(1) This Act may be called the Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Act, 2020. (2) It shall be deemed to have come into force on the 5th day of June, 2020.
Andhra Pradesh: Clarification on whether the eligibility of tax paid under Reverse charge, under GST is eligible for certification of payment of Tax for the purpose of reimbursement under Industrial Investment Promotion Policy, 2015-20.
Report No.11 of 2020 – Compliance Audit of Union Government, Department of Revenue – Direct Taxes This Report primarily discuss compliance to the provisions of the Income Tax Act, 1961 and the associated rules, procedures, etc. as applied to all aspects related to the administration of direct taxes. Direct taxes receipts of Union Government in […]
The Companies (Amendment) Bill, 2020 was introduced in Lok Sabha by the Minister for Corporate Affairs, Ms. Nirmala Sitharaman, on March 17, 2020.The Bill get passed by Lok Sabha on Sep 19, 2020 The Union Corporate Affairs Minister Nirmala Sitharaman moved the Companies (Amendment) Bill, 2020 for passing in the Upper House (Rajya Sabha) on […]
Midland Credit Management India Pvt. Ltd. Vs Addl. CIT (ITAT Delhi) Assessee by way of additional ground has claimed deduction of cess on the ground that the same is not covered under section 40(a)(ii) of the Act. The Hon’ble High Court of Bombay at Panaji bench in the case of Sesa Goa 423 ITR 426 […]
1. Whether all the insurers shall offer ‘Arogya Sanjeevani Policy’? All the General and Standalone Health insurers are mandated to offer Standard Individual Health Insurance Product ‘Arogya Sanjeevani Policy’. However, if any insurer is currently not offering indemnity based health insurance products at all, the above stipulation will not apply to such insurers. 2. How […]
Central Board of Direct Taxes (CBDT) notifies Income-tax Authorities of Regional Faceless Appeal Centres (RFAC) vide Notification No. 81/2020-Income Tax dated 25th September, 2020. Ministry Of Finance (Department Of Revenue) (Central Board of Direct Taxes) Notification No. 81/2020-Income Tax New Delhi, The 25th September, 2020 S.O. 3309(E).—In exercise of powers conferred by sub-sections (1) and […]
Central Board of Direct Taxes (CBDT) notify the Income-tax Authorities of National Faceless Appeal Centre (NFAC) vide Notification No. 80/2020-Income Tax dated 25th September, 2020. Ministry Of Finance (Department Of Revenue) (Central Board of Direct Taxes) Notification No. 80/2020-Income Tax New Delhi, The 25th September, 2020 S.O. 3308(E).-—In exercise of powers conferred by sub-sections (1) […]
The Income Tax Department today launched Faceless Income Tax Appeals. Under Faceless Appeals, all Income Tax appeals will be finalised in a faceless manner under the faceless ecosystem with the exception of appeals relating to serious frauds, major tax evasion, sensitive & search matters, International tax and Black Money Act. Necessary Gazette notification has also been issued today.
ACB [India] Power Ltd. Vs DCIT (ITAT Delhi) Assessing Officer observed that the borrowings of the assessee also has been invested in share capital of subsidiary companies and even the funds raised during the year under consideration have been invested in subsidiary shares of group companies and also repaying the loans. The Assessing Officer was […]
