"22 April 2021" Archive - Page 5

No TDS on sales commission paid to non-residents for services rendered outside India

Modern Threads India Ltd. Vs ACIT (ITAT Jaipur)

The Hon’ble ITAT, Jaipur in Modern Threads India Limited v. ACIT (Income Tax Appeal Nos. 198/JP/2019 and 199/JP/2019 decided on February 15, 2021) has held that payment of sales commission by the assessee to non-resident agents for the services rendered outside India will not fall in the category of the income received or deemed to [&he...

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Assessment & Evaluation Practices of CBSE Board for 2021-22 Session

Circular No. 31/2021 22/04/2021

Augmenting the thrust towards CBE, the Board is initiating further corresponding changes in the Examination and Assessment practices for the year 2021-22. While the overall marks and duration of examination shall remain same, change in the composition of assessment tasks would help us achieve the desired ends....

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COVID Care facilities & makeshift hospitals are eligible CSR activity

General Circular No. 05/2021 22/04/2021

MCA issued General Circular No. 05/ 2021 dated 22nd April, 2021, wherein it has been clarified that spending for 'setting up COVID Care facilities & makeshift hospitals' is an eligible CSR activity....

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List of Essential Services Staff Permitted to travel by Local trains in Mumbai

Order No. DMU/2020/CR.92/DisM-1 22/04/2021

As per order of state Government, Ministry of Railways has permitted the following categories of Essential Services staff to travel by Local trains over Mumbai region from 08.00 PM on 22nd April, 2021 till 07.00 AM on 1st May, 2021:...

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Price of COVID-19 vaccine for state governments & private hospitals

We also Accessed Recent Press Release dated 21st April 2021 by Serum Institute of India Which say that price is Rs. 400 for State Government and 600 for Private Hospitals. Press Release is as as follows:- Wednesday, April 21, 2021 – Press Release Media Statement Serum Institute of India (SII), welcomes the recent announcement made [...

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Posted Under: Income Tax |

Existential Crisis of Justification of Pre-Incorporation Contracts in Jurisprudential Framework of Contract & Company Law

A company has its own separate legal entity, distinct from its members, which affords it certain characteristic features. One such feature is that a company can enter into a contract in its own name and entitled to acquire contractual rights and obligations. It is pertinent to note that such contractual powers can be exercised by [&hellip...

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Posted Under: Income Tax |

An Imposition of Penalty of Rs. 25 Cr on RIL Promoters

Amid the COVID -19 clouds we have an another SEBI judgement on the RIL that made headlines ‘SEBI IMPOSES PENALTY OF RS. 25 Cr on RIL Promoters‘ and that headline made us believe that we are headstrong in protecting every investor and every individual. However it raised some basic questions of law and there retrospective [&hell...

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Posted Under: Income Tax |

CMA Foundation Exam Time Table & Programme June 2021

Institute Of Cost Accountants Of India declares CMA Foundation Exam Time Table & Programme for JUNE 2021 Examination which will be held on 23rd July, 2021.  Also Read: CMA Intermediate And Final Exam Time Table & Programme June 2021 Full Details are as follows:- THE INSTITUTE OF COST ACCOUNTANTS OF INDIA (STATUTORY BODY UNDER AN ...

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Posted Under: Income Tax |

CMA Intermediate & Final Exam Time Table & Programme June 2021

Institute Of Cost Accountants Of India declares Intermediate And Final Examination Time Table & Programme  for JUNE 2021 Examination which will start from 26th July, 2021 and ends on 2nd August, 2021. Also Read: CMA Foundation Exam Time Table & Programme June 2021 Full Details is as follows:- THE INSTITUTE OF COST ACCOUNTANTS OF ...

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Posted Under: Income Tax |

Mere Cash Deposit Not A Valid Ground for Reassessment Proceedings

Ashish Natvarlal Vashi Vs ITO (ITAT Surat)

Ashish Natvarlal Vashi Vs ITO (ITAT Surat) 1. Merely cash deposit in a saving bank account does not show that income has escaped assessment. The process of reasoning is absent, and these reasons were not recorded on standalone basis therefore reopening made by the Assessing Officer may be quashed. 2. The amount deposited in the […]...

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