Daily digest for Gupta Chandan & Associates, on February 17, 2021

posted: "CBIC provided a procedure in cases where the records could not be transmitted from GSTN to ICEGATE portal due to mismatch in IGST Liability between GSTR-1 and GSTR-3B. The procedure covered the period from July 2017 to March 2019. Now this procedure has b" New post on Gupta Chandan & Associates CBIC extends procedure to get IGST refund in case of mismatch in IGST liability in GSTR-3B and GSTR-1 for FY 2019-20 amp; 2020-21 CBIC provided a procedure in cases where the records could not be transmitted from GSTN to ICEGATE portal due to mismatch in IGST Liability between GSTR-1 and GSTR-3B. The procedure covered the period from July 2017 to March 2019. Now this procedure has been extended for another 2 years i.e. FY 2019-20 and 2020-21CBIC provided […] Read more of this post February 17, 2021 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-XZ Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/cbic-extends-procedure-to-get-igst-refund-in-case-of-mismatch-in-igst-liability-in-gstr-3b-and-gstr-1-for-fy-2019-20-amp-2020-21/

posted: "With a view to deepen the financial markets in International Financial Services Centres (IFSCs) and provide an opportunity to resident individuals to diversify their portfolio, the extant guidelines on Liberalised Remittance Scheme (LRS) have been reviewe" New post on Gupta Chandan & Associates RBI allows resident individuals to make remittances under LRS to IFSC set up in India With a view to deepen the financial markets in International Financial Services Centres (IFSCs) and provide an opportunity to resident individuals to diversify their portfolio, the extant guidelines on Liberalised Remittance Scheme (LRS) have been reviewed and it has been decided to permit resident individuals to make remittances under LRS to IFSCs set up in […] Read more of this post February 17, 2021 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-XX Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/rbi-allows-resident-individuals-to-make-remittances-under-lrs-to-ifsc-set-up-in-india/

posted: "INCOME TAX : Prior to 1-7-2016, Form 3CL granting approval by prescribed authority in relation to quantification of weighted deduction under section 35 (2AB) had no legal sanctity and it was only with effect from 1-7-2016 with amendment to rule 6(7A)(b) t" New post on Gupta Chandan & Associates Form 3CL not required to be filed before 01-07-2016 for claiming deduction u/s 35(2AB); ITAT quashes revision INCOME TAX : Prior to 1-7-2016, Form 3CL granting approval by prescribed authority in relation to quantification of weighted deduction under section 35 (2AB) had no legal sanctity and it was only with effect from 1-7-2016 with amendment to rule 6(7A)(b) that quantification of weighted deduction under section 35(2AB) has significanceINCOME TAX : Prior to […] Read more of this post February 17, 2021 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-XW Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/form-3cl-not-required-to-be-filed-before-01-07-2016-for-claiming-deduction-u-s-352ab-itat-quashes-revision/

posted: "INCOME TAX : Disallowance made under section 14A read with rule 8D is to be carried out on basis of netting of interest expenditureINCOME TAX : Disallowance made under section 14A read with rule 8D is to be carried out on basis of netting of interest expe" New post on Gupta Chandan & Associates Entries in books of account isn't a decisive factor to determine deduction u/s 44C INCOME TAX : Disallowance made under section 14A read with rule 8D is to be carried out on basis of netting of interest expenditureINCOME TAX : Disallowance made under section 14A read with rule 8D is to be carried out on basis of netting of interest expenditurewww.taxmann.com Latest Case LawsRead More Read more of this post February 17, 2021 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-XV Comment    See all comments Unsubscribe to no longer receive posts from Gupta Chandan & Associates. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.guptachandanassociates.com/news/entries-in-books-of-account-isnt-a-decisive-factor-to-determine-deduction-u-s-44c/