Wednesday, 23 June 2021

Daily digest for Gupta Chandan & Associates, on June 23, 2021

posted: "INCOME TAX : Where Assessing Officer noted that there was difference between contractual receipts declared by assessee-company in its books of account from a company (Alstom) for previous year 2014-15 and income as was reflected in Form No. 26AS paid by A"
posted: "A meeting was held between senior officials of the Finance Ministry and Infosys on 22.06.2021 on issues in the new Income Tax Portal. The Finance Minister, Smt. Sitharaman asked Infosys to address all issues without further loss of time, improve their se"
posted: "CBIC issued clarification on applicability of Central Excise exemption on Ethanol/ Methanol blended Petrol, and High-speed diesel blended with bio-diesel, when blending is done within the refineryCBIC issued clarification on applicability of Central Excis"
posted: "INCOME TAX : Where difference between amount shown as turnover by assessee and as reflected in Form 26AS took place due to wrong data entry/information and lack of corresponding services by deductee to deductor, Form 26AS alone could not lead to addition "
posted: "INCOME TAX : where assessee - Company was ready to carry on business in previous year, it could safely be concluded that business had been set-up and, therefore, expenditure incurred prior to launch of physical trading outlet would be allowableINCOME TAX "
posted: "INCOME TAX : Where a Hindu family was never assessed as a HUF, Section 171 will not apply even when there is a division or partition of property which does not answer to definition of "partition" in Explanation to Section 171INCOME TAX : Where a Hindu fam"
posted: "EXCISE/ST/VAT : Where assessee against order of Adjudicating Authority filed appeal and Commissioner (Appeals) rejected appeal because of non-deposit of amount required for entertaining appeal as per provisions of section 35F, assessee was to be permitted"
posted: "The CBDT has directed that 'Director General of Income-tax (Systems), New Delhi shall be the specified income-tax authority for furnishing information to the "Tax Deductor/Tax Collector', to identify the Specified Persons' for the purposes of section 206A"
posted: "The Govt. has notified the Special Economic Zones (Amendment) Rules, 2021 wherein new rule 21A for Setting up of Unit by Multilateral or Unilateral or International agencies in International Financial Services Centre has been inserted. The Multilateral ag"
posted: "CBIC has advised all Custom Officers to mandatorily make use of the CRCL module to forward Test Memos for testing of samples to CRCL and other Revenue Laboratories from 01.07.2021 onwards. DG Systems has enabled a 'CRCL module' in ICES with the objective "
posted: "To ease the compliance burden on tax deductor and tax collector in complying with provisions of section 206AB and 206CCA, the CBDT has introduced a new functionality "Compliance Check for Sections 206AB amp; 206CCA". This functionality is made available t"

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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....