Time limit to issue notice- One of the major differences between the new and old regime is the time limit of issue of notice, under the earlier regime the time limit for issue of notice was 4 years from the end of the relevant assessment year however in certain circumstances it was 6 and 16 years.
McCANN Erickson (India) Pvt.Ltd. Vs ACIT (ITAT Delhi) we find that the Ld.CIT(A) has relied upon the amendment in the statute. However, the Co-ordinate Bench of this Tribunal after having considered the amendment held in the case of Ashapura Minichem Ltd. vs ADIT 131 TTJ 291 that till 08.05.2010, “the prevailing legal position was that […]
it is concluded that the TPA did not fulfill the Minimum Business Requirements during 2019-20 in any of the parameters as specified under regulation 14 of TPA Regulations, 2016 read with the Minimum Business norms as stipulated under Annexure-11 of Circular Ref: IRDAI/TPA/REG/CIR/130/06/2020 dated 03rdJune 2020. It is also observed that on an average basis […]
It has been decided that if a Term Deposit (TD) matures and proceeds are unpaid, the amount left unclaimed with the bank shall attract rate of interest as applicable to savings account or the contracted rate of interest on the matured TD, whichever is lower.
ALL INDIA COMMON REPRESENTATION SUBJECT – To Increase Government GST Revenue and giving True Benefit of recent Amnesty Scheme SYNOPSIS OF ISSUE – Recently in 43rd GST Council, Government has announced GST Amnesty Scheme for filing Tax Return from July 2017 to April 2021 with reduced late fees of Rs 500 / Rs 1000. However […]
Government of India has approved the extension of Interest Equalization Scheme for Pre and Post Shipment Rupee Export Credit, with the same scope and coverage, for a further period of three months, i.e., up to September 30, 2021. The extension takes effect from July 01, 2021 and ends on September 30, 2021 covering a period of three months.
SEBI solicit views on the proposal to review the following provisions related to Superior Voting Rights Shares (SR shares) framework pertaining to:-i. net-worth requirements of SR shareholder, ii. issuance of SR shares to trusts/ entities on behalf of founders/ promoters, iii. timing of issuance of SR shares.
M/s. Oriental Chamber of Commerce and Industry is enlisted under Appendix 2E of FTP, 2015-2020 for issuing Certificate of Origin (Non-Preferential) vide Public Notice No. 11/2015-2020 | Dated: 1st July, 2021. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of Foreign Trade Udyog Bhawan, New Delhi Public Notice No. 11/2015-2020 […]
i. The Broker was using a website carrying the name ‘renewbuy’ for soliciting insurance business without visibly and clearly displaying Broker’s name on the said website. This is a clear violation of Clause 1 of Schedule VIII under Regulation 22 of IRDA (Insurance Brokers) Regulations) 2013. The Broker has submitted that they had informed the […]
Govt notifies Pension Fund Regulatory and Development Authority (Employees’ Service) (Second Amendment) Regulations, 2021 i.e. PFRDA Employees’ Service (Second Amendment) Regulations, 2021. PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY NOTIFICATION New Delhi, the 1st July, 2021 EMPLOYEES’ SERVICE (SECOND AMENDMENT) REGULATIONS, 2021 No. PFRDA/12/RGL/139/11.—In exercise of the powers conferred by sub-section (2) of section 11 read […]
