"21 May 2021" Archive - Page 2

Enhancement of overall limit for overseas investment by AIFs/VCFs

Circular No. SEBI/HO/IMD/DF6/CIR/P/2021/565 21/05/2021

In consultation with the Reserve Bank of India, the said limit has now been enhanced to USD 1,500 million. Further, all other regulations governing such overseas investment by eligible AIFs/VCFs shall remain unchanged....

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File fresh representation before GST authorities to rectify mistakes in GSTR-1: HC

Neeta Sales Corp Vs State Of U.P. And 2 Others (Allahabad High Court)

Neeta Sales Corp Vs State Of U.P. And 2 Others (Allahabad High Court) 1. The Allahabad High Court directed the petitioner to file a fresh representation before GST Authorities to rectify mistakes in GSTR-1. 2. The division bench of Justice Sunita Agarwal and Justice Sadhna Rani said that without entering into the merits of the […]...

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Extension of Time Limit for Income Tax Compliance wef 20.05.2021

The CBDT vide circular No. 08/2021, dated 30-04-2021 has extended the due dates relating to various compliance under Income Tax Act, 1961. In order to provide further relief to taxpayers in view of severe pandemic, the CBDT vide circular No. 09/2021, dated 20-05-2021 has further extended the time limits of certain compliances. Extension ...

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Posted Under: SEBI |

Latest Cases On – Principles Of Natural Justice – Faceless Assessment

The essential principles of natural justice are the following:  Justice should not only be done but seen to be done. One cannot be a judge in his own cause. No party should be condemned unheard. u Impartial hearing must be extended to the person against whom a charge is framed to state his case.  Final […]...

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Posted Under: SEBI |

आयकर से सम्बंधित बढाई गई मुख्य तिथिया

सरकार द्वारा कोरोना महामारी को देखते हुए आयकर से सम्बंधित विभिन्न तिथियों को बढ़ा दिया है जिससे करदाताओ को राहत मिलेगी आयकर से सम...

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Posted Under: SEBI |

Public Provident Fund: Features and Benefits of investing in PPF

Public Provident Fund is the schemes started by the central government from 1968 for the welfare of the people of India. As this scheme was launched for the benefit of people who made investment by very small amount and they will get more amount at the maturity. Since this scheme was backed by Central government, […]...

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Posted Under: SEBI |

Whether Society maintenance charges are allowable from Annual Value of Property under Section 23 :- Yes- Yes/No – No

Allowability of society maintenance charges from rental income - Section 22 : deals  the Annual value of property  and  Section 23  determine the  ‘Annual value’, whereas the  Allowable deductions from 'Income from House property' is in section 25 and  Section 25 the amounts not deductable from 'Income from House property'....

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Posted Under: SEBI |

Interest to be demanded only on Net Tax liability in Form DRC-07 instead of DRC-01

The Hon’ble Gujarat High Court in M/S. Rajkamal Builder Infrastructure Private Limited v. Union of India [R/Special Civil Application No. 21534 of 2019, dated March 23, 2021] quashed and set aside the order issued by the Revenue Department in Form GST DRC-01 for recovery of interest on delayed payment of tax on gross liability and [&hel...

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Posted Under: SEBI |

Indian Road-map for Blank Cheque or Special Purpose Acquisition Company

What’s a Blank Check Company? or SPAC ( Special Purpose Acquisition Company)? About Blank-cheque Company: A SPAC, or a blank-cheque company, is an entity specifically set up with the objective of acquiring a firm in a particular sector. The aim of this SPAC is to raise money in an Initial Public Offering (IPO), and at […]...

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Posted Under: SEBI |

Meeting of Board of Directors of a Company

Board of Directors are the most essential Personnel of a company who are entrusted with the fiduciary duty to carry on objectives of the company in the manner profitable to its stakeholders. The Companies Act allows the Board to exercise all such powers, and to do all such acts and things, as the company is […]...

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Posted Under: SEBI |

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