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Section 10(46) exemption to ‘District Mineral Foundation Trust’

September 10, 2021 1509 Views 0 comment Print

Vide Notification No. 103/2021-Income Tax | Dated: 10th September, 2021 CBDT notifies Tax Exemption to ‘District Mineral Foundation Trust’ . MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 103/2021-Income Tax | Dated: 10th September, 2021 S.O. 3659(E).—In exercise of the powers conferred by clause (46) of section 10 […]

Revised TMA for Specified Agriculture Products Scheme

September 9, 2021 12102 Views 1 comment Print

It has now been decided to introduce the ‘Revised Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ for the exports effected on or after 01.04.2021. The earlier scheme would remain in operation for the exports effected up to 31.03.2021.

Import policy of Mercury revised from ‘Free’ to ‘Restricted’

September 9, 2021 1008 Views 0 comment Print

Notification No. 24/2015-2020 Import policy of Mercury has been revised from ‘Free’ to ‘Restricted’ subject to obtaining Prior Informed Consent from MoEF&CC.

Adjustment of outstanding RD Loan/interest of matured RD Account through office account (SOL ID+0023) in CBS post offices

September 9, 2021 29046 Views 0 comment Print

This office is receiving many representations from RD account holders about the need for credit of outstanding RD Loan/interest amount on matured RD accounts in Finacle. The issue was examined in detail and to avoid any inconvenience to the RD account holders, necessary amendments have been made in Finacle.

Dept agreed to process Income Tax refund within 6 weeks after writ before HC

September 8, 2021 2271 Views 0 comment Print

L S Cable and System Ltd. Vs Union of India & Ors. (Delhi High Court) 1. The petition has been heard by way of video conferencing. 2. Present writ petition has been filed seeking a direction to respondent no.2 to issue refund determined vide assessment order dated 29th November, 2019 under Section 143(3) of the […]

Scrap sales not forms part of total turnover: HC

September 7, 2021 9459 Views 0 comment Print

CIT Vs Tweezerman (India) Pvt. Ltd. (Madras High Court) The short question involved in the instant case is as how to compute the total turnover while considering the claim for exemption under Section 10B of the Act. The assessee is engaged in the manufacture of certain articles which are being exported and during the manufacturing […]

SEBI revises client level Position Limits for Currency Derivatives Contracts

September 7, 2021 633 Views 0 comment Print

SEBI inter alia prescribed the position limits in permitted currency pairs. Based on feedback received from Stock Exchanges/ Clearing Corporations and upon a review of the same, it has been decided to revise the client level position limits, per stock exchange, as follows:

No GST exemption on ASSET (Assessment of Scholastic Skills through Educational Testing with its variants

September 7, 2021 1296 Views 0 comment Print

In re Educational Initiative Pvt. Ltd. (GST AAAR Gujarat) In view of the foregoing discussion, we allow the appeal filed by the department, modify the Advance Ruling No. GUJ/GAAR/R/27/2020 dated 02.07.2020 of the Gujarat Authority for Advance Ruling and hold that ASSET (Assessment of Scholastic Skills through Educational Testing – with its variants) conducted by […]

Anti-dumping investigation concerning imports of “Aluminium and Zinc coated flat products”- Reg.

September 6, 2021 573 Views 0 comment Print

Case No. AD-MTR-11/2020 Termination of Mid-Term Review limited to change of name of producer/exporter from Korea RP in the anti-dumping investigation concerning imports of Aluminium and Zinc coated flat products originating in or exported from China PR, Vietnam and Korea RP

Sales Commission cannot be treated as Technical Services

September 5, 2021 2358 Views 0 comment Print

CIT Vs Wheels India Limited (Madras High Court) After hearing the submissions of the auhorized representative of the assessee, the CIT(A) perused the copies of the agreement and on facts, found that the amounts paid by the assessee were sales commission and marketing services to nonresident agents outside India for their services rendered outside India […]

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