Daily digest for Gupta Chandan & Associates, on June 10, 2022

posted: "INCOME TAX : Where amount of TDS deducted was not more than Rs. 50,000 and TDS amount was deposited with interest, criminal proceedings initiated against assessee for offence under section 276B were liable to be quashedINCOME TAX : Where amount of TDS ded" Gupta Chandan & Associates HC quashed criminal proceedings against assessee for TDS default as the amount of TDS wasn't more than Rs. 50,000 Jun 10 INCOME TAX : Where amount of TDS deducted was not more than Rs. 50,000 and TDS amount was deposited with interest, criminal proceedings initiated against assessee for offence under section 276B were liable to be quashedINCOME TAX : Where amount of TDS deducted was not more than Rs. 50,000 and TDS amount was deposited with […] Read more of this post Comment 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/hc-quashed-criminal-proceedings-against-assessee-for-tds-default-as-the-amount-of-tds-wasnt-more-than-rs-50000/ Powered by Jetpack

posted: "The RBI has decided to discontinue the return w.r.t Details of guarantee availed and invoked from non-resident entities under the Foreign Exchange Management Act, 1999 with effect from the quarter ending June 2022. Earlier, RBI issued A.P. (DIR Series) ci" Gupta Chandan & Associates Now authorized persons need not file a return disclosing details of guarantee availed and invoked from NR entities: RBI Jun 10 The RBI has decided to discontinue the return w.r.t Details of guarantee availed and invoked from non-resident entities under the Foreign Exchange Management Act, 1999 with effect from the quarter ending June 2022. Earlier, RBI issued A.P. (DIR Series) circular No 26, dated February 18, 2022, wherein Authorised Persons were advised about the proposed discontinuation […] Read more of this post Comment 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/now-authorized-persons-need-not-file-a-return-disclosing-details-of-guarantee-availed-and-invoked-from-nr-entities-rbi/ Powered by Jetpack

posted: "The Govt. has notified the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022. Amended norms allow the Registrar (if he finds it necessary after examining the application made in form STK-2) to call for further " Gupta Chandan & Associates Govt. tweaks norms relating to the removal of names of companies from the registrar of Cos. Jun 10 The Govt. has notified the Companies (Removal of Names of Companies from the Register of Companies) Amendment Rules, 2022. Amended norms allow the Registrar (if he finds it necessary after examining the application made in form STK-2) to call for further information or direct the applicant to remove the defects and re-submit the complete Form […] Read more of this post Comment 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/govt-tweaks-norms-relating-to-the-removal-of-names-of-companies-from-the-registrar-of-cos/ Powered by Jetpack

posted: "The DGFT has issued public notice to extend the time limit to file annual return for EPCG scheme for FY 2022-23 till 30.09.2022.The DGFT has issued public notice to extend the time limit to file annual return for EPCG scheme for FY 2022-23 till 30.09.2022" Gupta Chandan & Associates Time limit to file annual return for EPCG scheme for FY 2022-23 extended till 30.09.2022 Jun 10 The DGFT has issued public notice to extend the time limit to file annual return for EPCG scheme for FY 2022-23 till 30.09.2022.The DGFT has issued public notice to extend the time limit to file annual return for EPCG scheme for FY 2022-23 till 30.09.2022.taxmann.com Latest Statutory HappeningsRead More Read more of this post Comment 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/time-limit-to-file-annual-return-for-epcg-scheme-for-fy-2022-23-extended-till-30-09-2022/ Powered by Jetpack

posted: "INCOME TAX : Where assessee, engaged in land dealing and development, purchased certain lands through cash payments and treated said lands as its stock-in-trade, since cash payments were not claimed as deduction under business head, no disallowance under " Gupta Chandan & Associates Provisions of sec. 40A(3) not applicable if assessee made cash payment for purchase of stock-in-trade: ITAT Jun 10 INCOME TAX : Where assessee, engaged in land dealing and development, purchased certain lands through cash payments and treated said lands as its stock-in-trade, since cash payments were not claimed as deduction under business head, no disallowance under section 40A(3) could be made by Assessing OfficerINCOME TAX : Where assessee, engaged in land dealing and […] Read more of this post Comment 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/provisions-of-sec-40a3-not-applicable-if-assessee-made-cash-payment-for-purchase-of-stock-in-trade-itat/ Powered by Jetpack