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Rule 9(1A) of PML (Maintenance of Records) Rules, 2005 not applicable to FPI

January 4, 2022 4944 Views 0 comment Print

Govt notifies that Rule 9(1A) of Prevention of Money-laundering (PML) (Maintenance of Records) Rules, 2005 shall not be applicable to Foreign Portfolio Investor (FPI) MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 4th January, 2022 G.S.R. 5(E).—In exercise of the powers conferred by sub-clause (i) of clause (h) of sub-rule (2) of rule […]

Govt Permits ‘PNB Housing Finance’ to Perform Aadhaar authentication

January 4, 2022 942 Views 0 comment Print

Govt Permits ‘PNB Housing Finance Limited’ to perform authentication under the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 for the purposes of section 11A of the Prevention of Money-laundering Act, 2002. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 4th January, 2022 S.O. 37(E).—In exercise of the […]

Delhi imposes Weekend Curfew on movement of individuals in NCT of Delhi

January 4, 2022 12750 Views 0 comment Print

There shall be Weekend Curfew on movement of individuals in NCT of Delhi from 10 PM of Friday till 5 AM of subsequent Monday. Transportation by Delhi Metro shall be allowed with 100% of the seating capacity. Standing passengers are not allowed.

Guidelines on Remuneration of Directors & CEO of Insurance companies

January 3, 2022 3072 Views 0 comment Print

The Guidelines cover the remuneration of Non-Executive Directors, CEOs /WTDs /MDs of private sector insurers including the format in which remuneration details are required to be submitted to the Authority.

CBIC Notifies Rate of Exchange of Turkish Lira wef 04.01.2022

January 3, 2022 1005 Views 0 comment Print

CBIC notifies Rate of Exchange of Turkish Lira against Indian Rupees with effect from 4th January, 2022 vide Notification No. 01/2022 – Customs (N.T.) | Dated: 3rd January, 2022. GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) (CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS) ***** Notification No. 01/2022 – Customs (N.T.) New Delhi, dated […]

LIC IPO: Policyholders asked to update PAN

January 3, 2022 2076 Views 0 comment Print

In order to participate in any such public offering by LIC, policyholders will need to ensure that their PAN details are updated in the Corporation’s records. Further, subscribing to any public offering in India is only possible if you have a valid DEMAT account —accordingly, policyholders should ensure that they have an active DEMAT account in place.

Addition for belated payment of PF/ESI prior to amendment by Finance Act, 2021

December 28, 2021 3303 Views 0 comment Print

Ridhi Sidhi Mills (India) Pvt. Ltd. Vs DCIT (ITAT Jodhpur) In the present cases, it is not in dispute that the assessees deposited the contribution of PF & ESI belated in terms of section 36(1)(va) of the Act, however, the said deposits were made prior to filing of return of income u/s 139(1) of the […]

ITAT deletes Addition for delayed payment of ESI/EPF as paid before due date of ITR filing

December 28, 2021 1359 Views 0 comment Print

Express Roadway P. Ltd. Vs ACIT (ITAT Delhi) The issue in the present ground is with respect to addition made on account of delayed payment of ESI/EPF. We find that CIT(A) while deciding the issue in favour of the assessee has given a finding that though there was delay in deposit of ESI & EPF […]

Section 36(1)(va)/43B amended by Finance Act 2021 applicable from 01.04.2021

December 26, 2021 5226 Views 0 comment Print

Pee Tee Turners Vs Assistant Director of CPC (ITAT Jaipur) In the instant case, admittedly and undisputedly, the employees’ contribution to ESI and PF collected by the assessee from its employees have been deposited well before the due date of filing of return of income u/s 139(1) – D/R has referred to the explanation to […]

HC stays assessment order passed without passing a draft assessment order

December 26, 2021 888 Views 0 comment Print

The claim of the petitioner is that the impugned assessment order dated 21.04.2021 has been passed, without adherence to the statutory provisions contained in clauses (xiv) to (xvi) of Section 144B (1), and 144B (9) of the Income Tax Act, 1961

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