"29 April 2021" Archive

Download Admit card for CSEET being held on 8th May 2021

The Institute of Company Secretaries of India Admit card for CSEET being held on 8th May 2021 ATTENTION CANDIDATES ! Dear Candidate, This has the reference of your registration for appearing in the Company Secretary Executive Entrance Test (CSEET) which is scheduled to be held on Saturday, 8th May, 2021. You are requested to download [&he...

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Posted Under: CA, CS, CMA |

SEBI Circular mandating AMCs to pay 20% of CTC of Key Employees in Units

Alignment of interest of Key Employees of Asset Management Companies (AMCs) with the Unitholders of the Mutual Fund Schemes The Securities and Exchange Board of India (SEBI), the regulator of securities market vide it’s circular SEBI/HO/IMD/IMD-I/DOF5/P/CIR/2021/553 dated 28th April, 2021 naming Alignment of interest of Key Employees of...

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Posted Under: CA, CS, CMA |

Form PAS-3 – Private Placement of Securities

APPLICABLE SECTIONS AND RULES In order to understand the concept of Private Placement better we have to look into applicable Sections and Rules which governs the said concept. ♦ Applicable Section: Section 42 of the Companies Act, 2013 ♦ Applicable Rule: Rule 14 of the Companies (Prospectus and Allotment of Securities) Rules, 2014 PRI...

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Posted Under: CA, CS, CMA |

Taxability on distribution of assets by a partnership firm to partners

Comprehensive analysis of taxability on distribution of assets by a partnership firm to its partners on its dissolution or reconstitution Finance Act, 2021 made some significant amendments with respect to taxability of distribution of capital assets, stock-in-trade or money by a partnership firm to its partners on its dissolution or recon...

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Posted Under: CA, CS, CMA |

Guidelines for Appointment of Statutory Auditors of NBFCs (including HFCs)

This article is in respect to ‘Guidelines for Appointment of Statutory Central Auditors (SCAs)/Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including HFCs)’ issued by RBI vide DoS.CO.ARG/SEC.01/08.91.001/2021-22 dated 27/04/2021 The guidelines are issued for appointment/reappointment Statutory...

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Posted Under: CA, CS, CMA |

No penalty u/s 271B of the Act when no books of accounts were maintained

Notice u/s 274 read with section 271B of the Income Tax Act, 1961. Penalty not to be imposed when assessee not maintained books of accounts The assessment of the assessee u/s 147/143(3) has been framed on the basis of non maintenance of proper books of accounts and income has been assessed u/s 44AF of the […]...

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Posted Under: CA, CS, CMA |

Rajiv Magoo appointed as member of Maharashtra GST Advance Ruling Committee

Notification No. GST-1021 / C.R. 43 / Taxation-1 29/04/2021

Shri. Rajiv Magoo, Joint Commissioner of Central Tax has been appointed as member of Maharashtra GST Advance Ruling Committee in the place of Ms. P. Vinitha Sekhar. FINANCE DEPARTMENT Madam Cama Marg, Hutatma Rajguru Chowk, Mantralaya, Mumbai 400 032, Dated the 29th April 2021. NOTIFICATION MAHARASHTRA GOODS AND SERVICES TAX ACT, 2017. No...

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HC directs Center to ensure adequate security for lorries transporting oxygen

Rakesh Malhotra Vs Government of National Capital Territory of India and Ors (Delhi High Court)

Rakesh Malhotra Vs Government of National Capital Territory of India and Ors (Delhi High Court) 1. Last night, we had passed the order in W.P .(C) No. 4970/2021 on the assurance given by the learned Solicitor General, that Delhi would be provided with Medical Oxygen as per its allocation made on 21.04.2021 —with effect from […]...

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Request to stop inventory control by foreign e-commerce companies

Urgent Need to bring a New Press Note to clarify the FDI Policy to stop inventory control by foreign e-commerce companies and also to take strong action against foreign e-commerce companies for using unfair means to gain market share at the cost of small merchants in the lockdown due to covid-19 pandemic....

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Posted Under: CA, CS, CMA |

Request for Extension of Lockdown in Delhi till 15th May, 2021

Ref No.: 3205/1/50 29/04/2021

It has been unanimously resolved to request you for extension of lock down in Delhi beyond 3rd May and the. same be extended upto 15th May,2021. The present situation in Delhi caused by covid pandemic is highly chaotic, horrible and grim and therefore calling for more strict measures. along with lock down in order to break the chain of co...

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Posted Under: CA, CS, CMA |

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