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Archive: 23 August 2021

Posts in 23 August 2021

Process Flow for Govt Subscribers Registration through eNPS Govt

August 23, 2021 885 Views 0 comment Print

A large number of Government Sector nodal offices have provided a positive feedback and have made several constructive suggestions. An endeavor has been made by PFRDA to incorporate those suggestions to the extent possible in the interest of Subscribers.

4th Sunset Review Investigation on imports of Polytetrafluoroethylene

August 23, 2021 519 Views 0 comment Print

Case No. ADD-SSR 28/2020 4th Sunset Review Investigation concerning imports of Polytetrafluoroethylene (PTFE) originating in or exported from Russia.

Investigation concerning anti dumping duty on imports of Melamine

August 23, 2021 1356 Views 0 comment Print

Case No. AD-SSR 16/2020 Sunset review investigation concerning anti dumping duty on imports of Melamine from China PR. A new shipper review was conducted, and the final findings notification no. 7/11/2017-DGAD were issued on 19th June 2019. The Ministry of Finance accepted the recommendation and antidumping duty was imposed vide C.N. No. 34 /2019-Customs (ADD) dated 6th September 2019 on the imports from the concerned exporter.

‘Loan to Director’ & ‘Loan from Director’ | Section 179, 180 & 185

August 23, 2021 19371 Views 5 comments Print

Directors of the Company are considered as its trustees. Directors are the trustees of the company’s money and property, and also act as agents in the transaction which they enter into on behalf of the company. The Companies Act, 2013, through its provisions, plays a very important role in keeping position of director intact as […]

AO cannot apply section 14A provisions without examining correctness of workings furnished by assessee

August 23, 2021 912 Views 0 comment Print

Infosys BPM Limited Vs DCIT (ITAT Bangalore) Perusal of the assessment order would show that the AO did not examine the above said computation of the assessee and did not find any fault or error in the above said computation. The AO simply observes that section 14A provides that the expenditure has to be computed […]

Mistakes one should avoid while filing ITR

August 23, 2021 22143 Views 10 comments Print

Most of the Individual taxpayers file their own ITR themselves. Since income tax is a complex law, an ordinary tax payer is bound to commit certain mistakes while filling the ITR forms.  In this article I intend to discuss some of the most common mistake committed by individual taxpayers while filling the ITR and which […]

MoF Summons Infosys CEO to explain Income Tax portal glitches

August 23, 2021 2043 Views 0 comment Print

Ministry of Finance has summoned Sh Salil Parekh, MD & CEO, Infosys on 23/08/2021 to explain to hon’ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not been resolved. In fact,since 21/08/2021 the portal itself is not available. Meanwhile Infosys has made three tweets […]

Wearing of Uniforms by CGST officers – An unwarranted requirement

August 23, 2021 30516 Views 0 comment Print

Are CGST officers required/allowed to wear uniforms? Immediately after GST came into force, on 13.07.2017, a RTI question was asked, Under which Rule of GST or otherwise Central Excise officers are wearing uniform after 01.07.2017?

Key decisions of Supreme Court (week ending 22 August 2021)

August 23, 2021 3003 Views 1 comment Print

Summary of some key decisions of the Hon’ble Supreme Court of India has been provided below. Criminal law No obligation on Officer-in-charge to arrest accused when filing chargesheet nor arrest pre-requisite formality to take chargesheet on record by Magistrate In Siddharth v. State of Uttar Pradesh the Supreme Court has held that an accused is […]

Receipts on sale of software not taxable as royalty

August 23, 2021 1785 Views 0 comment Print

IBM Singapore Pte Ltd. Vs DCIT (ITAT Banglore) As per the decision rendered by Hon’ble Supreme Court in the case of Engineering Analysis Centre of Excellence Pvt. Ltd., sale proceeds received by the assessee on sale of software licenses cannot be categorized as “Royalty” within the meaning of provisions of DTAA. FULL TEXT OF THE […]

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