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Archive: 31 May 2021

Posts in 31 May 2021

Format of compliance report on Corporate Governance by Listed Entities

May 31, 2021 25956 Views 0 comment Print

Securities Exchange Board of India (‘SEBI’) vide its Circular dated May 31, 2021, has notified amendment in format of Compliance report on Corporate Governance to be submitted by listed entities. SEBI has added ‘Annex IV’ to be submitted on a half yearly basis (w.e.f. first half year of the FY 2021-22) which shall cover details of loan/ […]

Implementation date of disclosure of risk-o-meter of scheme extended

May 31, 2021 570 Views 0 comment Print

risk-o-meter of the scheme and the benchmark along with the performance disclosure of the scheme vis-à-vis benchmark and Details of the portfolio – Based on the representation received from AMFI, it has been decided to extend the implementation date of the provisions of the aforesaid circular to September 1, 2021.

MVAT: Administrative Relief To Un-Registered Dealers- Dispenses return filing requirement

May 31, 2021 3228 Views 0 comment Print

Due to current system in place it is not possible to file the returns pertaining to such unregistered period till the registration is made effective for such period on system.

MVAT: Clarification on periodicity of return filing & Late Fees

May 31, 2021 37677 Views 0 comment Print

The annual return is prescribed for those dealers whose tax liability in the previous year does not exceed Rs. 25,000/, Financial Year 2019-20 was the first financial year for which this new annual periodicity of return filing is applicable. Accordingly, those dealers who were having tax liability below Rs. 25,000/-in the previous financial year 2018-19 were required to file annual return for the year 2019-20.

CBDT to share Information with notified State Police Agencies

May 31, 2021 1443 Views 0 comment Print

State Police Agencies as notified by the Central Government in connection with NATGRID project – To facilitate the process of furnishing and receiving information, Memorandum of Understanding entered between Director General of Income-tax (Systems) and NATGRID shall be suitably amended to include the State Police Agencies notified by the Central Government in connection with NATGRID Project.

SC demands full COVID-19 Vaccination purchase & dose data

May 31, 2021 537 Views 0 comment Print

In Re: Distribution Of Essential Supplies And Services During Pandemic (Supreme Court of India) We direct the UoI to file an affidavit, which shall address the issues and questions raised in Section E, wherein it shall ensure that each issue is responded to individually and no issue is missed out. We also direct that the […]

Investment cannot be said to be Bogus merely for loss to Investor

May 31, 2021 1056 Views 0 comment Print

Naveen Infradevelopers & Engineers Pvt. Ltd Vs DCIT (ITAT Delhi) With the approval of the Competent Authority, the following officers shall hold the charge along with zonal charges mentioned against their name with immediate effect, until further orders: Reopening of assessment u/s 147 – Addition u/s 68 – optionally convertible debentures issued to the Infotel technologies […]

CBDT to share information with State Police Agencies of 6 States

May 31, 2021 1440 Views 0 comment Print

Central Government specifies the Nodal officers of the following State Police Agencies for the purposes of the said clause in connection with sharing of information through National Intelligence Grid (NATGRID) platform

Relaxation in compliance with requirements pertaining to AIFs & VCFs

May 31, 2021 504 Views 0 comment Print

SEBI in receipt of representation from AIF Industry, requesting extension of timelines for various regulatory filings and compliances for AIFs and VCFs, due to ongoing second wave of the CoVID- 19 pandemic and restrictions imposed by various state governments.

Reassessment on the basis of change of opinion, bad-in-law

May 31, 2021 2241 Views 0 comment Print

Uttarakhand Purv Sainik Kalyan Nigam Ltd. Vs ITO (ITAT Dehradun) Reassessment on the basis of change of opinion, bad-in-law, more-so, when the case was re-opened after the expiry of four year and there was no non-disclosure which could be attributable to the assessee A) Re-opening of assessment on the same issue which was dealt during […]

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