"December, 2021" Archive - Page 10

Interest Income cannot be excluded for computing eligible remuneration of Partners

Mac Industries Vs ITO (ITAT Surat)

Mac Industries Vs ITO (ITAT Surat) No disallowance as AO did not get jurisdiction to go behind net profit shown by Profit and Loss Account except adjustments as per Explanation 3 Conclusion: Addition on account of interest incomes to be excluded in the computation of book profits was not justified by AO as per Explanation […]...

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Maharashtra imposes new restrictions at tourist place, marriages & funeral

Notification No: DMU/2020/CR. 92/DisM-1 30/12/2021

GOVERNMENT OF MAHARASHTRA Department of Revenue mid Forest, Disaster Management, Relief and Rehabilitation, Mantralaya, Mumbai- 400 032 No: DMU/2020/CR. 92/DisM-1, date 30th December, 2021 ORDER Reference: (a).The Epidemic Diseases Act. 1897 (b) The Disaster Management Act. 2005 (c) Home Department —circular RLP-1221/Pra.Kra 280/Visha I...

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Periodic Updation of KYC – relaxation extended till 31.03.2022

Notification No. RBI/2021-22/144 DOR.AML.REC.74/14.01.001/2021-22 30/12/2021

Periodic Updation of KYC – Restrictions on Account Operations for Non-compliance - In view of prevalent uncertainty due to new variant of Covid-19, the relaxation provided is hereby extended till March 31, 2022....

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ICSI Mega Placement Drive, 2022

The Institute is striving towards supporting the members by providing appropriate employment opportunities. The Institute is organizing Mega Placement Drives through its regional offices at Mumbai, New Delhi, Kolkata and Chennai for recruitment of Company Secretary(ies) in various Organisations and Firms of Practising Company Secretaries....

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Posted Under: Income Tax |

IRDAI directs discontinuation of ‘DIGIT Group Total Protect Policy’

Ref: IRDAI/HLT/MISC/ORD/312/12/2021 30/12/2021

M/s Go Digit General Insurance Limited to discontinue the product DIGIT Group Total Protect Policy allotted UIN GODPAGP22103V032122 which is not compliant with Section 3(1) of Insurance Act, 1938 with immediate effect....

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TDS on income accrued outside the territory for services rendered

PCIT Vs EIH Ltd. (Calcutta High Court)

Tribunal held the addition to be erroneous and has considered in detail the nature and expenses in respect of which the assessee was sought to be penalized for not deducting the tax deducted at sources, holding that these expenses were in respect of the income accrued outside the territory for services rendered. With this finding the said...

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Duty cannot be demanded for mere shifting of goods to another premise by 100% EOU-importer

Power Weave Software Services P. Ltd. Vs Commissioner of Central Excise (CESTAT Mumbai)

Power Weave Software Services P. Ltd. Vs Commissioner of Central Excise (CESTAT Mumbai) The appellant is in appeal against the impugned order wherein duty has been demanded from the appellant for import of the goods being 100% EOU, who obtained permission from Software Technology Parks of India (STPI in short) and goods were also liable [...

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Customs officials detect around 1 kg of cocaine

Customs officials detect around 1 kg of cocaine ingested as pellets by passenger at IGI Airport, one arrested In a display of tremendous alacrity, the Customs officers at Indira Gandhi International Airport (IGIA), New Delhi, unravelled yet another case of cocaine smuggling by detecting a case of human ingestion of specially designed pell...

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Posted Under: Income Tax |

CBIC Notifies Rate of Exchange of Turkish Lira wef 31.12.2021

Notification No. 106 /2021 - Customs (N.T.) 30/12/2021

CBIC notifies Rate of Exchange of Turkish Lira against Indian Rupees with effect from 31st December, 2021 vide Notification No. 106/2021-Customs (N.T.) | Dated: 30th December, 2021. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 106 /2021 – Custom...

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IRDAI releases 2021-22 List of Domestic Systemically Important Insurers

Domestic Systemically Important Insurers (D-SIIs) refer to insurers of such size, market importance and domestic and global inter connectedness, whose distress or failure would cause a significant dislocation in the domestic financial system. Therefore, the continued functioning of D-SIIs is critical for the uninterrupted availability of ...

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Posted Under: Income Tax |

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