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) …
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 …
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 …
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, …
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 …
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 …
1. The Market Regulator, Securities, and Exchange Board of India (SEBI) have issued the guidelines on Disclosure of risk-o-meter of scheme, benchmark, and portfolio details to the investors. 2. SEBI has mandated mutual funds to disclose to the investors in which the unitholders are invested as …
1. The Central Board of Direct Taxes (CBDT) has notified the Provision for Calculation of taxable interest relating to contribution in a Provident Fund (PF) exceeding the specified limit, which will be effective from 1st April 2022. 2. The Board has notified the Income-tax (25th Amendment) …
1. The broad framework of CSR has been provided in Section 135 of the Companies Act, 2013 (hereinafter referred to as ‘the Act), Schedule VII of the Act and Companies (CSR Policy) Rules, 2014 (hereinafter referred to as ‘the CSR Rules’). Further, Ministry had also issued …
1. The Central Board of Indirect taxes and Customs (CBIC) notified the extension of transitional provisions of Sea Cargo Manifest & Transhipment Regulations for cargo declaration forms. 2. The Board empowered under section 157, read with sections 30, 30A, 41, 41A, 53, 54, 56, sub-section (3) …