Friday, August 14, 2020

News Updates

GST Non-filers to face Stern Action: GST Dept

The taxpayers who do not file their GST returns for the period 2017-18 by August 31st will face very consequences including huge penalty, Chief Commissioner of Customs and CGST Visakhapatnam Zone, Naresh...

DGGI (HQs) arrests Two Persons in cases of Fraudulent IGST Refund Claims

Two Arrests have been made by the Directorate General of GST Intelligence (HQs) in cases of fraudulent IGST refund claims here, today. As per the statement of the DGGI (HQs), the action...

CBDT takes Further Steps to ensure Transparency in Tax Administration by bringing in concept of DIN

With a view to bringing greater transparency in the functioning of the tax-administration and improvement in service delivery, almost all notices and orders of Income Tax Department are being generated electronically on...

Competition Law Review Committee recommends ‘Green Channel’ for Combination Notifications to Enable Fast-Paced Regulatory Approvals of Mergers and Acquisitions

Shri Injeti Srinivas, Secretary (Corporate Affairs), today presented the Report of the Competition Law Review Committee to the Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman. The Committee consulted various stakeholders, including industry...

Income Tax Department conducts Searches in Tamil Nadu net more than Rs 700 cr

The Income Tax Department conducted a search and seizure operation on 06.08.2019 in the case of one of the major producers of beer and IMFL in Tamil Nadu. The search action was...

ICSI urges Inclusion of Company Secretary in the Definition of ‘Accountant’ [Read Letter]

The Institute of Company Secretaries of India ( ICSI ) has urged inclusion of Company Secretary in the definition of ‘Accountant’ given under explanation to Section 288 (2) of the Income Tax...

ICAI likely to announce CA Final Examination Results Next Week

The Institute of Chartered Accountants of India ( ICAI ) likely to announce Chartered Accountants CA Final Examination results on 14th August 2019. In an announcement issued by the ICAI said that, The...

Income Tax Dept. conducts Search on a prominent Real Estate Group in Mumbai

The Income Tax Department conducted Search and Seizure operation on 29.07.2019 on a prominent group involved in Real Estate Development, covering more than 40 premises across Mumbai and Pune.  During the course...

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SEBI notifies on Procedural Guidelines for Proxy Advisors

The Securities Exchange Board of India (SEBI) has notified the procedural guidelines for proxy advisors. According to SEBI (Research Analyst) Regulations, 2014,...