"21 July 2019" Archive

Insolvency Resolution Process in Real Estate

Real estate is backbone of the economy of any country. It is the largest asset class owned by people of any country. It is one of the biggest sectors getting credits from the financial institutions. Investment in under construction housing is one of the biggest investments of Indian middle class. However, unfortunately numerous projects o...

Posted Under: Company Law |

Ways of Striking Of Name of Company from Register of Companies

Strike-off of company from registrar of companies is an opportunity given to defunct companies or those companies voluntarily shut down their business can file their application with roc under section 248. This is one of the best and easiest ways where companies can strike off its name without any hassle by properly arranging all the [&he...

Posted Under: Company Law |

UDIN: Advanced idea to control malpractices

Several times it has been noticed that non-CAs has been misrepresenting themselves as ICAI member and offering certification services to numerous Authorities and Stakeholders. Such malpractices started bringing a question on the authenticity of financial documents/certification done by actual ICAI Members in practice. Considering the rise...

Posted Under: Company Law |

Section 194DA – TDS in respect of Life Insurance Policy

Section 194DA relates to the deduction of TDS in respect of life insurance policy, and the provisions of the same are covered under the present article. Basic provisions of section 19DA Section 194DA of the Income Tax Act, 1961 covers the person making payment to a resident person any sum under the life insurance policy. […]...

Posted Under: Company Law |

Healthcare services and food supplies by Hospitals under GST

Hospitals charges fees for various services provided along with medical and consultancy service provided by doctors such as nursing care, infrastructure facilities, paramedic care, emergency services, checking of temperature, weight, blood pressure etc. Also it hires senior doctors/ consultants/ technicians independently, without any cont...

Posted Under: Company Law |

ICAI: Convert from CPC to Foundation Course by 16th August 2019

IMPORTANT ANNOUNCEMENT 17th July, 2019 For kind Attention of students of Common Proficiency Course (CPC) Since June 2019 being last attempt for Common Proficiency Test (CPT), students who have registered in CPC till 30th June, 2017 and have either not been successful in clearing the CPT or on account of any reason not been able […]...

Posted Under: Company Law |

FAQs: Prefill of Data & Import from Previous ITR Version Utility

Article explains How to download and extract an ITR excel utility, How to download and import the prefilled XML to prefill all the personal and tax details to the ITR excel utility, How to import tax details from the previous version of the excel utility and what to do if your are  getting ‘invalid XML’ […]...

Posted Under: Company Law |

Deferred Tax related to Assets & Liabilities arising from a Single Transaction

In this Exposure Draft, the International Accounting Standards Board (Board) proposes to amend IAS 12 Income Taxes. The proposed amendments would require an entity to recognise deferred tax on initial recognition of particular transactions to the extent that the transaction gives rise to equal amounts of deferred tax assets and liabiliti...

Posted Under: Company Law |

Overview of Significant Beneficial (Amendment) Rules, 2019

In order to get rid of various illegal activities like money laundering, benami transactions etc, Ministry, once again came up with new SBO (Amendment) Rules, 2019. In this write up, there is an overview of SBO Rules. As per amended Rules, the term ‘Significant Beneficial Owner’ means any individual acting alone or together or through...

Posted Under: Company Law |

Include Cost Accountants under Definition of Accountant U/S 288(2)

Request for modification of the term Accountant as appearing in the Explanation below sub-section (2) of section 288 of the Income Tax Act, 1961 to include the Cost Accountant therein...

Posted Under: Company Law |

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