"24 September 2019" Archive

Time limit for filing e-form No. BEN-2 extended upto 31.12.2019

General Circular No. 10/2019 24/09/2019

General Circular No. 10/2019– Time limit for filing e-form No. BEN-2 is extended upto 31.12.2019 without payment of additional fee and thereafter fee and additional fee shall be payable. Consequent to the extension in the date of filing of e-Form BEN-2, the date of filing of Form BEN-1 may be construed accordingly. General Circular ...

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TDS on Payment made to jewellery market exhibition for stall at exhibition

OTM Jewellery (P) Ltd. Vs ITO (ITAT Delhi)

Where basic evidence to prove the contention of assessee was contract between assessee and organizers, which assessee failed to produce before AO and contentions as raised by assessee have not been substantiated through any evidence or material on record, therefore, space was allotted to assessee for carrying out its business activities a...

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Know all about Interim Resolution Professional under IBC

Article explains about Eligibility of Insolvency Professional, Appointment of Interim Resolution Professional, Tenure of Interim Resolution Professional and Management of affairs and Business of the corporate debtor after appointment of Interim Resolution Professional under IBC. Eligibility for Insolvency Professionals:- [Regulation -4 of...

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Posted Under: Company Law |

Notice to ICAI for Negligence of Examiner stopping student from becoming CA

Gross Negligence of Examiner in evaluating correct MCQ Answers as wrong stops CA Final student from becoming CA, legal notice to ICAI issued for rectifying the errors. Advocate Paras Jain has served the attached legal notice to Institute of Chartered Accountants of India (ICAI) for rectifying the mistakes committed by the Examiner in MCQ ...

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Posted Under: Company Law |

Delegated Legislation – Pain or Gain??

The Theory of Separation of Power promulgated by Montesquieu states that, the responsibilities and power of these branches of government should be kept separate from each other without any kind of interference. However, broadly speaking, their categorical roles can’t exactly be confined into a water tight compartment....

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Posted Under: Company Law |

Bench marking of Most Appropriate Option for Taxation of Domestic Companies

Government has brought in the Taxation Laws (Amendment) Ordinance 2019 and announces major relief in corporate tax for domestic companies, in order to boost the Make in India initiative. Corporate tax reduced to 22% (Effective Tax Rate 25.17% inclusive of Surcharge and Cess) for domestic firms while for new manufacturing companies, tax ra...

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Posted Under: Company Law |

No ST under RCM on deployment of Employees of Parent Company & Payment of Salaries to them

Komatsu India Pvt. Ltd. Vs. Commissioner of Service Tax (CESTAT Chennai)

The issue under consideration is whether the service tax under RCM will be levied on deputed employees working under control, direction and supervision of overseas companies?...

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Request to extend due date for submitting Tax Audit Reports/related ITR

Chartered Accountants’ Association Ahmedabad requested that CBDT shall exercise the discretionary powers vested in it under section 119 of the Act, by extending due date of 30th September, 2019, to ameliorate the difficulties faced by the assessees on account of no default on their part, by extending the due date for filing the inco...

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Posted Under: Company Law | ,

HC Quashes Non-Speaking Order for Detention of Goods under GST Law

India Logistics And Cargo Movers Vs State of Gujarat (Gujarat High Court)

India Logistics And Cargo Movers Vs The State of Gujarat (Gujarat High Court) It was incumbent upon the GST Department to give reasons in support of their conclusion that the goods in question and the conveyance are required to be confiscated. However, the impugned order is totally bereft of any reasons, in the absence of […]...

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e-File Your Income Tax Return

e-Filing – Objective What is e-Filing The process of electronically filing Income tax returns through the internet is known as e-Filing. Objective √ “To make it possible for the tax payers, tax Deductor, tax professionals, other agencies directly or through authorized intermediaries, to submit their Returns and other forms...

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Posted Under: Company Law |

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