"19 August 2019" Archive

Non-compliance with certain provisions of SEBI ICDR Regulations

Circular No. SEBI/HO/CFD/DIL2/CIR/P/2019/94 (19/08/2019)

SEBI Circular on Non-compliance with certain provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)...

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New Cheque Bounce Provisions give MSME’s more power in Cheque Bounce Cases

An Amendment Act was brought by the Government to meet reducing the undue delay in the cases of dishonor of cheques and to provide payment of interim compensation to the complainants. The MSME’s in particular have been representing that due to delay tactics, easy filing of appeals and obtaining stay on proceedings, the very purpose of s...

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Posted Under: SEBI |

Section 194DA TDS on Sum received under life insurance policy

Under section 194DA of the Act, a person is obliged to deduct TDS, if it pays any sum to a resident under a life insurance policy which is not exempt under sec 10 (10D). At present, TDS is required to be deducted @ 1% on such sum at the time of payment. However, TDS is not deductible if the amount of such payment is less than one lakh rup...

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Posted Under: SEBI |

GST impact on expiry of drugs and medicines

Drugs and medicines are classified as goods in GST as it involves selling of drugs and medicines from one to another in a systematic chain i.e. Manufacturer sells to Wholesaler and wholesaler to retailer on an Invoice/bill of supply. Such goods have a defined life term which is normally referred to as the date of expiry. Goods which have ...

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Posted Under: SEBI |

Representation on Income Tax and GST Issues faced by taxpayers

We take this opportunity to bring to your kind attention certain very important issues in Income Tax and GST which need to be addressed by the government to further strengthen tax payers’ confidence. ...

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Posted Under: SEBI | , ,

Request for Extending Due Dates for filing Annual GST Returns

Professional Accountants And Tax Consultants’ Association requested to Honorable FM to Extend the Due Dates stipulated for filing Annual GST Returns i.e. GSTR9/9A/9C for the year 2017-18 under the GST Law. Text of their representation is as follows:- PROFESSIONAL ACCOUNTANTS AND TAX CONSULTANTS’ ASSOCIATION (Registered under T...

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Posted Under: SEBI | ,

Will, The Most Important Document of Our Life

Human life is capable to create his/her own destiny. He/She creates his/her own path of success. We work hard to create a comfortable life for ourselves and our loved ones. Every individual acquires some wealth during his/her life time. Even an average individual has some balance left in his/her savings account which he/she wishes to pass...

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Posted Under: SEBI |

Women and Financial Planning

Although women constitute a large percentage of work forces today, it is hardly seen that they are active into any financial planning. This is true for even women who have thriving careers and make lots of money through their salaries, business or professions....

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Posted Under: SEBI |

Reassessment based on Documents already in hand of AO not Valid

DCIT Vs Sovereign Pharma Pvt. Ltd. (ITAT Pune)

DCIT Vs Sovereign Pharma Pvt. Ltd. (ITAT Pune) A bare perusal of reasons for reopening would show that the Assessing Officer has erred in invoking the provisions of section 148 r.w.s. 147 after the expiry of four years to cover up his own follies. It is not the case of Revenue that the assessee has […]...

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Posted Under: SEBI | | ,

Request for extension of due date of Annual Return- GSTR-9

Taxpayers and tax professionals are struggling with compliance for F.Y. 2017-18 for filing the Annual Return called GSTR-9, Annual Return due date is extended from 30th June, to 31st August, 2019 for F.Y. 2017-18....

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Posted Under: SEBI | ,