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NICAI UPDATES Dated 22 August

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  • NICAI UPDATES Dated 22 August

    Guidelines for considering request for exemption from payment of Customs Duty under Section 25(2) of Customs Act, 1962. Imports made by Central/State Governments, Municipalities, public sector undertakings and autonomous bodies will not be considered for ad-hoc exemption.

    Related Party Transactions u/s. 188 of Companies Act,2013 and 2nd Amended Rules,2014 that a company shall enter into any contract or arrangement with a related party only with the consent of Board of Directors given by a resolution at a meeting of the Board.

    TDS benefit to assessee if deductor has deducted TDS and issued Form 16A even if such credit is not in Form 26AS[Sumit Devendra Rajani Vs ACIT, Gujarat High Court].
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