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Import policy of items under Chapter 26 & 27 of ITC (HS), 2017 amended

March 18, 2020 3186 Views 0 comment Print

Revision has been carried out in the Policy and Policy conditions for Zinc Dross, Light Naphtha, Heavy Naphtha, Full Range Naphtha and Aviation Gasoline.

Direct Tax Vivad Se Vishwas Rules 2020

March 18, 2020 32289 Views 1 comment Print

After Assent by President of  of Direct Tax Vivad se Vishwas Act, 2020, CBDT notifies Direct Tax Vivad Se Vishwas Rules 2020 alongwith Relevant Forms which includes Form 1 to Form 5. vide Notification No. 18/2020-Income Tax Dated 18th Mach, 2020. Also Read- Corrigendum to Form-3 of Direct Tax Vivad se Vishwas Rules, 2020 MINISTRY […]

One-time Relaxation to Employers- ESI contribution- April 19 to Sep 19

March 18, 2020 6004 Views 0 comment Print

One-time Relaxation to those Employers who did not file ESI contribution for the contribution period April, 2019 to September, 2019 within 42 days.

Sunset review Investigation concerning imports of “Flexible Slabstock Polyol” from Singapore

March 17, 2020 762 Views 0 comment Print

The original investigation was initiated to examine the nature and extent of dumping and its effect on the situation of the Domestic Industry with respect to Flexible Slabstock Polyol originating in or exported from Singapore, Australia and EU.

RBI clarifies on creation of Investment Fluctuation Reserve (IFR)

March 17, 2020 4125 Views 0 comment Print

Some banks have enquired whether IFR, forming part of General Provisions and Loss Reserves, can be reckoned as Tier II capital only to the extent of 1.25% of total credit risk weighted assets. It is clarified that there is no such ceiling for IFR.

Senior Citizens Welfare Fund deposit – 6.85% Interest Rate for FY 2019-20

March 17, 2020 1887 Views 5 comments Print

It is hereby notified that the deposits made under the Senior Citizens Welfare Fund, announced in the Ministry of Finance (Department of Economic Affairs) Notification No. G.S.R. 322(E) dated 18th March, 2016, shall with effect from 1st April, 2019 to 31st March, 2020, bear interest at 6.85% (Six point eight five percent). This rate will be in force with effect from 1st April, 2019.

President Assents Direct Tax Vivad se Vishwas Act, 2020

March 17, 2020 9822 Views 0 comment Print

President Assents Direct Tax Vivad se Vishwas Act, 2020 on 17th March, 2020 the Act will help Government to reduce Litigation on Direct Taxes and also offer an Opportunity to Taxpayers to get rid of Litigation by opting this Scheme. Full Text of the Direct Tax Vivad se Vishwas Act, 2020 is as follows- MINISTRY […]

Govt introduces Companies (Amendment) Bill, 2020 in Lok Sabha

March 17, 2020 3195 Views 0 comment Print

Government introduces Companies (Amendment) Bill, 2020 in Lok Sabha on 17th March 2020.  The Companies (Amendment) Bill, 2020, inter alia, provides for the following, namely:— (a) to decriminalise certain offences under the Act in case of defaults which can be determined objectively and which otherwise lack any element of fraud or do not involve larger […]

Govt notifies Maharashtra COVID-19 Regulations, 2020

March 14, 2020 41925 Views 0 comment Print

No person/ Institution/ organization will use any print or electronic or social media for dissemination of any information regarding COVID-19 without ascertaining the facts and prior clearance of the Commissioner, Health Services, Director of Health Services (DHS-I & II), Director, Medical Education & Research (DMER), or Collector as the case may be. This is necessary to avoid spread of any unauthenticated information and/or rumors regarding COVID-19. If any person / Institution / organization is found indulging in such activity, it will be treated as a punishable offence under these Regulations.

Notification No. 17/2020-Income Tax, Dated: 13.03.2020

March 13, 2020 5994 Views 0 comment Print

Central Government hereby specifies that a non-­resident being an Eligible Foreign Investor which operates in accordance with the Securities and Exchange Board of India, circular IMD/HO/FPIC/CIR/P/2017/003 dated 04th January, 2017, shall be deemed as Foreign Institutional Investor (FII) for the purposes of transactions in securities made on a recognised stock exchange located in any International Financial Services Centre (IFSC), where the consideration for such transaction is paid or payable in foreign currency.

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