M/s. Sivamurugan Chit Fund (P) Limited Vs Commissioner of G.S.T. and Central Excise (CESTAT Chennai) There is no doubt that Section 11B ibid. prescribes the period of limitation for filing the refund claim, but admittedly here, the application for refund was filed on 19.01.2018; the date of the judgement of the Hon’ble Supreme Court is […]
Bombay Chartered Accountant’s Society has made a representation to CBDT Chairman and draw his attention towards the difficulties faced, in recent times, by resident taxpayers, in claiming Foreign Tax Credit (FTC) for their income abroad, while filing their return of Income in India. Full Text of their representation is as follows:- Bombay Chartered Accountant’s Society […]
With a view to further enhancing ‘ease of doing banking business’, the Authority is hereby issuing the IFSCA Banking Handbook (`Handbook’) which will act as a compendium of all the detailed directions of the Authority to the IBUs operating in GIFT IFSC and to the Banking Companies incorporated in India or outside India looking to set up an IBU as a branch in GIFT
Both in case of non-revenue bearing amendments like correcting any spelling mistakes, LCL/FCL, change in Container No. etc. or revenue bearing amendments, the Assessing Groups shall not call for physical documents, and amendment approval should be decided on the basis of supporting documents uploaded on E-sanchit.
M/s. Vaghasiya Exports Vs Pr. CIT (ITAT Mumbai) Ld. AO was clinched with the issue of suspicious purchases made by the assessee from various entities of tainted group. In fact, it is the only addition made in the assessment order. Specific queries were raised requiring the assessee to substantiate the purchases under suspicion. The assessee […]
It has been observed that Indian banking customers are being targeted by a new type of phishing attack using ngrok platform. The malicious actors have abused the ngrok platform to host phishing websites impersonating internet banking portals of Indian banks.
Explore the penalty imposed on Malwa Remedies Pvt Ltd for violating Section 12 of Companies Act. Detailed analysis, implications & appeal process provided.
Advisory on GSTR1 Filing (11th August 2021) Currently, the Taxpayers are seeing the below statuses for GSTR1, after uploading of JSON file from the of Tool: 1. Processed with Error or 2. In Progress This is due to the fact that many offline utilities used by Taxpayers are not filling the Table 12-HSN wise summary […]
Where the Company has traded or invested in Crypto currency or Virtual Currency during the financial year, the following shall be disclosed:- a. profit or loss on transactions involving Crypto currency or Virtual Currency b. amount of currency held as at the reporting date, c. deposits or advances from any person for the purpose of trading or investing in Crypto Currency/virtual currency.
Vide Notification No. 91/2021-Income Tax | Dated: 10th August, 2021 CBDT establishes 7 Interim Boards for Settlement Headquartered at Delhi, Kolkata, Mumbai and Chennai. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 91/2021-Income Tax | Dated: 10th August, 2021 the S.O. 3216 (E).—In pursuance of the powers conferred […]
