"29 September 2020" Archive

TDS under Section 194O- CBDT issues Guidelines

Circular No. 17 of 2020-Income Tax 29/09/2020

Finance Act, 2020 inserted a new section 194-0 in the Income-tax Act 1961 which mandates that with effect from 1st day of October, 2020, an e-commerce operator shall deduct income-tax at the rate of one per cent (subject to the provisions of proposed section 197B of the Act) of the gross amount of sale of goods or provision of service or ...

7 Important decision in SEBI Board Meeting held on 29.09.2020

Press Release No. 52/2020-SEBI 29/09/2020

SEBI Board, inter-alia, took the following decisions: I. Amendments to SEBI (Debenture Trustee) Regulations, 1993, SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Listing Obligations and Disclosure Requirements), 2015...

Relaxation related to Validity of SEBI Observations & Revision in issue size

Circulars No. SEBI/HO/CFD/DIL1/CIR/P/2020/188 29/09/2020

SEBI vide circular no. SEBI/HO/CFD/DIL1/CIR/P/2020/66 dated April 21, 2020 had given certain relaxations with respect to validity of SEBI Observations and filing of fresh offer document in case of increase or decrease of issue size beyond a particular threshold....

Companies (Amendment) Act, 2020 – Highlights of amendments

The Companies (Amendment) Act, 2020 (herein after referred to as ‘the Amendment Act’) got the assent of Hon’ble President as on 28th September, 2020 and is thus operative since that date. It was passed by the Lok Sabha on 19th September, 2020 and by the Rajya Sabha on 22nd September, 2020....

Posted Under: Income Tax |

7 Due dates extended by MCA to 31st December, 2020

Extension of due dates for various Schemes, Registration as Independent Director, DIR-3 KYC, holding EGM, till 31st December, 2020 by the Government of India...

Posted Under: Income Tax |

Allowabilty of Input Tax Credit on Lift Under GST

♠ As per Section 16(1) of CGST Act 2017, Every registered taxable person shall, subject to such conditions and restrictions as may be prescribed and within the time and manner specified in section 49, be entitled to take credit of input tax charged on any supply of goods or services to him which are used […]...

Posted Under: Income Tax |

Importance of Circumstantial Evidence in Deciding Cases of Insider Trading

This article tries to map the judiciary’s stance on this issue and analyses the relevance which the judiciary associates to circumstantial evidence in cases of insider trading. This article analyses the above-mentioned issue through the lens of landmark case laws and also briefly touches on the stance of judiciaries of other jurisdictio...

Posted Under: Income Tax |

Extension of timelines for various Company Law compliances under Companies Act, 2013

Keeping in view the practical difficulties being faced on account of Covid-19, MCA to facilitate Ease of doing business has granted following reliefs to Companies/LLPs by way of Circulars and Amendments to Rules dated 28.09.2020: 1. Extension of Companies Fresh Start Scheme, 2020 (CFSS): CFSS Scheme which was to end on 30.09.2020 Vide Gen...

Posted Under: Income Tax |

E-Form PAS-6 Can Be Filed Till 31st December, 2020

E-FORM PAS-6 FOR THE HALF-YEAR ENDED ON 30TH SEPTEMBER, 2019 AND 31ST MARCH, 2020 CAN BE FILED TILL 31ST DECEMBER, 2020. [Ref: “Companies Fresh Start Scheme, 2020 (CFSS-2020)” vide Circular No. 12/2020 dated 30th March, 2020 and General Circular No. 30/2020 dated 28th September, 2020]  The Ministry of Corporate Affairs (‘MCA’)...

Posted Under: Income Tax |

Gold Price Chart – Gold Price History for 95 Years

We are observing since month of August, 2020 that price of Gold has increase tremendous. During August 2020 it reach to Rs. 52,000. If we look back, prices of Gold in the year 2000 was Rs. 4,400 while in the year 2010 it was Rs. 18,500 and in 2020 it has reached to Rs .52,000....

Posted Under: Income Tax |

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