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Archive: 13 January 2021

Posts in 13 January 2021

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 6999 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Jurisdiction of NCLT over a particular case cannot be determined by Registrar

January 13, 2021 3387 Views 0 comment Print

Skillstech Services Private Limited Vs Registrar, National Company Law Tribunal (Delhi High Court) The case of the Petitioner is that the Registrar of the NCLT has failed to even list the Petitioner’s matter before the appropriate bench of NCLT, on the ground that the threshold of the pecuniary jurisdiction of the NCLT has now been […]

Companies who not followed Process for AGM date extension may face legal action: MCA

January 13, 2021 23730 Views 1 comment Print

Circular shall not be construed as conferring any extension of time for holding of AGMs by the companies under the Companies Act, 2013, and the companies which have not adhered to the relevant timelines shall remain subject to legal action under the Companies Act, 2013.

Spending on CSR for COVID-19 Vaccination public outreach is valid CSR activity

January 13, 2021 2877 Views 0 comment Print

Spending of CSR funds for carrying out awareness campaigns/programmes or public outreach campaigns on COVID-19 Vaccination programme is an eligible CSR activity

SEBI (Central Database of Market Participants) Regulations, 2003 repealed

January 13, 2021 708 Views 0 comment Print

SEBI hereby repeals with immediate effect the Securities and Exchange Board of India (Central Database of Market Participants) Regulations, 2003

Rule 8D is not retrospective & applicable from AY 2008-09 onwards

January 13, 2021 1248 Views 0 comment Print

Hero Motocorp Ltd. Vs ACIT (ITAT Delhi) In the present year, the Assessing Officer has made disallowance under section 14A by invoking provisions of Rule 8D of the Income Tax Rules, 1962. Since Rule 8D is not retrospective, the same is not applicable in the present assessment year and accordingly, we hold that the assessing […]

ITAT allows Section 11 Exemption on Interest Income of Charitable Trust

January 13, 2021 6534 Views 0 comment Print

Jhansi Development Authority Commissionery Compus Vs DCIT (ITAT Agra) As the assessee had derived all its income only on account of charitable activities undertaken by it pursuant to its object and for the welfare the general public, which were not in the nature of trade , commerce or business. The income even if any earned […]

Tax Payable on ESOP to Dubai Based taxpayer for services rendered in India

January 13, 2021 3579 Views 2 comments Print

In case the assessee is to get ESOP benefits in respect of his service in U.A.E. and he exercises these options at a later point of time, say after returning to India and ceasing to be a non-resident, he will still have the treaty protection of that income under article 15(1). This principle, however, is not a one-way route. Conversely, when the assessee gets the ESOP benefit on account of rendering services in India, he cannot have the benefit of article 15 in respect of the said income.

View Tax Credit Statement (Form 26AS)- Easy Guide

January 13, 2021 3531 Views 0 comment Print

The Form 26AS displays the various taxes deducted/paid on individual’s income from/through various sources. It includes details of, ♦ Tax Deducted at Source (TDS) ♦ Tax Collected at Source (TCS) ♦ Advance Tax/ Self-Assessment Tax paid ♦ Regular Tax ♦ Tax Refund details for an Assessment Year, etc. Perform the following steps to view or […]

All India Protest Call against GST/Income Tax Issues by WMTPA

January 13, 2021 96210 Views 85 comments Print

Government is neither listening to representations submitted by various associations, nor listening to court direction in true spirit. In Covid 19 pandemic, all professionals and Trade, ignoring life and death risk, ensured that, India will stand again, paid taxes in lakh crores but it seems government doesn’t recognize us.

Section 8 Company-Exemptions & Applicability of provisions

January 13, 2021 23301 Views 0 comment Print

Compendium of Exemptions and Applicability of provisions under Companies Act, 2013 with modifications Ministry of Corporate Affairs (‘MCA’) vide notification dated 5th June, 2015, exempted Section 8 Companies from complying with certain provisions of the Companies Act, 2013 (‘Act, 2013’ or ‘Act’ or CA 2013) as mentioned hereunder subject to the condition that the Company […]

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