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Archive: 16 August 2021

Posts in 16 August 2021

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7179 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

Late fees under section 234H for non-linking of PAN with Aadhaar

August 16, 2021 47802 Views 3 comments Print

Provisions of section 234H of the Income Tax Act are recently inserted vide the Finance Act, 2021. Accordingly, section 234H is made effective from 1st April 2021. It deals with the late fees payable on account of failure to intimate the Aadhaar number to the Income Tax Department (i.e., link the PAN with Aadhaar). The […]

De-notification of ICDs/CFSs/Air Freight Stations

August 16, 2021 2802 Views 0 comment Print

De-notification of Inland Container Depots/Container Freight Stations/Air Freight Stations Providing relief to custodians of Inland Container Depots (ICDs) and Container Freight Stations (CFSs) across the country, the CBIC today streamlined the procedure of closure of these facilities in maximum of four months only. No timeline was specified earlier. ICDs and CFS play a vital role […]

GST: Sections not enacted: (Part:1/3)

August 16, 2021 6063 Views 0 comment Print

Since the Goods and Service Tax Acts have been introduced in the country, there have been many amendments in GST Acts itself through Annual Finance Acts.  In this write up, we have compiled the various sections of CGST and IGST Acts, amended through different Finance Acts and have been passed in Parliament but have not […]

Request to extend timelines for holding AGM due to COVID-19

August 16, 2021 40938 Views 8 comments Print

Considering the current crisis, ICSI requested Ministry of Corporate Affairs to grant an extension of time to the companies for holding AGM for the year ended 31st March, 2021 till 31st December, 2021 so as to provide relief to all the companies and stakeholders.

Taxation of Segregated Portfolio Scheme

August 16, 2021 27789 Views 2 comments Print

Understand the taxation of segregated portfolio schemes under the Income Tax Act, 1961. Learn about the impact on debt mutual funds and investors.

Hedge Funds in India

August 16, 2021 68550 Views 2 comments Print

I don’t think that hedge funds are bad per se. I think they’re just one more financial tool. And in that sense, they’re useful. ~ Barack Obama First of all we should ask what is a hedge fund ? A Hedge fund is a private investment partnership and funds pool that uses varied and complex […]

Incorporation of Private Company under Companies Act, 2013

August 16, 2021 2025 Views 0 comment Print

Private Company Section 2(68) of the act states that a private company is means a company which, Restricts the right to transfer shares. Limit the number of members to two hundred, However the maximum number excludes former employees who are also members, and current employees holding shares. Provided that, Joint holders of shares shall be treat […]

Why startups should chose LLP over partnership

August 16, 2021 5985 Views 1 comment Print

A lot of Startups are emerging in India. So, it is important for them to know which form and structure of entity is the best for them. If you want to enjoy both the features of a partnership firm and a company, you should think of Limited Liability Partnership (LLP). LLP for Startups in India […]

Section 148 Reassessment order passed in case of non-existent entity is void

August 16, 2021 4032 Views 1 comment Print

Case Name: Teleperformance Global Services Private Limited vs ACIT (Bombay High Court) Written Petition No 950 of 2020 Date of judgment/order: 09.04.2021 Related Assessment Year – 2012-13 Court: Bombay High Court The Hon’ble Bombay High Court has in case of writ petition filed by Teleperformance Global Services Private has held that assessment order passed against […]

Writ Petition Against section 148 Notices In Bombay High Court

August 16, 2021 8481 Views 0 comment Print

Mansi Ankit Bhalaria Vs Union of India And Ors. (Bombay High Court) A  NUMBER OF WRITS FILED IN BOMBAY HIGH COURT AGAINST NOTICES UNDER SECTION 148 AND VIRES OF TAXATION AND OTHER LAWS ACT 2020 ALSO CHALLENGED, STAY GRANTED According to petitioners, the extension of time limit granted under The Taxation and Other Laws (Relaxation […]

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