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Archive: 09 July 2020

Posts in 09 July 2020

How to submit Response to Outstanding Income Tax Demand

July 9, 2020 109825 Views 32 comments Print

Once the e-Filed returns are processed and outstanding tax demand available in e-Filing portal, assessee is facilitated to submit the response against outstanding tax demand raised by CPC/AST. In this article we have discussed how a Taxpayer can submit online response against such Income Tax Demands :-

How to meet your TDS Obligations?- Tax Deductee’s Guide

July 9, 2020 20122 Views 5 comments Print

On verification of Form No. 26AS, if there is any inconsistency between the TDS details as provided by the deductor and TDS details available with the Government records (i.e. mismatch) then the deductee should intimate the same to the deductor. Mismatch in tax credit status of a deductee is because of : Non-quoting of PAN […]

TDS wrongly deposited-Claim of refund- Delhi HC judgement

July 9, 2020 2439 Views 0 comment Print

Present writ petition has been filed seeking a direction to the respondents to remove technical glitches and enable the TRACES portal so that petitioner can file its refund application for the excess Tax Deduction at Source (TDS) deposited by it.

Regulatory Updates for the month of June 2020

July 9, 2020 1719 Views 2 comments Print

SEBI, vide circular dated June 09, 2020, has eased out the conditions related to Fast Track Further Public Offer (FPO) as contained in the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (ICDR Regulations)

SC: Dispute of Inheritance of Shares is a Civil dispute- cannot be decided under Companies Act

July 9, 2020 4767 Views 0 comment Print

The Supreme Court on 6 th July 2020 in the case of Aruna Oswalvs Pankaj Oswal has categorically held that dispute about inheritance of shares is a civil dispute and the same cannot be decided in proceedings under Section 241/ 242 of Companies Act, 2013. The brief facts of the case are that Late Abhey […]

Fast Track Mergers – With all aspects, procedure & difficulties

July 9, 2020 10287 Views 3 comments Print

Fast Track Mergers The introduction of the concept of fast track mergers or FTMs has led to a significant change in the M&A landscape. Prior to the introduction of FTM vide section 233 and Rule 25 of Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 there was one unified merger process for all companies. This process […]

Section 10A in IBC 2016: No fresh insolvency for default during lockdown

July 9, 2020 3435 Views 0 comment Print

The President of India through Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 (No. 9 of 2020) on 5th June, 2020 announced some major relief for the corporate debtors as COVID 19 pandemic  owing to the  nationwide lockdown is in force since 25th March 2020 has resulted in disruption in business, financial markets and economy in […]

Simplifying Joint Development Agreements

July 9, 2020 6789 Views 0 comment Print

Simplifying Joint Development agreements (JDA) I am going to tell u what is Real Estate sector Real Estate Sector: A real estate business is a business entity that deals with the buying, selling, management, or investment of real estate properties. Real estate is “the property, land, buildings, air rights above the land and underground rights […]

Coping with COVID-19: IBC

July 9, 2020 774 Views 0 comment Print

The outbreak of coronavirus pandemic resulted in lockdown 1 in India on March 25, 2020. The whole country was on a stand-still and all the work had been paused for an indefinite period. Only the medical sector as well as the essential commodities sector was functioning. With companies’ operations at a halt, various companies, partnerships, and sole proprietorships were on the verge of insolvency.

Comparative Analysis of Indirect Tax regime in India & Singapore

July 9, 2020 4836 Views 0 comment Print

The tax system in India was very complex in nature, but post GST implementation the process has become smoother. It is inclusive of all indirect tax which helps in eradicating the cascading effect of tax as a whole. Tax structure in India is a three tier federal feature, which is made by central government, state […]

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