In 2021, we will focus on building on the good things that have come out of the past 12 months. Especially in case of Capital Gains, CPC issues. As per Section 40 (a) (ia) the amount of disallowance for non-deduction of tax is restricted to 30% of the expenditure; hence the assessee must report 100% amount in audit report and 30% amount in Income tax return as disallowance. It underscores the collaboration among the government, unions, trade associations and chambers, industry and institutes of higher learning, all working collectively to realise an advanced and integrated built environment sector with progressive … IBD Circulars 2020: Circular # Date: Description : IBD Circular No. Circular No. Bombay Chartered Accountants' Society 7, Jolly Bhavan 2, Ground Floor, New Marine Lines, Mumbai - 400020 Last Updated On 02/02/2021 A Wing, I,II,III floors, Janpath Bhawan, Janpath, New Delhi-110001, India. Bombay Chartered Accountants' Society 7, Jolly Bhavan 2, Ground Floor, New Marine Lines, Mumbai - 400020 To, The Hon’ble Finance Minister & Chairperson, GST Council North Block, New Delhi This will lead to considerable time saving and ensure timely reporting by the assessee. If an assessee has short term capital Loss (STCL) from shares and long term capital gain (LTCG) from shares and if assessee want to opt for not setting off STCL against LTCG u/s 70 and want to c/fd. A non-resident not having an account in India is required to provide details of his foreign bank account. Ganapathy was recently appointed as the new Director General of the Bureau of Civil Aviation Security … Install. On rectification for credit of DDT, the DDT demand is cancelled, but refund of adjusted demand is not granted. A separate third option as “OTHER ISSUES” with a space capacity of. 1 - brooklyn As per law, a legal heir can file the return of income in respect of the income received/earned by the deceased till the date of death. In the case of inter head set off of losses, where there are no specific restrictions in the Income Tax Act, 1961, the assessee is entitled to set off of losses against various source / heads of income in the manner which is most beneficial to him. In several cases the CPC is issuing notices of adjustment in case of TURNOVER MISMATCH as per the ITR and the Form 26AS TDS u/s 194C, 194H, 194J. The said issue is a legal issue and covered by various court decisions and should not subject to adjustment u/s 143(1) It is leading to unnecessary litigation. In certain cases, the assessee is unable to register legal heir on portal for claiming refunds of deceased person for period pertaining to period before the date of death where the return for an earlier year has not yet been filed. Also, no reasoning has been provided for considering a tax rate other than that stated in the return of income. CAREERS, INTERNSHIPS, EXTERNSHIPS. Circulars. Instances have come across, where old provisions still prevail and defect notices are issued. Can't find what you're looking for? Part 1. Members Price (Rs.) In certain cases, the demand paid against the orders. Accordingly, in such a case, the pre-validation remains pending and huge amount of refund is not received because of pending pre-validation of bank account. Inital call to understand the client’s project, Onboarding of client with the requested services, Issuance of legal opinions and token classification, General guidance of project until completion of ICO, Post-ICO assistance on regulatory and techincal matters, Indication of jurisdiction for listing & engagement, Analysis of all documentation pertaining to the token, Writing of the technical section of the opinion, Legal analysis and classification of the token, Sign-off and delivery of the legal opinion, Initial meeting with the relevant authority or person, Scoping of work required in the relevant jurisdiction, Desk & field research with relevant stakeholders, Writing and delivery of report outlining areas of work, Implementation of highlighted areas as agreed with client, Initial scoping meeting with the client & engagement, Analysis of current processes and identifying inefficiencies, Defining requirements and setting important milestones, Development/customization and testing of the solution, User acceptance testing, training and system implementation, Initial meeting with the client to agree on scope & engagement, Identify security gaps and provide adequate solutions, Design a robust infrastructure plan and implement solutions, Develop scripts to automate network and security operations, Post-implementation support to ensure return on investment, Catering for your needs in the fourth industrial revolution. 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