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Archive: 28 June 2021

Posts in 28 June 2021

All about Form 29B – Section 115JB report for computing book profits of Company

June 28, 2021 83934 Views 0 comment Print

Form 29B is a report under Section 115JB for computing the book profits of the Company. The same is to be furnished by a CA for a Company to which Section 11JB applies. This helps the assessee ensure correct computation of book profits to avail the resultant MAT credit arising out of the tax computed in accordance with the Income Tax Act.

Procedure for Transfer of NSS-87 & 92 standing in CBS PO to other Head PO

June 28, 2021 4500 Views 0 comment Print

Keeping in view of difficulties being faced by the account holders, the competent authority has decided to allow transfer of NSS-87 and NSS-92 standing in CBS post offices to other Head Post Office.

Input Tax Credit on demo car/Vehicle not allowed: AAAR

June 28, 2021 3570 Views 0 comment Print

In re BMW India Pvt. Ltd. (GST AAAR Haryana) We find that none of the uses to which the BMW Vehicles are put to, fits into the uses which find mention in sub-Section 17(5). The vehicles under question are not meant for ‘further supply of such motor vehicles’ i.e further supply as such’, but are […]

Separate counter for passbook updation/printing in CBS Post Office

June 28, 2021 2013 Views 0 comment Print

SB Order No. 13/2021 No. FS-13/7/2020- FS Government of India Ministry of Communications Department of Posts (F.S.Division) Dak Bhawan New Delhi-110011 Dated: 28.06.20.1. To, All Head of Circles/Regions, Sub: – Regarding passbook updation/printing option for MTS/GDS in CBS Post Office Sir/Madam, References have been received from the circles about opening of separate counter for passbook […]

All about quarterly Submission of Form 15CC

June 28, 2021 11841 Views 0 comment Print

FAQs on quarterly Submission of Form 15CC by an authorised dealer Q.1 What is Form 15CC? Ans. Every authorized dealer making remittance to a non-resident, not being a company or to a foreign company, is required to make a quarterly disclosure of such remittance  in Form 15CC. Q.2 What are the modes of submission of […]

Anti-dumping investigation on imports of Mono Ethylene Glycols or MEG

June 28, 2021 1218 Views 0 comment Print

The product under consideration for the purpose of the present investigation is Mono Ethylene Glycol, also known as MEG or Ethylene Glycol. Mono Ethylene Glycol is a clear, colourless, virtually odourless, and slightly viscous liquid.

Anti-subsidy investigation on imports of Aluminium Wire/Wire Rods

June 28, 2021 1161 Views 0 comment Print

Case No. CVD-04/2020 Anti-subsidy investigation concerning imports of Aluminium Wire/Wire Rods above 7mm dia originating in or exported from Malaysia.

Rajasthan VAT: Issues in Processing of Rectification Application

June 28, 2021 2343 Views 0 comment Print

Tax Bar Association, Jodhpur has made a representation on Issues in Processing of Rectification Application, Service of Order of Rectification, Summary Rejection of Rectification Application and Pendency of ITC Mismatch. Representation is been made on 26th June 2021 to Deputy Commissioner (Administration), Jodhpur. Full text of the representation is as follows:- TAX BAR ASSOCIATION JODHPUR […]

Taxation of ESOP Expenditure

June 28, 2021 5985 Views 1 comment Print

Tax Effect of ESOP Expenditure Employee Stock Option Plan (ESOP) is a scheme where a company issues its share to its employees at price lower than its market price with a condition that employees should be in employment or fulfill conditions attached to the scheme. An ESOP is an employee benefit plan that gives employees […]

CAs can play a very worthy & positive role in bringing transparency to economy: PM

June 28, 2021 1863 Views 1 comment Print

Friends, along with Doctors Day, Chartered Accountants Day is also celebrated on the 1st of July. A few years ago, I had asked for global level Indian audit firms as a gift from Chartered Accountants of the country. Today I want to remind them of that.  Chartered Accountants can play a very worthy and positive role in bringing transparency to the economy. I extend my best wishes to all Chartered Accountants and their family members.

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