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Archive: April, 2021

Posts in April, 2021

How to pay your Taxes under Income Tax Act, 1961

April 15, 2021 1707 Views 0 comment Print

Learn how to pay your taxes under the Income Tax Act, 1961. Discover the options for online and offline payment and ensure compliance with the law.

IRDAI Penalises SBI General Insurance Company Ltd.

April 15, 2021 1134 Views 0 comment Print

IRDAI Penalises SBI General Insurance Company Ltd. for Non-Compliance with minimum obligations under Motor Third Party business as specified in IRDAI (Obligation of Insurer in respect of Motor Third Party Insurance Business) Regulations, 2015 for the financial year 2017-18

Addition on protective basis not justified when AO already taxed on substantive basis

April 15, 2021 6897 Views 0 comment Print

Once the substantive assessment in the case of Mr. Siya Ram Gupta was confirmed , the protective assessment had no independent standing but dependent on the final outcome of the substantive assessment. CIT(A) was right for deleting the addition on protective basis on the ground that AO had already taxed the same in the hands of Mr. Siya Ram Gupta on substantive basis.

Anti-dumping duty on imports of ‘Barium Carbonate’ to continue till 20.10.2021

April 15, 2021 891 Views 0 comment Print

Seeks to amend notification No. 14/2016-Customs (ADD), dated 21-04-2016, so as to extend the applicability of the said notification up to and inclusive of 20th October, 2021 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 22/2021-Customs (ADD) New Delhi, the 15th April, 2021 G.S.R 264 (E).- Whereas, the designated authority vide initiation […]

An Outline concerning FSSAI

April 15, 2021 1212 Views 0 comment Print

-FSSAI Stands for “Food Safety and Standard Authority of India. FSSAI is an Independent organization under the Ministry of Health. -FSSAI Registration is mandatory for every individuals or entity that is eligible for an FSSAI food safety Registration or License. -For Ex. Gol gappa stall, fruits/vegetables vendors, snacks stall, Tea Stall, Samosa, Bread pakoda, retail […]

Draft Rules under section 16 (5) of OSH&WC Code, 2020

April 15, 2021 1341 Views 0 comment Print

The following draft rules, which the Central Government proposes to make in exercise of powers conferred by Sections 16 (5) of the Occupational Safety, Health and Working Conditions Code, 2020 (37 of 2020) read with section 24 of General Clauses Act, 1897(10 of 1897), are hereby notified

Govt amends Courts for trial of cases under PMLA in Kerala

April 15, 2021 2040 Views 0 comment Print

Govt amends Courts for trial of cases under Prevention of Money Laundering Act, 2002 (PMLA 2002) in Kerala in consultation with the Chief Justice of the concerned High Court. MINISTRY OF FINANCE (Department of Revenue) Notification New Delhi, the 15th April, 2021 S.O. 1648 (E).—In exercise of the powers conferred by sub-section (1) of section […]

RBI releases Names of Applicants for ‘on tap’ Licensing of Universal & Small Finance Banks

April 15, 2021 615 Views 0 comment Print

RBI today released the names of applicants under the Guidelines for ‘on tap’ Licensing of Universal Banks and Small Finance Banks. As on date, applications for Universal Banks and Small Finance Banks, under the aforementioned guidelines, have been received by the Reserve Bank from the following applicants:

Fee structure for Investment Advisers and Portfolio Managers in IFSC

April 15, 2021 1110 Views 0 comment Print

In exercise of the powers conferred by Section 12 of the International Financial Services Centres Authority Act, 2019, the fee structure for Investment Advisers and Portfolio Managers in IFSC is being revised as follows:

Miscellaneous functionalities/changes enabled in ICES

April 15, 2021 804 Views 0 comment Print

Option to Retransmit Shipping Bills to RBI: Instances have been received from the trade where shipping bills details do not get reflected in RBI System (EDPMS) at times, creating difficulties in foreign exchange receipts by them. For resolving such issues, an option has been enabled for the field officers under AMEND role in ICES to retransmit the shipping bills to RBI. This is similar to the option available to retransmit SBs to DGFT.

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