"20 April 2021" Archive - Page 2

Maharashtra Imposes stricter Lockdown from 8 PM on 20th April, 2021

Order No: DMU/2020/CR. 92/DisM-1 20/04/2021

All Groceries, Vegetables Shops, fruit vendors, dairies, bakeries, confectionaries, all type of food shops (including chicken, mutton, poultry, fish and eggs), shops related to agricultural implements and farm produce, pet food shops, shops related to materials for impending rainy season for individuals as well as for organisations to be ...

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Cabinet approves MRA/MOU between ICAI & Institute of Australia & New Zealand

Cabinet approves Mutual Recognition Agreement between the Institute of Chartered Accounts of India and the Certified Practising Accountant, Australia and Memorandum of Understanding between the Institute of Chartered Accountants of India and Chartered Accountants Australia and New Zealand. Cabinet Cabinet approves Mutual Recognition Agree...

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Posted Under: Corporate Law |

Tax planning with respect to Dividends

Tax planning with respect to Dividends for Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I hereby try to give a simplified version of Tax planning with respect to Dividends for the Assessment Years 2020-2021, 2021-2022 and Assessment Year 2022-2013. I. Assessment Year 2020-2021. You have to understand the following ...

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Posted Under: Corporate Law |

HC imposes cost on revenue for filing frivolous GST appeals on Transitional Credit Issue

Commissioner of GST & Central Excise Vs Checkpoint Apparel Labeling Solutions India Pvt. Ltd (Madras High Court)

Commissioner of GST Vs Checkpoint Apparel Labeling Solutions India Pvt. Ltd (Madras High Court) We are constrained to observe that the Revenue Department, cannot be permitted to file such frivolous appeals by way of intra court appeals. The documents discussed above and quoted by us clearly establish beyond doubt that the Assessee had bee...

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Interest income

Notification No. 2 of 2021-DGIT 20/04/2021

The reporting entities are advised to provide information of interest income, reported to Income Tax Department, to the account holder (in the form of Interest Certificate either through email or portal) which will enable taxpayers to reconcile the information displayed in the Annual Information Statement (AIS) (Form 26AS)....

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Format, Procedure and Guidelines for submission of Statement of Financial Transactions  (SFT) for Dividend income

Notification No. 1 of 2021-DGIT 20/04/2021

The reporting entities are advised to provide information of dividend income, reported to Income Tax Department, to the taxpayers which will enable them to reconcile the information displayed in the Annual Information Statement (AIS) (Form 26AS)....

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Determining costing in Service Industry

I. Introduction: Determining costing in a service industry is an essential concept since every service organization needs to ascertain its business overheads as service sector companies provide their customers with services or intangible products. Put simply, the term service costing or operational costing refers to the computation of the...

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Posted Under: Corporate Law |

FSSAI issue directions for facilitating food businesses during COVID-19

No. 15 (6)2020/FLRS/RCD/FSSAI 20/04/2021

To facilitate the continuity of food business operations during the prevailing COVID-19 outbreak, the Food Safety & Standards Authority of India (FSSAI) has taken immediate steps to ensure uninterrupted food services/supply during the current scenario....

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Section 11 exemption cannot be denied merely for non filing of Form no. 10

Trust For Reaching The Unreached Through Trustee Vs CIT (Exemptions) (Gujarat High Court)

Trust For Reaching The Unreached Through Trustee Vs CIT (Exemptions) (Gujarat High Court) The writ-applicant is a public charitable trust. The writ-applicant seeks to challenge the order passed by the respondent dated 26th August 2019 under Section 119(2)(b) of the Income Tax Act, 1961, rejecting the application filed by the writ-applican...

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Extend time for completing compliances under GST

Hon’ble Madam, we are approaching your honour with a humble request to extend the time for statutory compliances under Goods and Services Tax. The due date for filing GSTR-3B (Monthly Return) is today. Due date for filing GSTR-1 was 11th of April for the monthly details of March, 2021....

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Posted Under: Corporate Law | ,

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