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Archive: 27 January 2021

Posts in 27 January 2021

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

May 15, 2024 7020 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.

Recent Service Tax Show Cause Notices – Validity Thereof

January 27, 2021 262131 Views 54 comments Print

The Service tax authorities have recently issued a spate of SCNs for the FY 2015-16 to June 2017. Most of these notices are worded same and seems to be a template issued by someone from the ministry. The said SCN are purportedly issued under section 73(1) of the Finance Act 1994 alleging “wilful attempt to […]

Educational Material on Ind AS 23, Borrowing Costs

January 27, 2021 1134 Views 0 comment Print

Ind AS 23 prescribes the accounting treatment for recognising the borrowing costs incurred by entities. It sets out the criteria for capitalising the borrowing costs or for charging the borrowing costs as expense to the statement of profit and loss.

Banks may use ratings of ‘CRISIL’ for risk weighting their claims for capital adequacy purposes

January 27, 2021 447 Views 0 comment Print

Banks may therefore, use the ratings of the CRISIL Ratings Limited for the purpose of risk weighting their claims for capital adequacy purposes. The rating-risk weight mapping for the long term and short-term ratings assigned by CRISIL Ratings Limited will be the same as was in the case of CRISIL Limited and there is no change in the rating symbols earlier assigned by CRISIL Limited.

Companies (CSR Policy) Amendment Rules, 2021

January 27, 2021 15702 Views 0 comment Print

After CSR, rules 2014 now MCA has announced new CSR rules which shall be known as Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021. FEW IMPORTANT POINTS IN THESE RULES ARE AS UNDER: Rule 2: Definitions ♦ Corporate Social Responsibility (CSR) definition has been revised and instead of activities mentioned in Schedule VII the activities […]

Recent Changes in Corporate Social Responsibility provisions

January 27, 2021 11451 Views 2 comments Print

The Ministry of Corporate Affairs (MCA) notified 22 January, 2021 to enforce Section 21 of Companies (Amendment) Act, 2019 and Section 27 of Companies (Amendment) Act, 2020, related to Corporate Social Responsibility (CSR). “In exercise of the powers conferred by sub-section (3) of section 1 of the Companies (Amendment) Act, 2019 (22 of 2019) and sub-section […]

What does the finance job market look like in 2021

January 27, 2021 2007 Views 0 comment Print

Global Pandemic: The world is still reeling through the Covid 19 pandemic and the shadow of this will have a considerable impact in 2021 and predicted to have a lasting adverse effect for times to come. The world has to live with this and as they say it is the new normal. Indian Economy As […]

NRI/OCI: FEMA Provisions to Know

January 27, 2021 42183 Views 10 comments Print

The political world is often confounded with the problems (both real and imagined) associated with immigration and unwanted immigrants. Thankfully, Indians are often the acceptable immigrants around the world. Non-Resident Indians (NRI) /Overseas Citizens of India (OCI) are increasing year upon year. As per a recent UN data, out of 272 million global migrants internationally, […]

Section 35DDA Amortization of expenditure incurred under voluntary retirement scheme

January 27, 2021 13473 Views 0 comment Print

Discover how section 35DDA of the Income Tax Act allows for deduction of expenditure under voluntary retirement schemes. Learn about the conditions and amount available for deduction.

SEBI Consultation Paper on appointment / reappointment of WTD / MD by Listed Entities who fails to get elected at general meeting

January 27, 2021 1312 Views 0 comment Print

Securities and Exchange Board of India Consultation Paper on introduction of provisions relating to appointment / re‑appointment of persons who fail to get elected as Whole-time directors / Managing Directors at the general meeting of a listed entity Jan 27, 2021 | Reports : Reports for Public Comments 1. Objective To solicit public comments / […]

OPC Annual Filing & AGM Provisions (including 2020 extension clarification)

January 27, 2021 37650 Views 8 comments Print

One Person Company: Sec 2(62) ‘One Person Company’ means a company which has only one person as a member. For OPC: Return Filing Provisions & AGM ♥ Section 137 of the Companies Act, 2013 One Person Company shall file a copy of the financial statements duly adopted by its member, along with all the documents […]

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