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For boosting exports prospects and farmers income, APEDA inks MoUs with ICAR-Indian Institute of Millet Research

Posted on by Business So Simple in Entrepreneurship

For boosting exports prospects and farmers income, APEDA inks MoUs with ICAR-Indian Institute of Millet Research


Key focus of the MoU is to promote commercial cultivation of processable varieties of Millet

MoU also envisages creation of market linkages with farmers as well as Farmer Producers Organizations

MoU will build the export centric ecosystem and value chain for these forgotten crops

Both the organizations would jointly develop an export strategy and schemes for increasing exports of millets

Ministry of Commerce & Industry Press Release dated Sep 03, 2021

For increasing exports through quality production and processing, Agricultural and Processed Food Products Export Development Authority (APEDA) today signed a Memorandum of Understanding (MoU) with ICAR-Indian Institute of Millet Research (ICAR-IIMR) which is expected to boost value addition and farmers’ income.

The key focus of the MoU would be to promote commercial cultivation of processable varieties developed by ICAR-IIMR for exports which is expected to promote value addition of millets, a cereal with high nutritive value.

MoU also envisages creation of market linkages with farmers as well as Farmer Producers Organizations. A joint coordination committee with representatives from APEDA and ICAR-IIMR would be set up to achieve the goals envisaged under the MoU.

The objective of the MoU is to build the export centric ecosystem with the requisite supply chain linkages, technological repository, clinical studies, awareness creation, policy changes and pipeline of entrepreneurs.

Both APEDA and ICAR-IIMR would work for developing knowledge on understanding of markets, consumer preferences, emerging segments, analyze export competitiveness, price volatility of markets and market intelligence on standards, regulations and trade policies.

Creation of a Millet Export Promotion Forum in collaboration with all the key stakeholders for identifying export clusters to source sizable quantities of produce and for linking stakeholders with FPO’s would be taken up jointly by the both the organizations of repute.

MoU gives thrust on work relating to sensitization, promotion and policy advocacy to the Government departments for bringing new policy changes and convergences in favour of millet exports.

Both the organizations would jointly develop an export strategy and accordingly conduct training programme for the existing millet processors and entrepreneurs on various export policies and schemes for increasing exports of millets.

Development and Implementation of novel frameworks such as Traceability, Artificial intelligence, etc. would be taken for promoting millets exports. Handholding activities for the Start-ups for export-compliance is also envisaged under MoU.

Profiling of Millets growers or farmers in all major millets growing regions of the country and strengthening of seed supply chain would be taken up by ICAR-IIMR.

Millets are cereal crops with high nutritive value and categorized as small-seeded grasses. The key varieties of millets include Sorghum, Pearl Millet, Ragi, Small Millet, Foxtail Millet, Barnyard Millet, Kodo Millet and others.

Recently, the United Nations General Assembly has passed the resolution to celebrate the International Year of Millets (IYM) in 2023, to promote the health benefits of millets and their suitability under the changing climatic conditions globally. As IYM is round the corner, it is expected that the demand of millets will grow exponentially in many countries.

ICAR-IIMR has been working along the entire millet value chain. Through several projects, ICAR-IIMR has piloted several interventions to build the value chain for these forgotten crops, and thus to revive the millets for Nutritional security in the country.

Considering the potential of increasing exports of Millets and Millet products and the focus given by Government for development of millet sector, APEDA has been formulating a long term strategy with ICAR-IIMR and other stakeholders like National Institute Nutrition, CFTRI and FPOs for promotion of Millets and Millet products.

To boost exports prospects of various agricultural produce, APEDA has signed a series of MoUs with Tamil Nadu Agricultural University, Coimbatore, University of Agricultural Sciences, Bangalore. National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and others.

Finance Minister Smt. Nirmala Sitharaman chairs 24th meeting of Financial Stability and Development Council

Posted on by Business So Simple in Financial Prudence

Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired the 24th meeting of the Financial Stability and Development Council (FSDC) here today.

The meeting was attended by Dr. Bhagwat Kishanrao Karad, MoS (Finance); Shri Pankaj Chaudhary, MoS (Finance); Shri Shaktikanta Das, Governor, Reserve Bank of India; Dr. T. V. Somanathan, Finance Secretary and Secretary, Department of Expenditure, Ministry of Finance; Shri Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance; Shri Tarun Bajaj, Secretary, Department of Revenue, Ministry of Finance; Shri Debasish Panda, Secretary, Department of Financial Services, Ministry of Finance; Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs; Dr. Krishnamurthy V. Subramanian, Chief Economic Adviser, Ministry of Finance; Shri Ajay Tyagi, Chairperson, Securities and Exchange Board of India; Shri Supratim Bandyopadhyay, Chairperson, Pension Fund Regulatory and Development Authority; Dr. M. S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India; Shri Injeti Srinivas, Chairperson, International Financial Services Centres Authority; Ms. T. L. Alamelu, Member (Non-Life), Insurance and Regulatory Development Authority of India; and the Secretary of the FSDC, Department of Economic Affairs, Ministry of Finance.

The meeting deliberated on the various mandates of the FSDC, viz., Financial Stability, Financial Sector Development, Inter-regulatory Coordination, Financial Literacy, Financial Inclusion, and Macro prudential supervision of the economy including the functioning of large financial conglomerates etc.

It was noted that there is a need to keep a continuous vigil by Government and all regulators on the financial conditions.

The Council also, inter alia, discussed issues relating to management of stressed assets, strengthening institutional mechanism for financial stability analysis, financial inclusion, framework for resolution of financial institutions and issues related to IBC processes, banks’ exposure to various sectors and Government, data sharing mechanisms of government authorities, internationalisation of Indian Rupee and pension sector related issues.

The Council also took note of the activities undertaken by the FSDC Sub-Committee chaired by the Governor, RBI and the action taken by members on the past decisions of FSDC.

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Ministry of Finance Press Release dated 03 Sept 2021

Income Tax Department conducts searches in Delhi, Gujarat and Dadra (Ministry of Finance Press Release dated 02 Sept 2021)

Posted on by Business So Simple in Income Tax

The Income Tax Department carried out a search and seizure operation on 01.09.2021 on a manufacturer and distributor of synthetic yarns and polyester chips having corporate office in Delhi and factories at Dadra & Nagar Haveli and Dahej.

During the course of the search, many incriminating documents, loose sheets, digital evidences etc. have been found indicating involvement of the group in unaccounted transactions. Substantial evidence of transactions outside the regular books of accounts, cash purchases, suppression of sales and booking of sales to bogus parties have also been found.

The group has routed its own unaccounted funds to the tune of Rs. 380 crore in its books in the form of bogus unsecured loans, through paper entities, over the past few years. Besides, an amount of Rs. 40 crore has also been introduced in its books through shell entities in the form of share premium. The directors and auditors of the shell entities, have, in their statement, admitted that these entities were essentially used to provide accommodation entries.

Substantial evidence of cash purchase and documents revealing movement of cash through “angadias” has been recovered. Evidence of booking bogus purchases of Rs. 154 crore has also been detected. During the search, unaccounted jewellery has been found and 11 lockers have been placed under restraint. 

The search operation is still continuing and further investigations are in progress.

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Supporting Startups in Infrastructure: Workshop organised by DEA and Invest India

Posted on by Business So Simple in Startups

A virtual workshop on ‘Supporting Startups in Infrastructure’ was organised by the Department of Economic Affairs (DEA), Ministry of Finance, and Invest India today. This workshop was an effort towards mainstream participation of startups in infrastructure, for sustainably and efficiently scaling up public infrastructure delivery. The workshop was chaired by Secretary DEA, Shri Ajay Seth, and with opening remarks from Additional Secretary, DEA, Shri K. Rajaraman. Special addressees included Additional Secretary, DPIIT, Shri Anil Agrawal and MD & CEO, Invest India, Shri Deepak Bagla.

The workshop addressed experiences and success stories of sourcing or having sourced solutions from startups, as well as benefits and challenges of onboarding startups. In this regard, presentations were made by Shri Kunal Kumar, Joint Secretary, Ministry of Housing and Urban Affairs (MoHUA) and Mission Director, Smart Cities Mission, Shri Roshan Popli, Chief Information Officer, Airports Authority of India, and Dr Neeru Bhooshan, CEO, Pusa Krishi.

Key infrastructure players from the private sector, including startups, also shared experiences of working with innovative solutions in public infrastructure delivery, including within the government. Startup India also presented a framework for enabling ministries and departments to launch their own startup challenges. The workshop was attended by more than 150+ officials from all infrastructure ministries, key PSUs, and senior representatives of private startups.

Shri Seth, Secretary, DEA, in his address emphasised the importance of not to build more but to build smart with smart design to improve ease of access. He said that mainstreaming technology and leveraging analytics in core infrastructure activities such as construction, asset management and mobility, etc., are some of the critical areas where startups and governments can begin to collaborate.

The workshop also saw the launch of a report ‘Driving Innovations in Infrastructure: The Startup Way’, which aims to highlight the importance of accelerating growth in the infrastructure sector by leveraging home grown technologies and solutions. The report is available for public circulation on the Invest India and India Investment Grid websites.

The workshop concluded with an address by Joint Secretary, DEA, Shri. Baldeo Purushartha, reiterating the importance of Infratech and urging ministries and departments to leverage innovations and startups for efficient infrastructure and smart service delivery.

This workshop, organised as part of the Azadi ka Amrit Mahotsav (AKAM) under DEA, was a precursor for an actionable way forward, wherein ministries and departments will work towards launching their own startup challenges in partnership with DEA and Invest India.

MOF Press Release dated 02 Sept 2021

CBDT notifies RULE 9D for calculation of taxable interest relating to contribution in a PF or RPF exceeding specified limit vide CBDT Notification No. 95/2021-Income Tax dated 31st August, 2021.

Posted on by Business So Simple in Income Tax

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)

Notification No. 95/2021-Income Tax Dated:  31st August, 2021

G.S.R. 604(E).—In exercise of the powers conferred by the first proviso to clause (11) of section 10 and the first proviso to clause (12) of section 10 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. Short title and commencement. (1) These rules may be called the Income-tax (25th Amendment) Rules, 2021.

(2)    They shall come into force on 1st day of April, 2022.

2. In the Income-tax Rules, 1962, after the rule 9C, the following rule shall be inserted, namely: ‒

“9D. Calculation of taxable interest relating to contribution in a provident fund or recognised provided fund, exceeding specified limit.-

(1)For the purposes of the first and second provisos to clauses (11) and (12) of section 10 , income by way of interest accrued during the previous year which is not exempt from inclusion in the total income of a person under the said clauses (hereinafter in this rule referred to as the taxable interest), shall be computed as the interest accrued during the previous year in the taxable contribution account.

(2) For the purpose of calculation of taxable interest under sub-rule (1), separate accounts within the provident fund account shall be maintained during the previous year 2021-2022 and all subsequent previous years for taxable contribution and non-taxable contribution made by a person.

Explanation: For the purposes of this rule,-

(a) Non-taxable contribution account shall be the aggregate of the following, namely:-

(i) closing balance in the account as on 31st day of March 2021;

(ii) any contribution made by the person in the account during the previous year 2021-2022 and subsequent previous years, which is not included in the taxable contribution account; and

(iii) interest accrued on sub- clause (i) and sub- clause (ii),

as reduced by the withdrawal, if any, from such account;

(b) Taxable contribution account shall be the aggregate of the following, namely:-

(i) contribution made by the person in a previous year in the account during the previous year 2021-2022 and subsequent previous years, which is in excess of the threshold limit; and

(ii) interest accrued on sub- clause (i),

as reduced by the withdrawal, if any, from such account; and

(c) The threshold limit shall mean:

(i) five lakh rupees, if the second proviso to clause (11) or clause (12) of section 10 is applicable; and

(ii) two lakh and fifty thousand rupees in other cases.”.

[Notification No. 95/2021/ F. No. 370142/36/2021-TPL]

NEHA SAHAY, Under Secy. (Tax Policy and Legislation Division)

GST Revenue collection for August 2021₹ 1,12,020 crore of gross GST revenue collected in August

Posted on by Business So Simple in GST, Miscellaneous

Ministry of Finance Press Release dated 01 Sept 2021

The gross GST revenue collected in the month of August 2021 is ₹ 1,12,020 crore of which CGST is ₹ 20,522 crore, SGST is ₹ 26,605 crore, IGST is ₹ 56,247 crore (including ₹ 26,884 crore collected on import of goods) and Cess is ₹ 8,646 crore (including ₹ 646 crore collected on import of goods).

The government has settled ₹ 23,043 crore to CGST and ₹ 19,139 crore to SGST from IGST as regular settlement. In addition, Centre has also settled ₹ 24,000 crore as IGST ad-hoc settlement in the ratio of 50:50 between Centre and States/UTs. The total revenue of Centre and the States after regular and ad-hoc settlements in the month of August’ 2021 is ₹ 55,565 crore for CGST and ₹ 57,744 crore for the SGST.

The revenues for the month of August 2021 are 30% higher than the GST revenues in the same month last year. During the month, the revenues from domestic transaction (including import of services) are 27% higher than the revenues from these sources during the same month last year. Even as compared to the August revenues in 2019-20 of ₹ 98,202 crore, this is a growth of 14%.

GST collection, after posting above Rs. 1 lakh crore mark for nine months in a row, dropped below Rs. 1 lakh crore in June 2021 due to the second wave of covid. With the easing out of COVID restrictions, GST collection for July and August 2021 have again crossed ₹1 lakh crore, which clearly indicates that the economy is recovering at a fast pace. Coupled with economic growth, anti-evasion activities, especially action against fake billers have also been contributing to the enhanced GST collections. The robust GST revenues are likely to continue in the coming months too.

PM releases a special commemorative coin on the occasion of 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji (PMO Press Release dated 01st Sept 2021)

Posted on by Business So Simple in Financial Prudence, Public Affairs

PM releases a special commemorative coin on the occasion of 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji


Srila Bhaktivedanta Swami Prabhupada Ji was also a great devotee of Bharat: PM

It is our resolve that the world should benefit from our knowledge of Yoga and Ayurveda: PM

Difficult to imagine the status and form of India without the social revolution of the Bhakti period: PM

Srila Bhaktivedanta Swami Prabhupada Ji connected Bhakti Vedanta with the consciousness of the world

Prime Minister Shri Narendra Modi released a special commemorative coin on the occasion of the 125th Birth Anniversary of Srila Bhaktivedanta Swami Prabhupada Ji today via video conference. Union Minister For Culture, Tourism and Development of North Eastern Region (DoNER), Shri G Kishan Reddy, among others,  was present on the occasion.

Addressing the gathering, the Prime Minister mentioned the happy coincidence of Janmashtami day before and the 125th birth anniversary of Srila Prabhupada ji. ‘It is like achieving happiness and contentment of sadhana together. He also noted that the occasion is taking place amidst the celebration of Azadi ka Amrit mahotsav.  This is how millions of followers of Srila Prabhupada Swami and millions of Krishna devotees all over the world are experiencing today’, the Prime Minister said.

The Prime Minister noted the supernatural devotion of Prabhupada Swami for Lord Krishna and said that he was also a great devotee of Bharat. He fought in the freedom struggle of the country. He had refused to take his diploma from Scottish College in support of the non-cooperation movement, the Prime Minister said.

The Prime Minister said our knowledge of yoga spread all over the world and sustainable lifestyle of India, science like Ayurveda are spread all over the world.It is our resolve that the whole world should benefit from it, Shri Modi said. The Prime Minister said whenever we go to any other country, and when people meet there saying ‘Hare Krishna’, we feel a sense of belonging and pride. The Prime Minister said that the same feeling will be there  when Make in India products get the same affinity. We can learn a lot from ISKCON in this regard

The Prime Minister said that in the times of slavery, Bhakti kept the spirit of India alive. He said today scholars assess that if there was no social revolution of the Bhakti period, it would have been difficult to imagine the status and form of India. Bhakti connected the creature with God by removing the dicrimination of faith, social hierarchies and privileges. Even in those difficult times, saints like Chaitanya Mahaprabhu, who tied the society with the spirit of devotion and gave the mantra of ‘Faith to Confidence’.

The Prime Minister said at one time, if a sage like Swami Vivekananda came who took Vedanta to the west, then Srila Prabhupada and ISKCON took up this great task when the time of taking Bhakti Yoga to the world came. He connected Bhakti Vedanta with the consciousness of the world, said the Prime Minister.

The Prime Minister said today there are hundreds of ISKCON temples in different countries of the world and many Gurukuls are keeping Indian culture alive. ISKCON has disseminated to the world that for India, faith means zeal, enthusiasm, and gaiety and faith in humanity.Shri Modi highlighted the service work of ISKCON during earthquake in Kutch, Uttarakhand tragedy, cyclones in Odisha and Bengal. The Prime Minister also praised the efforts of ISKCON during the pandemic.

परसो श्री कृष्ण जन्माष्टमी थी और आज हम श्रील प्रभुपाद जी की 125वीं जन्मजयंती मना रहे हैं।

ये ऐसा है जैसे साधना का सुख और संतोष एक साथ मिल जाए।

इसी भाव को आज पूरी दुनिया में श्रील प्रभुपाद स्वामी के लाखों करोड़ों अनुयाई और लाखों करोड़ों कृष्ण भक्त अनुभव कर रहे हैं: PM— PMO India (@PMOIndia) September 1, 2021

हम सब जानते हैं कि प्रभुपाद स्वामी एक अलौकिक कृष्णभक्त तो थे ही, साथ ही वो एक महान भारत भक्त भी थे।

उन्होंने देश के स्वतन्त्रता संग्राम में संघर्ष किया था।

उन्होंने असहयोग आंदोलन के समर्थन में स्कॉटिश कॉलेज से अपना डिप्लोमा तक लेने से मना कर दिया था: PM— PMO India (@PMOIndia) September 1, 2021

मानवता के हित में भारत दुनिया को कितना कुछ दे सकता है, आज इसका एक बड़ा उदाहरण है विश्व भर में फैला हुआ हमारा योग का ज्ञान!

भारत की जो sustainable lifestyle है, आयुर्वेद जैसे जो विज्ञान हैं, हमारा संकल्प है कि इसका लाभ पूरी दुनिया को मिले: PM @narendramodi— PMO India (@PMOIndia) September 1, 2021

हम जब भी किसी दूसरे देश में जाते हैं, और वहाँ जब लोग ‘हरे कृष्ण’ बोलकर मिलते हैं तो हमें कितना अपनापन लगता है, कितना गौरव भी होता है।

कल्पना करिए, यही अपनापन जब हमें मेक इन इंडिया products के लिए मिलेगा, तो हमें कैसा लगेगा: PM @narendramodi— PMO India (@PMOIndia) September 1, 2021

हम जब भी किसी दूसरे देश में जाते हैं, और वहाँ जब लोग ‘हरे कृष्ण’ बोलकर मिलते हैं तो हमें कितना अपनापन लगता है, कितना गौरव भी होता है।

कल्पना करिए, यही अपनापन जब हमें मेक इन इंडिया products के लिए मिलेगा, तो हमें कैसा लगेगा: PM @narendramodi— PMO India (@PMOIndia) September 1, 2021

आज विद्वान इस बात का आकलन करते हैं कि अगर भक्तिकाल की सामाजिक क्रांति न होती तो भारत न जाने कहाँ होता, किस स्वरूप में होता!

लेकिन उस कठिन समय में चैतन्य महाप्रभु जैसे संतों ने हमारे समाज को भक्ति की भावना से बांधा, उन्होने ‘विश्वास से आत्मविश्वास’ का मंत्र दिया: PM @narendramodi— PMO India (@PMOIndia) September 1, 2021

एक समय अगर स्वामी विवेकानंद जैसे मनीषी आए जिन्होंने वेद-वेदान्त को पश्चिम तक पहुंचाया, तो वहीं विश्व को जब भक्तियोग को देने की ज़िम्मेदारी आई तो श्रील प्रभुपाद जी और इस्कॉन ने इस महान कार्य का बीड़ा उठाया।

उन्होंने भक्ति वेदान्त को दुनिया की चेतना से जोड़ने का काम किया: PM— PMO India (@PMOIndia) September 1, 2021

आज दुनिया के अलग अलग देशों में सैकड़ों इस्कॉन मंदिर हैं, कितने ही गुरुकुल भारतीय संस्कृति को जीवंत बनाए हुये हैं।

इस्कॉन ने दुनिया को बताया है कि भारत के लिए आस्था का मतलब है- उमंग, उत्साह, और उल्लास और मानवता पर विश्वास: PM @narendramodi— PMO India (@PMOIndia) September 1, 2021

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DS/AKRelease Id :-1751113

CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961 (CBDT Circular No. 16/2021 in F.No.225/49/2021/ITA-II dated 29.08.2021 )

Posted on by Business So Simple in Income Tax

   On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961 read with Income-tax Rules,1962 (Rules), Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms. The further details are as under:

  1. The application for registration or intimation or approval under Section 10(23C), 12A, 35(1)(ii)/(iia)/(iii) or 80G of the Act in Form No. 10A required to be filed on or before 30th June, 2021, as extended to 31st August, 2021 vide Circular No.12 of 2021 dated 25.06.2021, may be filed on or before 31st March, 2022;
  2. The application for registration or approval under Section 10(23C), 12A or 80G of the Act in Form No.10AB, for which the last date for filing falls on or before 28th February, 2022 may be filed on or before 31st March, 2022;
  3. The Equalization Levy Statement in Form No.1 for the Financial Year 2020- 21, which was required to be filed on or before 30th June, 2021, as extended to 31st August, 2021 vide Circular No.15 of 2021 dated 03.08.2021, may be filed on or before 31st December, 2021;
  4. The Quarterly statement in Form No. 15CC to be furnished 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 37BB of the Rules, as extended to 31st August, 2021 vide Circular No.15 of 2021 dated 03.08.2021, may be furnished on or before 30th November, 2021;
  5. The Quarterly statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th September, 2021, required to be furnished on or before 15th October, 2021 under Rule 37BB of the Rules, may be furnished on or before 31st December, 2021;
  6. Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th June, 2021, which was originally required to be uploaded on or before 15th July, 2021, and subsequently by 31st August, 2021, as per Circular No.12 of 2021 dated 25.06.2021, may be uploaded on or before 30th November, 2021;
  7. Uploading of the declarations received from recipients in Form No. 15G/15H during the quarter ending 30th September, 2021, which is required to be uploaded on or before 15th October, 2021, may be uploaded on or before 31st December, 2021;
  8. Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th June, 2021, required to be made on or before 31st July, 2021 as per Circular No.15 of 2020 dated 22.07.2020, as extended to 30th September, 2021 vide Circular No.15 of 2021 dated 03.08.2021, may be made on or before 30th November, 2021;
  9. Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th September, 2021, required to be made on or before 31st October, 2021 as per Circular No.15 of 2020 dated 22.07.2020, may be made on or before 31st December, 2021;
  10. Intimation to be made by a Pension Fund in respect of each investment made by it in India in Form No. 10BBB for the quarter ending on 30th June, 2021, required to be made on or before 31st July, 2021 under Rule 2DB of the Rules, as extended to 30th September, 2021 vide Circular No. 15 of 2021 dated 03.08.2021, may be made on or before 30th November, 2021;
  11. Intimation to be made by a Pension Fund in respect of each investment made by it in India in Form No. 10BBB for the quarter ending on 30th September, 2021, required to be made on or before 31st October, 2021 under Rule 2DB of the Rules, may be made on or before 31st December, 2021;
  12. Intimation by a constituent entity, resident in India, of an international group, the parent entity of which is not resident in India, for the purposes of sub-section (1) of section 286 of the Act, in Form No.3CEAC, required to be made on or before 30th November, 2021 under Rule 10DB of the Rules, may be made on or before 31st December, 2021;
  13. Report by a parent entity or an alternate reporting entity or any other constituent entity, resident in India, for the purposes of sub-section (2) or sub-section (4) of section 286 of the Act, in Form No. 3CEAD, required to be furnished on or before 30th November, 2021 under Rule 10DB of the Rules, may be furnished on or before 31st December, 2021;
  14. Intimation on behalf of an international group for the purposes of the proviso to sub-section (4) of section 286 of the Act in Form No. 3CEAE, required to be made on or before 30th November, 2021 under Rule 10DB of the Rules, may be made on or before 31st December, 2021.

CBDT Circular No. 16/2021 in F.No.225/49/2021/ITA-II dated 29.08.2021 issued. The said Circular will be available on www.incometaxindia.gov.in.

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RM/KMNRelease Id :-1750167

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