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Ceiling of Rs. 5 Lakh on subscription to GPF in a financial year

October 16, 2022 2409 Views 1 comment Print

Monthly subscription by a subscriber under GPF during a financial years together with amount of arrear subscriptions deposited shall not exceed Rupees Five Lakh

Seatbelt Compulsory for Motor Vehicle Drivers & Commuters in Mumbai from 01.11.2021

October 15, 2022 12405 Views 0 comment Print

All Mumbai City motor vehicle drivers and commuters, it will be mandatory to wear seat belts while traveling from 01/11/2022.

Section 54 exemption cannot be denied merely for purchase of property in Joint name

October 14, 2022 8775 Views 0 comment Print

Kamlesh Keswani Vs ACIT (Delhi High Court) HC held that petitioner is entitled to claim exemption under Section 54 of the Act on these admitted facts, as the conditions stipulated in Section 54 stand fulfilled. The New Property would be treated as the property purchased by the petitioner in his name and merely because he […]

ITAT directs CIT(A) to decide appeal on merits observing principle of natural justice

October 14, 2022 498 Views 0 comment Print

Toshiba JSW Power Systems Private Limited Vs DCIT (ITAT Chennai) The AO had held that payment made by the assessee to non-resident towards cost of salary of seconded employees is fees for technical services as per section 9(1)(vii) of the Act and also as per Article 12(4) of India & Japan DTAA and held to […]

CBDT notifies Norges Bank as sovereign wealth fund U/s. 10(23FE)

October 14, 2022 732 Views 0 comment Print

CBDT notifies sovereign wealth fund, namely, Norges Bank On Account Of The Government Pension Fund Global  vide Notification No. 115/2022-Income Tax | Dated: 14th October, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 115/2022-Income Tax | Dated: 14th October, 2022 S.O. 4893(E).—In exercise of powers conferred by […]

Procedure to apply for Permission for Export of broken rice under quota

October 14, 2022 2394 Views 0 comment Print

Export of broken rice under HS Code 1006 40 00 of Chapter 10 of ITC (HS), 2018, Schedule — II (Export Policy) will be allowed for the period up to 31st March, 2023, for the year 2022-23.

IRDAI penalises Axis Bank for Making undue gains in share transactions

October 14, 2022 1146 Views 0 comment Print

Charge of Not complying with the directions issued by the IRDAI against Axis Bank Limited. Decision: The corporate agent Axis Bank Ltd has not complied with the directions issued by the Authority vide letters dated 28th January, 2021, and dated 5th February, 2016. Therefore, a penalty of Rs 1 crore (Rupees One Crore only) is […]

Aspects related to Social Stock Exchange Governing Council

October 13, 2022 891 Views 0 comment Print

Securities and Exchange Board of India  Circular No. SEBI/HO/MRD/MRD-RAC-2/P/CIR/2022/141 | Dated: October 13, 2022 To All Recognized Stock Exchanges Dear Sir / Madam, Sub: Governing Council for Social Stock Exchange (“SSE”) 1. Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“ICDR Regulations”), Securities and Exchange Board of India (Listing Obligations […]

CBDT notifies Ontario Limited as pension fund – section 10(23FE)

October 13, 2022 477 Views 0 comment Print

CBDT notifies Ontario Limited as pension fund – section 10(23FE) vide Notification No. 114/2022-Income Tax | Dated: 13th October, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 114/2022-Income Tax | Dated: 13th October, 2022 S.O. 4872(E).—In exercise of powers conferred by sub-clause (iv) of clause (c) of […]

CBDT notifies jurisdiction of CIT(A) under Faceless Appeal Scheme, 2021 

October 13, 2022 10233 Views 0 comment Print

CBDT notifies jurisdiction of CIT(A) under Faceless Appeal Scheme, 2021  vide Notification No. 113/2022-Income Tax  Dated: 13th October, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 113/2022-Income Tax  Dated: 13th October, 2022 S.O. 4873(E).— In exercise of the powers conferred by sub-sections (1) and (2) of section 120 […]

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