"21 May 2021" Archive - Page 4

Extension in timelines to open FCRA SBI Account

No. 11/21022/36(58)/2021-FCRA-III 18/05/2021

In a recent notification released by the Ministry of Home Affairs, FCRA Wing, the Government has extended the deadline to open the FCRA account with the SBI- New Delhi Main Branch from March 31st, 2021 to June 30th, 2021. This has come in light of various multiple petitions filed by the NGOs in courts stating […]...

Read More
Posted Under: Fema / RBI |

IFSCA – Guidelines for issuance of Certificate of Deposits – Withdrawal

F.No.110/IFSCA/Banking Regulation/2021-22/4 21/05/2021

International Financial Services Centres Authority F.No.110/IFSCA/Banking Regulation/2021-22/4 Date : May 21, 2021 To all Banking Units Dear Sir/Madam, Subject: Guidelines for issuance of Certificate of Deposits – Withdrawal Banking Units may please refer to IFSCA Circular F. No.110/IFSCA/Banking Regulation/2021-22/2 on the above su...

Read More

Rates of Depreciation as Per Income Tax Act, 1961

Block of Assets :-The expressions Assets and Blocks of Assets w.e.f. 1-4-1999 shall mean a group of assets falling within a class of assets comprising:–Tangible Assets being buildings, machinery, plant or furniture;Intangible Assets being knowhow, patents, copyrights, trademarks, licences, franchises or any other business or commercial ...

Read More
Posted Under: Fema / RBI |

Rates of depreciation as per companies act 2013

Depreciation Rate Chart under Companies Act, 2013 as per SCHEDULE II (applicable from 01.04.2014) read with Section 123 which Corresponds to Schedule XIV of the Companies Act, 1956 ....

Read More
Posted Under: Fema / RBI | ,

Income Tax Benefits for Individuals & HUFs for A.Y. 2022-23

Article disusses- Tax Rate and Relief available to Individual and HUF, Income Exempt from Tax of Individual and HUF, Deductions allowable from Taxable Income to Individual/ HUF, benefits available for Individual and HUF having Income from Business and Profession, ...

Read More
Posted Under: Fema / RBI | ,

Income Tax benefits available to Small Businessmen for AY 2021-22

Article contain all benefit available to Small Businessmen for AY 2020-21 including provisions for Presumptive Taxation Scheme, Various deductions available from business profits, Maintenance of books of accounts and audit thereof, Exemptions and Deductions, Tax Deducted at Source and Advance Tax, Basic exemption limits, Concessional tax ...

Read More
Posted Under: Fema / RBI |

Income tax benefits available to Salaried Persons for A.Y. 2022-23

Articles compiles List of benefits available to Salaried Persons for AY 2019-20 which includes 1. House Rent Allowance, Children Education Allowance, Hostel Expenditure Allowance, Transport Allowance and other allowances 2. Perquisites...

Read More
Posted Under: Fema / RBI |

Interest on refund amount u/s 11BB to be sanctioned after delay of 3 months by respective authorities

Qualcomm India Private Limited Vs Union of India and Others (Bombay High Court)

Qualcomm India Private Limited Vs Union of India And Others (Bombay High Court) Conclusion: Once there was delay in payment of refund within three months from the date of receipt of application, rigors of section 11BB set in and payment of interest on the delayed refund became obligatory. Non-granting of interest in such a case […]...

Read More

LTCG Tax not payable on Sale of additional FSI : ITAT

Batliboi Limited Vs DCIT (ITAT Mumbai)

Batliboi Limited Vs DCIT (ITAT Mumbai) Assessee has received total sum of Rs.11,14,00,000/- from single purchaser on sale of land (Rs.5,72,84,600/-), towards building (Rs.64,90,400/-) and sale of additional FSI (Rs.4,76,25,000/-). We find that the total sale consideration of Rs.11.14 Crores has not been doubted by the Revenue. Admittedly,...

Read More

Search Posts by Date

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930