- GIST OF CIRCULARS
- GIST OF NOTIFICATIONS
- GIST OF NOTIFICATIONS ISSUED ON 30th SEPTEMBER, 2019
- Clarifications in respect of option exercised under section 115BAA of the Income- tax Act, 1961 inserted through The Taxation Laws (Amendment) Ordinance, 2019- reg.
- Income Tax Return – Extensive Information asked
December 2019 M T W T F S S « Oct 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
CBDT withdraws Circular on 56(2)(viia) applicability to fresh issuance of shares; Cites subjudice matters
CBDT clarifies that Sec. 56(2)(viia) shall not apply to receipt of shares by a closely held company (specified co.) or a firm on fresh issuance of shares; Takes note of representations that the term ‘receives’ used in 56(2)(viia), being of wider import, might lead to “taxation of income in the cases where the shares are received by a firm or specified co. as a result of the fresh issuance of shares including by way of issue of bonus shares, rights shares and preference shares or transactions of similar nature”;
CBDT has issued Final Notification under section 112A(4) specifying nature of equity share acquisitions in respect of which requirement of payment of Securities Transaction Tax would not apply for 10% LTCG tax, no major changes vis-à-vis the draft notification;
CBDT issue press release dated 17.09.2018 announcing tax exemption for interest payable by an Indian company or a business trust to a non-resident or foreign company in respect of rupee denominated bond issued outside India during September 17th, 2018 to March 31st, 2019.
Due Date for furnishing FORM GSTR-1 for the period from July 2017 to September 2018 has been extended till October 31, 2018 for all registered persons having the aggregate turnover above Rs 1.5 crores; This includes registered persons in Kerala, or whose principal place of business is in Kodagu (Karnataka) and Mahe (Puducherry).