It is announced for general information that during the year 2020-2021, accumulations at the credit of subscribers to the General Provident Fund and other similar funds shall carry interest at the rate of 7.1% (Seven point one percent) w.e.f. 1st July, 2020 to 30th September, 2020. This rate will be in force w.e.f. 1st July, 2020. The funds concerned are:
One-time relaxation for Verification of tax-returns for the Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITR-V form and processing of such returns
Income Tax Department has facilitated a new functionality for Banks and Post offices through which they can ascertain the TDS applicability rates on cash withdrawal of above Rs.20 lakh in case of a non-filer of the income-tax return and that of above Rs. 1 Crore in case of a filer of the income-tax return. So far,more than 53,000 verification requests have been executed successfully on this facility.
It has been clarified that import of Blended Edible Vegetable Oils (BEVO) without prior AGMARK certification is not allowed in India and further the Blended Edible Oils (BEVO) shall also comply with the rules and regulations made under FSS Act, The above mentioned compliance is to be ensured by the field formations.
Compliance should be met regarding compulsory veterinary certificate issued by Competent Authority of exporting country under Food Safety and Standards (Food Products Standards and Food Additives) Regulations, 2011.
Seeks to amend notification No. 09/2012-Customs dated 09.03.2012, providing for extension of last date of re-import by three months, for those cases where the last date of such re-import falls between 01.2.2020 and 31.7.2020 due to the outbreak of COVID-19 pandemic. In view of COVID-19 pandemic situation, the Government today extended relief to gems and […]
Certain additions/amendments have been made in the MEIS Schedule which is Appendix 3B, Table 2 to harmonize it with the Notification no. 38 dated 01.01.2020 and the changes in the Finance (No. 2) Act, 2019, Filth Schedule as notified by CBIC. Government of India Ministry of Commerce & Industry Department of Commerce Directorate General of […]
Life Insurers offering group credit life insurance schemes, where under, the members have availed moratorium on payment of EMIs are allowed to suitably modify the term and sum assured under such schemes, against collection of additional premium as may be required, in respect of such members, so that they may continue to be covered as per the revised loan repayment schedule.
CBDT Extends Time Limit for processing of Income Tax Return with Income Tax Refund Claims u/s 143(1) for AY 2017-18 in Non scrutiny cases till 31.10.2020.
SEBI Master Circular for Commodity Derivatives Market updated till 10th July 2020 is a compilation of the circulars issued by Commodity Derivatives Market Regulation Department (CDMRD) pertaining to domestic commodity derivatives segment, which have been issued 10th July 2020. Securities and Exchange Board of india MASTER CIRCULAR SEBI/HO/CDMRD/DNPMP/CIR/P/2020/118 July 10, 2020 To, All Stock Exchanges […]
