"30 April 2021" Archive - Page 2

HC stays Faceless Assessment order passed without personal hearing despite request for same

Axis Wind Farms (Anantapur) Private Limited Vs Union of India (Telangana High Court)

Axis Wind Farms (Anantapur) Private Limited Vs Union of India (Telangana High Court) Petitioner contends that the impugned Assessment Order has been passed by 2nd respondent for the Assessment Year 2018-19 without providing a personal hearing to the petitioner and without considering the documentary evidence provided by petitioner. Sri B....

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No Section 68/69C addition for mere non appearance of same director

Ancon Chemplast P. Ltd. Vs ITO (ITAT Delhi)

Merely because the some Directors did not appear in the case of assessee would not be a ground to have an adverse inference against the assessee, therefore, there was no justification to sustain the addition of Rs.45 lakhs under section 68 and addition of Rs.90,000/- under section 69C....

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Credit of MIS/SCSS/TD Interest into account holders Bank Account

SB Order No. 09/2021 30/04/2021

Payment of MIS/SCSS/TD accounts Monthly/Quarterly/Annual interest amount and maturity value of MIS/SCSS/TD/RD/KVP/NSC into account holder's Bank Account by CBS Post Offices - Reg....

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Basic Savings Accounts under Post Office Savings Account Scheme 2019

SB Order No. 08/2021 30/04/2021

Introduction of Basic Savings Accounts under Post Office Savings Account Scheme 2019 to facilitate opening of Zero Balance Accounts by beneficiaries of any Government Welfare Scheme and reduction in account maintenance fee on PO Savings Account- regarding....

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Duty exemption on import of oxygen concentrators for personal use

Notification No. 04/2015-2020-DGFT [S.O. 1723(E).] 30/04/2021

Para 2.25 of Foreign Trade Policy, 2015-20 is revised to include import of oxygen concentrators for personal use through post, courier or e-commerce portals in the list of exempted categories, where Customs clearance is sought as gifts, till 31 July 2021....

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Timelines for updation of SID & Key Information Memorandum

SEBI/HO/IMD/IMD-I DOF2/P/CIR/2021/0560 30/04/2021

For the open ended and interval schemes, the SID shall be updated within next six months from the end of the 1st half or 2nd half of the financial year in which schemes were launched, based on the relevant data and information as at the end of previous month. Subsequently, SID shall be updated within one month from the end of the half-yea...

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All About E-Invoicing

E-invoicing, stands for electronic invoicing system. The GST Council, in its 37th meeting held on 20th September 2019, approved the introduction of e-invoicing. E-invoicing is the exchange of the invoice documents between a supplier and a buyer in an integrated electronic format. Now why E-Invoicing?...

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Posted Under: Income Tax |

Why Revised Return Concept Under Income Tax Law

Under Income tax law revised return is dealt in section 139(5). Now first question which must come to your mind that why there is concept of revised return. Revised return in simple words can be termed as return which is filed to correct error or mistake i.e. correct return. While filing ITR whether original return […]...

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Posted Under: Income Tax |

Pre-packaged insolvency resolution process: Survival & Revival of Stressed MSMEs

Pre-packaged insolvency resolution process: Survival & Revival of Stressed MSMEs. Are you not able to pay your instalments on account of COVID pandemic ? Are you MSME ? Is you default Amount is more than 10 Lakhs ? Quicker, cost-effective and value maximising outcomes for all the stakeholders stressed MSMEs. MSME sector has been s...

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Posted Under: Income Tax |

Form DIR-3: Application For Allotment of DIN/DPIN

Who needs to apply? ♦ As per Section 153 of the Companies Act read with Rule 9(1) of Companies (Appointment and Qualification of Directors) Rules 2014: Every individual who intends to be appointed as director of an existing company shall make an application for allotment of DIN(Director Identity Number) in Form DIR-3. ♦ As per [&helli...

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Posted Under: Income Tax |

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