The total fake Input Tax Credit passed on by such fictitious intermediatory companies is quantified to be Rs. 92.18 crore whereas, the total fake Input Tax Credit passed on by other fictitious and non-existent firms
F. No. IT(A)/1/2020-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi Circular No. 03 of 2021 Dated 4th March, 2021 Sub.: Circular under section 10 of the Direct Tax Vivad se Vishwas Act, 2020 – reg. (“Vivad se Vishwas”) was enacted on 17th March, 2020 with the objective of inter cilia reducing […]
Indian food company Parle started using the same design as Oreo biscuit for its product “Fabio”. Though the names of both the biscuits are entirely different, Parle has allegedly copied the design of the packaging and its design of the biscuit itself.
The Central Board of Direct Taxes has sought information from the individuals who are facing double taxation even after taking into account relief provided under the Double Taxation Avoidance Agreement. In a circular issued by CBDT, it has been asked to submit the information by 31st March to the Principal Chief Commissioner of Income Tax […]
The Central Board of the EPFO today recommended 8.5 per cent annual rate of interest for the financial year 2020-21. The decision was taken in the 228th meeting of Central Board of Trustees, EPF which was held on Thursday in Srinagar, Jammu & Kashmir under the chairmanship of Labour Minister Santosh Kumar Gangwar. The Minister […]
Bengaluru, Pune, Ahmedabad best cities in EoLI 2020 (Million Plus Category) Shimla ranked first in EoLI 2020 (Less than Million Category) Indore and NDMC leading municipalities in MPI 2020 Both indices provide holistic assessment of cities Rankings for Ease of Living Index 2020 and Municipal Performance Index 2020 announced Minister for Housing and Urban Affairs […]
India sponsored UN resolution on International Year of Millets 2023 was adopted by consensus in the United Nations General Assembly. India’s Permanent Representative to the United Nations T. S. Tirumurti thanked all co-sponsors especially Bangladesh, Kenya, Nepal, Nigeria, Russia and Senegal and all Member States of UN for their strong support. The 193-member UN General […]
MAKE IN INDIA- FDI equity inflow grew by 40% in the first 9 months of F.Y. 2020-21 (US$ 51.47 billion)
India attracted total FDI inflow of US$ 67.54 billion during April to December 2020 Foreign Direct Investment (FDI) is a major driver of economic growth and an important source of non-debt finance for the economic development of India. It has been the endeavor of the Government to put in place an enabling and investor friendly […]
Income Tax Department Conducts Searches at Residence and Offices of Taapsee Pannu, Anurag Kashyap and Others
The Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. Search operation is being carried out at Mumbai, Pune, Delhi and Hyderabad. The group is mainly engaged in the business of Production of Motion Pictures, Web Series, acting, direction and talent Management of celebrities and other artists. A total of 28 premises are being covered in different locations which includes residences and offices.