Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10B for Assessment Year 2018-19 and subsequent years–Circular No. 2/2020-Income Tax Dated 3rd January, 2020. Circular No. 02/2020-Income Tax F.No.197/55/2018-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, the 3 […]
For the convenience of Micro & Small Enterprises (MSEs), we have now integrated the `MSME Samadhaan’ portal with the `Information Utility (IU)’ of National e-Governance Services Ltd. (NeSL) enabling following steps.
In order to further strengthen the rating process of the CRAs with regard to ‘Issuer not cooperating’ (INC) ratings, following directions are being issued: a. If an issuer has all the outstanding ratings as non-cooperative for more than 6 months, then the CRA shall downgrade the rating assigned to the instrument of such issuer to non-investment grade with INC status. If non-cooperation by the issuer continues for further six months from the date of downgrade to non-investment grade, no CRA shall assign any new ratings to such issuer until the issuer resumes cooperation or the rating is withdrawn.
SEBI amends provisions of guidelines pertaining to Core Settlement Guarantee Fund and Default Waterfall for Clearing Corporations- It amends clauses related to Further Contribution to/ Recoupment of Core SGF and Capped additional contribution by non-defaulting members of the segment. Circular No. SEBI/HO/MRD2/DCAP/CIR/P/2020/01 Dated: January 03, 2020 Securities and Exchange Board of India CIRCULAR SEBI/HO/MRD2/DCAP/CIR/P/2020/01 January […]
The CASS Committee has been re-constituted under Chairmanship of Director General of Income Tax (Risk Assessment) {DGIT (RA)} as under:
The gross GST revenue collected in the month of December, 2019 is ₹ 1,03,184 crore of which CGST is ₹ 19,962 crore, SGST is ₹ 26,792 crore, IGST is ₹ 48,099 crore (including ₹ 21,295 crore collected on imports) and Cess is ₹ 8,331 crore (including ₹ 847crore collected on imports). The total number of GSTR 3B Returns filed for the month of November up to 31stDecember, 2019 is 81.21 lakh.
Punjab Tax Bar Association has made few suggestions by way of Memorandum to Hon’ble Finance Minister with respect to Union Budget, 2020 which is likely to be tabled in the Parliament on 1st Feb, 2020. Relevant Text is as follows:- P T B A PUNJAB TAX BAR ASSOCIATION (A SYMBOL OF BARS UNITY) President : […]
Exposure Draft of Conceptual Framework for Financial Reporting under Indian Accounting Standards (Ind AS) for comments In India, the ICAI had issued a pronouncement with the title ‘Framework for the Preparation and Presentation of Financial Statements in accordance with Indian Accounting Standards’ (Framework). This Framework is primarily based on the old Conceptual Framework issued by IASB’s predecessor body […]
6 APA – ITC (HS) Code No. 29411050, is removed from Appendix 4J of HBP, and from point no. 15 under general notes for Chemical and Allied Products of Standard Input Output Norms (SION) under Hand Book of Procedures Volume 2 of 2015-2020. Public Notice No. 62/2016 dt. 24.03.2017 also stands amended, to that extent. […]
Public Provident Fund ( PPF) was initially introduced in India in 1968, which is now overruled by the new scheme introduced by Central Government on 12th December, 2019 i.e Public Provident Fund Scheme, 2019 vide notification No. G.S.R. 915(E). As we all aware that the Public Provident Fund (PPF) is considered as most important and […]
