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Archive: 15 September 2020

Posts in 15 September 2020

Section 263 revision against void-ab-initio order or against a non-existent entity

September 15, 2020 2826 Views 0 comment Print

Revision under section 263 by the Principal Commissioner or Commissioner against void-ab-initio order or against a non-existent entity If an order is passed by the Assessing Officer against a non-existent entity, e.g. against an Amalgamating Company or against a Dissolved Firm, such an order is void-ab-initio and no revision can be made under section 263 against such […]

Scope of ‘Real Income Theory’ in Transfer Pricing

September 15, 2020 4593 Views 0 comment Print

1. INTRODUCTION TO TRANSFER PRICING: In general, Transfer Pricing (TP) refers to determination of Arm’s Length Price (ALP)  for transfer of goods, services and technology between Associated enterprises (generally referred as related parties) who are otherwise known as members of Multi National Entities (MNE) or between unrelated parties which are controlled by a common party. […]

What Is Form No. 16

September 15, 2020 10983 Views 12 comments Print

Article explains What is Form-16 (Salary Certificate), What is the Due date to get Form-16 from employer, Contents of Form-16, Is it mandatory to file return of income even after deduction of TDS on Salary by Employer, Some FAQ’s related to Form 16, Due date of filing ITR for individual salaried person. 1. What is […]

Practical aspects related to Income Tax assessments/re-assessments

September 15, 2020 6720 Views 6 comments Print

In any assessment/-re-assessment there are various practical aspects involved which should be dealt with very carefully to make sure that the law is properly followed and any shortcoming of the revenue in issuing notices, obtaining approvals etc. should be duly highlighted in the assessment/-re-assessment proceedings.

Proposed change to term intermediary services as export of services

September 15, 2020 1452 Views 0 comment Print

Representation made in ST & GST era have landed on deaf ears for intermediary to be considered as exports from India This is not in line with the EU best practice which seeks to avoid double taxation.

SEBI Regulation- Changing Landscape of Investment Advisory

September 15, 2020 1182 Views 0 comment Print

SEBI (Investment Advisers) (Amendment) Regulations, 2020– Changing Landscape Of Investment Advisory Being a financial advisor is not easy, specially in the current situation when the coronavirus pandemic and containment measures have plunged the global economy into deep contraction. Investment advisory fraternity is not only engaging with their clients to support them in this crisis like […]

SEBI circular on Multi cap funds and its impact on Investor

September 15, 2020 1959 Views 2 comments Print

Decoding recent SEBI announcement on Multi cap funds and its impact on you as an Investor The Securities and Exchange Board of India (SEBI) on Friday 11th Sep 2020 announced a detailed structure for multi-cap Mutual Funds. How these changes in Multi cap funds impact you as an Investor? What is the opportunity in Direct […]

Changes in duty liability on DTA clearances from EOU applies prospectively only

September 15, 2020 7626 Views 0 comment Print

L. R. Brothers Indo Flora Ltd. Vs. Commissioner of Central Excise (Supreme Court) The appellant being a 100% EOU and into manufacture of cut flowers, without obtaining the approval of the Development Commissioner and without maintaining the requisite net foreign exchange earning, made DTA sales to the extent of Rs.38,40,537/­ during 1998­-99 to 2000­01 (upto […]

GSTR 9 and GSTR 9C Effects

September 15, 2020 3432 Views 0 comment Print

Effects of Different Situations under GST  relevant to Sales Invoice, Sales Debit Note, Sales Credit Note, Purchase Invoice, Purchase Credit Note and Purchase Debit Note assuming following two situations- Assuming Invoices and Debit/Credit Notes Entered In Books Assuming Invoices and Debit/Credit Notes Not Entered In Books

Impact on Penalties/ Fine/ Imprisonment – Companies (Amendment) Bill, 2020

September 15, 2020 648 Views 0 comment Print

In this article Impact on Penalties/ Fine/ Imprisonment of Companies (Amendment) Bill, 2020 is been analysed. 1. Section – 8(11) – Formation of Companies with Charitable Objects, etc. AFTER AMENDMENT If a company makes any default in complying with any of the requirements laid down in this section, the company shall, without prejudice to any […]

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