With the aim to simplify the process for post reporting in case of export of certain chemicals under SCOMET list and to reduce the compliance burden on exporters, a draft policy on General Authorization for Export of Chemicals and related equipment (Excluding Software and Technology) is proposed. The same is being circulated for the public/Industry comments and feedback.
CBDT clarifies that eligibility of exemption under clause (23FE) of section 10 of the Act shall be as follows: – (a) if the loans and borrowings have been taken by the specified fund or any of its group concern, specifically for the purposes of making investment by the specified fund in India, such fund shall not be eligible for exemption under clause (23FE) of section 10 of the Act;
(i) Video conferencing facilities may be used at all stages of judicial proceedings and proceedings conducted by the Court. (ii) All proceedings conducted by a Court via video conferencing shall be judicial proceedings and all the courtesies and protocols applicable to a physical Court shall apply to these virtual proceedings. The protocol provided in Schedule I shall be adhered to for proceedings conducted by way of video conferencing.
CBDT authorizes Director General of Income-tax (Systems) to upload information relating to Foreign remittance information reported in Form 15CC, Information in Annexure II of the 24Q TDS Statement of the last quarter, Information in ITR of other taxpayer, Interest on Income Tax Refund, Information in Form 61/61A where PAN could be populated, Off Market Transactions […]
ICSI request MCA to consider the extension of Last date of filing e-forms AOC-4, AOC-4 (XBRL) and MGT-7 without additional fees for such companies till 31st December, 2021.
DCIT Vs Niyati Construction Co. (ITAT Ahmedabad) The assessee has claimed that interest on Fixed Deposit, interest on SSNL Fixed Deposit and interest on SSNL Bonds was made out of surplus funds available with the assessee and the interest income was part of the business income. Therefore, the same was correctly included for calculating remuneration […]
As an NRI, the thought of investing in your homeland can be overwhelming, given the wide range of options available. Hence, the best way to choose an investment instrument is to be clear about your investment objectives and aspirations. One viable option that allows you to save your funds in foreign currency is the FCNR […]
ICAI has issued various Engagement and Quality Control Standards over the period of years. These standards contain provisions/references of relevant Acts, Rules, Regulations, Accounting Standards, and other Pronouncements issued by ICAI which were prevailing at the time of issuance of these standards.
We invoke your kind and immediate attention towards a continued advertisement campaign primarily on social media including Twitter relating to promoting people to buy online in order to protect from Covid. While registering our strong protest on this particular advertisement, we call upon you to immediately withdraw the said advertisement and suspend its promotion any further.
Ashoka Buildcon Limited Vs ACIT (ITAT Pune) It is observed that the assessee allegedly purchased raw materials through the Hawala purchase bills and thereafter consumed the same in the power project In such a situation, it cannot be said that the entire amount of hawala purchase bills requires addition. The Hon‟ble jurisdictional High Court in […]
