"03 February 2020" Archive

Six months GST Return filing default for Cancellation of Registration

Phoenix Rubbers Vs Commercial Tax Officer (Kerala High Court)

Default in filing return for the period of six months should be existing both at time of issuance of notice and passing order for cancellation of the registration under Section 29(2)(c), sets aside the order cancelling the registration....

No Tax on Interest accrued on Govt grant received for construction of house for Police

PCIT Vs Punjab Police Housing Corporation Ltd. (Punjab and Haryana High Court)

Income which accrued to the Assessee from the funds of the Government which were released to it were not diverted by it and could not be diverted by to any other purpose and had to be used only for the purposes which the Government directed and in case the funds were not used the Government had the right to recall them....

No TDS on export freight to shipping agent of non-resident

PCIT Vs  Summit India Water Treatment (Gujarat High Court)

In the given case, the respondent assessee has filed its return of income for the assessment year 2013-­14. The Principal Commissioner of Income Tax invoked power of revision under Section 263 of the Act, 1961 on the ground that without deducting TDS on the export freight, the assessee company had paid export freight to Inter Ocean Shipp...

Nidhi (Amendment) Rules, 2020

Notification No. G.S.R. 81(E). 03/02/2020

MCA notifies substituted Form NDH-1, NDH-2 & NDH-3 and issued revised FORM NO. NDH-1- Return of Statutory Compliances, FORM NO. NDH-2 – Application for extension of time and FORM NO. NDH-3 – Return of Nidhi Company for the half year. Government of India Ministry of Corporate Affairs Notification New Delhi, 03rd Feb, 2020 G...

Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2020

F. No. 2/31/CAA/2013-CL.V [G.S.R. 79(E).] 03/02/2020

(1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2020. (2) They shall come into force on the date of their publication in the Official Gazette....

National Company Law Tribunal (Amendment) Rules, 2020

Notification No. G.S.R. 80(E) 03/02/2020

These rules may be called the National Company Law Tribunal (Amendment) Rules, 2020. They shall come into force on the date of their publication in the Official Gazette....

MCA notifies sub-sections (11) & (12) of section 230 wef 03.02.2020

F. No. 2/31/CAA-2013-CL-V (Part) 03/02/2020

Central Government hereby appoints the 03rd of February,2020 as the date on which the provisions of sub-sections (11) and (12) of section 230 of the Companies Act, 2013 shall come into force....

CA Foundation & IPC Nov 2019 Exam- Pass Percentage & Toppers

The Institute of Chartered Accountants of India (ICAI) today announced the results of Chartered Accountants Intermediate (IPC) / Intermediate (New) and Foundation Examinations held in November, 2019. Here we are providing Details of top three rank holders and result analysis  in terms of Pass percentage on All India Basis for Intermediat...

New Income Tax Regime for Individual and HUF- Budget 2020

In line with the options provided to the domestic company and co-operative societies, similar option proposed to individual or HUF upon satisfaction of certain conditions by incretion of new section 115BAC to pay concessional rate of tax on total income as follows: Total Income (Rs.) Rate of Tax Up to 2,50,000 Nil From 2,50,000 to [&helli...

Budget 2020 – Forgotten welfare of Tax Payers

Hon’ble Finance Minister, Smt. Nirmala Sitha Raman has presented a lengthiest Wonderful budget, made navel and result oriented allocations, Proposed Sixteen point formulae for doubling the farmers income is Welcomed by all the citizen of India with praise. The reforms brought for corporate sector also applauded and may also instigate mo...

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