"04 April 2022" Archive

CBDT notifies 4 Countries under section 89A of Income-tax Act, 1961

Notification No. 25/2022- Income Tax [S.O. 1568(E).] 04/04/2022

CBDT notifies Canada, United Kingdom of Great Britain, Northern Ireland and United States of America under section 89A of the Income-tax Act, 1961 vide Notification No. 25/2022- Income Tax Dated: 4th April, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 25/2022- Income Tax New Delhi, t...

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IBBI directs IP to be extra careful while conducting processes under IBC 2016

Order No. IBBI/DC/86/2022 04/04/2022

With regard to the first issue relating to settlement of claims of workmen/employees, the DC notes the submission of Mr. Kohli that the Settlement Agreement between him and the Workmen Union was entered into on the advice of the stakeholders, i.e., the secured creditors for early completion of Liquidation Process and he did not distribute...

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CBIC working towards automating the GST Return scrutiny process

DO No. 18/CH(IC)/2021 04/04/2022

With a view towards enhancing compliance through effective & standardized scrutiny of GST returns, the Board has been working towards automating the scrutiny process. Last week, the first tranche of GSTINs selected for scrutiny, on the basis of risk parameters, were shared by the Directorate General of Analytics and Risk Management with f...

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Foreign Assets And Liabilities Return

Companies these days are more involved in foreign investments in order to expand their businesses in international market. Infact, foreign direct investments has become a major monetary source for economic development in India. Therefore, RBI introduced the concept of FOREIGN ASSETS AND LIABILITIES (FLA) RETURN in order to keep the track ...

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Posted Under: Income Tax |

Representation of Customs Chennai-II against Advance Ruling dated 31.03.2017

In re M/s Isha Exim (CAAR Delhi)

In re M/s Isha Exim (CAAR Delhi) M/s Isha Exim, P-586, Block-N, New Alipur, Kolkata. West Bengal-700053, an applicant having IEC number 0214014525 had filed an application dated 05.05.2016. seeking advance ruling under section 28-H of the Customs Act, 1962 before the Authority for Advance Rulings (Central Excise, Customs and Service Tax),...

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Posted Under: Income Tax | |

FAQs on e-Invoicing under GST

How do I know whether I am suppose to register invoices? Ans. You can visit e-Invoice portal to check whether you have been enabled to register invoices based on the filings of previous years....

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Posted Under: Income Tax |

ICSI Suggested Format of Compliance Certificate under SEBI ICDR Regulations

SUGGESTED FORMAT  COMPLIANCE CERTIFICATE (Pursuant to Regulation 163(2), Part III of Chapter V of the SEBI (Issue of Capital and  Disclosure Requirements) Regulations 2018 including any amendment/modification thereof) To The Board of Directors ___________________ (Name of the Company) ____________________ (Address) I/We___________ , Pr...

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Posted Under: Income Tax |

Recent Updates In GST till 03rd April 2022

We have moved to a new financial year, 2022-23 from 01.04.2022, an yet another necessary migration every year. The last fiscal 2021-22 was not so good but if we look at the Covid pandemic, it was already there with two variants or waves hitting India, former being more severe, former being more severe. It crippled […]...

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Posted Under: Income Tax | ,

Greenlight to NBFC For Producing Credit Cards?

Until now, Non-Banking Financing Companies (NBFCs) had only been permitted to issue co-branded credit cards. According to certain sources, the RBI may enable non-bank financial institutions (NBFIs) to issue credit cards. According to sources, the RBI is in talks with NBFCs about allowing a handful of them to issue credit cards on their ow...

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Posted Under: Income Tax |

Maharashtra settlement of arrears of Tax, Interest, Penalty, or late fees scheme

Maharashtra Government has introduced Maharashtra settlement of arrears of Tax, Interest, Penalty, or late fees scheme 2022 in the L.A. BILL No. IX of 2022 to settle old disputes. Considering the same, the government has introduced an disputes between Maharashtra government and taxpayers....

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Posted Under: Income Tax |

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February 2023