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Marine Aids to Navigation Bill, 2021 introduced in Lok Sabha

March 15, 2021 555 Views 0 comment Print

AS INTRODUCED IN LOK SABHA Bill No. 60 of 2021 THE MARINE AIDS TO NAVIGATION BILL, 2021 ARRANGEMENT OF CLAUSES’ THE MARINE AIDS TO NAVIGATION BILL, 2021 A BILL to provide for the development, maintenance and management of aids to navigation in India; for training and certification of operator of aids to navigation, development of […]

Cases to be considered as Potential cases for section 148 notice

March 15, 2021 16764 Views 0 comment Print

Following categories of cases will be considered as Potential cases’ for taking action u s 148 of the Act tor the A.Y 2013-14 to A.Y. 2017-18 by 31.03.2021: i. Cases where there are Audit Objection (Revenue Internal) which reclaim action u/s 148 of the Act:

Nagpur & Gurugram DGGI makes big cases relating to fake invoices

March 15, 2021 1206 Views 0 comment Print

In the ongoing anti-evasion drive, last week saw the Gurugram Zonal Unit (GZU) and the Nagpur Zonal Unit (NZU) of DGGI make big cases relating to fake invoices. In an ongoing investigation, GZU made arrests of two members of a fake invoicing syndicate who were involved in GST fraud by way of issuance of fake GST invoices in excess of Rs. 4800 crore which defrauded the exchequer of more than Rs. 690 crore.

SEBI (Annual Report) Rules, 2021

March 12, 2021 3855 Views 0 comment Print

(1) These rules may be called the Securities and Exchange Board of India (Annual Report) Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette.

Data Format for Furnishing of Credit Information to Credit Information Companies and other Regulatory Measures

March 12, 2021 6120 Views 0 comment Print

The Uniform Credit Reporting Format has two Annexes. The Annex-I contains two formats for credit reporting, viz., Consumer Bureau and Commercial Bureau, whereas Annex-II contains credit reporting format for Micro Finance Institution (MFI) segment.

Flux Cored (Tubular) Electrodes (Quality Control) Order, 2021

March 12, 2021 4017 Views 0 comment Print

(1) This Order may be called the Flux Cored (Tubular) Electrodes (Quality Control) Order, 2021. (2) It shall come into force with effect from 1st September 2021.

Unmanned Aircraft System Rules, 2021

March 12, 2021 4485 Views 0 comment Print

1) These rules may be called the Unmanned Aircraft System Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette. (3) They shall apply to, – (a) Unmanned Aircraft System (UAS) registered in India, wherever they may be; or (b) a person owning or possessing or engaged in exporting, importing, manufacturing, trading, leasing, operating, transferring or maintaining an Unmanned Aircraft System in India; or (c) all Unmanned Aircraft System for the time being in or over India.

IBBI ask Registered Valuer to take reasonable care & due diligence

March 12, 2021 1170 Views 0 comment Print

In view of the above, the Authority, in exercise of powers conferred vide notification of Central Government no. GSR 1316(E) dated 18-10-2017 under section 458 of the Companies Act, 2013 and in pursuance of rule 15 and rule 17 of the Companies (Registered Valuers and Valuation) Rules, 2017, hereby warns Mr. Lakhan Lal Gupta that he should take reasonable care and due diligence while performing his functions under the Insolvency and Bankruptcy Code, 2016 and the Companies (Registered Valuers and Valuation) Rules, 2017.

Handling of non-responsive Income Tax cases for physical verification

March 12, 2021 8097 Views 0 comment Print

Compulsory/148/Set aside cases – where the assessee has not responded to the notices in last 30 days. However, the cases where emails are not present (cases without digital footprint) may not be marked as they would be handled by different procedure.

CBDT clarifies on potential cases for issue of Section 148 notice

March 12, 2021 27780 Views 0 comment Print

The ‘potential cases’ at Point no.1(iii) mean the cases flagged by the Directorate of Income-tax (Systems) subsequent to 04.03.2021. It is further clarified that the NMS cases flagged earlier will get subsumed in the new list.

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