In view of liquidity strains imposed on Mutual Funds by Covid-19 global pandemic, RBI has announced Rs 50000 crore Special Liquidity Facility for Mutual Funds (SLF- MF).
(Excerpt from the Email sent by Sanjay Sapre, President, Franklin Templeton Asset Management (India) Pvt. Ltd. to investors) Dear Investor, I am personally writing to you today, to address some immediate concerns created by some well-intentioned but factually incorrect reporting across various media channels. Let me provide some clarifications point by point: 1: Reported: Winding […]
Service fees and membership & subscription fees were incurred for the purpose of business and to set up a transaction meant for overseas capital market, therefore, this expenditure could be treated preliminary expenditure for the purpose of business.
There can be no manner of doubt that any citizen of the country can criticise the judgments delivered by any Court including this Court. However, no party has the right to attribute motives to a Judge or to question the bona fides of the Judge or to raise questions with regard to the competence of the Judge.
Fake news on WhatsApp claims Government giving Rs 1000 under Corona Sahayata Yojana Fact Check Unit of Press Information Bureau has today clarified in a tweet that Government of India is not giving Rs 1000 to anybody under the so called Corona Sahayata Yojana scheme. This tweet was in response to a widely circulating message […]
Shalki Bansal Charitable/religious trusts are the trusts which are formed with an objective of providing relief to poor, education, medical relief, preservation of environment/ monuments , advancement of objects of general public utility, religious purpose, etc. There taxation has always been a point of concern. The entire income of such trust (be it house property, […]
We all are aware that whenever we login into our Income Tax Account, at that time we get an auto pop up to update our contact details and if the contact details are already updated then we get the message of update address details. With general human tendency we usually read those message and just […]
Alert for taxpayers about non-eligibility of certain Commodities, for opting for composition, while filing Form GST REG 01 & Form GST CMP 02 or filing any non-core amendment related to option for composition. Taxpayers opting for composition and engaged in manufacturing of commodities, will be shown an alert, if they are manufacturer of certain commodities […]
Extension for submission of LUT for 2020-21 Notification No. 37/2017-Central Tax, dated 04.10.2017, requires LUT to be furnished for a financial year. However, in terms of notification No. 35/2020-Central Tax dated 03.04.2020, where the requirement under the GST Law for furnishing of any report, document, return, statement or such other record falls during between the […]
Income Tax Circular No. 10/2020-Income -Regarding reporting requirement under clause 30C and clause 44 of the Form 3CD defers GST & GAAR Reporting in amended Income Tax Audit Report amidst Covid-19. Income Tax Circular No. 10/2020 F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division **** […]
