarding possible tax avoidance practices by manipulations in the prices charged or paid, in intra-group transactions, started increasing gradually with the increase in the economic activity reported by these Multi-National Companies. These concerns prompted the then Indian Government to eventually introduce the Transfer Pricing (TP) Regulations via The Finance Bill (2001).
Sandeep Ahuja Vs Union of India & Ors. (Delhi High Court) The Petitioner is a Director in five companies. Due to non-filing of annual returns and balance sheets in one of the companies, the Petitioner was disqualified as a director in 2017 with effect from 1st November, 2017 to 31st October, 2022 under Section 164(2)(a) […]
