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Govt. notifies Foreign Exchange Management (Non-debt Instruments) (Third Amendment) Rules, 2020

Taxscan Team

The Central Government vide notification dated 27th July, 2020 has issued the Foreign Exchange Management (Non-debt Instruments) (Third Amendment)...

DGFT allows Export of PPE Kits, Masks with certain limitations [Read Notification]

ICMAI - Examinations - enrolment Foundation - registration - Taxscan

ICMAI extends deadline of Admission / Registration / Enrollment for Foundation, Intermediate and...

ICMAI issues FAQs on Standards on Cost Auditing

CBDT again extends Due date of filing Income Tax Returns for FY 2018-19 [Read Notification]

Merging of June 2020 to December 2020 CS Examination: ICSI issues FAQs

The Institute of Company Secretaries of India( ICSI ) has issued Frequently Asked Questions (FAQs) on Merging of June 2020 to December 2020 CS Examination. In continuation to Important Announcement...

COVID 19 - Tax Losses – Back for a Better Future

Tax Losses Carryback (‘TLCB’) is a system that allows taxpayers to set-off losses of the current year against the profits of past years. Globally, at least 20 countries have some form of TLCB system...

Annual Return on Foreign Liabilities and Assets (FLA Return) Under FEMA 1999

As more companies involve themselves with foreign investments, the importance of the Foreign Exchange Management Act (FEMA) regulations and their compliance becomes a major part of the company’s...

GST vigilance team searches on Aurangabad and Nashik based Breweries

Simultaneous searches were conducted on 24th/25th July 2020 by the officers of DGGI, Aurangabad Regional Unit, and Nashik Regional Unit on the premises of a Multinational Brewery located at Aurangabad...

Assessing Officer can’t Reopen Assessment merely on the basis of Change of Opinion: ITAT

The Income Tax Appellate Tribunal (ITAT), Mumbai Bench held that the Assessing Officer (AO) cannot reopen the assessment merely on the basis of change of opinion and directed the AO to restrict the...

AO not justified when the reasons for initiation of proceedings Seized to Survive: ITAT [Read Order]

The Income Tax Appellate Tribunal (ITAT), Delhi Bench held that the AO exceeded his jurisdiction in reassessing issues other than the issues in respect of which the proceedings are initiated and...

EPFO updates KYC for 73.58 lakh Subscribers during April-June 2020

To extend the availability and reach of its online services, which have become crucial in the wake of the COVID-19 pandemic, EPFO updated Know your Customer (KYC) data for its 73.58 lakh subscribers...

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