Saturday, August 8, 2020

News Updates

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...

ICAI to conduct Home based Test for Advanced ICITSS

The Institute of Chartered Accountants of India (ICAI) has been decided to conduct advanced Integrated Course on Information Technology and Soft Skills (Advanced ICITSS) – Home Based Mode for candidates registered with...

Centre releases Rs. 1,65,302 Crore as GST Compensation to States/UTs for the FY 2019-20 against Cess collection of Rs. 95,444 cr

The Central Government has recently released the GST Compensation of Rs. 13,806 crore to States for March’2020. Taking this amount into account, entire compensation up to 2019-20 has been released to States....

ITAT imposes Rs.1000 Cost on Assessee for being Negligent in Handling Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), Jabalpur bench has recently imposed a cost of Rs. 1000 on the assessee for being negligent in handling the appeal proceedings and failed to ensure the...

Govt. relaxes PMLA operation of Small Bank Accounts of trusts till Sept 30, 2020

The Government on Friday notified the relaxation under the Prevention of Money Laundering Act (PMLA), 2002  operation of small bank accounts of trusts till September 30, 2020. “In exercise of the powers conferred...

Centre notifies Establishment of Central Consumer Protection Authority [Read Notification]

The Central Government establishes the authority for the Consumer Protection as a body corporate namely Central Consumer Protection Authority (CCPA). The CCPA is established under the provisions of Chapter III of the Consumer...

Major Relief to Tata Education and Development Trust for spending in Charitable objectives outside India: ITAT disallows CIT’s demand of over 100 Cr [Read...

The Income Tax Appellate Tribunal (ITAT), Mumbai bench on Friday ruled in favor of the Tata Education and Development Trust in their appeal against commissioner income tax (CIT) appeal order wherein demand...

Delhi Customs seizes smuggled cigarettes worth more than Rs 66 Lakhs at IGI Airport

The Delhi Customs, IGI Airport, has booked a case of smuggling of Foreign Cigarettes (3700 Dundas) without pictorial warning imprinted on them on 23rd  July 2020 by 13 Indian passengers stranded in Dubai...

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