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Indian liaison office of UAE Company engaged in fund remittance services not constitute a PE in India

December 24, 2020 1650 Views 0 comment Print

Union of India Vs U.A.E. Exchange Centre (Supreme Court) Respondent was not carrying on any business activity in India as such, but only dispensing with the remittances by downloading information from the main server of respondent in UAE and printing cheques/drafts drawn on the banks in India as per the instructions given by the NRI […]

Extend due date for filing ITR & Tax Audit Report- AY 2020-21

December 24, 2020 25218 Views 4 comments Print

Punjab Accountants Association has made a request for extension of due date for filing annual Income Tax Returns (ITR) and Tax Audited Returns (TAR) for AY 2020-21 under IT Act, 1961 to Finance Minister.  They requested to extend due date for uploading and filing Income Tax Returns and Tax Audited Reports under Section 139(1) of […]

Refund amount collected as Stamp Duty on Bills of Entry filed for Import: HC

December 23, 2020 6141 Views 0 comment Print

Ramratna Wires Ltd. Vs State of Gujarat (Gujarat High Court) The issue raised in this writ application as regards the legality and validity of collecting the stamp duty on the Bills of Entry is no longer res-integra in view of the pronouncement of this Court in the case of State of Gujarat and others Vs. […]

Extend due dates for Tax Audit & Income Tax Return filing for AY 2020-21

December 23, 2020 65766 Views 28 comments Print

Luminaires Accessories Components Manufacturers Association has requested FM to extend the due dates for Tax Audit and Income Tax Return filing to March 31, 2021 for the Assessment Year 2020-21 .  Relevant Text of their representation is as follows:- To, Smt. Nirmala Sitharaman Hon’ble Finance Minister, Ministry of Finance, North Block, New Delhi 110 001. […]

No addition for under invoicing merely based on Section 132(4) statement

December 23, 2020 2100 Views 0 comment Print

DCIT Vs Bharathi Consumer Care Products Pvt. Ltd. (ITAT Visakhapatnam) In the instant case there was no evidence found in the premises of the assessee to show that the assessee is under invoicing the sales. No other material was found and seized from the premises of the assessee with regard to receipt of cash from […]

RBI Cautions against unauthorised Digital Lending Platforms/Mobile Apps

December 23, 2020 648 Views 0 comment Print

There have been reports about individuals/small businesses falling prey to growing number of unauthorised digital lending platforms/Mobile Apps on promises of getting loans in quick and hassle-free manner.

Request to extend Due date of Annual GST Return & Audit

December 23, 2020 11145 Views 0 comment Print

Bhayander CA Social Group has made a representation requesting for extension of Due date for filing GST Annual Return & GST Audit for the Financial Year 2018-19 till 31st March 2021. Full text of the representation is as follows:- Bhayander CA Social Group BCASG/20-21/01 Date: 22 December’2020 To, Smt. Nirmala Sitaraman Hon’ble Finance Minister, Ministry […]

Filing of reporting to Stock Exchanges for violations of Insider Trading Regulations, relating to Code of Conduct

December 23, 2020 5496 Views 0 comment Print

In order to ease the filing of Reporting for violations of Code of Conduct (CoC), the Exchange has now provided a facility in the Listing Centre for filing by the listed companies. The path for this filing in the BSE Listing Centre is as follows:

SOP for Epidemiological Surveillance & Response in context of new variant of SARS-CoV-2 virus detected in UK

December 23, 2020 621 Views 0 comment Print

A new variant of SARS- CoV 2 virus [Variant Under Investigation (VUI)-20212/01] has been reported by the Government of United Kingdom (UK) to World Health Organization (WHO). This variant is estimated by European Center for Disease Control (ECDC) to be more transmissible and affecting younger population.

Anti-dumping investigation on imports of Flat Rolled Products of Stainless Steel

December 23, 2020 8112 Views 0 comment Print

Case No. OI-10/2019 Anti-dumping investigation concerning imports of Flat Rolled Products of Stainless Steel originating in or exported from China PR, Korea RP, European Union, Japan, Taiwan, Indonesia, USA, Thailand, South Africa, UAE, Hong Kong, Singapore, Mexico, Vietnam and Malaysia.

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