"23 August 2018" Archive

Moratorium: Not Applicable to action U/s. 138 of Negotiable Instruments Act, 1881

This article is a critical analysis of the recent judgment of NCLAT i.e., in the matter of Shah Brothers Ispat Pvt. Ltd. Vs. P. Mohanraj & Ors.-Company Appeal (AT) (Insolvency) No. 61 of 2018 wherein it has been held that moratorium will not be applicable to action under section 138 of the Negotiable Instruments Act, 1881....

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Posted Under: Corporate Law |

How Rumors on GST Impact Capital Market

The rumors or expectations of inclusions and exclusions from Goods and Services Tax (GST) net have its toll on stock market prices of liquor manufacturing companies. And it work both ways to raise or lower the stock market prices of these companies. This was witnessed recently in stock market behavior of alco-beverages companies....

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Posted Under: Corporate Law |

China wobbly….but unlikely to fall off a cliff

Why the fear of a financial crisis? The severity of the sell-off in China’s equity and foreign exchange markets over the past couple of months and the gravity of the external (prospects of a protracted trade war with the US) and domestic problems (its mounting debt pile) weighing on the Chinese economy have once again become a focal poi...

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Posted Under: Corporate Law |

Overview of Multilateral Instrument (MLI)

‘Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting’ (MLI for short) is the official title of the multilateral treaty framework that aims to prevent BEPS. Base erosion and profit shifting (BEPS) refers to artificially shifting profits to low or no-tax locations where there is l...

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Posted Under: Corporate Law |

Data Privacy – The imminent turbulence

Indian Professionals (particularly CAs) have come a long way in building successful outsourcing businesses in the areas of Accounting, Tax, Finance and other allied areas. Thanks to internet, social media growth, digitisation, cloud computing etc., the way business is done is constantly evolving....

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Posted Under: Corporate Law |

Extension of last date for CA exam form submission for candidates in Kerala

Extension of the last date for submission of examination application forms in respect of CA exams to be held in November 2018, for candidates in Kerala only. Extension of the last date for submission of examination application forms in respect of CA exams to be held in November 2018, for candidates in Kerala only In […]...

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Posted Under: Corporate Law |

Promotion of 118 Income Tax Officers in the grade of ACIT

Office Order No. 137 of 2018 (23/08/2018)

Promotion of 138 Income Tax Officers in the grade of Assistant Commissioner of Income Tax on ad-hoc basis vide Order No. 137 of 2018 Dated- 23rd August, 2018....

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Arun Jaitely resumes charge of Ministry of Finance & Corporate Affairs 

The Union Minister, Shri Arun Jaitley today resumed the charge of the Ministries of Finance and Corporate Affairs after a gap of more than three months. ...

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Posted Under: Corporate Law |

IRP/RP cannot allow other CA Firms to raise bill on his behalf: IBBI

ORDER No. IBBI/DC/08/2018. (23/08/2018)

The Insolvency and Bankruptcy Board of India (Board) issued a show-cause notice (SCN) dated 18th December, 2018 to Mr. Dinkar T. Venkatasubramanian, Ernst & Young LLP, Golf View Corporate Tower B, Sector 42,Gurugram,Haryana, 122002, who is a Professional Member of the Indian Institute of Insolvency Professional of ICAI and an Insolvency ...

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Audit U/s. 44ADA not to be counted for Tax Audit Limit Calculation: ICAI

ICAI decided to exclude audit conducted under section 44ADA of Income-tax Act, 1961 for reckoning the specified number of tax audit assignments...

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Posted Under: Corporate Law |