This is for information of all taxpayers that the following proposals have been approved by the GST council, in its 42nd meeting, held on 5th October, 2020. The proposed timelines for implementation of the said decisions are given in the table below:-
1. (1) These regulations may be called the Chartered Accountants (Amendment) Regulations, 2020. (2) They shall come into force on the date of their publication in the Official Gazette.
Notification No. 83/2020-Income Tax Central Government hereby notifies that where the variation between the arm’s length price determined under section 92C of the said Act and the price at which the international transaction or specified domestic transaction has actually been undertaken does not exceed one per cent. of the latter in respect of wholesale trading and three per cent. of the latter in all other cases, the price at which the international transaction or specified domestic transaction has actually been undertaken shall be deemed to be the arm’s length price for assessment year 2020-2021.
Faceless Appeal Scheme has been implemented in ITBA and the allocation of cases to Faceless Appeal units is under progress. A number of requests have been received from the field formation for opening of the Appeal module in ITBA to enable the CIT (Appeals ) to upload the physical records and submissions made by the appellant in the system so that the faceless Appeal units don’t have to request the same again from the tax payers.
1. These regulations may be called the Securities and Exchange Board of India (Alternative Investment Funds) (Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette.
1. These regulations may be called the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices relating to Securities Market) (Second Amendment) Regulations, 2020.
Seeks to amend notification No. 51/2015-Customs (ADD) dated 21st October, 2015 to extend the levy of ADD on All Fully Drawn or Fully Oriented Yarn/Spin Draw Yarn/Flat Yarn of Polyester imported from China and Thailand till 30th November, 2020. MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 19th October, 2020 Notification No. 32/2020-Customs […]
In order to encourage the participation of Farmers / Farmers Producers Organizations (FPOs) in agricultural commodity derivatives markets, the Stock Exchanges have created a separate fund, out of the regulatory fee so forgone by SEBI. The Stock Exchanges have been permitted by SEBI to utilize the said fund exclusively for the benefit of and easy participation by Farmers / FPOs in the agricultural commodity derivatives market
We have embarked on ‘Faceless Assessment’, a reformative initiative, at a critical time when the economy is opening up again. This step would benefit both the trade and the department.
Thus, MDAC is part of SEBI’s initiatives to make shareable data on the Indian securities market, available for researchers, policy makers, general public alike and to enhance the quality of such data. Some of the other initiatives taken by SEBI, through its Department of Economic and Policy Analysis (DEPA), include:
