"24 March 2021" Archive - Page 2

SC waives compound interest on loans under moratorium due to COVID

Small Scale Industrial Manufactures Association (Regd.) Vs Union of India and others (Supreme Court of India)

Small Scale Industrial Manufactures Association (Regd.) Vs Union of India and others (Supreme Court) As the charging of penal interest/interest on interest/compound interest during the moratorium period is concerned, it stands absolutely on a different footing. At this stage, it is required to be noted that in fact the Central Government ...

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Recovery of Unclaimed Investment of TCS from IEPF Can Make You Rich!

Tata Consultancy Service Ltd. (TCS) is an IT sector market leader in India and is one of the largest IT MNCs in the world. The company specialises in IT outsourcing and consultancy services and has a repute for giving the best solutions to any client. It has handled many projects from the government and private […]...

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Posted Under: Finance |

Amendment to Schedule III of Companies Act 2013 wef 01.04.2021

G.S.R. 207(E) 24/03/2021

Central Government hereby makes the following further amendments in Schedule III to the Companies Act 2013 with effect from 1st day of April, 2021 ...

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MVAT on Liquor specified in Schedule B increased to 65 percent

Notification No. VAT-1521/C.R. 30/Taxation-1. 24/03/2021

Amendment in Schedule ‘B’ of the Maharashtra Value Added Tax (MVAT) Act, 2002.(Tax rate of liquor)- Value Added Tax (VAT) on the sale of liquor as prescribed in Schedule-B of Value Added Tax Act is increased from the existing 60 percent to 65 percent vide Notification No. VAT-1521/C.R. 30/Taxation-1 dated 24th March 2021. FINA...

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Section 41(5)- MVAT on Sale of liquor increased to 40 percent

Notification No. VAT-1521/C.R. 30 (A)/Taxation-1 24/03/2021

Value Added Tax (VAT) on the sale of liquor as prescribed in Section 41(5) of Value Added Tax Act is increased from the existing 35 percent to 40 percent vide MVAT notification No. No. VAT-1521 / C.R. 30 (A) / Taxation-1 dated 24th March 2021....

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ICAI Notifies Dates for CA Intermediate & Final Exams 2021

The Institute of Chartered Accountants of India (ICAI) announced the dates for CA Intermediate and Final Exams. Firstly, the Intermediate (IPC) Course Examination beneath Old Scheme, Group-I exams will be held on 22nd, 24th, 27th & 29th May 2021, and Group-II exams will be held on 31st May 2021, 2nd & 4th June 2021. Secondly, [&he...

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Posted Under: Finance |

FLA Return Filing Under FEMA 1999

Overview:- In this article we shall discuss about FLA Return & Process of Filing it. FLA Return is a mandatory filling under FEMA 1999. Non-filing of the return before due date will be treated as a violation of FEMA and penalty clause may be invoked for violation of FEMA. We have come up with this […]...

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Posted Under: Finance |

Career Opportunities after Class 12th Commerce

After clearing your tenth, you have to ask yourself the questions that lie ahead to select a specific stream. The tilt towards science will result in choosing it. The selection of the other two, i.e., arts or commerce, comes suspended by the options students have after selecting a specific option. If you are looking forward […]...

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Posted Under: Finance |

Private Limited Company Incorporation Process via SPICe+ & FAQs

Process of Incorporation of Private Limited Company through SPICe+ and frequently asked questions (FAQ) on SPICe+ As part of Government of India’s Ease of Doing Business (EODB) initiatives, the Ministry of Corporate Affairs introduced a web based incorporation service called as SPICe+. SPICe+ is one stop solution for services offered by...

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Posted Under: Finance |

No section 37 addition for expenses not claimed by Assessee

USG Buildwell Pvt. Ltd. Vs Additional CIT (ITAT Delhi)

USG Buildwell Pvt. Ltd. Vs Additional CIT (ITAT Delhi) The Ld. DR submitted that the disallowance u/s 37 on account of additional payment for purchase of land was righty made as the assessee could not establish his case as the expenditure was incurred without any substantial evidence produced before the Assessing Officer to that effect [&...

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