Instruction No. 18/2020-Customs F. No. 715/03/2020- Cus(AS) Government of India Ministry of Finance Department of Revenue (Central Board of Indirect Taxes & Customs) ***** 5th Floor, nude° Vishala Building, Bhikaji Cama Place, New Delhi, the 06th Oct, 2020 To, All Principal Chief/Chief Commissioners of Customs/Customs (Preventive), All Principal Chief/Chief Commissioners of Customs and Central […]
Before discussing the above subject matter, let us first understand what PMLA is and what is IBC As per Insolvency and Bankruptcy code 2016, if any person who has taken any loan and committed default, then the application can be filed in front of the Hon!ble National Company Law Tribunal As per section 3(23) the […]
Ministry of Corporate Affairs (MCA) vide its notification dated 10th September, 2018, inserted Rule 9A of Companies (Prospectus and Allotment of Securities), Rules, 2014, for Issue of securities in dematerialised form by unlisted public companies which is effective from 02nd October, 2018. As we all are aware that the filing of PAS-6 form is nearby […]
Replacing Foreign Exchange Regulation Act, 1974 (FERA) with Foreign Exchange Management Act, 1999 (FEMA) was a welcome move giving abundant opportunity and confidence to Indian Business, to go global fearlessly, by liberalizing the laws and taking out the draconian portion of law with relaxing provisions. It took more than 50 years to realize and implement […]
Evaluation methodology to know Risk level of Mutual Fund (MF) Scheme Pursuant to SEBI Guideline for Product Labeling in Mutual Fund Schemes – Risk-o-meter dated 05th October, 2020 Market Data suggests that investor returns are, in most cases, lower than investment returns. Mutual fund advisors say that this is because investors make some common mistakes […]
Fixed assets, in an organization represent the long-term tangible assets which are used, -to produce and deliver its products or services, and -to manage its operations. They are assets held for the purpose of providing or producing goods or services and are not meant for sale in the normal course of business. Therefore, an asset […]
IBC Has Been Suspended For Defaults Occurring After 25/03/2020: Alternative Forums Where Creditors Can Approach For Recovery The Insolvency and Bankruptcy Code of 2015 (IB Code) was enacted and brought into force to safeguard the interest of all the stakeholders in the process of providing credit/debt to various establishments. However, the interest of the creditors […]
Girraj Prasad Gilara HUF Vs ITO (ITAT Jaipur) The revenue has not disputed that the assessee has raised the objections vide letter dated 19th July, 2016 against the notice issued under section 148 of the IT Act. Assessee has raised the objections against the reopening of the assessment on the ground that there is no […]
Shin-Etsu Polymers India P. Ltd. Vs DCIT (ITAT Chennai) We have observed that the authorities below have commented while disallowing these foreign exchange losses on conversion of outstanding balance in foreign currency into Indian rupee on the date of Balance Sheet as at year end to be on account of outstanding unsecured loans which were […]
In Past 3 Years, the residential projects have been delayed too much in all cities and specially Gurugram. One Builder of Gurugram is ILD which has recently been directed by the Department of Town & Country Planning (DTCP) to prepare and submit an action plan within a week for their completion. If the ILD fails […]
