CAclubindia News

CBIC releases updated rate of exchange of conversion w.e.f 5th March, 2021

04 March 2021 at 17:18

CBIC determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 5th March, 2021

Posted in Custom | 2046 Views

Case Study Digest at CA Final Level released by ICAI

04 March 2021 at 12:58

The Board of Studies, in its endeavour to assist students in attempting a case study based paper, has come out with a Case Study Digest in each of the six elective papers [Paper 6A to 6F] at the Final level.

Posted in Students | 8931 Views

Upcoming changes in Table-12 format of GSTR-1 Return

04 March 2021 at 11:12

CBIC, via their official Twitter handle, have made the taxpayers aware of the upcoming changes in Table 12 of GSTR-1 Return. These include changes w.r.t the format and number of digits of HSN Code.

Posted in GST | 20160 Views

CBDT issues clarification in respect of Residency under the IT Act, 1961

03 March 2021 at 22:48

Vide Circular No.2 of 2021, it has been provided that if any individual is facing double taxation even after taking into account the relief provided by the relevant DTAA, he/she may furnish the specified information by 31st March, 2021.

Posted in Income Tax | 12900 Views

Technical Cell of ICMAI releases Guidance Note on Local Content

03 March 2021 at 21:18

ICMAI has developed this Guidance Note to help the members in assessing the facts and circumstances involved in providing certification for local/indigenous content in the manufacturing/production of goods & services.

Posted in Others | 1662 Views

CBDT issues refunds of over Rs. 1,98,106 crore between 1st April, 2020 to 28th February, 2021

03 March 2021 at 20:21

Income tax refunds of Rs. 70,572 crore have been issued in 1,92,45,556 cases & corporate tax refunds of Rs. 1,27,534 crore have been issued in 2,19,050 cases.

Posted in Income Tax | 1155 Views

IT Department conducts raid at the properties of film director Anurag Kashyap and actor Taapsee Pannu

03 March 2021 at 14:19

The Income Tax Department today carried out raids at the properties of film director Anurag Kashyap, actor Taapsee Pannu and filmmaker Vikas Bahl.

Posted in Income Tax | 18918 Views

Cross border payments for use of software not taxable as royalty

03 March 2021 at 12:13

The Supreme Court on 2nd March 2021 held that Indian Companies need not deduct tax for the amount they pay foreign manufacturers and suppliers for use or re-sale of computer software through end-user license agreements (EULA).

Posted in Income Tax | 2658 Views

Insurance Ombudsman (Amendment) Rules, 2021

03 March 2021 at 05:00

Insurance Ombudsman (Amendment) Rules, 2020, were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated 22nd December 2020.

Posted in Others | 1947 Views

Comments on ED SQC extended upto 17th March 2021

02 March 2021 at 22:02

The Cost Auditing and Assurance Standards Board (CAASB), the standard-setting body of the Institute, in its 39th meeting finalised the Exposure Draft of Standard on Quality Control (ED SQC) and approved its release seeking views of all stakeholders.

Posted in Corporate Law | 1428 Views