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Archive: 23 September 2020

Posts in 23 September 2020

Insure Your Life in 100% Cashless Way!!

September 23, 2020 2781 Views 1 comment Print

Max Bupa Health Insurance has come up with a Brand New Max Bupa ReAssure Health Insurance Plan. which will give you complete coverage not only against COVID-19 but for all medical needs.

Addition based on mere Whatsapp messages is not sustainable

September 23, 2020 6468 Views 0 comment Print

Addition was made merely on the basis of whatsapp messages and the statement recorded from section 132(4) from Shri Lanka Anil Kumar which was subsequently retracted. Therefore we are of the view that the addition made by the AO is unsustainable.

Companies (Amendment) Bill, 2020 Changes to Companies Act, 2013

September 23, 2020 32778 Views 0 comment Print

It appears that 2020 has been the year of various amendments for the corporates. With various amendments, the Government has again laid down another set of amendments by way of Companies (Amendment) Bill, 2020. The Union Corporate Affairs Minister Nirmala Sitharaman moved the Bill for passing in the Upper House (Rajya Sabha) on September 22, […]

Dishonour of Cheque: Drawee need not wait for 15 days if intention of drawer to not pay is clear

September 23, 2020 6426 Views 0 comment Print

Ravi Dixit Vs State of U.P. and Another (Allahabad High Court) Learned counsel for the petitioner has submitted that the summoning order is without compliance of provisions of Section 138 of the Act, 1881; the application has been falsely implicated due to enmity and financial dispute with the complainant and that cheques were dishonoured as […]

Rationalization of Eligibility criteria & Disclosure requirements for Rights Issues

September 23, 2020 618 Views 0 comment Print

Securities and Exchange Board of India Press Release No. 51/2020 Rationalization of Eligibility criteria and Disclosure requirements for Rights Issues SEBI has decided to amend SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 to rationalise eligibility criteria and disclosure requirements for Rights Issues’ with an objective to make the fund raising through this route, […]

No penalty on additional income admitted though there was no evidence

September 23, 2020 1731 Views 0 comment Print

ACIT Vs Deccan Jewellers Pvt. Ltd. (ITAT Visakhapatnam) We find from the orders of the lower authorities that the basis for additional income was only estimation but not supported by any evidence. Even the department failed to substantiate the industry average of purification loss with authenticated documentary evidences. The assessee submitted that the additional income […]

Deposit/opening of account through withdrawal form (SB-7) allowed in Post Offices

September 23, 2020 8484 Views 1 comment Print

Regarding acceptance of withdrawal form (SB-7) with passbook for subsequent deposit/ opening of new account for National (Small) Savings Schemes in GDS Branch Post Offices S.B. Order 32/2020 e.F.No. FS-13/1/2020-FS Government of India Ministry of Communications Department of Posts (F.S. Division) Dak Bhawan, New Delhi Dated :- 23.09.2020 To, All Head of Circles/Regions, Subject:- Regarding […]

Procedure of capturing PAN of promoters from listed companies- Reg.

September 23, 2020 1935 Views 0 comment Print

It has been decided to use the procedure of capturing the PAN of the promoters from listed companies as mentioned in para 2,3 & 4 of the Annexure A of the circular dated September 09, 2020 for SAST disclosures too.

SEBI guidelines on resources for Mutual Fund Trustees applicable from 01.01.2021

September 23, 2020 615 Views 0 comment Print

Securities and Exchange Board of India CIRCULAR SEBI/HO/IMD/DF4/CIR/P/2020/178 September 23, 2020 All Mutual Funds (MFs)/ Asset Management Companies (AMCs)/ Trustee Companies/ Board of Trustees of Mutual Funds/ Association of Mutual Funds in India (AMFI) Sir/ Madam, Sub: Resources for Trustees of Mutual Funds 1. SEBI, vide circular no. SEBI/HO/IMD/DF4/CIR/P/2020/0000000151 dated August 10, 2020, has issued […]

ICSI Request for extension of timelines due to COVID-19

September 23, 2020 15657 Views 0 comment Print

As your good self is aware that impact of COVID-19 pandemic has been harsh and the economy is struggling to come out of the crisis. The corporates are facing challenging times to meet the ends and function smoothly. Considering the current crisis, we request your esteemed office to consider further relaxations in due dates of the following compliances:

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