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Order deleting section 68 additions after elaborate factual exercise is valid

June 11, 2022 510 Views 0 comment Print

PCIT Vs Anmol Stainless Pvt. Ltd. (Calcutta High Court) We find from the order passed by the tribunal that the assessing officer has complied with the direction issued by the CIT(A) and has given effect to the order and no adverse finding has been recorded by the assessing officer and accordingly the addition was deleted. […]

Use & file (U&F) procedure for life insurance products & riders

June 10, 2022 2517 Views 0 comment Print

In its continuous endeavor towards the reform agenda taken up towards having a fully insured India, Insurance Regulatory and Development Authority of India (IRDAI) has extended the ‘Use and File’ procedure for most of the Life Insurance products. This means now the life insurance companies can also launch these products without prior approval of IRDAI. […]

PMC bank merger with Unity Small Finance Bank – Provisioning on interbank exposure & valuation of PNCPS & Equity Warrants

June 10, 2022 1578 Views 0 comment Print

Punjab and Maharashtra Co-operative Bank Limited (Amalgamation with Unity Small Finance Bank Limited) Scheme, 2022 – Provisioning on interbank exposure and valuation of Perpetual Non-Cumulative Preference Shares (PNCPS) and Equity Warrants

Notification No. 60/2022-Income Tax – Control of income-tax authorities

June 10, 2022 1344 Views 0 comment Print

Notification No. 60/2022-Income Tax, Dated: 10.06.2022 – Control of income-tax authorities. Also Read: Corrigendum Notification No. 78/2022-Income Tax, Dated: 04.07.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 60/2022-Income Tax | Dated: 10th June, 2022 S.O. 2692(E).—In exercise of the powers conferred by section 118 of the Income-tax Act, […]

Food Safety and Standards (Vegan Foods) Regulations, 2022

June 10, 2022 1611 Views 0 comment Print

(1) These regulations may be called the Food Safety and Standards (Vegan Foods) Regulations, 2022. (2) They shall come into force on the date of their publication in the Official Gazette.

Food Safety and Standards (Alcoholic Beverages) First Amendment Regulations, 2022

June 10, 2022 1110 Views 0 comment Print

These regulations may be called the Food Safety and Standards (Alcoholic Beverages) First Amendment Regulations, 2022.

E-commerce exports of Jewellery through Courier mode – reg

June 10, 2022 879 Views 0 comment Print

Notice calling for suggestions, views, comments, feedback etc. from stakeholders on the following drafts for implementation of a simplified regulatory framework to facilitate export of Jewellery through e-commerce in Courier Mode – a) Draft Circular on Standard operating procedure to facilitate e-commerce jewellery exports in Courier Mode (page 2-7) b) Draft Notification for Amendment to […]

SOP for Export of Sugar in view of restriction vide N/N. 10/2015-20

June 10, 2022 1926 Views 0 comment Print

The quantity which has been dispatched from the sugar mill up to 31.05.2022 or which is in transit or lying on the port area shall continue to be undertaken for export without any requirement of separate release order in respect of source sugar mill.

Procedure for sharing information with tax deductors/collectors

June 9, 2022 1116 Views 0 comment Print

DGIT(S)/ADG(S)-2/Compliance Check/432/2021-22 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 01 of 2022-Income Tax New Delhi, 09th June, 2022 Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961 Section 206AB and 206CCA of the Income-tax Act,1961 (effective from 1st July 2021 and […]

GST Council Newsletter for the month of May, 2022

June 9, 2022 1557 Views 0 comment Print

GST Revenue collection for May, 2022 Rs. 1,40,885 crore gross GST Revenue collection for May, 2022; increase of 44% year-on-year GST collection crosses Rs.1.40 lakh crore mark 4th time since inception of GST; 3rd month at a stretch since March, 2022 The gross GST revenue collected in the month of May, 2022 is Rs.1,40,885 crore […]

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