Revised enhanced minimum threshold limit of tax effect of Rs. 50,00,000 vide recent CBDT Circular No. 17/2-19, dt. 8-8-2019 was applicable not only for appeals to be filed by revenue in future; but also for appeals already filed by revenue in ITAT. Accordingly, all existing appeals in ITAT, having tax effect below revised/enhanced limit of Rs. 50,00,000, had to be treated as withdrawn/not pressed, and therefore, not maintainable.
Impact of tax on long-term capital gains (LTCGs) , grandfathering & assessment of revised / concessional tax rate The article illustrates taxation on long term capital gains of equity shares under the grandfathering provisions aligned with change in tax rate under the Taxation (Amendment) Ordinance, 2019: I. Tax on Long-term capital gains Long-term capital gains […]
If you want to walk fast, walk alone. But if you want to walk far, walk together. – Ratan Tata Let us first go through this data published Professional Development Committee ICAI February-2019 edition, where almost 70% CA practicing as a Proprietorship firm and around only 3% partnership firm having more than 6 partners. There […]
Private Placement As Per Section 42 Read With Rules Made Thereunder of The Chapter III, Part II of The Companies Act, 2013 Meaning of Private Placement: A Private Placement means an issue of securities to a selected group of identified persons whose number shall not exceed 200 (excluding the qualified institutional buyers and employees of […]
Brief overview of the Company Fresh Start Scheme, 2020 : -In addition to circular 11/2020 dated 24th march, 2020. -One time opportunity of filing of forms without additional fee and immunity for prosecution and proceeding for penalty on account of such delayed filings. -Only normal fees are required to be paid. -It also gives an […]
Ahilya Devi Wife of Late Birendar Yadav Vs State of Bihar (Patna High Court) It is eminent that clause (ii) of sub-Section (1) of Section 45 of the Act places two conditions for release of a person accused of an offence under the Act, on bail, if a Public Prosecutor opposes the bail application, namely; […]
The Notification No. 50/2015-20 dated 03.03.2020 is further amended to remove restriction on export of Paracetamol APIs, making its export free with immediate effect.
Kindly note that due to current pandemic situation and lockdown measures across the country, the due date for payment of Annual Listing Fees for F. Y. 2020-21 has been extended to June 30,2020.
Public Notice No. 07/2015-2020 Additional quantity of 3569 MT of raw cane sugar and refined sugar, for export to USA, under TRQ, upto 30.09.2020, has been notified.
Works contract for fitting out or implanting of prosthetics into the physiology or the body of the patient for alleviation of pain or for improvement of the life of the patient in the course of medical/surgical procedure could be construed as ‘works contract’ liable for VAT under the provisions of the Tamil Nadu Value Added Tax Act, 2006.
