The Central Board of Direct Taxes (CBDT) vide its Circular 10/2021 dated 25th May 2021 clarifies that if different relaxation are available to the taxpayers for particular compliance, the taxpayer is entitled to the relaxation which is more beneficial to him. The full text of the Circular is as follows:- Circular No. 10/2021 F .NO.225/49/2021/ITA-1I Government
The Central Board of Direct Taxes (CBDT) vide its Notification No 68/2021 dated 24th May 2021 notify the Rule 11UAE for computation of fair market value of capital assets for the purposes of section 50B of the Income Tax Act 1961. The full text of the notification is as follows:- MINISTRY OF FINANCE (Department of
GST on Goods Transport Agency (GTA) Vs Goods Transport Operator (GTO) There is an ongoing confusion amongst the business organizations and finance professional with respect to the applicability, taxability and exemption in GTA and GTO services under GST Law. Here we would like to highlight key impacts, definition, taxability and exemption to GTA and GTO
The Ministry of Corporate Affairs (MCA) vide its Circular Dated 20th May 2021 clarified on offsetting the excess CSR spent for FY 2019-20. Keeping in view the spread of COVID-19 in India, an appeal dated 30.03.2020 was made to MDs/CEOs of top 1000 companies in terms of market capitalization, to contribute generously to “Prime Minister’s
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 148/04/2021 – GST dated 18th May 2021 notify the Standard Operating Procedure (SOP) for implementation of the provision of extension of time limit to apply for revocation of cancellation of registration under section 30 of the CGST Act, 2017 and rule 23
The Central Board of Indirect Taxes and Customs (CBIC) vide its Circular No 10/2021 – Customs dated 17th May 2021 notify the changes introduced through the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021. The said rules have been introduced keeping in view the demands from the trade and industry and
In continuation of the Government of India Notification regarding issuance of Sovereign Gold Bonds (SGB) dated 12th May 2021, SGB 2021-22 Series – I will be opened for subscription during the period 17th May 2021 to 25th May 2021. The issue price of the Bond during the subscription period shall be Rs 4,777 (Rupees Four
The Government of India, in consultation with the Reserve Bank of India, has decided to issue Sovereign Gold Bonds. The Sovereign Gold Bonds will be issued in six tranches from May 2021 to September 2021as per the calendar specified below: S. No. Tranche Date of Subscription Date of Issuance 1. 2021-22- Series I May 17-21,
Sovereign Gold Bonds (SGBs) are the best alternative to investing in physical gold. These bonds give you the appreciation in capital invested and the Government also pays the interest at the rate of 2.5% per annum (on quarterly basis). These bond also reduces the various risk associated with the physical gold. Followings are the some
The Employees State Insurance Corporation (ESIC) vide Press Release Dated 12th May 2021 extends the last date of payment of ESI contribution for the month of April 2021 from 15th May 2021 to 15th June 2021 considering the COVID-19 challenging condition in the country. The country is dealing with a very challenging situation due to
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