Thursday, 1 April 2021

Daily digest for Gupta Chandan & Associates, on April 1, 2021

posted: "INCOME TAX : SLP dismissed against High Court ruling that where director of assessee-company obtained cash in excess of Rs. 20,000 as loan from a financier and deposited same in cash in bank account of company, merely because director took cash loans from"
posted: "INCOME TAX : Where reopening notice was issued against assessee partner on ground that amount of interest on capital and remuneration received by him from partnership firm as per a clause in partnership deed being claimed as deduction under section 10AA b"
posted: "The Ministry of Finance has issued various FAQs relating to the Special cash package in lieu of Leave Travel concession fare. Earlier it was mentioned by the Dept. that the claims should be made and settled before 31-03-2021. Considering the difficulties "
posted: "The Govt. has notified the International Financial Services Centres Authority (Finance Company) Regulations, 2021 wherein provisions related to registration, capital ratio, exposure ceiling, permissible activities, currency of operations, know your custom"
posted: "Based on the representations received from the industry seeking additional time for implementing new rules for payment gateways and online merchant, the RBI has decided, as a one-time measure, to extend the timeline for non-bank PAs by six months, i.e., t"
posted: "The Reserve Bank of India (RBI) has come up with a circular which states that the limits for FPI investment in corporate bonds shall remain unchanged at 15 % of the outstanding stock of securities for FY 2021-22. Accordingly, the revised limits for FPI in"
posted: "The CBDT has partially amended the provisions of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 to extend various due dates expiring on 31-03-2021. The last date to link PAN with Aadhaar is 30-06-2021. Deadline to i"
posted: "COMPETITION LAW : Where informant had failed to adduce any material in support of its allegation that insurance companies were using GIC Re (reinsurance company) as a platform to exchange sensitive information, including information on prices which might "

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Daily digest for Gupta Chandan & Associates, on February 23, 2026

Income Tax Forms as applicable from 1st April 2026. Old forms under income tax Act 1961 added for better search....