Ashutosh Gupta & Gaurav Rana Supreme Court provided a window of two month from the order to the applicants/homebuyers to approach the NCLT after complying the first or second proviso to Sub-Section 1 to Section 7 of the IBC. The Supreme Court on Tuesday in batch matters lead by Manish Kumar Vs UOI WP(C) No. […]
In this article I wish to give some suggestions to the Finance Minister to make the taxation of capital gain more rational by removing some anomalies. Here are my suggestions. Rebate available under Section 87 A for capital gains Section 87 A allows a resident Individual a tax rebate tax upto Rs. 12,500/- if his […]
Empanelment of Chartered Accountant firms as Concurrent Auditor ♥ IDBI Bank invites online applications from practicing partnership firms of Chartered Accountants within India, in the prescribed format, who are willing to have their firms empanelled as Concurrent Auditors of the Bank. ♥ The online system shall be available from 01.2021 to 05.02.2021 (both dates inclusive) […]
The Hon’ble AAR Tamil Nadu in the matter of M/s Thirumalai Chemicals Ltd. [Order No. 41/AAR/2020 dated December 18, 2020] has held that in case of valuation of supply between distinct persons, any of the following three methods can be adopted as per Rule 28 of the CGST Rules, 2017 (“CGST Rules”): Open Market Value […]
Process for conducting of Board Meeting through video conferencing The Companies Fresh Start Scheme. 2020 {CFSS-2020}, operationalized vide General circular no. 12/2020 dated 30.03.2020 and extended vide General Circular Number 30/2020 dated 28.09.2020 is no longer applicable on various filings under Companies Act, 2013. Now, CFSS – 2020 has been extended till 31.03.2021 but the […]
The Hon’ble Bombay High Court in AJE India Private Limited v. Union of India and Ors. [Writ Petition (ST.) No. 97165 of 2020 decided on December 22, 2020] has stayed the order wherein assessee’s bank accounts were provisionally attached for recovering alleged tax dues, and held that, merely because there is a proceeding under Section […]
Central Government has approved the ‘Startup India Seed Fund Scheme (SISFS)’ to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. SISFS shall provide financial assistance to startups via corpus of Rs. 945 Crore that will be disbursed through selected incubators across India in 2021-25.
The Hon’ble High Court concluded that order passed by JCCT Appeals cannot be said erroneous. Also concluded that the position adopted by ADC is not in line with KVAT Laws where the order passed by ADC was based on assumption that the benefit of refund of tax paid on purchase of Inputs can be granted only in respect of manufacture and processing of goods which is not at all prescribed under the law. Accordingly, there is no justification on the part of ADC in invoking revisional power u/s 64 (1) of the KVAT Act.
The Income Tax Department carried out search and survey operations on 19.01.2021 in Jaipur on three groups, involving one jeweller and two real-estate colonizers and developers. Co-ordinated search operation was conducted at 20 premises and survey was conducted at 11 premises.
The Income Tax Department carried out search and survey operations on 12.01.2021 in the cases of leading builders located in Borivali-Mira Road-Bhayander Area of Thane.
