A Company May, remove a director except the director appointed by NCLT u/s 242, before the expiry of the period of his office after passing ordinary resolution Provided that independent director re-appointed for second term u/s 149 shall be removed by company only by passing special resolution after giving him reasonable opportunity of being heard […]
Income Tax Department is happy to inform the launch of its new e-filing portal www.incometax.gov.in from Today 7th June 2021. 1. key changes in ITR Forms for A.Y 2021-22 in the simplified form regarding changes in ITR-1- ITR-1 cannot be filed in case tax has been deducted u/s 194N. 2. Now what is Section 194N-TDS […]
Finance Act 2020 had introduced Sec 206C (1H) – which compelled the seller of goods to collect TCS on sale to eligible buyers subject to certain conditions. Amidst a lot of hue and cry the CBDT had finally implemented the same with effect from 1st Oct 2020.
Introduction The companies always plan and carry the financial transactions in many ways and accordingly availed the deposits, loans and advances from directors, Shareholders or various public Financial Instituitons. MCA has introduced the E-form DPT-3 with an intention to report the complete details of Exempted Deposits i.e, Loans or advances taken by the company from […]
IRDAI has Imposed Penalty of Rs. 8 Lakh on Interocean Insurance Suveyors And Loss Assessors Pvt. Ltd. For Acceptance of survey works in areas for which the Surveyor does not hold a license. It also cautioned it for Delay in submission of survey reports and issued advisory for Failure to intimate the opening of branches. […]
Online PSB Loans Limited is allowed to perform Aadhaar authentication, on voluntary basis, for verification, including Yes or No authentication and e-KYC, of beneficiaries on the National Portal for Credit Linked Government Schemes
On a review, it has been decided that Risk Based Internal Audit (RBIA) shall be applicable to Housing Finance Companies (HFCs) also, as stipulated below: a. All deposit taking HFCs, irrespective of their size b. Non-deposit taking HFCs with asset size of ₹5,000 crore and above
ACIT Vs Remi Electrotechnik Ltd. (ITAT Mumbai) Assessing Officer levied penalty under section 271(1)(c) of the Act on estimate basis without any evidence on record with regard to concealment of income. Penalty under section 271(1)(c) of the Act is leviable to be imposed only where the assessee has concealed its particulars of income or furnished […]
Nillesh Parrekh Vs Assistant Director (Calcutta High Court) The Enforcement Directorate (ED) happens to be the specialised financial Investigating Agency under the Department of Revenue, which is entrusted to enforce the provisions of the Prevention of Money Laundering Act, 2002 (PML Act). As such, it will be utterly fallacious to suppose that only the Director […]
Explore the case of Surya Alumex vs. Commissioner of Central Goods and Service Tax (CESTAT Delhi). Understand the implications of Rule 4(4) of CENVAT Credit Rules, 2004 on Cenvat credit and depreciation claims.
