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Amendment in Export Policy of Personal Protection Equipment / Masks

January 31, 2020 5265 Views 0 comment Print

Export of all varieties of personal protection equipment including Clothing and Masks used to protect the wearer from air borne particles and/or any other respiratory masks or any other personal protective clothing Including Coveralls (Class 2/3/4) and N95 masks] under the above mentioned ITC HS Codes is hereby ‘Prohibited’ with immediate effect till further orders […]

ICAI offers its infrastructure to Income Tax Appellate Tribunal (ITAT)

January 31, 2020 1146 Views 0 comment Print

ICAI has extended the facility of using ICAI infrastructure for conducting hearings of ITAT at some of ICAI branches & offices across the country including Srinagar & Ladakh.

BSE can exercise its Right of Lien over Security Deposits of member

January 30, 2020 933 Views 0 comment Print

Stock Exchange Bombay Vs Varughese P. Danial (Bombay High Court) So far as the prohibitory orders were issued by the Income Tax Department in respect of security deposit of the defaulting card holder is concerned, any amount in excess after meeting it’s liabilities should be handed over to the Income Tax Department. This is so […]

Unit in Free Trade Warehousing zone exempt from service tax on export

January 30, 2020 8085 Views 0 comment Print

M/s Broekman Logistics India) Pvt Ltd. Vs Commissioner of GST & CE  (CESTAT Chennai) Appellant is authorized to carry out the operations by setting up a unit in the FTWZ zone. They have been rendering Storage and Warehousing services predominantly to foreign customers. On the charges collected for services rendered to Indian customers, the appellants […]

How You Can Correctly File Your Personal Income Tax Returns in India

January 30, 2020 13048 Views 7 comments Print

July 31st is the last date in every year for filing one’s income tax returns for both resident and non-resident salary receiving individuals and also for people who are partners in firms with turnovers of less than an amount of Rs.1 Crore. Thus this is indeed a taxing process, and you can learn more about it as you keep reading on!

Govt appoints M. Ajit Kumar as new CBIC Chairman two day before Budget

January 30, 2020 1251 Views 0 comment Print

The Appointments Committee of the Cabinet (ACC) has approved the appointment of Shri M. Ajit Kumar IRS(C&CE:84) as Chairman Central Board of Indirect Taxes and Customs (CBIC)

How does your health care expenses become eligible for tax deductions?

January 30, 2020 7760 Views 1 comment Print

Section 80D intricately defines the eligibility criteria for the health care expenses that are considered under the purview of the Income Tax Act. Since health care costs may differ from person to person, section 80D has different tax deductions on the basis of different health care costs.

Misclassification of goods under ‘Others’ category at the time of Import- reg

January 29, 2020 1491 Views 0 comment Print

Vide Trade Notice No. 46/2019 dated 17.01.2020 members of the Trade and Industry were advised to suggest appropriate HS codes for goods they are importing under ‘Others’ category where the existing HS codes are not sufficient.

CBDT notifies Institute of Pesticide Formulation Technology Gurugram u/s 35(1)(ii)

January 28, 2020 627 Views 0 comment Print

CBDT notifies Institute of Pesticide Formulation Technology Gurugram under section 35(1)(ii) vide Notification No. 07/2020-Income Tax dated 28th January, 2020.

Notification No. 5/2020-Customs (N.T./CAA/DRI) dated 27.01.2020

January 27, 2020 192 Views 0 comment Print

Notification No. 5/2020-Customs (N.T./CAA/DRI) dated 27th January, 2020- Appointment of CAA by DGRI Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes and Customs Directorate of Revenue Intelligence Notification No. 5/2020-Customs (N.T./CAA/DRI) New Delhi, dated 27th January, 2020 S.O. (E). – In pursuance of notification No. 60/2015-Customs (N.T.), published vide […]

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