Popular Posts
Data “Of the People, By the People, For the People”
Navigating in an uncertain, wobbly world requires constant monitoring of the path followed by the economy using real-time indicators. Thus, data can serve as the stones that enable one to cross the river. Concurrent with the data explosion of recent years, the marginal cost of data has declined exponentially while its marginal benefit to society has increased manifold.
Two Years Imprisonment to Then Central Excise Commissioner
The Additional Special Judge for CBI Cases, Visakhapatnam has convicted Sh. Surender Pal Singh @ S.P.Singh (an IRS officer of 1973 batch), the then Commissioner, Central Excise, Port Area, Visakhapatnam and sentenced him to undergo two years Rigorous Imprisonment with a fine of Rs.20,000/- in a CBI case. CBI had registered this case on 09.03.2001 […]
CBIC notifies Rate of Exchange of Foreign Currencies wef 20.12.2019
Exchange Rate Notification No. 91/2019-Custom (NT) dated 19.12.2019-Notifying Customs Rate of Exchange of Foreign Currency Conversion w.e.f. 20th December, 2019.
Budget 2020 -CTT on new commodity derivative products proposed
Sale of a commodity derivative based on prices or indices of prices of commodity derivatives at the rate of 0.01 per cent payable by the seller, which is the same rate at which CTT is currently charged on a transaction of sale of a commodity derivative; Sale of an option in goods, where option is exercised resulting in actual delivery of goods at the rate of 0.0001 per cent payable by purchaser;
Key Proposals Under Union Budget 2020
Aspirational India, Economic Development and Caring Society are the three themes based on which our Hon’ble Finance Minister Nirmala Sitharaman deliver Union Budget 2020 on February 01, 2020. In this article we will be discussing key proposals which FM has proposed for achieving the target of $ 5 trillion economy. Below mentioned are the proposals: […]
HC directs payment of Development / Environmental Cess at increased rate till disposal of Appeal by SC
The Petitioner herein accordingly is directed to continue depositing the Cess amount as per revised rate under protest as they have been doing in the past. The said deposit would be subject to the outcome of the Civil Appeals by the Honble Supreme Court.
GST Order passed without considering the ground raised is invalid
Lakhan Singh Chauhan and Company Vs Union of India and others (Madhya Pradesh HC) In the impugned order, there is no consideration to the grounds mentioned in the memo of appeal regarding non-communication of the order to the petitioner and start of period of limitation from the date of communication or knowledge of the order. […]
Companies Fresh Start Scheme (CFSS), 2020- Complete Overview & FAQs
The MCA vide its circular dated 30th March 2020 has issued Companies Fresh Start Scheme, 2020 to promote defaulting companies to make a fresh start on a clean slate and waive the additional fee as charged under section 403 of Companies Act, 2013 which is applicable on certain forms to be filed with MCA. –Companies Fresh Start Scheme, 2020 will […]
Retirement Benefits & Financial Planning
1. Further to my Article ‘Retirement Benefits and Tax Liabilities‘ dated 09 April 2020, the major challenge with the person is where to invest the retirement money to get steady inflow and live life without any financial stress Depending on individual’s financial health, physical health and family commitments, various options may be evaluated. 2 Emergency […]
Loan from directors – Section 68 addition- Additional Evidence- ITAT restore matter to AO
Harina Developers Pvt. Ltd. Vs ITO (ITAT Bangalore) The issue under consideration is that whether the loan received from two directors can be considered as unexplained cash credit u/s 68 of the Act? In the given case, the assessee has received amount from two of its directors. The assessee could file only ledger account extract […]
