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Archive: 04 June 2019

Posts in 04 June 2019

NCLAT order allowing re-opening of books and re-casting of financial statements of IL&FS valid: SC

June 4, 2019 2118 Views 0 comment Print

Hari Sankaran Vs Union of India & amp (Supreme Court of India) Civil Appeal No. 3747 of 2019 titled Hari Sankaran vs. Union of India & Others filed by Ex-Director of Infrastructure Leasing & Financial Services Limited before the Apex Court has been dismissed by the Hon’ble Court. The Civil Appeal No.3747/2019 was filed by […]

Arrest Under GST – A Saga That Will Continue

June 4, 2019 17271 Views 0 comment Print

1. Recently print as well as online media has written a lot about arrests under GST. The sudden surge in the interest stems from the fact that the Supreme Court has refused to interfere with a decision of a High Court which did not prevent the arrest of the directors/employees (concerned with the alleged act […]

Text of Charge sheet Filed by SFIO against IL&FS

June 4, 2019 16278 Views 0 comment Print

That during investigation it was revealed that IL&FS  Financial Services Ltd. (hereinafter as ‘IFIN’) is one of the subsidiary companies of the IL&FS Group, whose investigation has also been ordered by MCA as stated above.

Empanelment with Corporation Bank for Concurrent Audit

June 4, 2019 53093 Views 8 comments Print

Corporation Bank invites online application for selection of Concurrent Auditors for Concurrent Audit of the Branches / Offices of the Bank. The Firms that are already empanelled with the Bank are required to participate as fresh allotment of assignments will be only through this process

Difference between section 8, trust, Society Remuneration of Director/Member/Trustee

June 4, 2019 5169 Views 1 comment Print

Section 8 (Companies Act, 2013) company will become Holding Entity and other entity will become its subsidiary. Holding entity will do all the marketing, fundraising, financial, future planning for whole group. This process involves member restructuring, change in authorise signatories with banks and government authorities. Now the main issues related to restructuring of these entities […]

CSR Penalty Under Companies Act 2013

June 4, 2019 23352 Views 0 comment Print

Penalty for non-compliance of CSR provisions under Companies Act, 2013 There is no specific penal provision for non-compliance under section 135 of the Act. However, there is risk exposure under two different provisions. A. Section 134(3)(o)& Section 134(8) (Non-disclosure or absence of the details about the CSR policy and its implementation in the Boards’ report […]

Gift Tax or Tax on Gift

June 4, 2019 8265 Views 0 comment Print

Gifts are a way of showing  affection towards one another in today’s busy life. Specially in a  country  like India which has a diversified culture  Gifts are exchanged on numerous occasions  such as  Diwali, Raksha  Bandhan, Christmas,  Birthdays, Marriages, etc.  by Friends  and  Relatives  while for some people giving Gifts are considered as  a form […]

How to Download Form 26AS

June 4, 2019 152556 Views 4 comments Print

Article explains  Important Information for Downloading Form 26AS,  Brief Steps for Downloading Form 26AS,  Pictorial guide for Downloading Form 26AS,  Pictorial guide to View Form 26AS In HTML Format, Pictorial guide for Downloading Form 26AS In PDF Format and  Pictorial guide to Download Form 26AS for more than 1000 Transactions. 1. Important Information for “Downloading […]

How a NRI Taxpayer can Register on TRACES Portal

June 4, 2019 46257 Views 3 comments Print

Important information : NRI Taxpayer Registration. NRI Tax Payer will login through the link www.nriservices.tdscpc.gov.in NRI Tax Payer will be able to perform the following activities through the portal: Registration View/Download Form 26AS Download /Correction Form 16B Manage profile, change password Brief Steps : NRI Registration To register at TRACES, Taxpayer need to click on […]

E-Tutorial on How to Download Form 16B from TRACES Website

June 4, 2019 10803 Views 0 comment Print

Article explains How to Download Form 16B from TRACES Website. Form 16B is a TDS Certificate which reflects that the amount deducted as TDS on Property by the Buyer has been deposited with the Income Tax Department. At the time of sale of immovable property, the buyer is required to deduct TDS on Property @ […]

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