"25 August 2021" Archive - Page 2

FM unveils 4th edition of Public Sector Bank Reforms Agenda – EASE 4.0

Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman today unveiled the fourth edition of the Public Sector Bank (PSB) Reforms Agenda ‘EASE 4.0’ for 2021-22 - tech-enabled, simplified, and collaborative banking. She unveiled the annual report for the PSB Reforms Agenda EASE 3.0 for 2020-21 and participated in the aw...

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Posted Under: Finance |

RBI:  Safe Deposit Locker of Banks – Revised Instructions

All of us are affected by bank lockers, the savior of jewels, safely kept passports, prestigious documents or at least an outing for all of us to visit the branch of our bank and refresh our long last memories of decades. Yes, RBI revised its instructions on ‘Safe Deposit Locker/Safe Custody Article Facility provided by […]...

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Posted Under: Finance |

Dual Approval for Independent Director: Hopes of Ushering into a New Era Shattered

An Independent Director is one who can give an independent assessment of the company, in particular on the questions of strategies, productivity, risk evaluation, capabilities and ethical standards. They are the ones whose duty is to provide an impartial and informed evaluation in the assessment of management and board performance....

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Posted Under: Finance |

Is Sport Cess a Need of time?

Is Sport Cess a Need of time? I am feeling the same as all Indian are feeling after getting 7 medals including First Gold medal in the history of athletics in Olympics happened in Tokyo, Japan Just few weeks ago still when every Indian like me See the medal table then one thought comes to […]...

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Posted Under: Finance |

Effective Tips for Successful Exam Preparation

Exam time can be very stressful as it puts a lot of pressure on students to perform well. However, there are various things you can follow to better prepare for your exam. While completing the curriculum is essential for most exams, it is also important to use your time effectively. The myth says that students […]...

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Posted Under: Finance |

Karnataka HC directs GST authorities to Permit Filing of Tran-1

Malnad Projects Private Limited Vs Union of India (Karnataka High Court)

Malnad Projects Private Limited Vs Union of India (Karnataka High Court) The subject matter of this Writ Petition is substantially similar to the one treated by a Division Bench of this Court in W.A.No.461/2020 (T-RES) between UNION OF INDIA AND OTHERS Vs. M/S AT AND S INDIA PVT. LTD., AND ANOTHER, disposed off on 1.4.2021 […]...

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Non resident Indian to be resident Options available

In India the Income of a person is taxed through the provisions made in Income tax act 1961 read with Income tax rules 1962.The charge of the tax in India is primarily based on the residential Status of the person. A person can be a “Resident and ordinarily resident” or “Resident but not ordinarily resident” […]...

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Posted Under: Finance |

Tax benefits available for Startups

The Startup should be incorporated as a private limited company or registered as a partnership firm or a limited liability partnership. Turnover should be less than INR 100 Crores in any of the previous financial years since incorporation....

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Posted Under: Finance |

TDS on trade discount to news paper vendors & P2P payment to Advertising Agents

PCIT Vs Dempo Industries Pvt. Ltd. (Bombay High Court)

PCIT Vs Dempo Industries Pvt. Ltd. (Bombay High Court) Heard the learned Counsel for the parties. 2. This appeal was admitted on 18th October 2016 on the following substantial questions of law: A. Whether the Hon’ble ITAT was right in completely ignoring the decision of the Hon’ble ITAT, Kolkata in ACIT V/s. Bharati Cellular L...

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Interest for late payment of TDS is not a deductible expenditure

Jindal Aluminium Limited Vs DCIT (ITAT Bangalore)

Jindal Aluminium Limited Vs DCIT (ITAT Bangalore) We have heard rival submissions and perused the material on record. The Hon’ble Apex Court in the case of Bharat Commerce & Industry v. CIT reported in 230 ITR 733 had held that interest for late payment of direct taxes is not a deductible expenditure. In view of […]...

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