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Tenders are invited from Chartered Accountant firm by National Highways Authority of India for appointment of Internal Auditors for the period of 2 years i.e for the Financial Year 2021-22 and 2022-23, which may be renewed for another 3 years on yearly basis subject to performance.

The interested firms may apply for the tenders latest by August 02, 2021.

Tender Document

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Tenders are invited from Chartered Accountant firm by New Delhi Municipal Council Smart City Limited for appointment of Internal Auditors for the period of 2 years.

The interested firms may apply for the tenders latest by July 26, 2021.

Tender Document

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CBDT vide Order dated July 05, 2021 extended the time for processing refunds claims for all validly filed returns in non-scrutiny cases upto Assessment Year 2017-18 up to September 30.

The intimation of such processing U/S 143(1) can be sent to the assessee concerned by 30.09.2021.

Order

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CBDT vide Press Release dated July 05, 2021 grants further relaxation in electronic filing of forms 15CA & 15CB in view of difficulties reported by taxpayers in filing of the forms online on https://t.co/GYvO3n9wMf.

Date for submission of forms in manual format to the authorised dealers is extended to 15th July, 2021.

A facility will be provided on the new e-filing portal to upload these forms at a later date for the purpose of generation of the Document Identification Number.

Press Release

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CBDT vide circular dated July 02, 2021 issued Guidelines under section 9B and U/S 45(4) of the Income-tax Act, 1961.

Guidelines states that Section 45(4) w.r.t. capital asset remaining with the specified entity is forming part of a block of asset, the amount attributed to such capital asset under rule 8AB of the Rules shall be reduced from the full value of the consideration received or accruing as a result of subsequent transfer of such asset by the specified entity, and the net value of such consideration shall be considered for reduction from the written down value of such block under sub-clause (c) of clause (6) of section 43 of the Act or for calculation of capital gains, as the case may be, under section 50 of the Act.

Circular

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CBDT vide Notification dated July 07, 2021 notified a new rules 8AC regarding computation of short-term capital gains (STCG) and written down value (WDV) where depreciation on goodwill has been obtained potentially increasing tax liabilities on firms that have undergone mergers or acquisitions in recent years.

The rule states that where the value of net goodwill removed from the block is in excess of the opening WDV as on April 1, 2020, such excess will now be offered to tax as STCG. Cases where goodwill was the only asset in the block, there won’t be any impact.

Notification

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