"05 July 2021" Archive

CBDT allows manual filing of Form 15CA/15CB till 15.07.2021

Release ID: 1732843 05/07/2021

In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.gov.in, It has now been decided to extend the aforesaid date to 15th July 2021. Ministry of Finance CBDT grants further relaxation in electronic filing of Income Tax Forms 15CA/15CB Posted On: 05 JUL 2021 As [&h...

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Iron scrap supply under invoices of bogus firms detected

D.O.No.77/CH(IC)/2020 05/07/2021

On the GST front, by innovating and using the recently introduced `RFID-Vehicle related Report', an analysis of risky vehicles was undertaken by the officers of DGGI (SZU). The verification revealed that iron scrap was being supplied by existent but un-registered firms under the invoices for GST ITC of non-existent and bogus firms. Envelo...

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Technical glitches at transition stage to GST should not affect statutory right of dealers

Union Of India Vs Merchem India Pvt. Ltd (Kerala High Court)

Union Of India Vs Merchem India Pvt. Ltd (Kerala High Court) It is significant to note that the statute does not provide for any provision for lapsing of unutilized input tax credit for non filing of TRAN-1. The input tax credit is required by law to be credited to the electronic credit ledger of an […]...

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Master Circular for Stock Exchange & Clearing Corporations

Master Circular No. SEBI/HO/MRD2/MRD2_DCAP/P/CIR/2021/0000000591 05/07/2021

Securities and Exchange Board of India MASTER CIRCULAR SEBI/HO/MRD2/MRD2_DCAP/P/CIR/2021/0000000591 July 5, 2021 To, All Recognized Stock Exchanges All Recognized Clearing Corporations Dear Sir/Madam, Sub: Master Circular for Stock Exchange and Clearing Corporations 1. SEBI, from time to time, has been issuing various circulars/directions...

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SEBI SOP for handling of technical glitches by MIIs

SEBI/HO/MRD1/DTCS/CIR/P/202 05/07/2021

SEBI releases Standard Operating Procedure for handling of technical glitches by Market Infrastructure Institutions (MIIs) and payment of Financial Disincentives thereof...

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Issue of No Objection Certificate for release of 1% of Issue amount

Circular No. SEBI/HO/OIAE/IGRD/CIR/P/2021/588 05/07/2021

SEBI decided to reduce the time period after listing for submitting the application to 2 months from the existing period of 4 months as stated in above mentioned circular. The same is subject to the condition that all issue related complaints have been resolved by the merchant banker/ issuer....

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How to appear for CSEET through Remote Proctored mode

CSEET (CS Executive Entrance Test) to be held on 10th July 2021 is being held online through Remote Proctoring Mode. Detailed instructions regarding the same have already been sent to the candidates by Email and are also available at Admit Card....

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Posted Under: Income Tax |

Reassessment vitiated if required procedure not been followed

Sh. Chand Singh Vs DCIT (ITAT Delhi)

Sh. Chand Singh Vs DCIT (ITAT Delhi) n the present case it is an undisputed fact that there was a failure by the AO to comply with the mandatory requirement of disposing of the objections raised by the assessee to the reopening of assessment in terms of the law laid down by the Hon’ble Supreme […]...

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Interest Rate on GPF & other similar funds w.e.f. 1st July, 2021

F. No. 5(4)-B(PD)/2021 05/07/2021

Rate of Interest on General Provident Fund (GPF) and other similar funds for Q2 of FY 2021-22 – General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st July, 2021 to 30th September, 2021. This rate will be in force w.e.f. 1st July, 2021. […]...

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Submission of Statement of Financial Transactions for Interest Income-Reg.

SB Order No. 18/2021 05/07/2021

In continuation to the SB Order No. 01/2017 dated 29.03.2017, the undersigned is directed to inform that Government of India, Ministry of Finance, (Dept. of Revenue, CBDT) vide Notification dated 12.03.2021 issued vide GSR 175(E), has inserted the following sub rule in Rule 114E of Income Tax Rules, 1962....

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