Prime Minister Shri Narendra Modi on August 2nd launched digital payment solution e-RUPI, a cashless and contactless instrument for digital payment. Prime Minister said that the eRUPI voucher is going to play a huge role in making Direct Benefit Transfer (DBT) more effective in digital transactions in the country and will give a new dimension to digital governance.
Jay Shree Industries Vs Union of India (Allahabad High Court) Whether ‘redemption fine’ falls within the meaning of the word ‘penalty’ used in section 129 of the Scheme, we find neither word has been defined under the Scheme or the Rules framed thereunder or the principal Act, namely the Central Excise Act, 1944. Indisputably, the […]
The focus while borrowing should be on the repayment of the loan. That is how a strong credit background and future financial opportunities open up. A personal loan is no doubt the best thing to rely on, in a time of crisis. However, it has strong eligibility criteria and the approval process is not as […]
Read IRDAI’s guidelines urging General Insurance Companies to expedite claims for July 2021 floods in Maharashtra. Steps, contacts, and awareness highlighted for efficient claim settlement.
As a result of recent flood there are reports of loss of human lives and loss of belongings in the state of Maharashtra. In order to extend every possible facilitation in quick and timely settlement of life insurance claims, you are advised to take the following actions immediately.
Recently, the Central Board of Direct Taxes (CBDT) in April 2021 notified new ITR forms for the financial year 2021-2022. Later in May 2021, they extended the timeline for submitting direct tax compliances for the current financial year. In India, every individual has to file for income tax returns i.e. ITR in every financial year. […]
A trademark is a unique symbol or word(s) used to represent a business or its products. It is an easily recognizable symbol, phrase, or word that denotes a specific product. It legally differentiates a product or service from all others of its kind and recognizes the source company’s ownership of the brand. Once it is registered, […]
Section 194N: TDS on Cash withdrawal in excess on INR 1 Crore This section applies to any Banking Company, Co-operative Society or Post office who is responsible to pay any sum being amount or aggregate of amounts, in cash, in excess of INR 1 Crore during the Previous Year to any person from one or […]
Number of Directors Requirement in different companies: As per section 2(10) “Board of Directors” or “Board”, in relation to a company, means the collective body of the Directors of the company; As per section 149 of the Companies Act, 2013 every company shall have a minimum number of: 3 directors in the case of a […]
Any order of the subordinate authority which could have been considered as erroneous and prejudicial to the interest of revenue in allowing assessee’s claim of deduction under section 80IA, either due to lack of enquiry or otherwise, was the original assessment order passed under section 143(3) r.w.s. 144C and not the re-assessment order. PCIT had proceeded to revise the assessment order passed under section 143(3) r.w.s. 147 to get over the hurdle of limitation which was impermissible.
