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Accepting of assignment as Liquidator without holding valid AFA

October 15, 2020 1245 Views 0 comment Print

The DC further notes that an IP who is more than 70 years of age cannot make an application for the grant of AFA. Therefore, he could not apply for obtaining grant of AFA and hence, could not hold AFA.

Mission Begin Again- Maharashtra Issues new Lockdown guideline

October 14, 2020 5595 Views 0 comment Print

Following activities will be permitted outside the Containment Zones:-In areas outside the Containment Zones, all activities will be permitted, except the following: i. International Air travel of passengers, except as permitted by MHA. ii. Schools. colleges, educational and coaching institutions will continue to remain closed for students and regular class activity up to 31s’ October, 2020.

CBDT assigns role of Pr.CCsIT (Jurisdictional) and Pr. CCIT (NFAC)

October 14, 2020 3036 Views 0 comment Print

With the launch of the Faceless Appeal Scheme, 2020, the Income Tax Department is moving towards minimal interface with maximum governance. In order to effect the same, the National Faceless Appeal Centre (hereafter referred to as NFAC), Delhi has been created under Principal Chief Commissioner of Income-tax (NFAC) and 4 Regional Faceless Appeal Centres (hereinafter referred to as RFACs) under Chief Commissioner of Income-tax, (RFAC) at 4 centres,

Acceptance of voluntary liquidation assignment without holding valid AFA contravenes IP Regulations

October 13, 2020 684 Views 0 comment Print

In the present matter, Mr. Kumar accepted the assignment of voluntary liquidation in matter of Sambodhi Healthcare Private Limited and Modern Cold Storage Limited without holding valid AFA after 31.12.2019 which is in express contravention of regulation 7A of IP Regulations, which is applicable to voluntary liquidation as well. In consequence, he also contravened code […]

Revised Jurisdiction Order regarding Equalization Levy

October 12, 2020 2124 Views 0 comment Print

Principal Chief Commissioner of Income-tax (International Taxation), Delhi, in supersession of this office order no. 1/2020 dated 29.05.2020 (F.No. Pr. CCIT(IT)/Delhi/Juris./Eq. Levy/2020-21137), hereby authorise the income-tax authority/authorities specified in Col No.(2) below and having their headquarters mentioned in Column (3) and working under supervision of Range Head mentioned in Column No. (4) and Commissioner of Income-tax mentioned in Column no. (5), shall have jurisdiction in respect of the assessees specified in Column (6) for the purpose of Chapter VIII of Finance Act, 2016.

Accepting CIRP assignment after 31.12.2019 without holding a valid AFA

October 12, 2020 582 Views 0 comment Print

In view of the fact that ICSI Institute of Insolvency Professionals has already taken disciplinary action against Mr. Pranav Kumar for accepting assignment as Interim Resolution Professional after 31st December 2019 without holding a valid AFA in the matter of Crayons Advertising Private Limited, the DC, in exercise of the powers conferred under Regulation 11 of the IBBI (Insolvency Professionals) Regulations, 2016, disposes of the SCN without any direction against Mr. Pranav Kumar.

SOP for drawl of samples & surveillance by BIS Officers at Ports of Entry- reg.

October 7, 2020 2616 Views 0 comment Print

Office Of The Commissioner Of Customs (Ns-I), Appraising Main (Import),Jawahar Lal Nehru Custom House, Nhava- Sheva, Tal-Uran, Raigad-400707,Maharashtra (e-mail: appraisingmain.jnch@gov.in; Telephone No.022-27244979) F. No. S/22-Gen- 20/2020-21/AM (I)/JNCH Dated: 07.10.2020 STANDING ORDER NO. 34/2020 Sub: Standard Operating Procedure (SOP) for drawl of samples and surveillance by BIS Officers at Ports of Entry- reg. Attention of all […]

Revision of interest rates for National (Small) Savings Schemes w.e.f. 01.10.2020

October 1, 2020 1695 Views 0 comment Print

Rate of interest on various Small Savings Schemes (National Savings Schemes) for the third quarter of financial year 2020-21 (starting from 1st October ,2020 and ending on 31th December, 2020) shall remain unchanged from those notified for the second quarter of Financial Year 2020-21

Without AFA, an IP is not eligible to undertake assignments: IBBI

October 1, 2020 1686 Views 0 comment Print

one of the essential conditions for undertaking any assignment by an IP is that he should have a valid AFA which is issued by the IPA with which he is enrolled. In other words, without AFA, an IP is not eligible to undertake assignments or conduct various processes thereof after 31st December, 2019. Regulation 7A was […]

CBDT extends due date for filing ITRs for AY 2019-20 to 30.11.2020

September 30, 2020 36678 Views 3 comments Print

On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020. Order u/s 119(2a) issued. F. No. 225/150/2020-ITA-II Government of India Ministry of Finance Department of […]

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