AKGVG Weekly Insight
Dear Reader,
Greetings for the day!!!
We are pleased to share AKGVG's Weekly Insight, dated 25th Jan., 2021 which includes:
Date: 25.01.2021
S.no Description Relevant links
Section I: Income Tax
1. Amount of remuneration prescribed under section 9A(3)(m) of the Income-tax Act, 1961. Circular No. 01/2021
dtd 15.01.2021
2. CBDT notified the purposes of giving effect to the Faceless Penalty scheme, 2021. Notification No. 03/2021
dtd 12.01.2021
3. CBDT notified Faceless Penalty Scheme, 2021. Notification No. 02/2021
dtd 12.01.2021
Section II: GST
1. CBIC notified amendment to jurisdiction of Central Tax officers. Notification No. 02/2021-CT
dtd 12.01.2021
Section III: MCA
1. MCA notified Companies (CSR Policy) Amendment Rules, 2021. Notification
dtd 22.01.2021
2. MCA issued scheme for condonation of delay for companies restored during Dec 2020 u/s 252 of the Companies Act, 2013. Circular No. 03/2021
dtd 15.01.2021
3. MCA issued clarification on spending of CSR funds for awareness and public outreach on COVID-19 Vaccination programme Circular No. 01/2021
dtd 13.01.2021
Section IV: RBI
1. RBI withdrew circulars on recovery of excess pension made to pensioners. RBI/2020-21/84 dtd 21.01.2021
2. The Government of India announced the conversion/switch of its securities through auction for an aggregate amount of ₹20,000 crore (face value). Press release dtd 14.01.2021
Section V: Customs
1. CBIC extended the exemption from requirement of furnishing of Bank Guarantee by the carriers for carriage of EXIM cargo for transhipment through foreign territories of Sri Lanka and Bangladesh. This relaxation would apply if the carrier fulfils the requirement of waiver of Bank Guarantee in a like manner, as provided for by Circular No. 45/2005-Customs, dated 24.11.2005. Circular No. 01/2021-Customs
dtd 14.01.2021
We trust you will find this Journal informative as well as useful.
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Best Regards!
Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)

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