"22 January 2022" Archive

Intermediary Safe Liability Limitation – reg

No. 13114/2019-e-Commerce 22/02/2021

Section 79 of the IT Act provides for intermediaries to get exemption from liability provided they follow certain due diligence and also if, they are not aware of the information being transmitted through their platform Online market place being Intermediaries also enjoy the same immunity. They are also required to follow other legislatio...

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Companies need to know about SFT Compliance

The Income-tax department requires companies to submit a statement of Specified Financial Transactions (SFT). SFT reporting is mandatory for certain reporting entities from Finance Act 2014 by introducing section 285BA followed by additions made in Finance Act 2020 through notification no. 16/2021, dated 12-03-2021. This article focuses o...

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Department to attend technical glitch issues on Income Tax Portal at the earliest

Southern Gujarat Income Tax Bar Association Vs Union of India (Gujarat High Court)

Southern Gujarat Income Tax Bar Association Vs Union of India (Gujarat High Court) In today’s hearing through Video Conference, Mr. Y.K. Singh, DGIT (Systems) and Mr. Krishnamurthy, Additional Director General of Income Tax, also joined in the discussion. We had the advantage of hearing Mr. Singh as well as Mr. Krishnamurthy. Mr. Singh ...

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Delhi Govt fixes maximum price for RT-PCR COVID19 test at Rs. 300

Conventional RT PCR Test wherein samples are collected by Private lab teams for Government and processed further at their lab and Conventional RT PCR Test wherein individual gives their samples at the Labs/Private Hospitals/Collection facilities for paid testing at their own expense (including all charges-sample collection & testing cost ...

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CGST Act 2017 updated till 01st January 2022- Free E-Book

In this Article Author compiled  CGST Act 2017 with all notification / Acts issued and changes which occurred till Till 01st January 2022 including the chages vide Finance Act, 2021. Books contains all Section of CGST Act 2017 updated with changes till 01st January 2022. Book is Updated by By Ghanshyam Upadhyay and Praveen Upadhyay [&hel...

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Posted Under: Corporate Law |

No penalty for non-transportation of goods within validity of E way bill due to agitation & blocked traffic: SC

Assistant Commissioner (ST) & Ors. Vs Satyam Shivam Papers Pvt. Limited (Supreme Court of India)

SC held that, tax evasion cannot be presumed on mere non-extension of validity of e-way bill by the assessee due to traffic blockage and agitation, for which the Revenue Authority is responsible for not providing smooth passage of traffic. Further, imposed a sum of INR 69,000/- on the Revenue Department towards the cost payable to the ass...

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Cryptocurrency: Tax-man’s Perspective

Ripple started in 2009 when Satoshi Nakamoto (pseudonym) published his research paper titled ‘Bitcoin: A Peer-to-Peer Electronic Cash system’. Abstract explains ‘A peer-to-peer electronic cash system would allow online payments to be sent directly from one party to another without going through a financial institution...

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Nominee and Nomination.. it’s important !

NOMINATION…. WHAT.. WHO.. WHY.. HOW MANY…? Every time you fill up a form for an investment or opening a new bank account, there will be a separate section that will ask you to mention a ‘Nominee’. Even if you are joining the job, the HR will ask you to fill the Nominee Form or if […]...

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Posted Under: Corporate Law |

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