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Archive: 29 June 2021

Posts in 29 June 2021

HSN code on exempt goods/services and composition Dealer

June 29, 2021 9462 Views 2 comments Print

Dear Friends, Nowadays it’s a big question that HSN/SAC code will be applicable on Exempt Goods / services, Composition registered person. Let’s Discuss this Situation with the provision of Law. Provision of Law Notification No. 78/2020-Center tax Dated: 15/10/2020 Notification No. 12/2017- Central Tax Dated: 28/06/2017 According to Notification No. 78/2020-Center tax Dated : 15/10/2020 […]

Title to lands & buildings could not pass till conveyance deed was executed

June 29, 2021 2820 Views 2 comments Print

The entries in the account books of the vendor and the vendee are not relevant for the purpose of determining whether a sale of immovable property had taken place. Its was too well settled that the litle to lands and buildings could not pass till a conveyance deed was executed and duly registered. The assessee […]

Advisory on implementation of prompt actions for COVID-19 management

June 29, 2021 528 Views 0 comment Print

All the District Magistrates shall strictly enforce the above measures. For the enforcement of social distancing, State/ UT Governments may, as far as possible, use the provisions of Section 144 of the Criminal Procedure Code (CrPC) of 1973.

Pendency of similar matters not a ground to against Negligence in filing appeal

June 29, 2021 342 Views 0 comment Print

Merely because similar matters are pending is not a ground to grant leave and take the matter when the authorities have been negligent in filing the appeal. We have repeatedly emphasized that unless the case is brought within the parameters of Chief Post Master General & Ors. v. Living Media India Ltd. & Anr. –(2012) 3 SCC 563, we would not be inclined to condone the delay and have in fact dismissed the special leave petitions with cost categorizing them as “certificate cases” only brought before the Court to complete a formality and save the skin of the officers concerned.

FSSAI Extension: Annual Return and Renewal

June 29, 2021 3627 Views 0 comment Print

The Food Safety and Standards Authority of India (FSSAI) vide its Order dated 23rd June, 2021 [File No. 15(6)2020/FLRS/RCD/FSSAI] has passed the following decisions: Extension of various relaxations granted vide Order dated 20th April, 2021: The FSSAI has extended the following relaxations up to 31th August, 2021: – Submission of annual return through FoSCoS. – […]

An In-Depth analysis of Section 194Q, Sections 206AB & 206CCA

June 29, 2021 9969 Views 0 comment Print

The Article is meant to have a deep insight into the Provisions of Section 194Q vis a vis Section 206AB and Section  206CCA read with  Sub Section (1H) of Section 206C of the Income Tax Act, 1961. The author has made a humble attempt to touch the relevant topics on the subject. But since the […]

RBI Imposes Penalty on Four Banks

June 29, 2021 738 Views 0 comment Print

RBI imposes monetary penalty on The Ahmedabad Mercantile Co-operative Bank Ltd., Ahmedabad, Andhra Pradesh Mahesh Co-operative Urban Bank Ltd., Hyderabad, Saraswat Co-operative Bank Ltd., Mumbai, and SVC Co-operative Bank Ltd., Mumbai. Text of the relevant press Releases are as follows:- Reserve Bank of India RBI imposes monetary penalty on The Ahmedabad Mercantile Co-operative Bank Ltd., […]

Guidance Note on Analyst/Institutional Investors meet

June 29, 2021 3186 Views 0 comment Print

One of amendments include enhanced disclosure requirement w.r.t. point 15 of para A of Part A of Schedule III on LODR Regulations. Many companies have sought clarity on this amendment. Thus, the Exchange in consultation with SEBI is providing clarification on the below points:

CBDT designates www.incometax.gov.in website for Faceless Penalty Scheme

June 29, 2021 951 Views 0 comment Print

CBDT Order designating web portal www.incometax.gov.in as the ‘designated portal’ for the purpose of Faceless Penalty Scheme National Faceless Assessment Centre, Delhi 2nd Floor, E-Ramp Jawaharlal Nehru Stadium, Delhi-110003 Phone No: 011-24360103 F. No. CIT (NaFAC)-1/2021-22/204 Dated: 29.06.2021 Order I am directed to hereby designate the web portal www.incometax.gov.in as the “designated portal” for the […]

CBDT designates www.incometax.gov.in website for Faceless Assessment Scheme

June 29, 2021 1146 Views 1 comment Print

CBDT Order designating web portal www.incometax.gov.in as the designated portal for the purpose of Income Tax Faceless Assessment Scheme

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