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Archive: 20 September 2019

Posts in 20 September 2019

Extension of Time Period for AGM

September 20, 2019 18612 Views 0 comment Print

Annual General Meeting Notified Date of Section: 01/04/2014 96. (1) Every company other than a One Person Company shall in each year hold in addition to any other meetings, a general meeting as its annual general meeting and shall specify the meeting as such in the notices calling it, and not more than fifteen months shall […]

NCLT cannot direct probe by SFIO into affairs of Company of defrauding creditors & others

September 20, 2019 11862 Views 0 comment Print

Mr. Lagadapati Ramesh Vs Mrs. Ramanathan Bhuvaneshwari (NCLAT Delhi) Section 212 does not empower the National Company Law Tribunal or the Adjudicating Authority to refer the matter to the Central Government for investigation by the ‘Serious Fraud Investigation Office’ even if it notices the affairs of the Company of defrauding the creditors and others. However, […]

CBDT amends Jurisdiction of Principal CITs and CITs

September 20, 2019 3555 Views 0 comment Print

Seeks to amend Notification No. 50/2014-Income Tax dated the 22nd October, 2014 – Jurisdiction of Income-tax authorities (Principal Commissioner of Income-tax/ Commissioner of Income-tax) vide Notification No. 71/2019 dated 20th September, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 71/2019 New Delhi, the 20th September, 2019 (Income-tax) S.O. 3426(E).—In […]

No TDS on cash withdrawal u/s 194N for making payment to farmers

September 20, 2019 51309 Views 1 comment Print

Exemption from TDS on cash withdrawal under section 194N for making payment to farmers – Central Government specifies the commission agent or trader, operating under Agriculture Produce Market Committee (APMC)– Notification No. 70/2019-Income Tax Dated 20th September, 2019 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 70/2019-Income Tax New Delhi, […]

CBDT notifies Additional depreciation on Motor car & motor vehicles

September 20, 2019 130167 Views 19 comments Print

Income-tax (9th Amendment) Rules, 2019 – Additional depreciation on motor cars and motor vehicles shall be allowed in certain conditions- Notification No. 69/2019-Income Tax Dated 20th September, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 69/2019-Income Tax New Delhi, the 20th September, 2019 (Income-tax) G.S.R. 679 (E).—In exercise of […]

Setting up of NeAC as per E-assessment Scheme, 2019

September 20, 2019 1785 Views 0 comment Print

In pursuance of para 4 of the E-assessment Scheme, 2019 made by the Central Government vide Notification No.61 of 2019 dated 12th September, 2019, the Central Board of Direct Taxes hereby sets up National e-Assessment Centre (NeAC), which shall have its headquarters at Delhi and shall comprise of the following Income-tax authorities:-

GST on invoices raised to SEZ Units for accommodation services rendered outside SEZ Zone

September 20, 2019 3378 Views 0 comment Print

In re Poppy Dorothy Noel (GST AAR Karnataka) Whether the IGST at 0% is applicable for the invoices raised to the SEZ Units, even if the accommodation services were rendered outside the SEZ Zone? Provisions in Section 7(5)(b) of the IGST Act, 2017 overrides the provisions in Section 12(3)(c) of the IGST Act, 2017 and […]

Corporate tax rates slashed to 22% and 15% for domestic companies

September 20, 2019 51012 Views 1 comment Print

Corporate tax rates slashed to 22% for domestic companies and 15% for new domestic manufacturing companies and other fiscal reliefs The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for […]

Risk management framework for liquid & overnight funds & norms of investment in short term deposits

September 20, 2019 918 Views 0 comment Print

SEBI Circular on Risk management framework for liquid and overnight funds and  Investment and advisory fees for parking of funds in short term deposits

Tax Treatment of Dividend Received From A Foreign Company

September 20, 2019 86399 Views 4 comments Print

Article discusses about Meaning of dividend, Head of taxability and applicable tax rate, Relief from double taxation, Concessional rate of tax to dividends received from foreign specified company,

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