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Archive: 08 October 2020

Posts in 08 October 2020

AO cannot Pass Order in Hasty Manner without considering the material produced by an assessee,

October 8, 2020 2133 Views 0 comment Print

The issue under consideration is whether the petitioner firm had correctly accounted for the deposits made in its account during demonetization?

Guidelines on Inter Scheme Transfers of Securities

October 8, 2020 933 Views 0 comment Print

Presently, transfers of securities from one scheme to another scheme in the same mutual fund is allowed only if such transfers are done at the prevailing market price for quoted instruments on spot basis and the securities so transferred are in conformity with the investment objective of the scheme to which such transfer has been made.

SEBI allows conducting of EGMs of unit holders of InvITs & REITs via VC/OAVM

October 8, 2020 342 Views 0 comment Print

SEBI: Extension of facility for conducting extraordinary meeting(s) (EGMs) of unit holders of InvITs and REITs through Video Conferencing or Other Audio-Visual Means (VC/OAVM) Securities and Exchange Board of India CIRCULAR SEBI/HO/DDHS/DDHS/CIR/P/2020/201 Dated: October 08, 2020 All Infrastructure Investment Trusts (InvITs) All Real Estate Investment Trusts (“REITs”) All Parties to InvITs and REITs All Recognized […]

SEBI (IFSC) Guidelines, 2015 Amendments- Analysis

October 8, 2020 1581 Views 0 comment Print

SEBI UPDATES SEBI (IFSC) Guidelines, 2015 Amendments 1. Relevant Circular & Date :  SEBI/HO/MRD2/DCAP/CIR/P/2020/149 Dated 07th August 2020 2. Link to the SEBI (IFSC) Guidelines, 2015: https://taxguru.in/sebi/sebi-international-financial-services-centres-guidelines-2015.html 3. Object  of the Circular: To streamline the operations at IFSC. What is new under this Circular? 1 Eligibility criteria and shareholding limit for Clearing Corporation 1. Any […]

FCRA Amendment Act, 2020 – A Nightmare for NGOs?

October 8, 2020 13443 Views 3 comments Print

It is quite astonishing that FCRA, 2020 has been made effective amidst COVID-19 situation when so many NGOs are putting hands together to serve the needy, arising awareness to fight COVID-19 and support various weaker section of society to the best extent possible.

NAA drops penalty proceedings against Signature Builders

October 8, 2020 468 Views 0 comment Print

It is also revealed that vide Section 112 of the Finance Act, 2019 specific penalty provisions have been added for violation of the provisions of Section 171(1) of the CGST Act, 2017 which have come in to force w.e.f. 01.01.2020 vide Notification No. 01/2020 Central Tax dated 01.01.2020, by inserting Section 171 (3A) in the CGST Act, 2017.

5 Benefits of Filing Income Tax Return

October 8, 2020 3915 Views 5 comments Print

Discover the 5 benefits of filing income tax return: residential proof, bank finance, penalty avoidance, and refund eligibility.

Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2020

October 8, 2020 927 Views 0 comment Print

1. These regulations maybe called the Securities Contracts (Regulation) (Stock Exchanges and Clearing Corporations) (Amendment) Regulations, 2020. 2. They shall come into force on the date of their publication in the Official Gazette.

No ITC on medicines used in supply of health care services to inpatients

October 8, 2020 9060 Views 0 comment Print

In re Ambara (GST AAR Karnataka) Q1. Whether input tax credit is required to be restricted on medicines supplied to patients admitted in hospital? A1. The input tax credit is required to be restricted on medicines used in the supply of health care services provided to inpatients. Q2. Whether input tax credit is required to […]

GST on Liaison office in India of Foreign Company

October 8, 2020 7641 Views 0 comment Print

Whether the Activities of a liaison office amount to supply of services, Whether a liaison office is required to be registered under CGST Act, 2017 and Whether liaison office is liable to pay GST?

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