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TDS not deductible on payment to Facebook Ireland & Mailchimp US for Advertisement

August 17, 2021 5298 Views 0 comment Print

Urban Ladder Home Décor Solutions Pvt. Ltd. Vs ACIT (ITAT Bangalore) A careful perusal of the relevant provisions of the agreement entered by the assessee with Facebook and Rocket Science Group (Mailchimp) would show that both these non-resident companies are allowing the assessee to use the facilities provided in their sites, which includes, inter alia, […]

CBIC restricts Clarifications by Custom Directorates/Commissionerates/Audit

August 17, 2021 804 Views 0 comment Print

As you are aware, in order to promote information sharing on the modus operandi, findings or observations detected during the investigation, audit or risk analysis etc., there exists a practice of issuing Circulars/Reports/Alerts etc by the Directorates/Commissionerates/Audit to all the Zones.

Officers to Forward verification requests on origin of imported goods to CBIC

August 17, 2021 1086 Views 0 comment Print

Officers under your charge may be advised to ensure that enquiries on origin of imported goods are handled and all verification requests are forwarded to the Board strictly in terms of provisions of CAROTAR, 2020 following prescribed standard procedures, formats and timelines.

AAR explains applicability of paragraph 2A of Notification No. 03/2019-Central Tax (Rate) dated 29.03.2019

August 17, 2021 2655 Views 0 comment Print

In re Thiru Neelakanta Realtors LLP (GST AAR Tamilnadu) 1.Whether paragraph 2A of Notification No. 03/2019-Central Tax (Rate) dated 29th March, 2019, is applicable to those agreements entered on or before 29th September 2019 with unregistered persons? 2. If the answer to question (1) is affirmative, whether Notification no 03/2019-Central Tax (Rate) dated 29th March, […]

Request to extend timelines for holding AGM due to COVID-19

August 16, 2021 40986 Views 8 comments Print

Considering the current crisis, ICSI requested Ministry of Corporate Affairs to grant an extension of time to the companies for holding AGM for the year ended 31st March, 2021 till 31st December, 2021 so as to provide relief to all the companies and stakeholders.

SEBI issues Directions to NCDEX regarding trading in Chana

August 16, 2021 321 Views 0 comment Print

Securities and Exchange Board of India  Press Releases No. 25/2021 SEBI issues Directions to NCDEX regarding trading in Chana SEBI has issued the following directions to National Commodity & Derivatives Exchange Limited (NCDEX), in respect of trading in Chana contracts: 1. No new Chana contract shall be launched till further orders. 2. In respect of […]

Taxation Laws (Amendment) Act, 2021

August 14, 2021 3756 Views 0 comment Print

In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the following provisos shall be inserted, namely:— “Provided also that nothing contained in this Explanation shall apply to— (i) an assessment or reassessment to be made under section 143, section 144, section 147 or section 153A or section 153C; or (ii) an order to be passed enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154; or

Amendments in Regulations 51, 54 & 58 of CAs Regulations, 1988

August 14, 2021 1503 Views 0 comment Print

(1) An articled assistant who has passed the Intermediate (Professional Competence) Examination or Professional Education (Examination-II) or Intermediate examination and has completed a minimum of eighteen months of practical training according to these regulations shall be eligible for industrial training.

Security and Covenant Monitoring’ using Distributed Ledger Technology

August 14, 2021 1908 Views 0 comment Print

The system shall be used for recording and monitoring of the security created and monitoring of covenants of non-convertible securities. The system shall inter alia capture the process of creation of security (viz. due diligence, charge creation etc.), continuous monitoring of covenants by Debenture Trustees (as applicable), credit rating of the non-convertible securities by the Credit Rating Agencies (CRAs) etc.

ICAI extends date for completion of ICITSS (ITT and OC)

August 14, 2021 741 Views 0 comment Print

13th August, 2021 Announcement Extending the date for completion of ICITSS (ITT and OC) for provisionally registered students through Direct Entry Route for appearing in May, 2022 Intermediate Examination

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