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Archive: 29 June 2021

Posts in 29 June 2021

Profit from sale of shares from investment portfolio taxable as ‘Capital Gains’ & not as ‘Business Income’

June 29, 2021 1617 Views 0 comment Print

The Hon’ble ITAT, Ahmedabad in Swatiben Anilbhai Shah v. DCIT [Income Tax Appeal Nos. 1513, 1514 and 1515/Ahd/2019 decided on January 29, 2021] held that where assessee purchased shares and recorded them in investment portfolio and it was justified that the intention of the assessee was to purchase the shares as capital asset, then income […]

Scheme for Assistance to MSMEs in Gujarat (including service enterprise)

June 29, 2021 5823 Views 0 comment Print

Name of the Scheme Scheme for financial assistance by way of Capital Subsidy and Credit linked Interest Subsidy to Micro, Small and Medium Enterprises. GR No : Govt. of Gujarat, Industry & Mines Dept, Resolution No: SSI/102020/332278/CH Date : 01/09/2020 Operative Period: From 07/08/2020 to 06/08/2025 Who will be eligible? 1) The Enterprise registered as […]

States/UTs to ensure implementation of Inter-State Migrant Workers Act: SC

June 29, 2021 1125 Views 0 comment Print

Bandhua Mukti Morcha Vs Union of India & Ors. (Supreme Court of India) In a Suo Motu Writ Petition, Hon’ble Supreme Court observed that a direction need to be issued to the States/Union Territories to register all establishments and license all contractors under the Inter State Migrant Workers Act, 1979 and ensure that statutory duty […]

Course Fee Waiver Scheme for CMA Students Amid COVID-19

June 29, 2021 672 Views 0 comment Print

The Council has granted a course fee waiver scheme in the form of scholarship to the aspiring CMA students at Intermediate and/or Final level who unfortunately lost their father or mother or guardian due to COVID 19, who were earning member of their family.

Extension in last date of filing QPRs/APRs by SEZ units/EOUs/Developers

June 29, 2021 7059 Views 0 comment Print

The Department of Commerce under SEZ Division issued Circular vide No. K-43022/7/2020-SEZ dated June 29, 2021 for extension in the last date of filing QPRs/APRs by SEZ units/EOUs/Developers upto December 31, 2021 No. K-43022/7/2020-SEZ Government of India Ministry of Commerce & Industry Department of Commerce SEZ Division Udyog Bhavan New Delhi Dated: 29th June, 2021 […]

Delta and Delta Plus Variants: FAQs

June 29, 2021 1485 Views 0 comment Print

Section 2(34) of the Companies Act, 2013 defines director to mean a director appointed to the Board of the Company. Only Individuals can be appointed as Directors in a company. It is not the name by which a person is called but by the position he occupies and the functions and duties that he discharges that determine whether in fact, he is a director or not.

Cross Margin in Commodity Index Futures & its underlying constituent futures or its variants

June 29, 2021 375 Views 0 comment Print

Securities and Exchange Board of India Circular No.: SEBI/HO/CDMRD/CDMRD_DRM/P/CIR/2021/586 June 29, 2021 To, The Managing Directors / Chief Executive Officers, All Clearing Corporations having Commodity Derivatives Segment Sir / Madam, Sub: Cross Margin in Commodity Index Futures and its underlying constituent futures or its variants 1. SEBI has prescribed norms, inter-alia, for providing margin benefit […]

SEBI Board Meeting 29th June 2021- 11 Things to Know

June 29, 2021 1386 Views 0 comment Print

The Board considered and approved the proposals relating to the review and merger of the SEBI (Issue and Listing of Debt Securities) Regulations, 2008 and SEBI (Non-Convertible Redeemable Preference Shares) Regulations, 2013 into a single Regulation to be called– SEBI (Issue and Listing of Non-Convertible Securities) Regulations, 2021.

Clarification on withdrawal/closure of accounts under National Savings Schemes- Reg.

June 29, 2021 3915 Views 1 comment Print

As per Rule 12 of Govt. Savings Promotion General Rules, 2018 issued vide GSR No. 1003(E) dated 05.10.2018 circulated vide SB Order No. 13/2019 dated 18.12.2019, at the time of payment of maturity proceeds or partial withdrawal or interest, the depositor shall affix his signature or thumb impression in the presence of the authorised officer who shall verify the identity of the person

Motor Car Air Springs (shock absorber) classifiable under CTH 8708: AAAR

June 29, 2021 1389 Views 0 comment Print

In re SI AIR Springs Private Limited (GST AAAR Tamilnadu) In the case at hand, the product is not a joint, washer or the like, it is an ‘Air bellow’, a specifically designed part for use in the Motor Vehicle as a Shock absorbent and therefore, even if the part which gives the essential character […]

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