"25 June 2021" Archive

Circular extending Income Tax Compliance Due Dates amid Covid-19

Circular No: 12 of 2021 25/06/2021

Extension of Income tax time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic- Objections to Dispute Resolution Panel (DRP) and Assessing Officer under section 144C of the Act, for which the last date of filing under that Section is 1st June, 2021 or thereafter, may be filed within the time provi...

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Twitter Blocks account of Ravi Shankar Prasad for one Hour

Friends! Something highly peculiar happened today. Twitter denied access to my account for almost an hour on the alleged ground that there was a violation of the Digital Millennium Copyright Act of the USA and subsequently they allowed me to access the account....

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Posted Under: Income Tax |

Govt extends 18 Income Tax Due Dates amid Covid 19

Ministry of Finance Government grants further extension in timelines of compliances Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19 Posted On: 25 JUN 2021 6:24PM by PIB Delhi A. Tax exemption Many taxpayers have received financial help from their employers and well-wishers...

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Posted Under: Income Tax |

GST Impact & ITC Eligibility on Purchase/Sale of Motor Vehicle/Car/Bus With Charts & Table

Are you also Confused about all this??? Then here all your Questions about GST applicability and ITC availability of GST paid on Purchase and Sale of motor vehicle / car / bus will be answered. In this article, we will cover following things, – ITC on purchase of Motor Vehicle/Car/Bus. – ITC availability if such […]...

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Posted Under: Income Tax |

PMC Bank: RBI extends validity period of Directions

Press Release: 2021-2022/430-RBI 25/06/2021

Directions under Section 35-A of the Banking Regulation Act, 1949 (AACS) – Punjab and Maharashtra Cooperative Bank Limited, Mumbai, Maharashtra – extension of validity period of Directions...

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MSME UAM obtained till 30.06.2020 is valid till 31.12.2021: RBI

Circular No. RBI/2021-2022/63 FIDD.MSME & NFS.BC.No.12/06.02.31/2021-22 25/06/2021

The existing Entrepreneurs Memorandum (EM) Part II and Udyog Aadhaar Memorandum (UAMs) of the MSMEs obtained till June 30, 2020 shall remain valid till December 31, 2021. Reserve Bank of India RBI/2021-2022/63 FIDD.MSME & NFS.BC.No.12/06.02.31/2021-22 June 25, 2021 The Chairman/ Managing Director/Chief Executive Officer All Commercial...

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Level 3 curbs in Maharashtra to contain Delta plus & Covid-19 spread

Order No: DMU/2020/CR. 92/DisM-1 25/06/2021

Given that the virus causing Covid 19 is undergoing mutations in various geographies and that these mutations are displaying more transmissibility and potential reductions in monoclonal antibody response, a State Level Trigger mandating all the administrative units, irrespective of values of the indices of weekly positivity rate and oxyge...

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DGFT notifies SIONs for Phenol and Acetone

Public Notice No. 10/2015-20 [F. No. 01/82/171/00003/AM22/DES-III] 25/06/2021

DGFT notifies SIONs for export product Phenol and Acetone under Chemical & Allied Product Group  vide Public Notice  No. 10/2015-20 | Dated: 25th June, 2021. MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) New Delhi Public Notice  No. 10/2015-20 | Dated: 25th June, 2021 Subject : Fi...

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Draft Gas Cylinders (Fourth Amendment) Rules, 2021

Notification No. G.S.R. 462(E) 25/06/2021

All the high pressure cylinders and Cryogenic containers used for filling Non-Toxic, Non-Flammable Gases and Liquids shall have permanent and tamperproof marking in form of QR code at conspicuous place on cylinders....

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Why buying term life insurance in your 30’s is a smart choice

Graduating, getting a job, starting to manage your own finances, and securing your future are all the stepping stones one sets out to achieve in their 20s. By the time you’re 30, you have likely achieved some financial stability. But, the 'what if' factor never leaves the mind, does it?...

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Posted Under: Income Tax |

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July 2021