Undertaking pursuant to Section 206AB and Section 206CCA of the Income Tax Act, 1961 To, (NAME OF THE BUYER/ SERVICE PROVIDER) Dear Madam/Sir, Subject: Declaration confirming filing of Income Tax Return for immediate two preceding years This is in respect to payments due or payments to be made to us for Financial Year 2021-22 (period […]
All the manufacturers and marketing companies are required to revise the MRP of drugs/formulations on which Tax/GST rates have been reduced taking into effect the revised rates of Tax/GST. Recalling or re-labelling or re-stickering on the label of container or pack of released stocks in the market prior to date of notifications, is not mandatory, if manufacturers are able to ensure price compliance at the retailer level through issuance of a revised price list.
Vishwataj Developers Pvt Ltd Vs ACIT (Madras High Court) Conclusion: In present case, the Hon’ble high court held Writ Jurisdiction under Article 226 cannot be invoked in a routine manner, when dispute pertains to examination of facts and when there is alternative efficacious remedy available. Held: The assessment orders passed under Section 143(3) of the […]
INTRODUCTION Capital market is a market where lenders and borrowers exchange medium or long-term funds. There are various methods by which such funds are raised, the concerned entity may privately raise funds from closed sources (for example: relatives of promoters and friends), from strategic investors (for example venture capital, private equity and angel investors) or […]
Yash Raj Films Pvt. Ltd. Vs ACIT (ITAT Mumbai) Since, ex-parte order has been passed by the learned CIT(A), this is a fit case for remanding the appeal before the learned CIT(A) to give more effective opportunity to the assessee and the assessee is also directed to cooperate with the expeditious disposal of the appeal […]
CBDT notifies ‘317’ as Cost inflation index for Financial Year 2021-22 / Assessment Year 2022-23 vide Notification No. 73/2021-Income Tax | Dated: 15th June, 2021. MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 73/2021-Income Tax | Dated: 15th June, 2021 S.O. 2336(E).— In exercise of the powers conferred […]
Securities Exchange Board of India (‘SEBI’) vide its Circular dated June 15, 2021, has provided relaxation in the provision related to a minimum vesting period of one year in case of Employee Stock Options (“ESOP”) and Stock Appreciation Rights (“SAR”). There is a requirement of a minimum vesting period of one year for ESOP and SAR under […]
The Income Tax Department launched the new completely revamped Income Tax Website 2.0. Now, there is a lot of discussion on the social media whether this update was really required or not or regarding the multiple issues which everyone is facing. The old website was project was proposed in 2006 and launched sometime in 2007. […]
If any person is not able to file its income tax return within due date then as per Section 139(4), the last date for filing Income Tax return for AY 2021-22 is 31st March 2022. Section 139(4) says if you fail to file return within the due date for filing ITR, you can file a […]
1. INTRODUCTION COVID-19 is a serious disease caused by an infection caused by a novel coronavirus that originated in China’s Wuhan province and has now become a global epidemic. Within three months of its initial launch, COVID-19 has spread around the world and is beginning to create negative economic consequences. Indian businesses have also been […]
