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Anti-dumping investigation on imports of Stainless-Steel Seamless Tubes & Pipes

September 10, 2021 2646 Views 0 comment Print

Case No. AD (OI) – 13/2021 Initiation of anti-dumping investigation concerning imports of Stainless-Steel Seamless Tubes & Pipes originating in or exported from China PR.

Sunset Review of anti-dumping duty on imports of Amoxycillin/Amoxycillin Trihydrate

September 10, 2021 570 Views 0 comment Print

Case No. AD (SSR)-24/2021] Initiation of Sunset Review of anti-dumping duty imposed on imports of Amoxycillin/Amoxycillin Trihydrate, originating in or exported from China PR.

No section 206C(1H) TCS on transfer of goods by Air India to holding company

September 10, 2021 987 Views 0 comment Print

Central Government hereby specifies that, Air India Limited (PAN: AACCN6194P) shall not be considered as ‘seller’ for the purposes of sub-section (1H) of section 206C of the said Act in relation to transfer of goods by it to Air India Assets Holding Limited (PAN: AAQCA4703M) under a plan approved by the Central Government. MINISTRY OF […]

No Section 194Q TDS on transfer of goods by Air India to holding company

September 10, 2021 1026 Views 0 comment Print

Central Government hereby specifies that no TDS shall be deducted under section 194Q in case of transfer of goods by Air India Limited  to Air India Assets Holding Limited under a plan approved by the Central Government. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 107/2021-Income Tax | […]

No Section 194IA TDS on payment by Air India limited to holding company for property

September 10, 2021 924 Views 0 comment Print

Central Government hereby specifies that no TDS shall be deducted under section 194-IA of Income Tax Act  on any payment made to the Air India Limited  for transfer of immovable property to Air India Assets Holding Limited under a plan approved by the Central Government. Notification No. 106/2021-Income Tax | Dated: 10th September, 2021 MINISTRY […]

CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment

September 10, 2021 2805 Views 0 comment Print

Finance Act, 2021 has amended section 72A of the Income-tax Act, 1961 (the Act) to inter alia provide that in case of an amalgamation of a public sector company (PSU) which ceases to be a PSU (erstwhile public sector company), as part of strategic disinvestment, with one or more company or companies, then, subject to the conditions laid therein, the accumulated loss and the unabsorbed depreciation of the amalgamating company shall be deemed to be the loss, or as the case may be, allowance for unabsorbed depreciation of the amalgamated company for the previous year in which the amalgamation was effected.

Transfer from Air India limited to holding company will not be treated as transfer: CBDT

September 10, 2021 795 Views 0 comment Print

Transfer of capital asset under plan approved by Central Government from Air India Limited being transferor public sector company, to Air India Assets Holding Limited being transferee public sector company will not be regarded as transfer as per clause (viiaf) of the section 47 of the Income-tax Act, 1961. Notification No. 104/2021-Income Tax | Dated: […]

Section 10(46) exemption to ‘District Mineral Foundation Trust’

September 10, 2021 1485 Views 0 comment Print

Vide Notification No. 103/2021-Income Tax | Dated: 10th September, 2021 CBDT notifies Tax Exemption to ‘District Mineral Foundation Trust’ . MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 103/2021-Income Tax | Dated: 10th September, 2021 S.O. 3659(E).—In exercise of the powers conferred by clause (46) of section 10 […]

CRM for offsetting gross exposure of foreign bank branches in India to Head Office

September 9, 2021 765 Views 0 comment Print

Reserve Bank of India RBI/2021-22/97 DOR.CRE.REC.47/21.01.003/2021-22 September 09, 2021 All Scheduled Commercial Banks (Excluding Regional Rural Banks) Dear Sir/Madam, Large Exposures Framework – Credit Risk Mitigation (CRM) for offsetting – non-centrally cleared derivative transactions of foreign bank branches in India with their Head Office Please refer to circular No. DBR.No.BP.BC.43/21.01.003/2018-19 dated June 03, 2019 on […]

Revised TMA for Specified Agriculture Products Scheme

September 9, 2021 12057 Views 1 comment Print

It has now been decided to introduce the ‘Revised Transport and Marketing Assistance (TMA) for Specified Agriculture Products Scheme’ for the exports effected on or after 01.04.2021. The earlier scheme would remain in operation for the exports effected up to 31.03.2021.

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