shivangiverma10
September 9, 2021
1. The Market Regulator, Security, and Exchange Board of India (SEBI) on Tuesday have notified the Principal officer having decision-making authority related to fund management, to obtain certification from the National Institute of Securities Markets. “The associated persons functioning as principal officer of a Portfolio Manager …
shivangiverma10
September 9, 2021
The Chennai Bench of Customs, Excises and Service Tax Appellate Tribunal (CESTAT) quashed the Order imposing Penalty on Customs Brokers as against the Principles of Natural Justice. Facts of the case:- The appellant, M/s. Seaswan Shipping and Logistics who is a Customs Broker is aggrieved by …
shivangiverma10
September 9, 2021
1. The Institute of Chartered Accountants of India (ICAI) notified the panel for scrutiny of nominations for elections to its Twenty-Fifth Council and Twenty Fourth Regional Councils. 2. The ICAI empowered under sub-rule (3) of rule 12 of the Chartered Accountants (Election to the Council) Rules, …
shivangiverma10
September 8, 2021
1. The e-Filing portal of the Income Tax Department (www.incometax.gov.in) was launched on 7th June 2021. Taxpayers and professionals have reported glitches and difficulties in the portal since then. The Ministry of Finance has been regularly monitoring the resolution of issues with Infosys Ltd which is …
shivangiverma10
September 8, 2021
The Union Cabinet, chaired by Prime Minister Shri Narendra Modi, has approved the signing Memorandum of Understanding between The Institute of Chartered Accountants of India (ICAI) & The Chamber of Auditors of the Republic of Azerbaijan (CAAR) Details: The signing of Memorandum of Understanding between (ICAI) …
shivangiverma10
September 6, 2021
The Income Tax Appellate Tribunal (ITAT), Bangalore has granted partial relief to Google Ireland where the Tribunal expedited the hearing and posted the matter for final hearing on 16th September 2021. Facts of the case:- The Assessing Officer has assessed an income of Rs.93.66 crores as …
shivangiverma10
September 6, 2021
Judgment:- The Kerala High Court ruled that the E-Way Bill is not required for transportation of ‘Used Personal Vehicle’. Facts of the case:- The Respondents, VST, and Sons have filed the writ petition challenging the detention of the ‘RANGE ROVER’ motor vehicle belonging to the respondent …
shivangiverma10
September 6, 2021
In the Union Budget 2021, the finance minister Nirmala Sitharaman announced that senior citizens above the age of 75 years, who only have pension and interest as a source of income will be exempted from filing the income tax returns. During the budget speech, Sitharaman said, …
shivangiverma10
September 6, 2021
1. The Securities Exchange Board of India ( SEBI ) has directed the investors to link PAN with Aadhaar before September 30th, 2021. 2. As per Central Board of Direct Taxes (CBDT) notification G.S.R 112(E) dated February 13, 2020, the Permanent Account Number (PAN) of a …
shivangiverma10
September 5, 2021
Judgement:- In relief to the Reliance Industries, the Mumbai Bench of Income Tax Appellate Tribunal (ITAT) ruled that the revision by Pr. CIT(A) was not justified in case AO conducted the proper enquiry. Facts of the case:- As per the provisions of Section 263 of Income …
