"15 October 2019" Archive

Restriction on availment of ITC not appearing in GSTR-2A

Restriction on availment of the input tax credits (ITC) not appearing in form GSTR-2A In a major move to linked the ITC of the recipient with the payment of the taxes by the suppliers of the services, Government of the India, Ministry of the Finance vide notification number 49/2019-Central Tax dated 09th October 2019, has amended Centra...

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Annual Return | Form No. MGT-7 | Section 92 | Companies Act 2013

ANNUAL RETURN Q.) WHAT IS ANNUAL RETURN? Section 92 of the Companies Act, 2013 requires every company to prepare an annual return, a comprehensive document which contains information of a company relating to its share capital, indebtedness, directors, shareholders, changes in directorships, corporate governance disclosures etc. The annual...

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Companies (cost records and audit) Amendment Rules, 2019

Notification No. G.S.R. 792(E). (15/10/2019)

The companies who have already filed their Cost Audit Report in form CRA-4 for the financial year 2018-19 with the Central Government before the publication of this notification are not required to file their Cost Audit Report for the said financial year....

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5 Steps to Becoming a Successful Forex Trader

Working as a trader for a living is something most of the millennials today aspire to. You could be your boss, work on your schedule and set your own goals. Not just that, you could work from anywhere with a stable internet connection. What else could one wish for? However, if forex trading is your […]...

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CBDT exempts from TDS cash withdraws by Authorised dealer & FFMC

Notification No. 80/2019-Income Tax [S.O. 3719(E)] (15/10/2019)

CBDT exempts cash withdrawal by the authorised dealer and its franchise agent and sub-agent; and Full-Fledged Money Changer (FFMC) licensed by the Reserve Bank of India and its franchise agent from TDS under Section 194N subject to conditions specified in Notification No. 80/2019-Income Tax dated 15th October, 2019. MINISTRY OF FINANCE (D...

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Constitutional validity of notification capping ITC to 20%

Constitutional validity of this tyrannical notification No. 49/2019 dated 9-10-2019 capping the ITC to 20% The point of contention in this latest Notification No. 49/2019 dated 9-10-2019 wherein revenue placed the 20% as maximum cap for availing ITC on Invoices not uploaded by the supplier. Isn’t this notification is just a vice versa s...

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What factors can affect your home loan eligibility?

If you are looking forward to buying your dream house, you may consider availing a home loan that fulfills all your requirements. Factors such as low-interest rates, flexible repayment options, minimal formalities, and quick disbursal decide the viability of a home loan. It is important that you study all the features of your home loan [&...

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Section 54/54F: New residential house need not be purchased by assessee in his own name

Mrs. A. Vijayakumari Vs ITO (ITAT Chennai)

Mrs. A. Vijayakumari Vs ITO (ITAT Chennai) The provisions of section 54 of the Act are beneficial and are to be considered liberally for reasonable bonafide cause but investment in residential property is mandatory which is not in dispute in this case. The Assessing Officer was not justified in rejecting the case law relied on […]...

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Cyber Security & Cyber Resilience framework for KYC Registration Agencies

SEBI/HO/MIRSD/DOP/CIR/P/2019/111 (15/10/2019)

Since KYC Registration Agencies (KRAs) perform important function of maintaining KYC records of the clients in the securities market, it is desirable that KRAs have robust Cyber Security and Cyber Resilience framework in order to provide essential facilities and perform systemically critical functions relating to securities market....

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Cyber Security & Cyber Resilience framework for Qualified Registrars to an Issue / Share Transfer Agents

Circular No. SEBI/HO/MIRSD/DOP/CIR/P/2019/110 (15/10/2019)

Quarterly reports containing information on cyber-attacks and threats experienced by QRTAs and measures taken to mitigate vulnerabilities, threats and attacks including information on bugs / vulnerabilities / threats that may be useful for other QRTAs should be submitted to SEBI in soft copy to rta@sebi.gov.in....

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