Daily digest for Gupta Chandan & Associates, on March 31, 2021

posted: "COMPETITION LAW : Where Google had incorporated Google Meet tab in Gmail app but Gmail did not coerce users to use Meet and consumers were also at freewill to use either Meet or any other VC app for video conferencing, no case was made out against Google " New post on Gupta Chandan & Associates Gmail didn't abuse its dominant position by integrating "Google Meet" tab into Gmail app : CCI COMPETITION LAW : Where Google had incorporated Google Meet tab in Gmail app but Gmail did not coerce users to use Meet and consumers were also at freewill to use either Meet or any other VC app for video conferencing, no case was made out against Google for abuse of dominant positionCOMPETITION LAW : Where […] Read more of this post March 31, 2021 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-1b5 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/gmail-didnt-abuse-its-dominant-position-by-integrating-google-meet-tab-into-gmail-app-cci/

posted: "INCOME TAX : Where assessee failed to prove that payments of sales commission made to foreign firms were in connection with business of assessee, deduction was rightly disallowedINCOME TAX : Where assessee failed to prove that payments of sales commission" New post on Gupta Chandan & Associates Deduction for sales commission not allowable as assessee failed to prove that exp. was incurred for business INCOME TAX : Where assessee failed to prove that payments of sales commission made to foreign firms were in connection with business of assessee, deduction was rightly disallowedINCOME TAX : Where assessee failed to prove that payments of sales commission made to foreign firms were in connection with business of assessee, deduction was rightly disallowedwww.taxmann.com […] Read more of this post March 31, 2021 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-1b4 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/deduction-for-sales-commission-not-allowable-as-assessee-failed-to-prove-that-exp-was-incurred-for-business/

Daily digest for Gupta Chandan & Associates, on March 30, 2021

posted: "Whenever a new section is introduced or a section in the statute book amended by the Legislature to bring in better clarity, it is earnestly believed by taxmen, professionals and tax paying public that there would be no legal disputes with regard to inter" New post on Gupta Chandan & Associates Difference between fine and penalty- A never ending controversy Whenever a new section is introduced or a section in the statute book amended by the Legislature to bring in better clarity, it is earnestly believed by taxmen, professionals and tax paying public that there would be no legal disputes with regard to interpretation of such amended provisions of the section.Whenever a new section is […] Read more of this post March 30, 2021 at 12:00 am | Categories: News, Taxman Articles | URL: https://wp.me/pcenIR-1aV 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/difference-between-fine-and-penalty-a-never-ending-controversy/

Daily digest for Gupta Chandan & Associates, on March 29, 2021

posted: "The Finance Bill, 2021 has received the assent of the President, Shri Ram Nath Kovind, on 28th March, 2021. The Finance Act, 2021 (No. 13 of 2021) contains 172 Sections impacting more than 20 Acts. This Act shall enforce various provisions with effect fro" New post on Gupta Chandan & Associates President Ram Nath Kovind gives assent to the Finance Act, 2021 The Finance Bill, 2021 has received the assent of the President, Shri Ram Nath Kovind, on 28th March, 2021. The Finance Act, 2021 (No. 13 of 2021) contains 172 Sections impacting more than 20 Acts. This Act shall enforce various provisions with effect from 01-02-2021 (i.e., taxation of ULIPs, discontinuation of settlement commission, etc.), some […] Read more of this post March 29, 2021 at 12:00 am | Categories: News, Taxman News | URL: https://wp.me/pcenIR-1aT 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/president-ram-nath-kovind-gives-assent-to-the-finance-act-2021/

Daily digest for Gupta Chandan & Associates, on March 27, 2021

posted: "INCOME TAX : Provision towards bad and doubtful debt could not be assessed to book profit under section 115JB in year prior to insertion of clause (i) of Explanation 1 to section 115JB(2) by Finance Act, 2009 retrospectively with effect from 1-4-2001 as a" New post on Gupta Chandan & Associates Amendment to MAT provision has no retro-effect as it couldn't be applied to period which has already elapsed INCOME TAX : Provision towards bad and doubtful debt could not be assessed to book profit under section 115JB in year prior to insertion of clause (i) of Explanation 1 to section 115JB(2) by Finance Act, 2009 retrospectively with effect from 1-4-2001 as assessee could not have given effect to such provision which was inserted […] Read more of this post March 27, 2021 at 12:00 am | Categories: Latest Case Laws, News | URL: https://wp.me/pcenIR-1aO 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/amendment-to-mat-provision-has-no-retro-effect-as-it-couldnt-be-applied-to-period-which-has-already-elapsed/

posted: "The Central Board of Direct Taxes (CBDT) has notified new rules and forms in case of trust or institution or fund mentioned under section 10(23), 35, 12A, 80G. The Finance Act, 2020 has rationalization of provisions related to registration and re-registra" New post on Gupta Chandan & Associates CBDT notifies new Rules amp; Forms for registration and approval of trusts, institutions and funds The Central Board of Direct Taxes (CBDT) has notified new rules and forms in case of trust or institution or fund mentioned under section 10(23), 35, 12A, 80G. The Finance Act, 2020 has rationalization of provisions related to registration and re-registration of such trusts and institutions.The Central Board of Direct Taxes (CBDT) has notified new […] Read more of this post March 27, 2021 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-1aN 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/cbdt-notifies-new-rules-amp-forms-for-registration-and-approval-of-trusts-institutions-and-funds/

posted: "The Central Board of Direct Taxes (CBDT) has notified new rules and forms in case of trust or institution or fund mentioned under section 10(23), 35, 12A, 80G. The Finance Act, 2020 has rationalization of provisions related to registration and re-registra" New post on Gupta Chandan & Associates CBDT notifies new Rules amp; Forms for Trusts, institutions and funds The Central Board of Direct Taxes (CBDT) has notified new rules and forms in case of trust or institution or fund mentioned under section 10(23), 35, 12A, 80G. The Finance Act, 2020 has rationalization of provisions related to registration and re-registration of such trusts and institutions.The Central Board of Direct Taxes (CBDT) has notified new […] Read more of this post March 27, 2021 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-1aM 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/cbdt-notifies-new-rules-amp-forms-for-trusts-institutions-and-funds/

posted: "The Central Board of Direct Taxes (CBDT) has issues instructions to the Principal Chief Commissioners of Income-tax to resolve the issue of allotment of one PAN to two persons and in rare cases even to more than two persons. The Board has partially modifi" New post on Gupta Chandan & Associates CBDT modified instructions to resolve issue of allotment of one PAN to two or more taxpayers The Central Board of Direct Taxes (CBDT) has issues instructions to the Principal Chief Commissioners of Income-tax to resolve the issue of allotment of one PAN to two persons and in rare cases even to more than two persons. The Board has partially modified AIS Instruction No. 82 dated 21.06.2013.The Central Board of Direct Taxes […] Read more of this post March 27, 2021 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-1aL 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/cbdt-modified-instructions-to-resolve-issue-of-allotment-of-one-pan-to-two-or-more-taxpayers/

posted: "To facilitate accounting of all the Government transactions for the current financial year (2020-21) by March 31, 2021, the RBI has been decided to conduct Special Clearing exclusively for Government Cheques across the three CTS grids on March 31, 2021.To" New post on Gupta Chandan & Associates RBI to conduct Special Clearing operation for Government Cheques across on March 31, 2021 To facilitate accounting of all the Government transactions for the current financial year (2020-21) by March 31, 2021, the RBI has been decided to conduct Special Clearing exclusively for Government Cheques across the three CTS grids on March 31, 2021.To facilitate accounting of all the Government transactions for the current financial year (2020-21) by March […] Read more of this post March 27, 2021 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-1aK 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-to-conduct-special-clearing-operation-for-government-cheques-across-on-march-31-2021/

posted: "The market regular, SEBI has issued new registration norms for transferring of business by intermediaries whereby it has been clarified that transferee shall obtain fresh registration from SEBI in the same capacity before the transfer of business if it is" New post on Gupta Chandan & Associates SEBI issues registration norms on transfer of business by intermediaries The market regular, SEBI has issued new registration norms for transferring of business by intermediaries whereby it has been clarified that transferee shall obtain fresh registration from SEBI in the same capacity before the transfer of business if it is not registered with SEBI in the same capacity.The market regular, SEBI has issued new registration […] Read more of this post March 27, 2021 at 12:00 am | Categories: Latest Statutory Happenings, News | URL: https://wp.me/pcenIR-1aJ 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/sebi-issues-registration-norms-on-transfer-of-business-by-intermediaries/