Daily Updates

Extension in last date of filing QPRs/APRs by SEZ upto 31st Dec 2021.   [Circular No. K-43022/7/2020-SEZ dtd 29th June 2021]

Basic custom duty on Crude Palm Oil & Palm Oil reduced. [Notification No. 34/2021-Customs/[G.S.R. 449 (E)] –  29/06/2021]

Anti-Dumping Duty On ‘Tyre Curing For Tyres Extended. [Notification No. 35/2021-Customs (ADD) dtd 29th June, 2021]

Anti-Dumping duty on ‘Hot-Rolled flat products of alloy or non-alloy steel’ Extended. [Notification No. 36/2021-Customs (ADD) dtd 29th June, 2021]

Anti-Dumping duty on ‘Cold-Rolled flat products of alloy or non-alloy steel’ extended. [Notification No. 37/2021-Customs (ADD) dtd 29th June, 2021]

Sunset Review of Anti-Dumping Duty imposed on Imports of Clear Float Glass originating in or exported from Iran. [Notification no. F. No. 7/15/2021-DGTR Dated: 29th June, 2021]

Amendment as enacted in the Finance Bill w.r.t. LIC Act 1956 has been notified and this has been made effective from 30th June 2021.  [Notification dtd 29th June, 2021]

Hon Finance Minister announced the package for Economic Relief From Pandemic Rs. 1.1 Lakh Cr Loan Guarantee Scheme for COVID Affected Sectors (Health Sector: Rs. 50,000 Cr @7.95% interest and Rs. 60,000 Cr for other sectors @8.25%) Additional Rs 1.5 lakh Cr for Emergency Credit Line Guarantee Scheme Credit Guarantee Scheme to Facilitate Loans to 25 Lakh Persons Through Micro Finance …

Hon Finance Minister announced the package for Economic Relief From Pandemic.(29.06.2021) Read More »

Guidelines for Managing Risk in Outsourcing of Financial Services by Co-operative Banks. [RBI Circular RBI/2021-22/64 DOR.ORG.REC.27/21.04.158/2021-22 dtd June 28, 2021]

Import of potatoes from Bhutan allowed without license till 30.06.2022. [Notification No. 9/2015-2020 dtd 28/06/2021]

NCLT to start Regular Hearings from 1.07.2021 through Video Conferencing.

The Equalization Levy Statement in Form No. 1 for the Financial Year 2020-21, which is required to be filed on or before 30th June, 2021, may be furnished on or before 31st July, 2021.

Appointment of Chief Risk Officer in Primary (Urban) Co-operative Banks is made mandatory at senior level with instructions of adequate staffing. [RBI/2021-2022/62 DOR.CRE(DIR).REC.26/21.04.103/2021-22 dtd June 25, 2021]

Extended Due Dates for Income Tax Compliances

Exercising of option to withdraw pending application under Settlement Commissioner under Section 245M(1)  of the Act in Form No. 34BB which is required to be exercised on or before 27th June, 2021 may be exercised on or before 31st July, 2021.

Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending on 30th June, 2021, which is required to be uploaded on or before 15th July,2021, may be uploaded by 31st August,2021.

Relaxation has been provided to furnish Annual Statement required under section 9A(5) of the Act by the eligible investment fund in Form No. 3CEK for the Financial Year 2020-21 from 29th June, 2021 to 31st July,2021.  

Extension of time limit has been extended to furnish Quarterly Statement in Form No. 15CC  by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021, required to be furnished on or before 15th July, 2021 under Rule 37 BB of the Rules, upto  31st July, 2021.  

Extension has been granted for compliances to be made between 1st April, 2021 to 29th September, 2021 under Capital Gains Exemption u/s 54 to 54GB may be completed upto 30th September, 2021. (IT Circular no. 12/2021 dated 25th June, 2021)

Relaxation has been provided for application under Section 10(23C), 12AB, 35{l)(ii)/(iia)/(iii) and 80G of the Act in Form No. 10A/ Form No.10AB, for registration/ provisional registration/ intimation/ approval/ provisional approval of Trusts/ Institutions/ Research Associations etc. which are required to be made on or before 30th June, 2021, may be made on or before 31st …

Relaxation has been provided for application under Section 10(23C), 12AB, 35{l)(ii)/(iia)/(iii) and 80G of the Act in Form No. 10A/ Form No.10AB.(26.06.2021) Read More »