Wednesday, 30 June 2021

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

posted: "INCOME TAX : Correct procedure for calculating receipts in case of income from business and profession in case of currency conversion is Explanation 2(c) to rule 115(1) without taking into account proviso to rule 115(1)INCOME TAX : Correct procedure for c"
posted: "The Government has issued notification to reduce the import duty on Crude Palm Oil and now 10% duty shall be leviable. This notification shall come into effect on 30th June 2021 and will remain in force upto and inclusive of the 30th September, 2021.The G"
posted: "The SEBI Board has considered and approved the proposals relating to the review and merger of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 into a single Regulat"
posted: "The Central Government has appointed the 30th day of June, 2021 as the date on which the amendments to the Life Insurance Corporation Act, 1956 shall come into forceThe Central Government has appointed the 30th day of June, 2021 as the date on which the a"
posted: "CIT (National Faceless Assessment Centre) has designated the web portal www.incometax.gov.in as the "designated portal" for the purpose of Faceless Assessment in terms of Explanation (i) to section144B(1) of the Income-tax Act.CIT (National Faceless Asses"
posted: "The SEBI has issued informal guidance with the regard to registration in 'Investment advisory' (IA) regulation. It has clarified that NRI or POI intends to offer investment advisory to clients in India needs to take registration under IA regulations. In c"
posted: "FEMA amp; BANKING INSURANCE : Where complainant filed a case under section 138 against accused on ground that cheque issued by accused to discharge his liability towards Joint work executed by Complainant with accused had been dishonoured however, he fail"
posted: "In order to improve the efficiency of the use of the margin capital by market participants, the SEBI has decided to introduce cross margin benefit between Commodity Index futures and futures of its underlying constituents or its variants. This shall reduc"
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Tuesday, 29 June 2021

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

posted: "INCOME TAX : Where purported transaction of land between assessee-seller and buyer did not materialise and land was not transferred to said buyer, addition under section 69 on basis of seized agreement was not justifiedINCOME TAX : Where purported transac"
posted: "INCOME TAX : Where assessee had wrongly claimed income in question as agricultural income and claimed same as exempt, Assessing Officer was justified in treating said income as income from other sourcesINCOME TAX : Where assessee had wrongly claimed incom"
posted: "The Union Finance Minister Nirmala Sitharaman addressed a press conference at 3 pm on Monday, 28 June 2021 wherein, the FM announced various reliefs for sectors that were badly affected by second wave of Covid -19 Pandemic. The second wave of coronavirus "
posted: "The Finance Minister has announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors. The scheme would include Rs 50,000 crore loan to the health sector aimed at scaling medical infrastructure targeting underserved areas. The scheme would"
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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....