"01 October 2021" Archive - Page 2

Income-tax (31st Amendment) Rules, 2021 | Rule 11UE & Rule 11UF

Notification No. 118/2021-Income Tax [G.S.R. 713(E)] 01/10/2021

11UE. Specified conditions under Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9.− (1) For the purposes of clauses (i), (ii) and (iii) of the Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9, the declarant shall furnish an undertak...

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ADD on import of Jute products import from Bangladesh & Nepal extended

Notification No. 58/2021-Customs (ADD) [G.S.R. 712(E)] 01/10/2021

Seeks to extend the levy of ADD on import of Jute products originating in or exported from Bangladesh and Nepal by amending notification No. 01/2027-Customs (ADD) dated 05-01-2017. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 1st October, 2021 Notification No. 58/2021-Customs (ADD) G.S.R. 712(E).—Whereas, the ...

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FSSAI number mandatory on invoice from 1st Oct 2021

FSSAI: Food Businesses To Mention License No. On Invoices W.E.F. 1st October, 2021 Food Safety and Standards Authority of India (FSSAI) passed an order on 8th June, 2021, making it mandatory for food business operators in the country, which are largely micro, small, and mid-sized enterprises, to mention their 14-digit FSSAI license/regist...

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Posted Under: Income Tax |

₹ 1,17,010 crore gross GST revenue collected in September 2021

The gross GST revenue collected in the month of September 2021 is ₹ 1,17,010 crore of which CGST is ₹ 20,578 crore, SGST is ₹ 26,767 crore, IGST is ₹ 60,911 crore (including ₹ 29,555 crore collected on import of goods) and Cess is ₹ 8,754 crore (including ₹ 623 crore collected on import of goods)....

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Posted Under: Income Tax |

Extend time limit for LLP Audit and LLP Filing: ICSI

ICSI Request for extension of time limit for preparing the Statement of Account and Solvency and for getting the accounts audited in LLPs and subsequent filing thereof Institute of Company Secretary of India September 29, 2021 MCA: 2021 Shri Rajesh Verma, IAS Secretary Ministry of Corporate Affairs Government of India Shastri Bhawan Dr. R...

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Posted Under: Income Tax |

Attention Users : E-Way Bill & E-Invoice Downtime

ATTENTION USERS : E-WAY BILL & E-INVOICE DOWNTIME This is to inform to all E Way Bill & E Invoice users that downtime of all the E Way Bill & E Invoice operations (for all modes – Web, API, Bulk, Mobile & SMS) is scheduled between 11:00 PM on 2nd October 2021 to 7:00 AM […]...

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Posted Under: Income Tax |

Does statute bar initiation of proceedings u/s. 263 when an appeal is pending before CIT(A)?

Very recently the Jaipur bench of the Tribunal in the case of Virendra Singh Bhadauriya Vs PCIT while quashing the order of 263 on the footing that there is no indication as to lack of enquiry/no enquiry, rejected the specific contention of the Assessee on jurisdiction of initiation of Section 263 that mere pendency of […]...

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Posted Under: Income Tax |

Whether Depreciation Allowed In Case Vehicle Is Not Registered In The Name of Leasing Company

As per Motor Vehicle Act, 1988 the registration of leased motor vehicle should be in the name of lessee and not the lessor. But in Income Tax Act, 1961 for claiming depreciation of assets, the asset must be owned by the person claiming depreciation....

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Posted Under: Income Tax |

Girls swept top ranks in both old & new courses in CA final exam: ICAI President

This month ICAI released the results of Chartered Accountancy examinations held in July 2021. In a brilliant streak, girls swept the top ranks in both old and new courses in final examinations....

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Posted Under: Income Tax |

Form No. 10AC – Order for Registration for Charitable & Religious Societies/Trusts

The Finance Act, 2020 made overhaul in provisions relating to registration of charitable and religious institution with the Income tax Department. There was complete change in registration process. It is through means of technology. It is one database on pan India basis. The registration once granted shall expire after certain period. Re-...

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Posted Under: Income Tax |

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