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Archive: 21 April 2018

Posts in 21 April 2018

SEBI Circular on Strengthening Guidelines and Raising Industry standards for RTA, Issuer Companies and Banker to an Issue

April 21, 2018 11565 Views 1 comment Print

The Securities and Exchange Board of India has issued Circular No. SEBI/HO/MIRSD/DOP1 /CIR/P/2018/73 dated 20th April, 2018 with the objective of Strengthening the Guidelines and Raising Industry standards for RTA, Issuer Companies and Banker to an Issue.

Criminal Law (Amendment) Ordinance, 2018

April 21, 2018 10020 Views 1 comment Print

THE CRIMINAL LAW (AMENDMENT) ORDINANCE, 2018 An Ordinance further to amend the Indian Penal Code, the Indian Evidence Act, 872, the Code of Criminal Procedure, 1973 and the Protection of Children from Sexual Offences Act, 2012.

Fugitive Economic Offenders Ordinance 2018

April 21, 2018 1239 Views 0 comment Print

Fugitive Economic Offenders Ordinance 2018 to provide for measures to deter fugitive economic offenders from evading the process of law in India by staying outside the jurisdiction of Indian courts, to preserve the sanctity of the rule of law in India and for matters connected therewith or incidental thereto.

Judge Loya Death Case – The One That Almost Created a Judicial Mutiny: Arun Jaitley

April 21, 2018 1596 Views 2 comments Print

Yesterday I read the 114 page judgement in the Judge Loya death case authored by Justice D.Y. Chandrachud on behalf of the three Judge Bench of the Supreme Court. A reading of the judgement exposes every fact of the conspiracy to generate falsehood as propaganda in the public and political space.

Carry Forward of Cesses Under GST: HC Ruling & its impact

April 21, 2018 3570 Views 0 comment Print

Recently it has been reported in the media that post the decision of Hon. Delhi High Court in the case of Cellular Operators Association of India and Others vs UOI and Others 2018-TIOL-310-HC-DEL-ST, such carry forward will not be permitted. We beg to differ with the said view. In order to appreciate our view it is first worthwhile to consider the ruling of Delhi High Court.

Valuation by registered valuers

April 21, 2018 17628 Views 3 comments Print

The provisions about valuation by registered valuers are contained in Section 247 of Chapter XVII of the Companies Act, 2013. Section 247 has been made effective from 18th October, 2017 vide MCA Notification F.No.7/27/2013-CLV. Consequent to notification of section 247, MCA also notified the Companies (Registered Valuers and Valuation) Rules, 2017.

8 Major Changes in respect of Income tax for FY 2018-19

April 21, 2018 69144 Views 5 comments Print

The biggest change implemented this financial year is the reintroduction of the long term capital gains tax on stock market investments. 10% Long Term Capital Gains (LTCG) tax will be imposed on profits exceeding `1 lakh made from the sale of stocks and equity-oriented mutual funds that have been held for over a year.

Computation of Refund of Accumulated ITC – A hidden game by Government

April 21, 2018 41856 Views 4 comments Print

In this article, an attempt has been to highlight the issues involved in computation of the refund amount attributable to unutilised ITC pertaining to Zero rated supplies made without payment of tax.

How income tax department can penalise you for under-reporting, misreporting income

April 21, 2018 3417 Views 1 comment Print

Under-reporting income or inflating deductions/exemptions in income tax return can attract heavy penalties ranging from 50% to 200% of tax evaded, say experts. An advisory issued by the income tax department has warned salaried tax payers against trying to evade tax by indulging in these malpractices and pointed out that these would attract penalties as per law.

DRI busts Diesel Smuggling racket

April 21, 2018 1050 Views 0 comment Print

DRI busts Diesel Smuggling racket; 14 containers of diesel seized and 4 persons, including the Mastermind and one Hawala Operator, arrested under the Customs Act 1962.

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April 2018