Section 5- Scope of income – Income Tax Act, 1961 5. [1] the total income of any previous year of a person who is a resident includes all income from whatever source derived which— [a] is received or is deemed to be received in India in such year by or on behalf of such person […]
SEBI had placed the formats for Business Responsibility and Sustainability Reporting, for public consultation on its website on August 18, 2020, seeking comments by September 18, 2020. In view of the impact of the CoVID-19 pandemic, it has been decided to extend the timelines for seeking public comments to October 18, 2020. The comments may […]
Digital Accounting Assurance Board of The Institute of Chartered Accountants of India (ICAI) invites comments on the following exposure drafts of Forensic Accounting and Investigation Standards (FAIS):
An offline tool has been made available to the taxpayers to match Input Tax Credit (ITC), as auto populated in their Form GSTR-2B, with their purchase register. This tool will help the taxpayer to compare their ITC as per their Purchase Register, with the ITC as shown available in their auto drafted Form GSTR-2B and thus help them to claim correct ITC, while filing Form GSTR-3B.
New enhancement allows downloading E-Way bills for one month period in one go – The facility was earlier available for the period of 5-days interval. – User can download E-way bill using the Reports tab in E-way bill portal – The facility is aimed to provide relief to taxpayers and transporters E-way bill, a document, […]
In last one year, several incidents have been reported in the state, where properties have been transferred without the knowledge and consent of legal owners. An imposter claims to be owner of the property and sell the property to other party. The government has launched several new safety measures in its registry system to prevent […]
Government of India has amended the Public Procurement (Preference to Make in India) Order, 2017 on 16.09.2020, enabling nodal Ministries/ Departments to notify higher minimum local content requirement for Class-I & Class-II local suppliers which was earlier fixed at 50% and 20% respectively.
The Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020), notified on 21st August, 2020, shall come into force from 21st September, 2020 upon completion of the 30 day period that was given to importers and other stakeholders to familiarize themselves with new provisions.
Various restrictions were imposed to ensure social-distancing during lock down under guidelines released by Ministry of Home Affairs (MHA), from time to time. During this period delivery of essential goods, including food, pharmaceuticals, medical equipment were encouraged through e-commerce. Since, the pandemic is still ongoing, it is too early to make an assessment of the impact of the pandemic on the e-commerce sector.
Government of India has promulgated the following three Ordinances to implement reforms in agriculture sector: i. The Farmers’ Produce Trade and Commerce (Promotion and Facilitation) Ordinance, 2020 ii. The Farmers (Empowerment and Protection) Agreement on Price Assurance and Farm Services Ordinance, 2020 iii. The Essential Commodities (Amendment) Ordinance 2020
