Article compiles filing requirement with due date, fees, penalty and applicability of MSME-1 (Initial Return)- Every Outstanding to MSME more then 45 days as on 22.01.2019, DPT-3 – Details of outstanding Loan/ receipt of money as on 22.01.2019, DIR-3 KYC – Every Person holding DIN as on 31.03.2019, INC-22A (ACTIVE)– Every Company Incorporated before 31/12/2017 […]
MCA on 21st February, 2019, came out with draft of Companies (Incorporation) Amendment Rules, 2019. These rules shall come into force from 25th February, 2019. A new Rule 25A inserted after Rule 25. A New Form 22A (e-form Active) Introduced. In this Flash Editorial author begins by discussion on the provisions of e-form Active (its […]
We have received queries / questions many persons Like: Professionals / corporate on subject ‘Who is eligible to do valuation of Securities under Companies Act or Income Tax Act?‘ There is difference in views of professionals, business entities even authorities on above mentioned question. In below mentioned editorial author will discuss provision of Valuation in […]
In case an order is passed without following a prescribed procedure, the entire proceedings would not be vitiated. It would still be possible for authority to proceed further after complying with the particular procedure.
MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 2nd March, 2019 NEW DELHI INTERNATIONAL ARBITRATION CENTRE ORDINANCE, 2019 NO. 10 of 2019 Promulgated by the President in the Seventieth Year of the Republic of India. An Ordinance to provide for the establishment and incorporation of New Delhi International Arbitration Centre for the purpose […]
Mere fall in GP rate could not be the ground for making in-depth inquiry. As per section 145(3), books could be rejected only in the situation where AO was not satisfied about the correctness / completeness of the accounts of the assessee.
Abstract: The Globalisation of business over the past decades has spawned a search for competitive advantage that is worldwide in scale. Companies have followed their customers who are going global themselves as they respond to the pressures of obtaining scale in a rapidly consolidating global economy. In a combination with other trends, such as increased […]
Provision for interest liability which was accrued but not provided for in books of account would be deductible under section 36(1)(iii) of Income Tax Act, 1961.
Ministry of Corporate affairs after the introduction of Director KYC through e form DIR-3 KYC has decided that KYC of the Registered office of the Company shall be there, accordingly Ministry of Corporate affairs has introduced a concept of ACTIVE (i.e. Active Company Tagging Identities and Verification) to tag the identity of the Company i.e. the […]
Reopening Of A Completed Assessment Not Allowed On A Issue Which Was Based On Nothing But A Change Of Opinion On The Same Facts And Circumstances Which Were Already In Knowledge Of Income Tax Officer Even During The Original Assessment Proceedings
