In re The Mobile Wallet Pvt Ltd (GST AAR Maharashtra) In fact there is one composite supply under GST, provided by the acquiring bank to the merchant establishment for which gross value of consideration is Merchant Discount Rate (MDR) which includes the interchange fee. Hence, the supply of Service of the issuing bank got subsumed […]
Shree Vimalnath Jain Swetamber Mandir Trust Vs CIT (ITAT Raipur) We find that the learned Commissioner (Exemption) has refused registration under section 12AA of the Act to the assessee since donations received were not properly accounted for and also because that the objects of the Trust was for betterment of Jain Community and for benefit […]
Nikhil Chandra Mitra Vs ITO (ITAT Kolkata) Disallowance of Rs.60,000/- made on account of accounting charges by invoking the provisions u/s 40(a)(ia) of the Act. The assessee submits that the person whom the amount was paid was not a qualified professional and he was an accountant writing the accounts and hence 194J of the Act, […]
Since assessee had brought all the relevant material to substantiate its claim that transactions of the purchase and sale of shares were genuine and AO had brought nothing controverting material to deny the same, therefore, the long term capital gain (LTCG) on sale of shares of M/s. KAFL claimed as exempt by assessee could not be treated as bogus simply on the basis of some reports of investigation wing.
Based on the suggestions of market participants and recommendations of Mutual Fund Advisory Committee (MFAC), it has been decided to permit mutual funds to write call options under a covered call strategy as prescribed below:
Securities and Exchange Board of India Consultation paper on design of commodity indices and product design for futures on commodity indices 1. Objective 1.1. The objective of this consultation paper is to seek comments / views from the public on commodity index design and product design for futures on commodity indices. 2. Background 2.1. In […]
Insurance Regulatory And Development Of India Ref. No: IRDA/RI/GDL/MISC/012/01/2019 Date: 16-01-2019 IRDAI (International Financial Service Centre Insurance Intermediary Offices) Guidelines, 2019 Guidelines Insurance Regulatory and Development Authority of India (International Financial Service Centre Insurance Intermediary Offices) Guidelines, 2019 Guidelines Reference No. IRDA/RI/GDL/MISC/012/01/2019, dated 16-01-2019 CHAPTER – I 1. Objective: The aim of these Guidelines is to grant […]
Article explains Filing of Income Tax Returns, Who are required to file Income Tax Return?, ITR filing for some special entities, Time limit for filing of Returns, Consequences of Late filing of Return, Revision of Income Tax Returns, Defective Income Tax Return u/s 139(9), Processing of Income Tax Return, Income Tax Assessment Procedure, Notice […]
On 31st December 2018, CBIC has issued multiple circulars to clarify various issues. Besides, CBIC also issued various notifications and orders to give effect to the decisions taken at the 31st GST Council meeting as a welcome for New Year of 2019. In this article, I would give you a quick grasp of all the […]
Gems & Jewelry Industry in India The gems and jewellery market in India is home to more than 300,000 players, with the majority being small players. Its market size is about US$ 75 billion as of 2017 and is expected to reach US$ 100 billion by 2025. India is one of the largest exporters of […]
