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Archive: 24 November 2020

Posts in 24 November 2020

Benefits of Startup Registration

November 24, 2020 6726 Views 0 comment Print

All you need to know about benefits of Startup Registration A startup is a new business setup that is small in nature and initiated by a single or a group of individuals. It makes the startup different from other businesses. A startup presents a new product or service that is not available at some other […]

DGGI Rohtak arrests one more in Hisar for issuing fake invoices of ITC

November 24, 2020 861 Views 0 comment Print

In pursuance of ongoing investigation of fraudulent passing of Input Tax Credit (ITC)wherein one person namely Sh. Satender Kumar Singla of Hisar was arrested on 12.11.2020,the Directorate General of GST Intelligence (DGGI), Regional Unit, Rohtak falling under Gurugram Zonal Unit has arrested one more person namely, Sh. Vikas Jain, of Jind on 23.11.2020.

ICAI reschedule CA exam for few cities due to Nivar cyclone

November 24, 2020 780 Views 0 comment Print

The rescheduled Intermediate & IPC Examination shall be held on 9th December, 2020 and the Final (Old & New) Examination shall be held on 11th December, 2020 for the above-stated centres only at the same time.

Momentum of reforms continues during pandemic & will continue: FM

November 24, 2020 303 Views 0 comment Print

In the present pandemic times when the headwinds to growth have exacerbated, the reforms momentum has continued, and will continue in the future as well, said Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman while addressing the National MNCs Conference 2020 organised by the Confederation of Indian Industry (CII) here today.

How NBFCs Can Venture into Insurance Business

November 24, 2020 6834 Views 0 comment Print

Non-Banking Financial Companies (NBFCs) have been trying to enter the markets of insurance business for a long time. In 2000, the Central Bank of Indian Government, i.e. RBI gave a green light to them and the NBFCs since then are operating in the Insurance sector.

Process of Conversion from LLP to Company under Companies Act, 2013

November 24, 2020 3480 Views 0 comment Print

Many start up entity in India commenced their business as a Limited Liability Partnership (LLP) and they might be interested to switch the mode of their entity from LLP into Private Limited Company to diversify the business or for infusing more funds and for many several reasons. The Companies Act, 2013, has given the provision […]

Assessment u/s 153C cannot be made in absence of incriminating documents discovered during search

November 24, 2020 1710 Views 0 comment Print

PCIT Vs S.R.Trust (Madras High Court) Conclusion: In the absence of any incriminating documents or evidence discovered during the course of search under Section 132 in the case of searched person against the assessee, the jurisdiction under the provisions of Section 153C could not be assumed. Held:  Assessee was a charitable trust registered under Section […]

Trademark Registration Compulsory For E-Commerce Companies

November 24, 2020 4734 Views 0 comment Print

A unique symbol or word(s) used to signify a business or its products is known as Trademark. Once registered, that same symbol or series of words cannot be used by any other organization, continually, as long as it remains in use and proper paperwork and fees are paid. Consider of the apple shape with the […]

Income Tax Search and Seizure Assessments- No universal application of “extrapolation technique” in Search Assessments

November 24, 2020 7584 Views 0 comment Print

During the course of a Search and Seizure action, it is seen in practice that incriminating material in the form of documents, diaries and other evidences are found which sometime reflects undisclosed income of an assessee only for a particular limited period of time and not for all the assessment years to be covered u/s 153A of the Income Tax Act’1961.

Provisional attachment order valid if Assessee not filed objection against Notice

November 24, 2020 1173 Views 0 comment Print

R. J. Exim And Another Vs Principal Commissioner Central Goods And Service Tax (Allahabad High Court) From the perusal of Section 74(5) of the Act, it is evident that a person chargeable with tax may, before service of notice under sub-section (1), pay the amount of tax and interest under Section 50 and penalty @ […]

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