Highlights of Webinar on BEN-2 by The ICSI ON 12th July and On 20th July. 1. The indirect holding is mandatory for the consideration of significant beneficial owner (SBO). 2. If the SBO is HUF than the karta deemed to hold 100% shares of HUF so karta is treated as SBO and 10% holding is […]
Recently, section 50 of Central goods and services tax act was amended to provide that interest will now be charged on only that portion of the GST liability which is paid by debiting the electronic cash ledger. The present rate of interest on the delayed payment of tax liability is 18% per annum on unpaid […]
Applicability of the ESI scheme The ESI scheme is applicable to all factories and other establishments as defined in the Act with 10 or more persons employed in such establishment and the beneficiaries’ monthly wage does not exceed Rs 21,000 are covered under the scheme. Whether the employer has employed 10 or more employees, all […]
What is SBO ID: The SBO id is a 10 digits unique identification number of such person. The rule “ONE ID FOR ONE PERSON” prevails here.
Khivraj Tech Park Pvt Ltd. Vs Union of India (Madras High Court) The petitioner was granted permission for setting up a ‘Software Technology Park’ and a communication dated 29-11-2005 was sent by the Ministry. Since their imports had already arrived during October-November 2005, an amendment of the effective date of approval to 4-4-2005 was sought, […]
On this 159th Income Tax Day, I extend my best wishes to each and every member of the Aaykar Parivar and their families. I feel honoured leading such a glorious and professional service, made even more special by the untiring contribution of each and every employee of the Department.
Indian Accounting Standards Standards applicable to Financial Instruments: Ind AS 32 : Financial Instruments: Presentation Ind AS 39 : Financial Instruments: Recognition and Measurement Ind AS 107 : Financial Instruments: Disclosures Ind AS 109 : Financial Instruments OBJECTIVES Standard No. Standard Objective Ind AS 32 (Complement to Ind AS 39 and Ind AS 107) Establish […]
The present article tries to explain the readers the provisions covered under section 194G of the Income Tax Act, 1961 relating to TDS on commission on purchase / distribution / sale and other activities of lottery tickets. Basic provisions governing section 194G Section 194G requires the person, who is paying any income by way of […]
Vikas Goel Vs Deputy Director, Directorate General of Goods and Service Tax Intelligence (Punjab and Haryana HC) Petitioner has filed this second petition under Section 439 of the Code of Criminal Procedure, 1973 for grant of regular bail in a complaint case bearing No.COMA-137 dated 13.11.2018, titled as ‘Shankar Prasad Sarma Versus MICA Industries and […]
In the matter, it has been brought to the notice of this Directorate that a typographical error has occurred in the aforementioned Trade Notice as there has been an interchange in HSN Codes of Urad and Moong. Since, consequent to the Notice inviting applications, import authorizations have been issued for Urad, Moong and Tur dal based on the HSN Codes appearing in the aforementioned Trade Notice
