1. Extension of time gap between two consecutive Board Meetings. General Circular No. 08/2021 Dated 03-05-2021 The requirement of holding meeting of the Board of the companies within the intervals provided in the section 173 of the Companies Act, 2013 (120 days) have been extended to 180 days for first two quarters of the FY […]
After 3 years of introducing the concept of ‘Significant Economic Presence’ (SEP) in the domestic tax laws, the Indian tax authorities have notified the thresholds for applicability of the SEP provisions. As per the notification 41/2021 dated 03 May 2021, the payment threshold in respect of any goods, services or property carried out by a […]
The news of Lockdown has started floating again. Many states have imposed partial lockdown, night curfew in the initial stage. The second wave may impact not only the lifestyle but also our business portfolios. So, it is right to get prepared for what is about to come again and do reduce the effect with proper care. The […]
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News ♦ Government extends time for payment under VSV (Vivad Se Vishwas Scheme) to 30.06.2021 including timelines for assessment (Notification No. 39/2021-Income Tax/S.O. 1704(E)& Notification No. 38/2021-Income Tax/S.O. 1703(E) dated 27/04/2021) ♦ CBDT vide Notification No. 37/2021-Income Tax Dated: 26th April, 2021 amends rule 2DB which deals with […]
When deduction u/s 80IA(4) had been granted in first year of claim the same could not be denied in subsequent years, unless assessee had changed the original terms and conditions in the first year while fulfilling for the granting deduction in the first year of operation.
Gap between two consecutive Board Meetings may extend to 180 days for Quarter – April to June 2021 and Quarter – July to September 2021, instead of 120 days In view of the difficulties arising due to resurgence of COVID-19 pandemic and request received from stakeholders, the Ministry of Corporate Affairs (“MCA”) vide its General […]
Union of India Vs Rakesh Malhotra & Anr. (Supreme Court) The rationale for constituting a Task Force at a national level is to facilitate a public health response to the pandemic based on scientific and specialised domain We expect that the leading experts in the country shall associate with the work of the Task Force […]
Gurcharan Singh Vs Ministry of Finance (Delhi High Court) 1. It is pleaded to extend the exemption, to even individuals, to enable them to obtain imported oxygen concentrators by way of a gift, albeit, without having to pay IGST. 2. That tax is an exaction by the State is well known. That its levy and […]
Understand the process of payment of stamp duty on share certificates in Haryana. Learn about the time period and steps involved in this important legal requirement.
Understanding the significance of Section 136 of the Income Tax Act 1961: An important section that deems Income-tax proceedings as judicial proceedings.
