Direct Tax, Vivad se Vishwas scheme covers the case where the writ petition has been filed by the taxpayer before appellate forum i.e. High Court or Supreme Court.
This year the tax department is also ready to play different types of holi with the taxpayers, of which the Income Tax department will be playing the Floral holi (Foolonki holi) and the GST department will be playing Latthmar Holi. Lets discuss about it in detail.
Introduction: The Ministry of Corporate Affairs (MCA), after consultation with the National Financial Reporting Authority (NFRA) constituted under section 132 of the Companies Act, 2013, has published in the Gazette of India an Order in supersession of the Companies (Auditor’s Report) Order, 2016, which may be called the Companies (Auditor’s Report) Order, 2020 (hereinafter referred […]
Understand the impact of Ind AS on Non-Banking Financial Companies (NBFCs) in India. Learn about the applicability and roadmap of Ind AS for NBFCs.
Scheme of reconstruction of Yes Bank Ltd: some suggestions on the draft scheme. Executive Summary: I have carefully gone through the scheme of merger and as hardcore banker, I feel RBI may look at Sec 19(2) of Banking Regulation Act which cover aspects like applicability of SEBI take-over code and Pricing of the shares of […]
The objective of the Ind AS 116 is to ensure that lessees and lessors provide relevant information in a manner that faithfully represents those transactions. To achieve this objective, the Standard sets out the principles for the recognition, measurement, presentation and disclosure of leases.
As dividend become proposed to be taxable, litigation u/s 14A (Expenses incurred in relation to exempt income) now will be reduced. However, deduction of interest as proposed u/s 57 may lead to kind of litigation as was there u/s 14A.
As we know that employers use to contribute to the retirement benefit schemes of employees to enable them to maintain a quality life after retirement. Generally these contribution by employer can be in any one or in combination of following three forms: 1. Contribution to PF (Provident Fund) of the employees (Recognised PF, Unrecognised PF […]
Article provides List of goods and services under Reverse Charge Mechanism (RCM) under GST Regime as on 01/03/2020 alongwith date from which the same is under RCM. For Goods S. No. Particular Effective date 1. Cashew nuts, not shelled or peeled 01/07/2017 2. Bidi wrapper leaves (tendu) 01/07/2017 3. Tobacco leaves 01/07/2017 4. Silk yarn […]
Ministry of Corporate Affairs (MCA) vide its Notification number G.S.R. 804(E) dated 22nd October, 2019 had amended the Companies (Appointment and Qualification of Directors) Rules for Registration of Independent Directors in the databank within 3 months effective from 1st December, 2019 by applying online to the Indian Institute of Corporate Affairs (IICA). With effect from 28th […]
