"03 May 2021" Archive - Page 3

Written submissions without a conscious waiver cannot be treated as waiver of Right to be heard

Amrik Singh Bhullar Vs ITO (ITAT Chandigarh)

Amrik Singh Bhullar Vs ITO (ITAT Chandigarh) ITAT Chandigarh thrashing three important issues of mass importance in pervasive and Omnipotence e-proceedings in tax administration held; In the light of the above different set of reasoning, the issues raised are being decided under the following sub-issues: i) Limitation ii) What would const...

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All about Overseas Direct Investment (ODI) under FEMA

In this era of globalization, Overseas Direct Investment (ODI) has become a buzzword. From the past few years, it has been observed that the trend of making investment in businesses overseas is increasing year by year. Many of the resident individuals and Indian Companies are investing / acquiring stake in the foreign entities. This artic...

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Posted Under: Income Tax |

Form CSR-1 Registration with MCA for Getting CSR Funding – FAQ’s

Dear friends, as per Notification issued by Ministry of Corporate Affairs dated 22nd January 2021, it is mandatory for all NGO’s which wants to raise CSR Funding to enrol with MCA w.e.f 01/04/2021 to get CSR Funding. As per this notification from 01 April 2021 onwards, every entity, covered under sub-rule (1), who intends to undertake...

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Posted Under: Income Tax |

HC directs CIT(A) to dispose Appeal under Faceless appeal Scheme within 12 weeks

I. P. Yesudoss Vs Ministry of Finance (Madras High Court)

High Court After Taking Cognizance of Delayed Disposal of Appeals under Faceless Appeal Scheme, 2020  Directed Commissioner of Income Tax (Appeals) On Account of Principles of Natural Justice To Decide Appeal Expeditiously Within 12 Weeks....

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Tax on Income from cloud/web hosting services under India-USA Treaty

Trimble Solutions Corporation Vs DCIT (ITAT Mumbai)

Income from cloud hosting services is erroneously held as royalty within the meaning of explanation 2 to section 9(l)(vi) of the Income Tax Act, 1961 (the Act) as well as Article 12(3)(b) of the India - US tax treaty...

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CBIC Draft Authorization form for IGST Exemption for Covid Material

Instruction No. 09/2021-Customs and F. No. CBIC-190354/2/2021-TO (TRU-I)-CBEC(Part-I) 03/05/2021

In view of the COVID-19 pandemic, the Central Government has issued notifications exempting Basic Customs Duty and/or Health cess on imports of a number of COVID-19 related relief materials such as Remdesivir, its API, Diagnostic Markers, Medical Oxygen, Oxygen concentrators and other oxygen storage and transportation equipment, for a lim...

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Equalisation Levy- Section wise Analysis

Introduction: India first introduced an equalisation levy in 2016 and 2020 Budget substantially extended the scope of the equalisation levy. Besides taxing online advertisement services, it was also levied on the consideration received by e-commerce operators crossing the prescribed threshold, for supplies to Indian residents, persons usi...

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Posted Under: Income Tax |

Discussion paper on Increasing General Insurance penetration in rural areas

A discussion paper on 'Increasing General Insurance penetration in rural areas with special focus on agriculture and allied activities through the concept of a Model Insured Village' has been issued by the Authority....

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Posted Under: Income Tax |

Delhi govt announces portal for distribution of Remdesvir Injections

F. No. PA/03/DC/H00/2020/162 03/05/2021

As per Delhi HC order,Delhi govt has developed a portal for distribution of Remdesvir Injections GOVT. OF NATIONAL CAPITAL TERRITORY OF DELHI DRUGS CONTROL DEPARTMENT GOVT. OF NCT OF DELHI F-17, KARKARDOOMA, DELHI-110032 E-mail- [email protected], Ph. No. 011-22393703 F. No. PA/03/DC/H00/2020/162 Date- 03/05/2021 ORDER As per the directions o...

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Sunset Review investigation concerning imports of ‘Methyl Acetoacetate’

Case No. SSR-21/2020 03/05/2021

Case No. SSR-21/2020 Sunset Review investigation concerning imports of ‘Methyl Acetoacetate’ originating in or exported from China PR....

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June 2021