Segregation of client collateral refers to the procedures that enable identification and protection of client collateral from- (i) misappropriation/ misuse by Trading Member (TM)/ Clearing Member (CM) and (ii) default of TM/CM and/or other In the past, there have been instances of misuse of client collateral by TM/CM.
In the present FIR, the police have seized the 12 Oxygen Concentrators. No useful purpose would be solved to retain the Oxygen Concentrators in the police Malkhana and the same should be circulated back for the use of needy patients.
GOCL Corporation Ltd. Vs DCIT (ITAT Hyderabad) Learned counsel’s first and foremost argument is that a corporate guarantee is a shareholder’s activity which has been wrongly treated as an international transaction u/s.92B read with Explanation inserted by the Finance Act, 2012 with retrospective effect from 01-04-2002. He next sought to draw a distinction between the […]
Can Investment Adviser (IA) continue to collect performance-based fee whenever the same is due in terms of the agreement executed with Client, even if such fee is due on a date after March 31, 2021? lAs are not permitted to collect any fee other than the fee as specified in the aforesaid Circular. Further, lAs […]
Section 197 of Income Tax Act, 1961 contains the provisions for Lower Deduction Certificate. Generally, where the actual income tax liability on the income of the assessee is less than the TDS which has been deducted by the payer as per Chapter-XVII, then it may cause a major problem of working capital management for the […]
SEBI has in recent past issued 4 Circulars on 29th April 2021 providing relaxation from SEBI Compliance. Article anslyses some of such relaxation in the article. 1. Relaxation of time limit for submission of Annual audited financial statements for entities who have listed their securities other than equity on Stock https://taxguru.in/sebi/sebi-relaxes-compliance-lodr-regulation-applicable-circulars.html Particulars Original Date Extended […]
Nutan Warehousing Co. Pvt. Ltd. Vs ACIT (ITAT Pune) The concept of `accrual of income’ needs to be considered in the hue of the ‘real income theory’. Where accrual of an income takes place but its realisation becomes impossible, such hypothetical income cannot be charged to tax. In the case of mercantile system of accounting, […]
The concept of OLD Vs New Tax regime = a dual tax regime was introduced by Finance Act-2020 for FY 2020-21. For FY 2020-21 corresponding to AY 2021-22, there are a Dual Tax regime as discussed in the one of article shared with you for TAX SAVINGS TIPS. Link is given below : – https://taxguru.in/income-tax/income-tax-savings-tips-help-tax-planning.html […]
Omkam developers Ltd. Vs ITO (ITAT Delhi) 1. The reasons recorded are based on suspicion, which is evident from the words used in reasons recorded, i.e., “it appears that assessee M/s Omkam Developers Ltd. has received bogus share capital/share premium to the tune of ₹ 1.93 Crores. 2. The Assessing Officer has just accepted the […]
Limited partnerships are an essential part of the CS Foundation business and legal environment. This topic is handled at all levels by CS (company secretary). LLP is included in the elements of the Partnership Act and LLP. As the Indian economy grew, the role of the entrepreneur as well as his technical and professional workforce […]
