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MoF Summons Infosys CEO to explain Income Tax portal glitches

August 23, 2021 2307 Views 0 comment Print

Ministry of Finance has summoned Sh Salil Parekh, MD & CEO, Infosys on 23/08/2021 to explain to hon’ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not been resolved. In fact,since 21/08/2021 the portal itself is not available. Meanwhile Infosys has made three tweets […]

Fake invoice racket evading tax of Rs. 32.56 crores of GST busted

August 22, 2021 4023 Views 0 comment Print

Press Release by CGST Agra Commissionerate regarding busting of of fake invoice racket evading tax of Rs. 32.56 crores of GST. Total 4 persons arrested Press Release Dated: 19.08.2021 Acting upon the intelligence developed by Anti-Evasion Branch of CGST Agra, an investigation was initiated against M/s G.S. Traders (GSTIN-09BRCPG1186M1ZJ) Agra, whereby it was found that […]

Request for Rationalisation of Section 270AA Penalty Provisions

August 22, 2021 5583 Views 1 comment Print

A reasonable leniency may be exercised by the AOs to allow the Taxpayer’s who have paid the tax and interest beyond the time limit specified in the demand notice issued u/s 156 to accept the application and grant immunity u/s 270AA.

Extension of last attempt to appear in CA Final & Intermediate old course exam

August 21, 2021 1350 Views 0 comment Print

The last attempt to appear in Final and Intermediate (IPC) old courses examination has been extended to November, 2021 for all the students of these courses (irrespective of their opting out of May 2021 examination cycle or not).

Revised MEF Form for year 2021-22 to be live in October 2021

August 20, 2021 6537 Views 3 comments Print

Members may kindly note that the Revised MEF Form for the year 2021-22 is expected to be made live (at meficai.org) in the month of October 2021.

Request for extension of Amnesty Scheme for non-filers of GST returns

August 19, 2021 23829 Views 9 comments Print

Government of India / CT and GST authorities of the Government of Odisha to do the needful at an early date to save the non-filers / Taxpayers, those who would not be able to take the advantage of the Amnesty Scheme as approved by the GST Council and the Government Notification dated-01/06/2021 due to the procedural constraints and this is going to affect the employment and economy of the country at large.

Patent Fees for Start-ups, MSMEs, Women Entrepreneurs reduced by 80%

August 19, 2021 3219 Views 0 comment Print

Ministry of Commerce & Industry Simplified Patent and Copyright Registration helping India become an innovation hub : Shri Piyush Goyal Fees for Start-ups, MSMEs, Women Entrepreneurs reduced by 80% India sees four fold increase in Patent and Trade Mark registrations during the last 5 years India’s ranking in Global Innovation Index up from 81st to […]

Pilot Launch of International Bullion Exchange – Gateway for Bullion Imports

August 18, 2021 837 Views 0 comment Print

Shri Injeti Srinivas, Chairperson, International Financial Services Centres Authority (IFSCA), launched the pilot run/soft launch here today. The International Bullion Exchange is scheduled to go live on October 1, 2021 the Foundation Day of IFSCA.

FAQs on PLI Scheme for White Goods (ACs and LED Lights)

August 18, 2021 1770 Views 0 comment Print

Frequently Asked Questions (FAQs) on Production Linked Incentive (PLI) Scheme for White Goods (ACs and LED Lights) – The Production Linked Incentive (PLI) Scheme for White Goods (PLIWG) as notified on April 16, 2021 shall provide financial incentive to boost domestic manufacturing and attract large investments in the White Goods manufacturing value chain

Income Tax Department conducts searches in NCR

August 18, 2021 924 Views 0 comment Print

The Income Tax Department conducted searches on 16.08.2021 on a company engaged in trading of telecom equipment and installation and servicing of these items for various telecom players in India. Searches were conducted at 5 premises, including the corporate office, residence of foreign director, residence of company secretary, accounts person and the cash handler of a foreign subsidiary company in India.

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