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Archive: 28 June 2021

Posts in 28 June 2021

Govt announces stimulus package of Rs 6,28,993 crore

June 28, 2021 9375 Views 1 comment Print

Presentation of stimulus package of Rs 6,28,993 crore announced by Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman to support Indian economy in fight against COVID-19 pandemic

Representation to increase GST Collection & give True Benefit of GST Amnesty Scheme

June 28, 2021 6570 Views 5 comments Print

Representation to increase Government GST Collection (Tax Augmentation) and giving True Benefit of recent Amnesty Scheme announced in 43rd GST Council Meeting ALL ODISHA TAX ADVOCATES ASSOCIATION (AOTAA) Regd No : 270/7202000078 of 2020-21 Address : Link Road, Near Prime Hospital, Cuttack – 753012, Odisha, India Contact No : +91 8908700000, Email : secretary@odishataxadvocates.in Web […]

GST leviable on interest paid on late payment of invoices

June 28, 2021 51621 Views 2 comments Print

AAR held that Indian company is liable to pay GST on reverse charge basis for amount paid as interest to its holding foreign company on late payment of invoices of imported goods, as the same is to be included value of supply as per Section 15(2)(d) of the Central Goods and Services Act, 2017

FAQs – SEBI LODR amendments dated May 05, 2021

June 28, 2021 5397 Views 0 comment Print

The National Stock Exchange of India Limited has released a list of FAQs vide Circular  Ref: NSE/CML/2021/23 Dtd. 28th June, 2021 regarding the amendments introduced by the SEBI vide notification dated 05th May, 2021 in the existing provisions of SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. Q. No. Question Reply 1 As per Regulation […]

Basic Ideas on The Contents of A Good Project Report

June 28, 2021 8382 Views 0 comment Print

The pious and challenging resolution to adopt entrepreneurship as an occupation is the step preceding the establishment of any new business. This needs to identify attractive and effective business ideas after an in-depth evaluation of the prospects of the proposed entrepreneurship venture and the related challenges.

GST on arranging sales of goods to recipient located outside India

June 28, 2021 1572 Views 0 comment Print

In re Teretex Trading Private Limited (GST AAR West Bengal) Whether supply of services by the applicant by way of arranging sales of goods to the recipient located outside the country shall be considered as ‘export of services’ or not? In the instant case, the applicant has admitted that he procures purchase order for supply […]

Insider Trading – Prevention, Control and Management

June 28, 2021 3384 Views 0 comment Print

Learn how to prevent, control, and manage insider trading with the SEBI regulations. Understand the responsibilities of compliance officers and the importance of policies and procedures.

Section 194Q and Section 206C(1H)

June 28, 2021 7995 Views 0 comment Print

Section – 194Q Deduction of Tax at Source on Payment of Certain Sum for Purchase of Goods Applicable Date: Provisions of Section 194Q are applicable from 01-07-2021. Who is liable and when to deduct tax under Section 194Q? The tax shall be deducted from the purchases made by a buyer if the following conditions are […]

Applicability & Analysis Section 206AB and 206CCA

June 28, 2021 257667 Views 12 comments Print

Applicability and Analysis Section 206AB and 206CCA of Income Tax Act, 1961 Introduction: Section 206AB and 206CCA are newly inserted sections in the Income Tax Act,1961 vide Finance Act, 2021. These sections are special provision for deduction/collection of tax at source at a higher rate for certain non-filers (specified person) of Income Tax Return. Section 206AB deals with […]

ITAT upheld Section 68 addition of LTCG in Penny Shares

June 28, 2021 2592 Views 0 comment Print

Vinay Kumar Dhingra (HUF) Vs ITO (ITAT Delhi) Contention of Assessee:  1. The assessee fulfills all conditions specified u/s. 10(38) 2. Though the purchase of securities are off market, the sale of shares was made online on which STT has been duly paid. 3. The shares were held for approximately 18 to 20 months 4. […]

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