Standard Operating Procedure for listed subsidiary company desirous of getting delisted through a Scheme of Arrangement wherein the listed parent holding company and the listed subsidiary are in the same line of business.
Here in this article, we will discuss about the applicability of GST Audit for the Financial Year 2020-21 with the help of relevant provisions of CGST Act, 2017, Finance Act, 2021 and Press Release of 43rd GST Council Meeting held on 28th May, 2021. GST Audit Provisions under CGST Act, 2017: 35 (5) Every registered […]
Every purchaser of goods, whose total sales, gross receipt or turnover from the business exceeds Rs. 10 crores in immediate preceding financial year. In such case, he is liable to deduct TDS under section 194Q @ 0.1% on the amount booked or paid (whichever is earlier) as consideration for the purchase of goods to a […]
RBI by release of its occasional research papers vide its communication dated June 11, 2021 analyses the role of regulatory bank capital in influencing credit flows and GDP growth with the following web release of ‘Macroeconomic Implifications of Bank Capital Regulations‘. Analyzing the study in a layman’s language, the following questions have been raised in […]
ICAI signs MoU with Qatar Financial Centre (QFC) for export of accounting services to Qatar & exploring professional and business opportunities for ICAI members
M/s. QlikTech International AB Vs DCIT (ITAT Bangalore) Bangalore ITAT rules out royalty on distribution of software and holds that software payments are not taxable in India by placing reliance on landmark rulings in case of Engineering Analysis Centre of Excellence. It further held that back office services don’t qualify as Fees for Technical Services […]
NCLAT Notice No. 138/2021 – Partial temporary relaxation in the Revised Standard Operating Procedure with regard to the filing of Hard-Copies as given in the Notice No. 112/2021 dated 24th May, 2021 is withdrawn with immediate effect. The Revised Standard Operating Procedure dated January 3, 2021, would now be fully operational including it is mandatory that […]
And whereas under sub-rule (1) of Rule 11 of the said Rules, every real estate agent required to be registered as per sub-section (2) of section 9 of the Real Estate (Regulation and Development) Act, 2016
Inox Air Products Private Limited Vs ACIT (ITAT Pune) The issue in the present appeal relates to the subsidy received by the assessee company is whether in the nature of capital or revenue. There is no need to extract the schemes of the subsidy policies of the respective States as the Assessing Officer had set […]
According to the learned counsel for the petitioner, the Income Tax Department has clarified the newly introduced provision of Section 194Q of the Act by their communication at Ext.P7 which unequivocally states that buyers are supposed to deduct tax at source within the sale consideration payable to the Oil Companies.
