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Advisory for protection of vulnerable sections of society

May 19, 2021 1044 Views 0 comment Print

Government taking cognizance of the impact COVID-19 pandemic may have, particularly, on vulnerable groups, gave high priority to the matter and requested States/ Union Territories to put in place adequate mechanisms for ensuring dedicated support and assistance in a timely manner to such persons.

CS Executive Entrance Test May 2021 result on 20.05.2021

May 18, 2021 381 Views 0 comment Print

The Result of CS Executive Entrance Test (CSEET)held on 8th and 10thMay, 2021 would be declared on Thursday, the 20thMay, 2021at 3:00 PM. The result along with individual candidate’s subject-wise break-up of marks will be made available on the Institute’s website: www.icsi.edu  

Policvbazaar penalised for sending SMS in Violation of IRDAI norms

May 18, 2021 1833 Views 0 comment Print

Regulation 9 of IRDA (Insurance Advertisements and Disclosure) Regulation, 2000 stipulates that every advertisement for insurance shall state the full registered name of the insurer/ intermediary/ insurance agent. Policybazaar did not disclose their name in the SMS sent to policyholders.

Cost for providing parking space to shop owners of Mall allowable

May 18, 2021 2064 Views 0 comment Print

Crown International Vs ACIT (ITAT Delhi)  There is no dispute on the amount as well as of the fact that the adjacent plot was used for parking space by the shop orders. The only reason is that there was no legal obligation on the assessee to provide a parking space to the shop owners and […]

Guidelines for Determining Seniority of Complaints Filed Before Maharera

May 18, 2021 786 Views 0 comment Print

And whereas at present, when a complaint is registered before the MahaRERA, it is scheduled for hearing before the concerned Bench of MahaRERA as per its seniority, which is decided as per the date of registration/filing of the online complaint before the MahaRERA.

Maintenance charges not allowable under the head House Property Income

May 18, 2021 3933 Views 0 comment Print

Rockcastle Property Private Ltd Vs ITO (ITAT Mumbai) As per the provisions of Section 23(1)(b), annual value shall be deemed to be the actual rent received or receivable by the assessee. The proviso provides for deduction of municipal taxes levied by any local authority. As per Explanation, the actual rent received or receivable would not […]

FCRA Account Opening Date Extended

May 18, 2021 2499 Views 0 comment Print

The existing FCRA account holders have now to open the FCRA Account in the New Delhi Main Branch (NDMB) of the State Bank of India, 11 Sansad Marg, New Delhi-110001 up to 30th June, 2021 or earlier. After that date they shall not be eligible to receive FC in any account other than the “FCRA Account” opened in the NDMB.

Weekly Newsletter From Chairman, CBIC Dated 17/05/2021

May 17, 2021 864 Views 0 comment Print

As a part of taxpayer facilitation, we have automated most of our refund/ drawback processes and amounts due to the taxpayers, especially of IGST that get automatically processed and credited without human intervention.

CoWIN website Reflects Change in Dose Interval of Covishield Vaccine

May 17, 2021 681 Views 0 comment Print

CoWIN digital Portal Reconfigured to Reflect Change in Dose Interval of Covishield Vaccine to 12-16 weeks Already Booked Online appointments for 2nd Covishield Dose will remain Valid; NOT being cancelled by COWIN

Addition based on statements recorded by survey team & credible evidence without any retraction are valid

May 17, 2021 1521 Views 0 comment Print

Sanjay Sultania Vs ITO (ITAT Cuttack) CBDT in the circular dated 10.3.2003 (supra) has directed the revenue authorities that if confession not based upon credible evidence, are later retracted by the concerned assesses while filing the returns of income, such confessions do not serve any useful purpose. In the present case,  there was substantial evidence […]

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