"11 August 2020" Archive

Income Tax Department searched premises of Chinese entities

Release ID: 1645219 11/08/2020

Based on the credible information that few Chinese individuals and their Indian associates were involved in money laundering and hawala transactions through series of shell entities, a search action was mounted at various premises of these Chinese entities, their close confederates and couple of bank employees....

Read More

Declaration filed by petitioner in Form SVLDRS-1 is final: HC

Jagadish Advertising Vs Designated Committee (Karnataka High Court)01/01/1970

Jagadish Advertising Vs Designated Committee (Karnataka High Court) The petitioner in this petition has sought for quashing of the statement issued by the Designated Committee in Form Nos. SVLDRS-2 & SVLDRS-3 and is seeking for a direction to the Designated Committee to accept the declaration made by him in Form No.SVLDRS- 1 as final....

Read More

Section 8 Company Incorporation Process through Spice+

01/01/1970

ALL about Sec 8 Company Incorporation Process Walk-through and Do’s and Don’ts- Section 8 Company Incorporation Process through Spice+ In India, the organizations which have an objective of promoting the fields of arts, commerce, science, research, education, sports, charity, social welfare, religion, environment protection, o...

Read More
Posted Under: Income Tax |

Employee Stock Option Plan – A complete concept

01/01/1970

Meaning of ESOP It is a system by which a company allows its employees to purchase shares of the company. In certain cases, a foreign holding company provides the employees of an Indian subsidiary with such an option. Under this scheme, employees are granted options, which allows the employee to buy the stock at a […]...

Read More
Posted Under: Income Tax |

Refund of input services under inverted duty structure – VKC Footsteps

01/01/1970

The case of VKC Footsteps – Refund of input services under inverted duty structure The historic judgement of Honorable Gujarat High Court in the case of VKC Footsteps India Pvt Ltd with respect to refund of input services, which otherwise was restricted by the rule. In this case the petitioner is engaged in the business […]...

Read More
Posted Under: Income Tax |

What is residential status under Foreign Exchange Management Act, 1999

01/01/1970

Determining the residential status is the starting point to understand the: – The extent to which a person is regulated for cross border transactions; –The extent of the Income-tax liability. Two laws were residential status is most relevant are Income-tax Act, 1961 (ITA) and Foreign Exchange and Management Act, 1999 (FEMA). We often ...

Read More
Posted Under: Income Tax |

Deduction under Section 80C

01/01/1970

Deductions under section 80C to 80U are allowed from gross total income to compute total income however deduction is allowed only from normal income. Deductions are not allowed from- ♣ Long term capital gains, Section 112 ♣ Casual income, Section 58(4) ♣ Short term capital gains on sale of short term equity shares or short […...

Read More
Posted Under: Income Tax |

SEBI (IFSC) Guidelines, 2015 Amendments

01/01/1970

1.  Eligibility criteria and shareholding limit for Clearing Corporation : 1. Any Clearing corporation or 2.  any Indian recognized stock exchange or 3. Any clearing corporation of  a foreign jurisdiction Shall form a subsidiary which provide the service of clearing corporation in IFSC wherein at least 51% of paid up share cap...

Read More
Posted Under: Income Tax |

Relaxed Time to file forms for creation or modification of charges

01/01/1970

Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 General Circular No. 23/2020 The scheme shall come into effect from the date of issue of this Circular i.e. 17-06-2020 As per the provisions of the companies Act the Charge holder required to File Form […]...

Read More
Posted Under: Income Tax |

All about debentures and issue process

01/01/1970

As per section 2(30) of Companies Act, 2013, Debentures includes Debentures Stocks, Bonds or any other instrument of a company evidencing a debt, whether constituting a charge on the assets of the Company or not provided that (a) The instrument referred to in chapter III-D of RBI act. 1934; and (b) Such other instrument as […]...

Read More
Posted Under: Income Tax |

Search Posts by Date

April 2021
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930