Friday, 1 October 2021

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

posted: "INCOME TAX : Where assessee company debited ESOP expenditure of certain amount to its profit and loss account and same was accepted by Assessing Officer, assessee was entitled in law to raise an additional claim by way of enhancement of amount of such ESO"
posted: "INCOME TAX : Where, for assessment year 2013-14, assessee received subsidy in form of reimbursement of sales tax paid to State Government, assessee was eligible for subsidies only after commencement of commercial production and quantum of subsidy depended"
posted: "SEBI has extended the timeline to conduct annual compliance audit by investment advisors by 3 months. SEBI had received representations from Investment Advisers (IAs ) seeking extensions due to the Covid -19 pandemic. For the financial year ending March 3"
posted: "CBIC has issued notification to further extend the transitional provisions of Sea Cargo Manifest and Transhipment Regulations (SCMTR), 2018, till 31st December 2021 to enable submission of manifests under erstwhile regulations and to enable carriers conti"
posted: "This article provides a side-by-side comparison of the existing ODI regulations as they stand under FEMA with draft rules/ regulations for overseas investments notified by RBI.This article provides a side-by-side comparison of the existing ODI regulations"
posted: "The Ministry of Home Affairs has extended the deadline till December 31 for renewal of Foreign Contribution (Regulation) Act (FCRA) registration certificates. The Ministry had earlier given a relief up to September 30 to associations whose registration wa"
posted: "INCOME TAX : Where once a refund is declared after scrutiny proceedings and such refund is withheld, a reasoned order has to follow and in absence of any cogent reasons justifying withholding of refund due to assessee; Assessing Officer could not have kep"
posted: "The Interest rate of various small saving scheme for the December 2021 quarter shall remain unchanged from the current rate applicable for the second quarter of the Financial Year 2021-22.The Interest rate of various small saving scheme for the December 2"

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