"22 March 2021" Archive - Page 5

Measures to prevent repeat of Trading halt at NSE

Press Releases No. 13/2021 22/03/2021

With regard to the Trading halt at NSE on February 24, 2021, NSE presented its detailed Root Cause Analysis (RCA) before SEBI Technical Advisory Committee (TAC) on March 22, 2021....

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Income Tax Department conducts searches in Jharkhand

The Income Tax Department carried out searches on a closely-held Group of Jharkhand on 17.03.2021 and concluded the same on 20.03.2021. The Group is engaged in manufacturing and trading of Sponge Iron, MS Ingots, MS Rods, and TMT bars and has dealerships of petrol pumps. Search and survey was carried out at more than 20 premises....

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Posted Under: SEBI |

Rajya Sabha passes Medical Termination of Pregnancy (Amendment) Bill, 2021

The Rajya Sabha has approved the Medical Termination of Pregnancy (Amendment) Bill, 2021 to amend the Medical Termination of Pregnancy Act, 1971 on 16th March 2021. The Bill was approved in Lok Sabha on 17th March 2020. Salient features of amendments: Enhancing the upper gestation limit from 20 to 24 weeks for special categories of [&hell...

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Posted Under: SEBI |

Format of Board Resolution for Taking note of Resignation Letter of Director

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED IN THE MEETING OF THE BOARD OF DIRECTORS OF ————————————–PRIVATE LIMITED HELD ON TUESDAY, MARCH 16, 2021 AT 12.00 PM AT THE REGISTERED OFFICE OF THE COMPANY AT ————————&...

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Posted Under: SEBI |

Share trading loss cannot be disallowed without reasonable basis

DCIT Vs UBS Securities India Private Limited (ITAT Mumbai)

Loss incurred on account of error trades in respect of dealings of clients and not on own account and the loss incurred in course of carrying on share broking business was in line with accepted market practices, therefore, disallowance of Rs. 35,82,623/- on account of loss on share trading and ad-hoc disallowance of Rs.5,00,000/-, not sup...

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Analysis of Amendments in Schedule V- Part II- Remuneration

Amendments analysis in Schedule V of Companies Act,2013 vide MCA Notification dated 18 March, 2021 Summary/ Gist of Amendments Amendments in Section I, II and III of Schedule V- Part II- Remuneration Insertion of Remuneration provisions and Maximum Limit of Remuneration related to Non- Executive or an Independent director  relevant Notif...

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Posted Under: SEBI |

Stamp duty on Issue and Transfer of Shares and Debentures

The amended provisions of the Indian Stamp Act, 1899 and The Indian Stamp (Collection of Stamp Duty through Stock Exchanges, Clearing Corporations and Depositories) Rule, 2019 brought through Finance Act, 2019 came into force w.e.f 1st July, 2020. Thrоugh the sаid аmendments, the Сentrаl Gоvernment hаs сreаted the legаl аnd ins...

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Posted Under: SEBI |

Tax Saving- An art of Investing

When the end of financial year is round the corner and the deadline of March 31 is hovering over the mind of individual taxpayers so that they can invest the minimum amount required to reduce their income tax liability by max possible amount....

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Posted Under: SEBI |

Why Quorum is Required in Board Meeting

Now first question which must to your mind that why there is requirement of quorum at all Purpose of Quorum in board meeting is to prevent mala fide intention of one director or two directors suppose there had not been requirement of quorum then even one director or two directors could have held board meeting […]...

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Posted Under: SEBI |

Detailed Commentary On Belated Return Under Income Tax Law

Belated return (Return under section 139(4)) simply means filing of income tax return after due date or extended due date. Belated return can also be called as late return or delayed return. You must be aware that under the Income-tax Act, 1961, there is section 139 which casts responsibility on persons to file income tax […]...

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Posted Under: SEBI |

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