"06 December 2019" Archive

No deduction for advertisement expenses paid to non existent companies

Fiitjee Ltd Vs PCIT (Delhi High Court)

Web advertisement expenses and depreciation claimed by assessee in respect of software purchase was not an allowable deduction as the expenses claimed by assessee were bogus and assessee would not have been able to substantiate the genuineness of the transactions by producing relevant and material evidence....

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FASTag – Electronic Toll Collection

FASTag is a digital system which has been developed by the National Payments Corporation of India (NPCI). It is based on National Electronic Toll Collection (NETC) programme. Due to the recent mandatory implementation, the word ‘FASTag’ has become more familiar within the general public at large. Implementation of ‘FASTag’ is a hu...

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Posted Under: Income Tax |

Corrigendum to DGFT Notification No. 31/2015-2020 dated 13th November 2019

Notification No. 34/2015-2020-DGFT [S.O. 4370(E)] (06/12/2019)

Central Government hereby notifies that the Notification No.31/2015-2020 dated 13th November, 2019 and published in the Gazette of India , Extraordinary vide number S.O. 4097(E) dated 13th November, 2019 shall be effective from the date on which Section 88 (b) of the Finance (No. 2) Act, 2019 (23 of 2019) is notified by the Department of ...

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Draft Indian Boiler (Amendment) Regulations, 2019

Notification No. G.S.R. 898(E) (06/12/2019)

The following draft regulations to amend the Indian Boiler Regulations, 1950, which the Central Boilers Board proposes to make in exercise of the powers conferred by section 28 of the Boilers Act, 1923 (5 of 1923), is hereby published...

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NEFT System to be available on 24×7 basis wef 16.12.2019

RBI/2019-20/111 DPSS (CO) RPPD No.1097/04.03.01/2019-20 (06/12/2019)

It has been decided that the above facility shall be made available from December 16, 2019 with the first settlement taking place after 00:30 hours on December 16, 2019 (i.e. night of December 15, 2019)....

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SEBI (Issue of Capital And Disclosure Requirements) (Fifth Amendment) Regulations, 2019

Notification No. SEBI/LAD-NRO/GN/2019/42. (06/12/2019)

1. These regulations may be called the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Fifth Amendment) Regulations, 2019. 2. They shall come into force on the date of their publication in the Official Gazette....

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Clarification-Voting on behalf of creditors in a class in CIRP of Jaypee Infratech Limited

No. IBBI/CIRP/JIL (06/12/2019)

Several mails have been received by the Board from some financial creditors in a class, namely, homebuyers expressing confusion about the manner of voting in the context of resolution plan in the corporate insolvency resolution process of Jaypee Infratech Limited. It appears that there is ‘internal voting’ / ‘pre-polling’ on certa...

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