"09 April 2021" Archive - Page 4

ITAT directs CIT(A) to accept Appeal filed Manually

XL Laboratories Pvt. Ltd. Vs DCIT (ITAT Delhi)

XL Laboratories Pvt. Ltd. Vs DCIT (ITAT Delhi) Although, the assessee was required to file the appeal in electronic form w.e.f., 01.03.2016, it is undisputed that at that particular time there were some technical glitches in the e-filing website of the Income Tax Department due to which the CBDT subsequently extended the time limit for [&...

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Minimum default amount for pre-packaged insolvency resolution process

Notification No. S.O. 1543(E). 09/04/2021

Central Government hereby specifies ten lakh rupees as the minimum amount of default for the matters relating to the pre-packaged insolvency resolution process of corporate debtor under Chapter III-A of the Code....

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Insolvency and Bankruptcy (pre-packaged insolvency resolution process) Rules, 2021

Notification No. F. No. 30/20/2020 09/04/2021

These rules may be called the Insolvency and Bankruptcy (pre-packaged insolvency resolution process) Rules, 2021. They shall come into force on the date of their publication in the Official Gazette....

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Why CSR?

WHY CORPORATE SOCIAL RESPONSIBILITY? ‘Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large. ‘ – World Business Council F...

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Posted Under: Income Tax |

Conditions for Setting Up & Conduct of Direct Selling Business in Karnataka

Conditions For The Setting Up And For Conduct of Direct Selling Business In State of Karnataka CONDITIONS FOR THE SETTING UP OF DIRECT SELLING BUSINESS: -Every Direct selling entity carrying out or intending to carry out direct selling business in India shall submit an application to the Department of Consumer Affairs. -Direct selling ent...

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Posted Under: Income Tax |

Tamilnadu Direct Selling/MLM/ Network Marketing Guidelines

Direct Selling / Multi Level Marketing (MLM) / Network Marketing Guidelines For The State of Tamilnadu Every Direct selling entity intending to carry out direct selling business shall within ninety days after publication of the notification in the Gazette of Tamil Nadu comply the conditions for the conduct of direct selling business. Ever...

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Posted Under: Income Tax |

Nidhi Company Incorporation and Requirements

Nidhi Company– A Company Which Has Been Incorporated With The Objective Of Cultivating The Habit Of Thrift And Savings Amoungst Its Members, Receiving Deposits From And Lending To Its Members Only, For Their Mutual Benefit, And Complies With The Rules Of Chapter Xxvi Nidhis Rules, 2014 Made By The Central Government. In General Term...

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Posted Under: Income Tax |

Summary Assessment without Presence or Calling of an Assessee

When an Assessing Officer complete assessment on the basis of return and other documents submitted by an assessee. In this process an Assessing Officer can complete assessment without passing a Regular Assessment Order. The presence of an assessee or his/her Authorised Representatives are not required....

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Posted Under: Income Tax |

Conversion of Capital Asset into Stock in Trade – Analysis of Section 45(2)

Generally, a person invested his/her surplus assets into various types of assets to get capital appreciation and better results. The investment in capital assets will be held to get better results by selling those assets after holding short or long period of time. The treatment of income on sale of asset will depends on the […]...

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Posted Under: Income Tax |

Paytm Money cannot charge fees from AMC whose direct plan they are selling

Guideline No. SEBI/H0/1MD/DF1/0W/P/2021/000008743/1 09/04/2021

Currently Paytm Money Limited (PML) does not charge advisory or execution fees, and intends to avail of reimbursement of the service related out-of-pocket expenses such as KYC, PG, technology hosting. platform maintenance etc. form Asset Management Companies (AMC) whose direct plans they are selling, as PML is bearing the cost that the AM...

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