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PFRDA: Digital interface between CRA and POPs

May 31, 2021 426 Views 0 comment Print

In order to overcome the challenges of physical handling of Subscriber application forms and for addressing the concerns expressed by various stake holders in dispatch of those forms from geographically diverse locations to CRAs, PFRDA has already made available suitable digital enablers for seamless interaction of POPs and CRAs, for the convenience of Subscribers.

PFRDA: Relaxation in processing of exit application by PoPs

May 31, 2021 324 Views 0 comment Print

Covid induced hardships continue unabated and in order to alleviate the difficulties being faced by the Subscribers in submitting physical applications for exit/withdrawal and the logistical challenges faced by POPs in collecting those applications to process and dispatch the same to CRA, it has been decided to relax the process of handling withdrawal applications by POPs in in the interest of Subscribers.

Export of Red Sanders wood by DRI – Extension of time upto 31.12.2021

May 31, 2021 564 Views 0 comment Print

Notification No. 06/2015-2020 Directorate of Revenue Intelligence has been allowed time upto 31.12.2021 to complete the process of export of allocated quantities of Red Sanders wood.

Maharashtra further extends Lockdown till 15th June 2021

May 30, 2021 5127 Views 0 comment Print

It is necessary to impose various restrictions in different parts of the Maharashtra beyond 7 AM on 1st June, 2021 till 7 AM on 15th June, 2021 to break the chain of transmission effectively. However, it is seen that as per the changing scenario in the State with regard to the COVID 19 conditions in various regions of the State, it is necessary to impose restrictions in line with the conditions in every region

Latest Case Law Related to IBC – January 2021- March, 2021

May 30, 2021 6780 Views 0 comment Print

Supreme Court Laxmi Pat Surana Vs. Union Bank of India & Anr. [CA No. 2734/2020] An FC had extended a credit to a proprietorship firm, which failed to repay the amount. The credit was guaranteed by a company. The FC filed an application under section 7 for CIRP of the CD (guarantor company). The application […]

CBIC collects Late GST Fees of Rs. 4,322.32 crore till December, 2019- RTI reveals

May 29, 2021 3057 Views 0 comment Print

Please tell me the figure of the late fees GST Department has collected from July 2017 till date? Total Fees (Net) collected under GST in the books of central Govt. accounted by this office from 1st July, 2017 to December, 2019 is Rs. 4,322.32 crore.

Empanelment for Due Diligence process of Advances with Central Bank of India

May 29, 2021 28998 Views 16 comments Print

Central Bank of India invites applications from interested External Agencies from reputed firms of Chartered Accountants (CAs) and Company Secretaries (CSs) or CAs / CSs in their individual capacity for empanelment for Due Diligence process of Advances.

Guidelines on settlement of Life Insurance Claims to victims of Cyclones Tauktae,Yaas

May 28, 2021 480 Views 0 comment Print

As a result of Cyclones Tauktae,Yaas there are reports of loss of human lives and loss of belongings in the affected Districts of primarily in the states of Maharashtra, Gujarat, Odisha and West Bengal. In order to extend every possible facilitation in quick and timely settlement of life insurance claims, you are advised to take the following actions immediately in all the states affected by the said cyclones:

Income of Husband cannot be taxed as Income of wife for mere Joint Account & such Account cannot be treated as undisclosed foreign a/c 

May 28, 2021 5481 Views 1 comment Print

ITO Vs Ayesha Abid Ali (ITAT Hyderabad) We find that the Assessing Officer has made the addition in the hands of the assessee of interest income from an A/c with HSBC held by the assessee jointly with her husband which was opened by his employer to deposit his salary income. Therefore, it is not an […]

ITAT upheld addition on account of unaccounted cash towards sale of land

May 28, 2021 801 Views 0 comment Print

ACIT Vs V.V. Rajam (ITAT Hyderabad) On perusal of the statement, AO has observed that the assessee has purchased a land of 2 acres in survey No. 356/3E1/1 situated at Pragnyapur village, Gajwel Mandal, Medak District in his name for a consideration of Rs. 1.2 crore as well as purchased a house in Hyderabad in […]

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