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Archive: April, 2021

Posts in April, 2021

Measures taken by ESIC during recent surge of COVID-19 pandemic

April 23, 2021 1602 Views 3 comments Print

To deal with the resurgence of COVID-19 Pandemic, the Employees’ State Insurance Corporation (ESIC) under the Ministry of Labour and Employment has undertaken multiple steps to cater to its Stakeholders as well as general public.  

Offence under PMLA includes ‘Scheduled Offence’ & ‘Offence of money-laundering’

April 23, 2021 21711 Views 0 comment Print

Fairdeal Supplies Limited & Anr.Vs. Union of India & Ors. (Calcutta High Court) (i) On a plain reading of Section 2(1)(y) and Section 3 of the PMLA , it appears to me that the legislature has bifurcated the offence under PMLA into “Scheduled Offence” and “Offence of money-laundering”. “Scheduled Offence” are provided in Part A […]

Training Requirements exempted for June-2021 CMA Examinations

April 23, 2021 456 Views 0 comment Print

This is to notify that all types of training to be completed before appearing CMA Intermediate/ Final Examinations as applicable are hereby exempted only for June- 2021 Term of Examinations due to pandemic situation arising out of spread of COVID-19.

Actual Receipt of Money mandatory to invoke section 68

April 23, 2021 4464 Views 0 comment Print

ITO Vs Zexus Air Services Pvt. Ltd. (ITAT Delhi) It is an undisputed fact that there is no actual receipt of any cash by the assessee company in the instant case towards issue of share capital and such shares were issued in lieu of goodwill. In the instant case, the assessee has debited goodwill account […]

No rejection of request for conversion to drawback-cum-advance authorization’ shipping bills without giving proper opportunity of hearing

April 23, 2021 1968 Views 0 comment Print

M/s. Accoladee Vs Commissioner of Customs (Madras High Court) Brief: Conversion of the shipping bill from ‘drawback shipping bills to drawback-cum-advance authorization’ shipping bills. It is revealed that the advance authorization licence taken by the petitioner is not disputed. Our Comments: In the present case, petitioner is a manufacturer and exporter of garments. In the […]

CBI arrests then Superintendent of GST in an ongoing Investigation

April 23, 2021 804 Views 0 comment Print

CBI ARRESTS THEN SUPERINTENDENT OF GST IN AN ONGOING INVESTIGATION OF A CASE The Central Bureau of Investigation has arrested the then Superintendent of GST, Hyderabad in an ongoing investigation of a case. CBI had registered a case on 08.07.2019 against the accused and his wife on the allegations of illicitly enriching themselves to the […]

PM holds a high level meeting on oxygen supply & availability

April 23, 2021 723 Views 0 comment Print

Read Press Release on 1. PM holds a high level meeting on oxygen supply and availability 2. Yoga and Naturopathy to aid the Psychosocial Rehabilitation of Covid-19 Patients 3. Drone use permission to ICMR for conducting feasibility study of Covid-19 vaccine delivery 4. Finance Minister Smt. Nirmala Sitharaman says Government is working arduously for smooth […]

Is it mandatory to file ITR & audit report of Trust registered u/s 12A/12AA

April 23, 2021 118180 Views 6 comments Print

Is it mandatory to file ITR and audit report of the Trust/ institutes registered under Section 12A/ Section 12AA of Income Tax Act, 1961? For the Trust/ institutes registered u/s 12A/12AA*, Is it mandatory to file ITR and audit report of the Trust/ institutes registered u/s 12A/12AA*? let’s try to find answer step by step […]

Form 10A & 10AB | Trust Registration | Section 12A, 80G, 10(23C) & 35(1)

April 23, 2021 179640 Views 43 comments Print

A Brief about Form 10A and 10AB as per new Law on Registration of trust under Section 12A and Section 80G and Approval U/s 10(23C) and Section 35(1) The Finance Act, 2020 has made changes leading to complete overhaul in the registration process of charitable and religious organisations. The procedure for registration of every organisation […]

Nodal Officer for facilitating Customs Clearance of COVID or Medical goods

April 23, 2021 1521 Views 0 comment Print

Nodal Officer for facilitating Customs clearance of COVID or Medical related goods including raw materials, packaging materials, medicines, medical machinery, their parts, etc – reg.

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