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EPFO issues instructions to credit interest of 8.5% for year 2020-21

October 30, 2021 1824 Views 0 comment Print

EPFO issues instructions to credit interest of 8.5% for the year 2020-21 into some 25.0 crore accounts of members with EPFO vide Circular No. INV-11/1/2020-INV  Dated: 30.10.2021. Employees’ Provident Fund Organisation (Ministry of Labour & Employment, Govt. Of India) Head Office Bhavishya Nidhi Bhawan, 14- Bhikaiji Cama Place, New Delhi – 110066 www.epfindia.gov.in/www.epfindia.nic.in No. INV-11/1/2020-INV  […]

Sales promotion being essential character of bundle of services classifiable under ‘BAS’

October 30, 2021 2136 Views 0 comment Print

CESTAT held that sales promotion and marketing being essential character of the bundle of services have to be classified under ‘Business Auxiliary Service’.  

Section 10(46) exemption to Madhya Pradesh Pollution Control Board

October 29, 2021 1959 Views 0 comment Print

Vide Notification No. 126/2021-Income Tax | Dated: 29th October, 2021 CBDT notifies Tax Exemption to Madhya Pradesh Pollution Control Board in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 126/2021 – Income Tax New Delhi, the 29th […]

Unique Identification Authority of India (Adjudication of Penalties) Rules, 2021

October 29, 2021 939 Views 0 comment Print

(1) These rules may be called the Unique Identification Authority of India (Adjudication of Penalties) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

Activity of Providing Affordable Housing by MHADA is Charitable in Nature

October 29, 2021 903 Views 0 comment Print

Maharashtra Housing & Area Development Authority (MHADA) Vs DCIT (ITAT Mumbai) Merely because MHADA builds tenements and sells them does not lead to any inference that MHADA’s activities are in the nature of trade, commerce or business. We have already discussed in detail that assessee’s activity is no way can be held for the profit […]

Reg. Adjustment of interest in MIS account in case of death of joint holder

October 28, 2021 17907 Views 0 comment Print

Regarding adjustment of interest through HINTTM menu for premature closure of PPF account, deceased claim closure of SCSS/SSA account in CBS post offices and payment of excess deposit amount in MIS in case of death of joint account holder.

Case of non-payment of GST of Rs. 12.9 crore detected in Navi Mumbai

October 28, 2021 915 Views 0 comment Print

With regard to anti-evasion cases, based on data mining and analytics, Navi Mumbai Commissionerate has detected a case of 12.9 crore of non-payment of GST relating to erection, commissioning, repair & maintenance services. In this case a recovery of Rs. 8.43 crores has been made so far.

Advisory to file Form NFRA-2 Annual Return immediately

October 28, 2021 1440 Views 0 comment Print

 Advise to file Form NFRA-2 Annual Return for the reporting period 2018-2019 and also for the year ending 31/03/2020, immediately without any delay, if not filed already

3 arrested for running fake firms and evading GST

October 27, 2021 1593 Views 0 comment Print

The Gurugram Zonal Unit (GZU) of Directorate General of GST Intelligence (DGGI) has arrested three persons under the provisions of the GST Act on charges of running multiple fake firms on the strength of fake documents in two different cases.

PFRDA Facility of Online APY Subscription through Aadhaar e KYC

October 27, 2021 801 Views 0 comment Print

PY through e KYC: As of now, the enrolment of Subscribers happens through physical, net banking or other digital modes provided by the respective APY-SPs (APY Service Providers).

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