INCOME TAX: No penalty u/s 43 of BMA for non-disclosure of foreign asset in ITR, if source of investment is well explained and/or assessee’s conduct is bonafideINCOME TAX: No penalty…
The DGFT has issued public notice to extend the validity of existing Hand Book of Procedures 2015-20 till September 30th, 2022 from March 31st, 2022.The DGFT has issued public notice…
The Bombay High Court while discussing the nature and significance of cash credits in Orient Trading Co. Ltd v. Commissioner of Income-tax [1963] 49 ITR 723 (Bom) held that when…
The interest rate for various small saving schemes for the first quarter of the Financial Year 2022-23, i.e., 01-04-2022 to 30-06-2022, shall remain unchanged from the current interest rates applicable…
EXCISE/ST/VAT : Service tax cannot be demanded for trading in cargo space by purchase of space from shipping lines/airlines and selling same to customers with mark upEXCISE/ST/VAT : Service tax…
For the smooth implementation of the amended Regulation 23 of the LODR Regulations, SEBI has clarified that there shall be no requirement to seek fresh approval from the shareholders w.r.t.…
The MoS Ministry of Commerce and Industry, Shri Som Parkash, in a written reply in the Lok Sabha stated that Govt. has undertaken numerous steps to ensure Ease of Doing…
Due to pandemic, some units shut down its operations and some have been facing financial problems. Most of the units have been availing loan facilities like Cash Credit, Overdraft, Term…
INCOME TAX : Unexplained investment in foreign asset is taxable as 'undisclosed foreign asset' under BM Act, even if it was disclosed in Schedule FA in ITRINCOME TAX : Unexplained…
In order to bring uniformity across Mutual Funds with respect to timelines for rebalancing of portfolio, the SEBI has prescribed that in the event of deviation from mandated asset allocation…